BE PROTECTION: 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 PROTECTION
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+1,608%), from €66,765 to €1.1m
of which Land and buildings: +€1.1m
- Cash +€126,814
up €126,814 (+89.4%), from €141,861 to €268,675
mainly Debts after one year (+€950,345) and Other debts (+€184,287)
- Receivables within one year -€107,170
down €107,170 (-17.2%), from €621,974 to €514,805
of which Trade receivables: -€110,703
- Stocks and contracts +€43,560
up €43,560 (+18.7%), from €232,706 to €276,266
- Debts after one year +€950,345
new in 2025: €950,345
- Other debts +€184,287
up €184,287 (+636%), from €28,986 to €213,274
- Trade debts -€25,064
down €25,064 (-13.1%), from €191,818 to €166,755
- Gross operating margin +€78,692
up €78,692 (+22.4%), from €350,730 to €429,422
- Other operating charges +€57,737
up €57,737 (+1,074%), from €5,377 to €63,115
- Financial charges +€18,762
up €18,762 (+150%), from €12,538 to €31,300
- Taxes -€11,069
down €11,069 (-19.2%), from €57,551 to €46,482
- Depreciation -€5,526
down €5,526 (-16.3%), from €33,901 to €28,375
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.
Derived cash bridge
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 | €1,094,379 | €2,216,536 | +€1.1m | +103% |
| Fixed assets | 21/28 | €88,969 | €1,156,790 | +€1.1m | +1,200% |
| Intangible fixed assets | 21 | €2,554 | €2,011 | -€542 | -21.2% |
| Tangible fixed assets | 22/27 | €66,765 | €1,140,070 | +€1.1m | +1,608% |
| Land and buildings | 22 | - | €1,090,389 | +€1.1m | |
| Plant, machinery and equipment | 23 | €6,630 | €3,839 | -€2,791 | -42.1% |
| Furniture and vehicles | 24 | €26,654 | €19,675 | -€6,980 | -26.2% |
| Other tangible fixed assets | 26 | €33,480 | €26,167 | -€7,313 | -21.8% |
| Financial fixed assets | 28 | €19,650 | €14,708 | -€4,942 | -25.2% |
| Current assets | 29/58 | €1,005,410 | €1,059,746 | +€54,336 | +5.4% |
| Stocks and contracts in progress | 3 | €232,706 | €276,266 | +€43,560 | +18.7% |
| Stocks | 30/36 | €232,706 | €276,266 | +€43,560 | +18.7% |
| Amounts receivable within one year | 40/41 | €621,974 | €514,805 | -€107,170 | -17.2% |
| Trade receivables | 40 | €461,809 | €351,106 | -€110,703 | -24.0% |
| Other amounts receivable | 41 | €160,166 | €163,699 | +€3,533 | +2.2% |
| Cash at bank and in hand | 54/58 | €141,861 | €268,675 | +€126,814 | +89.4% |
| Deferred charges and accrued income | 490/1 | €8,868 | - | -€8,868 | |
| Total equity and liabilities | 10/49 | €1,094,379 | €2,216,536 | +€1.1m | +103% |
| Equity | 10/15 | €822,440 | €822,440 | = | 0.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €797,440 | €797,440 | = | 0.0% |
| Distributable reserves | 133 | €797,440 | €797,440 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €271,939 | €1,394,096 | +€1.1m | +413% |
| Amounts payable after more than one year | 17 | - | €950,345 | +€950,345 | |
| Financial debts | 170/4 | - | €950,345 | +€950,345 | |
| Amounts payable within one year | 42/48 | €265,086 | €443,752 | +€178,665 | +67.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | - | €17,591 | +€17,591 | |
| Credit institutions | 430/8 | - | €17,591 | +€17,591 | |
| Trade debts | 44 | €191,818 | €166,755 | -€25,064 | -13.1% |
| Suppliers | 440/4 | €191,818 | €166,755 | -€25,064 | -13.1% |
| Taxes, remuneration and social security | 45 | €44,282 | €46,132 | +€1,850 | +4.2% |
| Taxes | 450/3 | €35,184 | €36,707 | +€1,522 | +4.3% |
| Remuneration and social security | 454/9 | €9,098 | €9,426 | +€328 | +3.6% |
| Other amounts payable | 47/48 | €28,986 | €213,274 | +€184,287 | +636% |
| Accrued charges and deferred income | 492/3 | €6,853 | - | -€6,853 | |
| Non-recurring operating income | 76A | €11,364 | - | -€11,364 | |
| Remuneration, social security and pensions | 62 | €95,389 | €100,473 | +€5,084 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,901 | €28,375 | -€5,526 | -16.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €866 | - | -€866 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €5,377 | €63,115 | +€57,737 | +1,074% |
| Gross operating margin | 9900 | €350,730 | €429,422 | +€78,692 | +22.4% |
| Operating profit (loss) | 9901 | €215,197 | €237,459 | +€22,262 | +10.3% |
| Financial income | 75/76B | €13,868 | €14,558 | +€690 | +5.0% |
| Recurring financial income | 75 | €13,868 | €14,558 | +€690 | +5.0% |
| Financial charges | 65/66B | €12,538 | €31,300 | +€18,762 | +150% |
| Recurring financial charges | 65 | €12,538 | €31,300 | +€18,762 | +150% |
| Profit (loss) for the period before taxes | 9903 | €216,527 | €220,717 | +€4,190 | +1.9% |
| Income taxes | 67/77 | €57,551 | €46,482 | -€11,069 | -19.2% |
| Profit (loss) for the period | 9904 | €158,976 | €174,235 | +€15,259 | +9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €158,976 | €174,235 | +€15,259 | +9.6% |
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 19 October 2026 via checked.be.