BECE Invest: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
BECE Invest
Largest movements
- Stocks and contracts -€67,000
down €67,000 (-22.2%), from €302,000 to €235,000
- Receivables within one year +€5,151
up €5,151 (+15.5%), from €33,199 to €38,350
- Intangible fixed assets -€4,536
down €4,536 (-34.0%), from €13,324 to €8,789
- Tangible fixed assets -€4,264
down €4,264 (-25.6%), from €16,644 to €12,380
- Debts after one year -€103,668
down €103,668 (-36.2%), from €286,583 to €182,915
of which Financial debts: -€204,859
- Trade debts +€17,984
up €17,984 (+151%), from €11,890 to €29,874
- Profit (loss) carried forward +€6,760
up €6,760 (+37.3%), from -€18,099 to -€11,339
- Gross operating margin -€84,505
down €84,505 (-57.7%), from €146,412 to €61,907
- Staff costs -€39,743
down €39,743 (-61.6%), from €64,558 to €24,815
- Depreciation +€4,046
up €4,046 (+85.1%), from €4,753 to €8,800
- Other operating charges +€3,503
up €3,503 (+904%), from €387 to €3,891
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €378,843 | €304,738 | -€74,105 | -19.6% |
| Fixed assets | 21/28 | €29,969 | €21,169 | -€8,800 | -29.4% |
| Intangible fixed assets | 21 | €13,324 | €8,789 | -€4,536 | -34.0% |
| Tangible fixed assets | 22/27 | €16,644 | €12,380 | -€4,264 | -25.6% |
| Furniture and vehicles | 24 | €16,644 | €12,380 | -€4,264 | -25.6% |
| Current assets | 29/58 | €348,874 | €283,569 | -€65,305 | -18.7% |
| Stocks and contracts in progress | 3 | €302,000 | €235,000 | -€67,000 | -22.2% |
| Stocks | 30/36 | €302,000 | €235,000 | -€67,000 | -22.2% |
| Amounts receivable within one year | 40/41 | €33,199 | €38,350 | +€5,151 | +15.5% |
| Trade receivables | 40 | €33,199 | €38,350 | +€5,151 | +15.5% |
| Cash at bank and in hand | 54/58 | €13,289 | €9,838 | -€3,451 | -26.0% |
| Deferred charges and accrued income | 490/1 | €386 | €381 | -€5 | -1.4% |
| Total equity and liabilities | 10/49 | €378,843 | €304,738 | -€74,105 | -19.6% |
| Equity | 10/15 | €501 | €7,261 | +€6,760 | +1,348% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,099 | -€11,339 | +€6,760 | +37.3% |
| Amounts payable | 17/49 | €378,342 | €297,477 | -€80,865 | -21.4% |
| Amounts payable after more than one year | 17 | €286,583 | €182,915 | -€103,668 | -36.2% |
| Financial debts | 170/4 | €218,654 | €13,795 | -€204,859 | -93.7% |
| Other amounts payable | 178/9 | €67,929 | €169,120 | +€101,191 | +149% |
| Amounts payable within one year | 42/48 | €91,759 | €114,562 | +€22,804 | +24.9% |
| Current portion of amounts payable after more than one year | 42 | €49,739 | €52,393 | +€2,654 | +5.3% |
| Trade debts | 44 | €11,890 | €29,874 | +€17,984 | +151% |
| Suppliers | 440/4 | €11,890 | €29,874 | +€17,984 | +151% |
| Taxes, remuneration and social security | 45 | €30,130 | €32,295 | +€2,165 | +7.2% |
| Taxes | 450/3 | €21,126 | €20,131 | -€996 | -4.7% |
| Remuneration and social security | 454/9 | €9,004 | €12,164 | +€3,161 | +35.1% |
| Remuneration, social security and pensions | 62 | €64,558 | €24,815 | -€39,743 | -61.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,753 | €8,800 | +€4,046 | +85.1% |
| Other operating charges | 640/8 | €387 | €3,891 | +€3,503 | +904% |
| Gross operating margin | 9900 | €146,412 | €61,907 | -€84,505 | -57.7% |
| Operating profit (loss) | 9901 | €76,712 | €24,401 | -€52,312 | -68.2% |
| Financial income | 75/76B | €452 | €931 | +€479 | +106% |
| Recurring financial income | 75 | €452 | €931 | +€479 | +106% |
| Financial charges | 65/66B | €14,047 | €13,357 | -€690 | -4.9% |
| Recurring financial charges | 65 | €14,047 | €13,357 | -€690 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €63,117 | €11,975 | -€51,143 | -81.0% |
| Income taxes | 67/77 | €4,941 | €5,215 | +€274 | +5.5% |
| Profit (loss) for the period | 9904 | €58,176 | €6,760 | -€51,417 | -88.4% |
| Profit (loss) for the period to be appropriated | 9905 | €58,176 | €6,760 | -€51,417 | -88.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.