BeAngels Capital: 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.
BeAngels Capital
Largest movements
- Cash +€711,875
up €711,875 (+2,585%), from €27,539 to €739,414
mainly Other debts (+€441,854) and Trade debts (+€199,188)
- Intangible fixed assets -€53,470
down €53,470 (-21.2%), from €252,045 to €198,575
- Receivables within one year -€14,921
down €14,921 (-16.1%), from €92,458 to €77,536
of which Other amounts receivable: -€19,942
- Other debts +€441,854
up €441,854 (+2,440%), from €18,105 to €459,960
- Trade debts +€199,188
up €199,188 (+125%), from €159,406 to €358,594
- Debts after one year -€95,904
down €95,904 (-20.3%), from €472,669 to €376,765
of which Financial debts: -€50,000
- Current portion of long-term debt +€50,000
new in 2025: €50,000
- Accrued charges and deferred income +€48,259
up €48,259 (+82.1%), from €58,785 to €107,043
- Staff costs -€119,848
down €119,848 (-65.4%), from €183,201 to €63,354
- Gross operating margin +€65,736
up €65,736 (+58.7%), from €111,905 to €177,641
- Depreciation +€9,006
up €9,006 (+12.1%), from €74,304 to €83,309
- Financial charges +€6,820
up €6,820 (+49.4%), from €13,802 to €20,622
- Financial income -€2,962
down €2,962 (-51.8%), from €5,722 to €2,760
of which Non-recurring financial income: -€3,641
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 | €382,636 | €1,036,954 | +€654,318 | +171% |
| Fixed assets | 21/28 | €253,554 | €204,239 | -€49,315 | -19.4% |
| Intangible fixed assets | 21 | €252,045 | €198,575 | -€53,470 | -21.2% |
| Tangible fixed assets | 22/27 | €510 | €1,164 | +€655 | +129% |
| Furniture and vehicles | 24 | €510 | €1,164 | +€655 | +129% |
| Financial fixed assets | 28 | €1,000 | €4,500 | +€3,500 | +350% |
| Current assets | 29/58 | €129,082 | €832,715 | +€703,633 | +545% |
| Amounts receivable within one year | 40/41 | €92,458 | €77,536 | -€14,921 | -16.1% |
| Trade receivables | 40 | €55,360 | €60,381 | +€5,021 | +9.1% |
| Other amounts receivable | 41 | €37,098 | €17,156 | -€19,942 | -53.8% |
| Cash at bank and in hand | 54/58 | €27,539 | €739,414 | +€711,875 | +2,585% |
| Deferred charges and accrued income | 490/1 | €9,085 | €15,764 | +€6,679 | +73.5% |
| Total equity and liabilities | 10/49 | €382,636 | €1,036,954 | +€654,318 | +171% |
| Equity | 10/15 | -€335,366 | -€323,933 | +€11,433 | +3.4% |
| Contributions | 10/11 | €398,600 | €398,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€743,214 | -€731,013 | +€12,200 | +1.6% |
| Investment grants | 15 | €9,248 | €8,480 | -€768 | -8.3% |
| Amounts payable | 17/49 | €718,002 | €1,360,887 | +€642,885 | +89.5% |
| Amounts payable after more than one year | 17 | €472,669 | €376,765 | -€95,904 | -20.3% |
| Financial debts | 170/4 | €250,000 | €200,000 | -€50,000 | -20.0% |
| Other amounts payable | 178/9 | €222,669 | €176,765 | -€45,904 | -20.6% |
| Amounts payable within one year | 42/48 | €186,548 | €877,078 | +€690,530 | +370% |
| Current portion of amounts payable after more than one year | 42 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €159,406 | €358,594 | +€199,188 | +125% |
| Suppliers | 440/4 | €159,406 | €358,594 | +€199,188 | +125% |
| Taxes, remuneration and social security | 45 | €9,037 | €8,525 | -€512 | -5.7% |
| Taxes | 450/3 | €586 | €1,045 | +€460 | +78.5% |
| Remuneration and social security | 454/9 | €8,451 | €7,480 | -€971 | -11.5% |
| Other amounts payable | 47/48 | €18,105 | €459,960 | +€441,854 | +2,440% |
| Accrued charges and deferred income | 492/3 | €58,785 | €107,043 | +€48,259 | +82.1% |
| Remuneration, social security and pensions | 62 | €183,201 | €63,354 | -€119,848 | -65.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,304 | €83,309 | +€9,006 | +12.1% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | - | €343 | +€343 | |
| Gross operating margin | 9900 | €111,905 | €177,641 | +€65,736 | +58.7% |
| Operating profit (loss) | 9901 | -€145,987 | €30,235 | +€176,222 | |
| Financial income | 75/76B | €5,722 | €2,760 | -€2,962 | -51.8% |
| Recurring financial income | 75 | €2,081 | €2,760 | +€679 | +32.6% |
| Non-recurring financial income | 76B | €3,641 | - | -€3,641 | |
| Financial charges | 65/66B | €13,802 | €20,622 | +€6,820 | +49.4% |
| Recurring financial charges | 65 | €13,802 | €20,622 | +€6,820 | +49.4% |
| Profit (loss) for the period before taxes | 9903 | -€154,067 | €12,374 | +€166,441 | |
| Income taxes | 67/77 | €348 | €173 | -€175 | -50.3% |
| Profit (loss) for the period | 9904 | -€154,416 | €12,200 | +€166,616 | |
| Profit (loss) for the period to be appropriated | 9905 | -€154,416 | €12,200 | +€166,616 |
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 27 October 2026 via checked.be.