BE EQUESTRIAN: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
BE EQUESTRIAN
Largest movements
- Cash -€183,426
down €183,426 (-95.4%), from €192,347 to €8,921
mainly Trade debts (-€96,248) and Stocks and contracts (-€74,064)
- Stocks and contracts +€74,064
up €74,064 (+169.3%), from €43,750 to €117,814
- Receivables within one year +€19,153
up €19,153 (+251.6%), from €7,614 to €26,767
of which Trade receivables: +€16,955
- Deferred charges and accrued income -€11,829
down €11,829 (-80.8%), from €14,631 to €2,802
- Tangible fixed assets -€8,282
down €8,282 (-22.7%), from €36,438 to €28,156
of which Furniture and vehicles: -€4,650
- Trade debts -€96,248
down €96,248 (-93.1%), from €103,364 to €7,116
- Tax, wage and social debts -€19,889
down €19,889 (-84.3%), from €23,596 to €3,707
of which Taxes: -€22,760
- Other debts +€6,302
up €6,302 (+20.9%), from €30,132 to €36,434
- Gross operating margin -€107,427
down €107,427 (-85.9%), from €124,998 to €17,571
- Taxes -€21,884
down €21,884 (-98.7%), from €22,167 to €283
- Depreciation +€6,654
up €6,654 (+408.8%), from €1,628 to €8,282
- Financial charges -€1,966
down €1,966 (-92.9%), from €2,115 to €149
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €294,779 | €184,460 | -€110,319 | -37.4% |
| Fixed assets | 21/28 | €36,438 | €28,156 | -€8,282 | -22.7% |
| Tangible fixed assets | 22/27 | €36,438 | €28,156 | -€8,282 | -22.7% |
| Plant, machinery and equipment | 23 | €14,424 | €10,792 | -€3,632 | -25.2% |
| Furniture and vehicles | 24 | €22,014 | €17,364 | -€4,650 | -21.1% |
| Current assets | 29/58 | €258,342 | €156,304 | -€102,037 | -39.5% |
| Stocks and contracts in progress | 3 | €43,750 | €117,814 | +€74,064 | +169.3% |
| Stocks | 30/36 | €43,750 | €117,814 | +€74,064 | +169.3% |
| Amounts receivable within one year | 40/41 | €7,614 | €26,767 | +€19,153 | +251.6% |
| Trade receivables | 40 | €5,295 | €22,250 | +€16,955 | +320.2% |
| Other amounts receivable | 41 | €2,319 | €4,517 | +€2,198 | +94.8% |
| Cash at bank and in hand | 54/58 | €192,347 | €8,921 | -€183,426 | -95.4% |
| Deferred charges and accrued income | 490/1 | €14,631 | €2,802 | -€11,829 | -80.8% |
| Total equity and liabilities | 10/49 | €294,779 | €184,460 | -€110,319 | -37.4% |
| Equity | 10/15 | €137,547 | €137,204 | -€343 | -0.2% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,047 | €133,704 | -€343 | -0.3% |
| Amounts payable | 17/49 | €157,233 | €47,257 | -€109,976 | -69.9% |
| Amounts payable within one year | 42/48 | €157,233 | €47,257 | -€109,976 | -69.9% |
| Financial debts | 43 | €141 | €0 | -€141 | -100.0% |
| Other loans | 439 | €141 | €0 | -€141 | -100.0% |
| Trade debts | 44 | €103,364 | €7,116 | -€96,248 | -93.1% |
| Suppliers | 440/4 | €103,364 | €7,116 | -€96,248 | -93.1% |
| Taxes, remuneration and social security | 45 | €23,596 | €3,707 | -€19,889 | -84.3% |
| Taxes | 450/3 | €23,009 | €250 | -€22,760 | -98.9% |
| Remuneration and social security | 454/9 | €587 | €3,457 | +€2,871 | +489.4% |
| Other amounts payable | 47/48 | €30,132 | €36,434 | +€6,302 | +20.9% |
| Remuneration, social security and pensions | 62 | €7,698 | €7,731 | +€32 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,628 | €8,282 | +€6,654 | +408.8% |
| Other operating charges | 640/8 | €1,449 | €636 | -€813 | -56.1% |
| Non-recurring operating charges | 66A | €1,389 | €0 | -€1,389 | -100.0% |
| Gross operating margin | 9900 | €124,998 | €17,571 | -€107,427 | -85.9% |
| Operating profit (loss) | 9901 | €112,833 | €922 | -€111,911 | -99.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -94.1% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -94.1% |
| Financial charges | 65/66B | €2,115 | €149 | -€1,966 | -92.9% |
| Recurring financial charges | 65 | €2,115 | €149 | -€1,966 | -92.9% |
| Profit (loss) for the period before taxes | 9903 | €110,719 | €773 | -€109,945 | -99.3% |
| Income taxes | 67/77 | €22,167 | €283 | -€21,884 | -98.7% |
| Profit (loss) for the period | 9904 | €88,552 | €490 | -€88,062 | -99.4% |
| Profit (loss) for the period to be appropriated | 9905 | €88,552 | €490 | -€88,062 | -99.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.