BEDE INVEST: what changed
What changed
BEDE INVEST
NACE 43.990, Other specialised construction activities
filed annual accounts (NBB)
Net result for the year
-€1,177
2024 · €39,743-€40,920
Equity
€485,476
2024 · €486,652-€1,177
Cash
€126,936
2024 · €240,338-€113,401
Balance sheet total
€1.8m
2024 · €1.9m-€67,705
Largest movements
Assets
- Cash -€113,401
down €113,401 (-47.2%), from €240,338 to €126,936
mainly Receivables after one year (-€76,000) and Advances received (-€50,000)
- Receivables after one year +€76,000
up €76,000 (+18.2%), from €417,000 to €493,000
- Tangible fixed assets -€55,889
down €55,889 (-5.2%), from €1.1m to €1.0m
of which Land and buildings: -€30,833
- Receivables within one year +€44,367
up €44,367 (+61.0%), from €72,782 to €117,148
of which Trade receivables: +€55,696
Equity and liabilities
- Advances received -€50,000
down €50,000 (-8.0%), from €628,881 to €578,881
- Debts after one year -€28,712
down €28,712 (-5.8%), from €491,722 to €463,010
- Trade debts +€22,486
up €22,486 (+13.3%), from €168,744 to €191,229
Income statement
- Gross operating margin -€47,000
down €47,000 (-29.9%), from €157,364 to €110,364
- Taxes -€10,552
down €10,552 (-65.3%), from €16,169 to €5,617
- Staff costs +€7,496
up €7,496 (+37.1%), from €20,204 to €27,701
- Other operating charges -€3,803
down €3,803 (-43.0%), from €8,841 to €5,037
- Financial charges +€3,239
up €3,239 (+35.1%), from €9,228 to €12,467
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.
Result 2024
€39,743
Gross operating margin
-€47,000
Staff costs
-€7,496
Depreciation
+€2,460
Other operating charges
+€3,803
Financial charges
-€3,239
Taxes
+€10,552
Result 2025
-€1,177
raises the resultlowers the result
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.
From operations
-€78,801
Investment
-€6,540
Financing
-€28,060
Cash 2024
€240,338
From operations (derived)
-€78,801
Net result for the year
-€1,177
Depreciation
+€62,429
Receivables after one year
-€76,000
Receivables within one year
-€44,367
Deferred charges and accrued income
+€18,782
Provisions
-€1,710
Trade debts
+€22,486
Tax, wage and social debts
-€9,341
Advances received
-€50,000
Other debts
+€97
Investment (derived)
-€6,540
Investment in fixed assets (net)
-€6,540
Financing
-€28,060
Debts after one year
-€28,712
Current portion of long-term debt
+€652
Cash 2025
€126,936
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,878,342 | €1,810,637 | -€67,705 | -3.6% |
| Fixed assets | 21/28 | €1,078,641 | €1,022,752 | -€55,889 | -5.2% |
| Tangible fixed assets | 22/27 | €1,078,343 | €1,022,454 | -€55,889 | -5.2% |
| Land and buildings | 22 | €920,811 | €889,977 | -€30,833 | -3.3% |
| Plant, machinery and equipment | 23 | €79,777 | €71,773 | -€8,004 | -10.0% |
| Furniture and vehicles | 24 | €70,344 | €54,700 | -€15,644 | -22.2% |
| Other tangible fixed assets | 26 | €7,411 | €6,004 | -€1,407 | -19.0% |
| Financial fixed assets | 28 | €298 | €298 | = | 0.0% |
| Current assets | 29/58 | €799,701 | €787,885 | -€11,816 | -1.5% |
| Amounts receivable after more than one year | 29 | €417,000 | €493,000 | +€76,000 | +18.2% |
| Other amounts receivable | 291 | €417,000 | €493,000 | +€76,000 | +18.2% |
| Stocks and contracts in progress | 3 | €7,416 | €7,416 | = | 0.0% |
| Contracts in progress | 37 | €7,416 | €7,416 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €72,782 | €117,148 | +€44,367 | +61.0% |
| Trade receivables | 40 | €61,335 | €117,031 | +€55,696 | +90.8% |
| Other amounts receivable | 41 | €11,446 | €117 | -€11,329 | -99.0% |
| Cash at bank and in hand | 54/58 | €240,338 | €126,936 | -€113,401 | -47.2% |
| Deferred charges and accrued income | 490/1 | €62,166 | €43,385 | -€18,782 | -30.2% |
| Total equity and liabilities | 10/49 | €1,878,342 | €1,810,637 | -€67,705 | -3.6% |
| Equity | 10/15 | €486,652 | €485,476 | -€1,177 | -0.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €141,670 | €136,540 | -€5,130 | -3.6% |
| Non-distributable reserves | 130/1 | €8,129 | €8,129 | = | 0.0% |
| Legal reserve | 130 | €8,129 | €8,129 | = | 0.0% |
| Tax-exempt reserves | 132 | €133,540 | €128,410 | -€5,130 | -3.8% |
| Profit (loss) carried forward | 14 | €283,483 | €287,436 | +€3,954 | +1.4% |
| Provisions and deferred taxes | 16 | €44,514 | €42,803 | -€1,710 | -3.8% |
| Deferred taxes | 168 | €44,514 | €42,803 | -€1,710 | -3.8% |
| Amounts payable | 17/49 | €1,347,176 | €1,282,358 | -€64,819 | -4.8% |
| Amounts payable after more than one year | 17 | €491,722 | €463,010 | -€28,712 | -5.8% |
| Financial debts | 170/4 | €491,722 | €463,010 | -€28,712 | -5.8% |
| Amounts payable within one year | 42/48 | €855,454 | €819,348 | -€36,106 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €28,060 | €28,712 | +€652 | +2.3% |
| Trade debts | 44 | €168,744 | €191,229 | +€22,486 | +13.3% |
| Suppliers | 440/4 | €168,744 | €191,229 | +€22,486 | +13.3% |
| Advances received on contracts in progress | 46 | €628,881 | €578,881 | -€50,000 | -8.0% |
| Taxes, remuneration and social security | 45 | €28,978 | €19,637 | -€9,341 | -32.2% |
| Taxes | 450/3 | €25,557 | €16,087 | -€9,470 | -37.1% |
| Remuneration and social security | 454/9 | €3,422 | €3,550 | +€128 | +3.7% |
| Other amounts payable | 47/48 | €791 | €888 | +€97 | +12.3% |
| Remuneration, social security and pensions | 62 | €20,204 | €27,701 | +€7,496 | +37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,889 | €62,429 | -€2,460 | -3.8% |
| Other operating charges | 640/8 | €8,841 | €5,037 | -€3,803 | -43.0% |
| Gross operating margin | 9900 | €157,364 | €110,364 | -€47,000 | -29.9% |
| Operating profit (loss) | 9901 | €63,430 | €15,197 | -€48,233 | -76.0% |
| Financial charges | 65/66B | €9,228 | €12,467 | +€3,239 | +35.1% |
| Recurring financial charges | 65 | €9,228 | €12,467 | +€3,239 | +35.1% |
| Profit (loss) for the period before taxes | 9903 | €54,202 | €2,730 | -€51,472 | -95.0% |
| Transfer from deferred taxes | 780 | €1,710 | €1,710 | = | 0.0% |
| Income taxes | 67/77 | €16,169 | €5,617 | -€10,552 | -65.3% |
| Profit (loss) for the period | 9904 | €39,743 | -€1,177 | -€40,920 | |
| Transfer from tax-exempt reserves | 789 | €5,130 | €5,130 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,873 | €3,954 | -€40,920 | -91.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.