BEDELEC: 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.
BEDELEC
Largest movements
- Receivables within one year -€440,689
down €440,689 (-18.3%), from €2.4m to €2.0m
of which Trade receivables: -€910,397
- Cash +€274,436
up €274,436 (+67.2%), from €408,648 to €683,084
mainly Net result for the year (+€722,179) and Debts after one year (+€600,000)
- Tangible fixed assets +€192,730
up €192,730 (+82.5%), from €233,736 to €426,467
of which Plant, machinery and equipment: +€126,240
- Current investments +€100,000
new in 2025: €100,000
- Stocks and contracts +€94,888
up €94,888 (+5.2%), from €1.8m to €1.9m
of which Contracts in progress: +€105,186
- Advances received -€621,282
down €621,282 (-55.1%), from €1.1m to €507,149
- Debts after one year +€600,000
up €600,000, from €0 to €600,000
- Reserves +€329,519
up €329,519 (+22.0%), from €1.5m to €1.8m
of which Distributable reserves: +€329,519
- Other debts +€200,000
up €200,000 (+66.7%), from €300,000 to €500,000
- Trade debts -€177,734
down €177,734 (-16.9%), from €1.1m to €872,514
- Gross operating margin +€716,236
up €716,236 (+18.8%), from €3.8m to €4.5m
- Taxes +€156,323
up €156,323 (+105.0%), from €148,921 to €305,244
- Staff costs +€115,206
up €115,206 (+3.6%), from €3.2m to €3.4m
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 | €4,885,935 | €5,107,249 | +€221,314 | +4.5% |
| Fixed assets | 21/28 | €234,158 | €427,093 | +€192,936 | +82.4% |
| Intangible fixed assets | 21 | - | €205 | +€205 | |
| Tangible fixed assets | 22/27 | €233,736 | €426,467 | +€192,730 | +82.5% |
| Plant, machinery and equipment | 23 | €26,498 | €152,738 | +€126,240 | +476.4% |
| Furniture and vehicles | 24 | €181,931 | €151,785 | -€30,145 | -16.6% |
| Other tangible fixed assets | 26 | €25,308 | €121,944 | +€96,636 | +381.8% |
| Financial fixed assets | 28 | €421 | €421 | = | 0.0% |
| Current assets | 29/58 | €4,651,777 | €4,680,156 | +€28,379 | +0.6% |
| Stocks and contracts in progress | 3 | €1,820,716 | €1,915,604 | +€94,888 | +5.2% |
| Stocks | 30/36 | €612,508 | €602,210 | -€10,298 | -1.7% |
| Contracts in progress | 37 | €1,208,208 | €1,313,394 | +€105,186 | +8.7% |
| Amounts receivable within one year | 40/41 | €2,412,669 | €1,971,980 | -€440,689 | -18.3% |
| Trade receivables | 40 | €2,412,669 | €1,502,272 | -€910,397 | -37.7% |
| Other amounts receivable | 41 | - | €469,708 | +€469,708 | |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €408,648 | €683,084 | +€274,436 | +67.2% |
| Deferred charges and accrued income | 490/1 | €9,745 | €9,489 | -€256 | -2.6% |
| Total equity and liabilities | 10/49 | €4,885,935 | €5,107,249 | +€221,314 | +4.5% |
| Equity | 10/15 | €1,561,450 | €1,897,168 | +€335,719 | +21.5% |
| Contributions | 10/11 | €61,500 | €67,700 | +€6,200 | +10.1% |
| Capital | 10 | €61,500 | €67,700 | +€6,200 | +10.1% |
| Issued capital | 100 | €61,500 | €67,700 | +€6,200 | +10.1% |
| Reserves | 13 | €1,499,950 | €1,829,468 | +€329,519 | +22.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €1,493,800 | €1,823,318 | +€329,519 | +22.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,324,485 | €3,210,081 | -€114,404 | -3.4% |
| Amounts payable after more than one year | 17 | €0 | €600,000 | +€600,000 | |
| Financial debts | 170/4 | €0 | €600,000 | +€600,000 | |
| Amounts payable within one year | 42/48 | €3,324,485 | €2,610,002 | -€714,484 | -21.5% |
| Current portion of amounts payable after more than one year | 42 | €91,362 | €133,333 | +€41,971 | +45.9% |
| Trade debts | 44 | €1,050,249 | €872,514 | -€177,734 | -16.9% |
| Suppliers | 440/4 | €1,050,249 | €872,514 | -€177,734 | -16.9% |
| Advances received on contracts in progress | 46 | €1,128,431 | €507,149 | -€621,282 | -55.1% |
| Taxes, remuneration and social security | 45 | €754,443 | €597,005 | -€157,438 | -20.9% |
| Taxes | 450/3 | €318,336 | €228,261 | -€90,076 | -28.3% |
| Remuneration and social security | 454/9 | €436,107 | €368,744 | -€67,363 | -15.4% |
| Other amounts payable | 47/48 | €300,000 | €500,000 | +€200,000 | +66.7% |
| Accrued charges and deferred income | 492/3 | €0 | €79 | +€79 | |
| Non-recurring operating income | 76A | €4,887 | €0 | -€4,887 | -100.0% |
| Remuneration, social security and pensions | 62 | €3,237,566 | €3,352,772 | +€115,206 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,479 | €88,367 | +€25,888 | +41.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€583 | €0 | +€583 | |
| Other operating charges | 640/8 | €8,411 | €20,211 | +€11,801 | +140.3% |
| Non-recurring operating charges | 66A | €692 | €3,296 | +€2,604 | +376.5% |
| Gross operating margin | 9900 | €3,812,607 | €4,528,843 | +€716,236 | +18.8% |
| Operating profit (loss) | 9901 | €504,043 | €1,064,197 | +€560,154 | +111.1% |
| Financial income | 75/76B | €6,421 | €10,773 | +€4,352 | +67.8% |
| Recurring financial income | 75 | €4,437 | €7,945 | +€3,507 | +79.0% |
| Non-recurring financial income | 76B | €1,983 | €2,829 | +€845 | +42.6% |
| Financial charges | 65/66B | €34,706 | €47,547 | +€12,841 | +37.0% |
| Recurring financial charges | 65 | €34,706 | €47,547 | +€12,841 | +37.0% |
| Profit (loss) for the period before taxes | 9903 | €475,758 | €1,027,423 | +€551,665 | +116.0% |
| Income taxes | 67/77 | €148,921 | €305,244 | +€156,323 | +105.0% |
| Profit (loss) for the period | 9904 | €326,838 | €722,179 | +€395,342 | +121.0% |
| Profit (loss) for the period to be appropriated | 9905 | €326,838 | €722,179 | +€395,342 | +121.0% |
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 9 October 2026 via checked.be.