be.RED: 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.RED
Largest movements
- Receivables after one year +€68,644
up €68,644 (+235%), from €29,174 to €97,817
- Cash -€24,011
down €24,011 (-65.2%), from €36,823 to €12,812
mainly Receivables after one year (-€68,644) and Investment in fixed assets (net) (-€28,391)
- Receivables within one year -€16,099
down €16,099 (-54.0%), from €29,831 to €13,732
of which Trade receivables: -€18,842
- Tangible fixed assets +€12,108
up €12,108 (+3.7%), from €326,896 to €339,004
- Trade debts +€26,874
up €26,874 (+657%), from €4,090 to €30,964
- Other debts +€18,551
up €18,551 (+17.1%), from €108,228 to €126,778
- Debts after one year -€11,198
down €11,198 (-5.6%), from €200,958 to €189,760
- Gross operating margin +€20,512
up €20,512 (+150%), from €13,661 to €34,172
- Depreciation +€12,282
up €12,282 (+307%), from €4,002 to €16,283
- Financial charges +€8,416
up €8,416 (+135%), from €6,225 to €14,641
- Other operating charges +€2,787
up €2,787 (+280%), from €996 to €3,783
- Financial income +€1,311
up €1,311 (+49.5%), from €2,652 to €3,963
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 | €435,348 | €474,483 | +€39,134 | +9.0% |
| Fixed assets | 21/28 | €336,896 | €349,004 | +€12,108 | +3.6% |
| Tangible fixed assets | 22/27 | €326,896 | €339,004 | +€12,108 | +3.7% |
| Land and buildings | 22 | €317,118 | €322,476 | +€5,358 | +1.7% |
| Plant, machinery and equipment | 23 | - | €798 | +€798 | |
| Furniture and vehicles | 24 | €9,778 | €15,730 | +€5,952 | +60.9% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €98,453 | €125,479 | +€27,026 | +27.5% |
| Amounts receivable after more than one year | 29 | €29,174 | €97,817 | +€68,644 | +235% |
| Other amounts receivable | 291 | €29,174 | €97,817 | +€68,644 | +235% |
| Amounts receivable within one year | 40/41 | €29,831 | €13,732 | -€16,099 | -54.0% |
| Trade receivables | 40 | €25,943 | €7,101 | -€18,842 | -72.6% |
| Other amounts receivable | 41 | €3,888 | €6,631 | +€2,743 | +70.6% |
| Cash at bank and in hand | 54/58 | €36,823 | €12,812 | -€24,011 | -65.2% |
| Deferred charges and accrued income | 490/1 | €2,625 | €1,118 | -€1,507 | -57.4% |
| Total equity and liabilities | 10/49 | €435,348 | €474,483 | +€39,134 | +9.0% |
| Equity | 10/15 | €111,633 | €113,591 | +€1,958 | +1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34,011 | €34,011 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €32,151 | €32,151 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,022 | €60,980 | +€1,958 | +3.3% |
| Amounts payable | 17/49 | €323,716 | €360,891 | +€37,176 | +11.5% |
| Amounts payable after more than one year | 17 | €200,958 | €189,760 | -€11,198 | -5.6% |
| Financial debts | 170/4 | €200,958 | €189,760 | -€11,198 | -5.6% |
| Amounts payable within one year | 42/48 | €122,757 | €171,131 | +€48,374 | +39.4% |
| Current portion of amounts payable after more than one year | 42 | €9,042 | €11,198 | +€2,156 | +23.8% |
| Trade debts | 44 | €4,090 | €30,964 | +€26,874 | +657% |
| Suppliers | 440/4 | €4,090 | €30,964 | +€26,874 | +657% |
| Taxes, remuneration and social security | 45 | €1,398 | €2,191 | +€793 | +56.8% |
| Taxes | 450/3 | €1,398 | €2,191 | +€793 | +56.8% |
| Other amounts payable | 47/48 | €108,228 | €126,778 | +€18,551 | +17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,002 | €16,283 | +€12,282 | +307% |
| Other operating charges | 640/8 | €996 | €3,783 | +€2,787 | +280% |
| Non-recurring operating charges | 66A | €135 | €0 | -€135 | -100% |
| Gross operating margin | 9900 | €13,661 | €34,172 | +€20,512 | +150% |
| Operating profit (loss) | 9901 | €8,528 | €14,107 | +€5,578 | +65.4% |
| Financial income | 75/76B | €2,652 | €3,963 | +€1,311 | +49.5% |
| Recurring financial income | 75 | €2,652 | €3,963 | +€1,311 | +49.5% |
| Financial charges | 65/66B | €6,225 | €14,641 | +€8,416 | +135% |
| Recurring financial charges | 65 | €6,225 | €14,641 | +€8,416 | +135% |
| Profit (loss) for the period before taxes | 9903 | €4,955 | €3,429 | -€1,526 | -30.8% |
| Income taxes | 67/77 | €1,941 | €1,470 | -€471 | -24.3% |
| Profit (loss) for the period | 9904 | €3,014 | €1,958 | -€1,056 | -35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,014 | €1,958 | -€1,056 | -35.0% |
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 15 October 2026 via checked.be.