BECAPA: 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.
BECAPA
Largest movements
- Receivables within one year +€38,342
up €38,342 (+32.9%), from €116,498 to €154,840
of which Trade receivables: +€27,040
- Cash +€20,983
up €20,983 (+18.1%), from €115,947 to €136,930
mainly Depreciation (+€136,253) and Net result for the year (+€56,794)
- Tangible fixed assets +€11,264
up €11,264 (+3.5%), from €326,011 to €337,275
of which Furniture and vehicles: +€11,811
- Reserves +€56,794
up €56,794 (+13.4%), from €423,881 to €480,675
of which Distributable reserves: +€56,794
- Tax, wage and social debts -€22,077
down €22,077 (-87.5%), from €25,237 to €3,160
of which Taxes: -€20,268
- Current portion of long-term debt +€15,702
new in 2025: €15,702
- Debts after one year +€7,851
new in 2025: €7,851
- Depreciation +€24,227
up €24,227 (+21.6%), from €112,026 to €136,253
- Staff costs -€19,614
down €19,614 (-49.5%), from €39,587 to €19,973
- Gross operating margin +€14,332
up €14,332 (+6.2%), from €229,843 to €244,175
- Write-downs +€5,223
up €5,223, from €0 to €5,223
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 | €569,516 | €640,483 | +€70,968 | +12.5% |
| Fixed assets | 21/28 | €326,011 | €337,275 | +€11,264 | +3.5% |
| Tangible fixed assets | 22/27 | €326,011 | €337,275 | +€11,264 | +3.5% |
| Plant, machinery and equipment | 23 | €262,139 | €261,593 | -€547 | -0.2% |
| Furniture and vehicles | 24 | €63,871 | €75,682 | +€11,811 | +18.5% |
| Current assets | 29/58 | €243,505 | €303,209 | +€59,704 | +24.5% |
| Amounts receivable within one year | 40/41 | €116,498 | €154,840 | +€38,342 | +32.9% |
| Trade receivables | 40 | €104,360 | €131,400 | +€27,040 | +25.9% |
| Other amounts receivable | 41 | €12,138 | €23,440 | +€11,302 | +93.1% |
| Cash at bank and in hand | 54/58 | €115,947 | €136,930 | +€20,983 | +18.1% |
| Deferred charges and accrued income | 490/1 | €11,060 | €11,439 | +€378 | +3.4% |
| Total equity and liabilities | 10/49 | €569,516 | €640,483 | +€70,968 | +12.5% |
| Equity | 10/15 | €442,473 | €499,267 | +€56,794 | +12.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €423,881 | €480,675 | +€56,794 | +13.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €422,022 | €478,816 | +€56,794 | +13.5% |
| Amounts payable | 17/49 | €127,043 | €141,216 | +€14,174 | +11.2% |
| Amounts payable after more than one year | 17 | - | €7,851 | +€7,851 | |
| Financial debts | 170/4 | - | €7,851 | +€7,851 | |
| Amounts payable within one year | 42/48 | €123,568 | €129,791 | +€6,223 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | - | €15,702 | +€15,702 | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €51,023 | €57,282 | +€6,259 | +12.3% |
| Suppliers | 440/4 | €51,023 | €57,282 | +€6,259 | +12.3% |
| Taxes, remuneration and social security | 45 | €25,237 | €3,160 | -€22,077 | -87.5% |
| Taxes | 450/3 | €22,518 | €2,250 | -€20,268 | -90.0% |
| Remuneration and social security | 454/9 | €2,719 | €910 | -€1,809 | -66.5% |
| Other amounts payable | 47/48 | €47,308 | €53,647 | +€6,338 | +13.4% |
| Accrued charges and deferred income | 492/3 | €3,475 | €3,574 | +€99 | +2.9% |
| Non-recurring operating income | 76A | €507 | €0 | -€507 | -100.0% |
| Remuneration, social security and pensions | 62 | €39,587 | €19,973 | -€19,614 | -49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,026 | €136,253 | +€24,227 | +21.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €5,223 | +€5,223 | |
| Other operating charges | 640/8 | €3,280 | €1,959 | -€1,321 | -40.3% |
| Non-recurring operating charges | 66A | - | €1,110 | +€1,110 | |
| Gross operating margin | 9900 | €229,843 | €244,175 | +€14,332 | +6.2% |
| Operating profit (loss) | 9901 | €74,950 | €79,657 | +€4,707 | +6.3% |
| Financial income | 75/76B | €614 | €1,691 | +€1,077 | +175.6% |
| Recurring financial income | 75 | €614 | €1,691 | +€1,077 | +175.6% |
| Financial charges | 65/66B | €4,331 | €4,889 | +€558 | +12.9% |
| Recurring financial charges | 65 | €4,331 | €4,889 | +€558 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | €71,233 | €76,459 | +€5,226 | +7.3% |
| Income taxes | 67/77 | €17,596 | €19,665 | +€2,069 | +11.8% |
| Profit (loss) for the period | 9904 | €53,637 | €56,794 | +€3,157 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €53,637 | €56,794 | +€3,157 | +5.9% |
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 12 October 2026 via checked.be.