B.F.E.N.R.C.: what changed
B.F.E.N.R.C.
Largest movements
- Current investments -€114,514
down €114,514 (-91.6%), from €125,000 to €10,486
- Receivables within one year +€54,239
up €54,239 (+297%), from €18,272 to €72,511
of which Other amounts receivable: +€50,221
- Tangible fixed assets -€48,369
down €48,369 (-55.0%), from €87,929 to €39,560
- Cash -€2,952
down €2,952 (-11.2%), from €26,409 to €23,457
mainly Other debts (-€112,994) and Receivables within one year (-€54,239)
- Other debts -€112,994
no longer reported in 2025 (was €112,994)
- Tax, wage and social debts +€6,539
up €6,539 (+100%), from €6,529 to €13,068
of which Taxes: +€6,539
- Accrued charges and deferred income -€2,853
down €2,853 (-44.4%), from €6,422 to €3,568
- Gross operating margin -€17,707
down €17,707 (-16.7%), from €105,816 to €88,109
- Financial charges -€3,954
down €3,954 (-42.6%), from €9,288 to €5,334
- Taxes -€3,934
down €3,934 (-25.9%), from €15,214 to €11,279
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €258,695 | €148,524 | -€110,171 | -42.6% |
| Fixed assets | 21/28 | €87,929 | €39,560 | -€48,369 | -55.0% |
| Tangible fixed assets | 22/27 | €87,929 | €39,560 | -€48,369 | -55.0% |
| Furniture and vehicles | 24 | €87,929 | €39,560 | -€48,369 | -55.0% |
| Current assets | 29/58 | €170,766 | €108,964 | -€61,802 | -36.2% |
| Amounts receivable within one year | 40/41 | €18,272 | €72,511 | +€54,239 | +297% |
| Trade receivables | 40 | €13,400 | €17,418 | +€4,018 | +30.0% |
| Other amounts receivable | 41 | €4,872 | €55,094 | +€50,221 | +1,031% |
| Current investments | 50/53 | €125,000 | €10,486 | -€114,514 | -91.6% |
| Cash at bank and in hand | 54/58 | €26,409 | €23,457 | -€2,952 | -11.2% |
| Deferred charges and accrued income | 490/1 | €1,085 | €2,510 | +€1,425 | +131% |
| Total equity and liabilities | 10/49 | €258,695 | €148,524 | -€110,171 | -42.6% |
| Equity | 10/15 | €123,831 | €123,251 | -€580 | -0.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €118,831 | €118,251 | -€580 | -0.5% |
| Distributable reserves | 133 | €118,831 | €118,251 | -€580 | -0.5% |
| Amounts payable | 17/49 | €134,864 | €25,273 | -€109,591 | -81.3% |
| Amounts payable within one year | 42/48 | €128,442 | €21,705 | -€106,738 | -83.1% |
| Financial debts | 43 | €1,696 | €1,816 | +€120 | +7.1% |
| Credit institutions | 430/8 | €1,696 | €1,816 | +€120 | +7.1% |
| Trade debts | 44 | €7,223 | €6,820 | -€403 | -5.6% |
| Suppliers | 440/4 | €7,223 | €6,820 | -€403 | -5.6% |
| Taxes, remuneration and social security | 45 | €6,529 | €13,068 | +€6,539 | +100% |
| Taxes | 450/3 | €5,529 | €12,068 | +€6,539 | +118% |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €112,994 | - | -€112,994 | |
| Accrued charges and deferred income | 492/3 | €6,422 | €3,568 | -€2,853 | -44.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,454 | €50,168 | +€714 | +1.4% |
| Other operating charges | 640/8 | €2,739 | €2,466 | -€272 | -9.9% |
| Gross operating margin | 9900 | €105,816 | €88,109 | -€17,707 | -16.7% |
| Operating profit (loss) | 9901 | €53,623 | €35,474 | -€18,149 | -33.8% |
| Financial income | 75/76B | €0 | €924 | +€924 | +318,531% |
| Recurring financial income | 75 | €0 | €924 | +€924 | +318,531% |
| Financial charges | 65/66B | €9,288 | €5,334 | -€3,954 | -42.6% |
| Recurring financial charges | 65 | €9,288 | €5,334 | -€3,954 | -42.6% |
| Profit (loss) for the period before taxes | 9903 | €44,336 | €31,064 | -€13,272 | -29.9% |
| Income taxes | 67/77 | €15,214 | €11,279 | -€3,934 | -25.9% |
| Profit (loss) for the period | 9904 | €29,122 | €19,784 | -€9,338 | -32.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,122 | €19,784 | -€9,338 | -32.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.