BEDOC: what changed
Two fiscal 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.
BEDOC
Largest movements
- Tangible fixed assets +€292,396
up €292,396 (+9.7%), from €3.0m to €3.3m
of which Land and buildings: +€296,155
- Receivables within one year +€43,436
up €43,436 (+22.2%), from €195,332 to €238,768
of which Trade receivables: +€52,501
- Debts after one year +€264,401
up €264,401 (+35.6%), from €741,759 to €1.0m
- Short-term financial debts -€104,999
down €104,999 (-34.3%), from €306,429 to €201,429
- Reserves +€64,100
up €64,100 (+7.9%), from €806,569 to €870,669
- Other debts +€49,010
up €49,010 (+3.2%), from €1.5m to €1.6m
- Current portion of long-term debt +€43,849
up €43,849 (+210.0%), from €20,885 to €64,734
- Depreciation +€79,123
up €79,123 (+27.0%), from €292,547 to €371,671
- Gross operating margin +€74,509
up €74,509 (+15.6%), from €477,837 to €552,346
- Taxes -€61,775
down €61,775 (-66.3%), from €93,198 to €31,423
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 | €3,531,246 | €3,841,374 | +€310,128 | +8.8% |
| Fixed assets | 21/28 | €3,008,189 | €3,300,585 | +€292,396 | +9.7% |
| Tangible fixed assets | 22/27 | €3,008,182 | €3,300,578 | +€292,396 | +9.7% |
| Land and buildings | 22 | €2,932,264 | €3,228,419 | +€296,155 | +10.1% |
| Plant, machinery and equipment | 23 | €15,049 | €15,271 | +€222 | +1.5% |
| Furniture and vehicles | 24 | €50,229 | €46,248 | -€3,981 | -7.9% |
| Other tangible fixed assets | 26 | €10,640 | €10,640 | = | 0.0% |
| Financial fixed assets | 28 | €7 | €7 | = | 0.0% |
| Current assets | 29/58 | €523,057 | €540,789 | +€17,732 | +3.4% |
| Amounts receivable within one year | 40/41 | €195,332 | €238,768 | +€43,436 | +22.2% |
| Trade receivables | 40 | €131,038 | €183,539 | +€52,501 | +40.1% |
| Other amounts receivable | 41 | €64,294 | €55,229 | -€9,065 | -14.1% |
| Cash at bank and in hand | 54/58 | €296,363 | €282,676 | -€13,686 | -4.6% |
| Deferred charges and accrued income | 490/1 | €31,362 | €19,344 | -€12,018 | -38.3% |
| Total equity and liabilities | 10/49 | €3,531,246 | €3,841,374 | +€310,128 | +8.8% |
| Equity | 10/15 | €825,644 | €889,784 | +€64,141 | +7.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €806,569 | €870,669 | +€64,100 | +7.9% |
| Distributable reserves | 133 | €806,569 | €870,669 | +€64,100 | +7.9% |
| Profit (loss) carried forward | 14 | €475 | €515 | +€41 | +8.6% |
| Amounts payable | 17/49 | €2,705,602 | €2,951,589 | +€245,987 | +9.1% |
| Amounts payable after more than one year | 17 | €741,759 | €1,006,161 | +€264,401 | +35.6% |
| Financial debts | 170/4 | €741,759 | €1,006,161 | +€264,401 | +35.6% |
| Amounts payable within one year | 42/48 | €1,963,843 | €1,945,429 | -€18,414 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €20,885 | €64,734 | +€43,849 | +210.0% |
| Financial debts | 43 | €306,429 | €201,429 | -€104,999 | -34.3% |
| Credit institutions | 430/8 | €306,429 | €201,429 | -€104,999 | -34.3% |
| Trade debts | 44 | €35,152 | €21,975 | -€13,177 | -37.5% |
| Suppliers | 440/4 | €35,152 | €21,975 | -€13,177 | -37.5% |
| Taxes, remuneration and social security | 45 | €74,063 | €80,966 | +€6,903 | +9.3% |
| Taxes | 450/3 | €74,063 | €80,966 | +€6,903 | +9.3% |
| Other amounts payable | 47/48 | €1,527,315 | €1,576,324 | +€49,010 | +3.2% |
| Non-recurring operating income | 76A | €42,447 | €108,382 | +€65,935 | +155.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €292,547 | €371,671 | +€79,123 | +27.0% |
| Other operating charges | 640/8 | €36,317 | €36,365 | +€47 | +0.1% |
| Gross operating margin | 9900 | €477,837 | €552,346 | +€74,509 | +15.6% |
| Operating profit (loss) | 9901 | €148,972 | €144,310 | -€4,662 | -3.1% |
| Financial income | 75/76B | €21 | €5 | -€16 | -77.9% |
| Recurring financial income | 75 | €21 | €5 | -€16 | -77.9% |
| Financial charges | 65/66B | €54,092 | €48,751 | -€5,341 | -9.9% |
| Recurring financial charges | 65 | €54,092 | €48,751 | -€5,341 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €94,900 | €95,564 | +€664 | +0.7% |
| Income taxes | 67/77 | €93,198 | €31,423 | -€61,775 | -66.3% |
| Profit (loss) for the period | 9904 | €1,703 | €64,141 | +€62,438 | +3667.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,703 | €64,141 | +€62,438 | +3667.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.