BEARS CO.: 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.
BEARS CO.
Largest movements
- Stocks and contracts +€112,170
up €112,170 (+66.5%), from €168,748 to €280,918
- Receivables within one year -€94,760
down €94,760 (-49.9%), from €189,848 to €95,088
of which Other amounts receivable: -€53,199
- Cash +€67,517
up €67,517 (+55.9%), from €120,841 to €188,358
mainly Net result for the year (+€119,822) and Receivables within one year (+€94,760)
- Deferred charges and accrued income +€7,474
up €7,474 (+964.9%), from €775 to €8,248
- Trade debts -€98,600
down €98,600 (-85.1%), from €115,834 to €17,234
- Debts after one year +€84,977
up €84,977 (+82.8%), from €102,627 to €187,604
- Other debts +€79,020
up €79,020 (+526.8%), from €15,000 to €94,020
- Tax, wage and social debts +€32,178
up €32,178 (+322.8%), from €9,969 to €42,147
of which Taxes: +€32,651
- Current portion of long-term debt -€11,257
down €11,257 (-12.8%), from €88,056 to €76,799
- Gross operating margin +€174,548
up €174,548 (+102.3%), from €170,683 to €345,231
- Staff costs +€32,797
up €32,797 (+32.7%), from €100,446 to €133,243
- Financial charges +€30,509
up €30,509 (+307.5%), from €9,920 to €40,430
- Taxes +€25,581
up €25,581 (+174.5%), from €14,657 to €40,238
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 | €519,769 | €606,867 | +€87,098 | +16.8% |
| Fixed assets | 21/28 | €39,557 | €34,254 | -€5,303 | -13.4% |
| Tangible fixed assets | 22/27 | €28,757 | €23,454 | -€5,303 | -18.4% |
| Plant, machinery and equipment | 23 | €6,425 | €6,864 | +€439 | +6.8% |
| Furniture and vehicles | 24 | €5,775 | €1,894 | -€3,880 | -67.2% |
| Other tangible fixed assets | 26 | €16,558 | €14,696 | -€1,862 | -11.2% |
| Financial fixed assets | 28 | €10,800 | €10,800 | = | 0.0% |
| Current assets | 29/58 | €480,211 | €572,613 | +€92,401 | +19.2% |
| Stocks and contracts in progress | 3 | €168,748 | €280,918 | +€112,170 | +66.5% |
| Stocks | 30/36 | €168,748 | €280,918 | +€112,170 | +66.5% |
| Amounts receivable within one year | 40/41 | €189,848 | €95,088 | -€94,760 | -49.9% |
| Trade receivables | 40 | €90,990 | €49,430 | -€41,561 | -45.7% |
| Other amounts receivable | 41 | €98,858 | €45,658 | -€53,199 | -53.8% |
| Cash at bank and in hand | 54/58 | €120,841 | €188,358 | +€67,517 | +55.9% |
| Deferred charges and accrued income | 490/1 | €775 | €8,248 | +€7,474 | +964.9% |
| Total equity and liabilities | 10/49 | €519,769 | €606,867 | +€87,098 | +16.8% |
| Equity | 10/15 | €188,284 | €188,106 | -€178 | -0.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €2,662 | €2,662 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,662 | €2,662 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,662 | €2,662 | = | 0.0% |
| Profit (loss) carried forward | 14 | €135,622 | €135,444 | -€178 | -0.1% |
| Amounts payable | 17/49 | €331,485 | €418,761 | +€87,276 | +26.3% |
| Amounts payable after more than one year | 17 | €102,627 | €187,604 | +€84,977 | +82.8% |
| Financial debts | 170/4 | €102,627 | €187,604 | +€84,977 | +82.8% |
| Amounts payable within one year | 42/48 | €228,858 | €230,879 | +€2,021 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €88,056 | €76,799 | -€11,257 | -12.8% |
| Trade debts | 44 | €115,834 | €17,234 | -€98,600 | -85.1% |
| Suppliers | 440/4 | €115,834 | €17,234 | -€98,600 | -85.1% |
| Advances received on contracts in progress | 46 | - | €680 | +€680 | |
| Taxes, remuneration and social security | 45 | €9,969 | €42,147 | +€32,178 | +322.8% |
| Taxes | 450/3 | €0 | €32,651 | +€32,651 | |
| Remuneration and social security | 454/9 | €9,969 | €9,496 | -€472 | -4.7% |
| Other amounts payable | 47/48 | €15,000 | €94,020 | +€79,020 | +526.8% |
| Accrued charges and deferred income | 492/3 | - | €278 | +€278 | |
| Remuneration, social security and pensions | 62 | €100,446 | €133,243 | +€32,797 | +32.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,876 | €8,873 | -€2,004 | -18.4% |
| Other operating charges | 640/8 | €1,056 | €2,626 | +€1,570 | +148.6% |
| Gross operating margin | 9900 | €170,683 | €345,231 | +€174,548 | +102.3% |
| Operating profit (loss) | 9901 | €58,305 | €200,489 | +€142,185 | +243.9% |
| Financial income | 75/76B | €67 | €0 | -€67 | -100.0% |
| Recurring financial income | 75 | €67 | €0 | -€67 | -100.0% |
| Financial charges | 65/66B | €9,920 | €40,430 | +€30,509 | +307.5% |
| Recurring financial charges | 65 | €9,920 | €40,430 | +€30,509 | +307.5% |
| Profit (loss) for the period before taxes | 9903 | €48,451 | €160,060 | +€111,609 | +230.4% |
| Income taxes | 67/77 | €14,657 | €40,238 | +€25,581 | +174.5% |
| Profit (loss) for the period | 9904 | €33,794 | €119,822 | +€86,028 | +254.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,794 | €119,822 | +€86,028 | +254.6% |
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 10 October 2026 via checked.be.