BEERMAN: 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.
BEERMAN
Largest movements
- Financial fixed assets +€2.0m
up €2.0m (+37.3%), from €5.2m to €7.2m
- Receivables after one year -€624,768
down €624,768 (-12.0%), from €5.2m to €4.6m
- Receivables within one year +€211,082
up €211,082 (+1,995%), from €10,581 to €221,663
of which Other amounts receivable: +€218,489
- Other debts +€1.2m
up €1.2m (+88,377%), from €1,404 to €1.2m
- Reserves +€466,672
up €466,672 (+11.3%), from €4.1m to €4.6m
of which Distributable reserves: +€466,672
- Debts after one year -€453,675
down €453,675 (-15.0%), from €3.0m to €2.6m
- Current portion of long-term debt +€273,641
up €273,641 (+278%), from €98,367 to €372,008
- Gross operating margin -€1.2m
down €1.2m (-80.4%), from €1.4m to €283,837
- Financial income -€572,213
down €572,213 (-49.7%), from €1.2m to €578,635
- Financial charges -€103,855
down €103,855 (-26.2%), from €396,865 to €293,010
- Depreciation -€33,497
down €33,497 (-32.2%), from €104,167 to €70,670
- Taxes -€19,121
down €19,121 (-44.2%), from €43,214 to €24,093
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.
Derived cash bridge
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 | €11,434,630 | €12,947,632 | +€1.5m | +13.2% |
| Fixed assets | 21/28 | €6,108,550 | €7,995,836 | +€1.9m | +30.9% |
| Tangible fixed assets | 22/27 | €869,514 | €805,144 | -€64,370 | -7.4% |
| Land and buildings | 22 | €832,657 | €778,148 | -€54,509 | -6.5% |
| Plant, machinery and equipment | 23 | €529 | €125 | -€405 | -76.4% |
| Furniture and vehicles | 24 | €36,328 | €26,871 | -€9,457 | -26.0% |
| Financial fixed assets | 28 | €5,239,036 | €7,190,692 | +€2.0m | +37.3% |
| Current assets | 29/58 | €5,326,080 | €4,951,796 | -€374,284 | -7.0% |
| Amounts receivable after more than one year | 29 | €5,190,000 | €4,565,232 | -€624,768 | -12.0% |
| Other amounts receivable | 291 | €5,190,000 | €4,565,232 | -€624,768 | -12.0% |
| Amounts receivable within one year | 40/41 | €10,581 | €221,663 | +€211,082 | +1,995% |
| Trade receivables | 40 | €9,355 | €1,948 | -€7,407 | -79.2% |
| Other amounts receivable | 41 | €1,226 | €219,715 | +€218,489 | +17,821% |
| Cash at bank and in hand | 54/58 | €11,511 | €34,739 | +€23,228 | +202% |
| Deferred charges and accrued income | 490/1 | €113,988 | €130,163 | +€16,174 | +14.2% |
| Total equity and liabilities | 10/49 | €11,434,630 | €12,947,632 | +€1.5m | +13.2% |
| Equity | 10/15 | €6,124,612 | €6,591,284 | +€466,672 | +7.6% |
| Contributions | 10/11 | €1,996,750 | €1,996,750 | = | 0.0% |
| Reserves | 13 | €4,127,862 | €4,594,534 | +€466,672 | +11.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €9,857 | €9,857 | = | 0.0% |
| Distributable reserves | 133 | €4,118,004 | €4,584,676 | +€466,672 | +11.3% |
| Provisions and deferred taxes | 16 | €2,154,192 | €2,142,875 | -€11,317 | -0.5% |
| Provisions for liabilities and charges | 160/5 | €2,154,192 | €2,142,875 | -€11,317 | -0.5% |
| Other liabilities and charges | 164/5 | €2,154,192 | €2,142,875 | -€11,317 | -0.5% |
| Amounts payable | 17/49 | €3,155,826 | €4,213,474 | +€1.1m | +33.5% |
| Amounts payable after more than one year | 17 | €3,018,009 | €2,564,334 | -€453,675 | -15.0% |
| Financial debts | 170/4 | €3,018,009 | €2,564,334 | -€453,675 | -15.0% |
| Amounts payable within one year | 42/48 | €136,723 | €1,630,029 | +€1.5m | +1,092% |
| Current portion of amounts payable after more than one year | 42 | €98,367 | €372,008 | +€273,641 | +278% |
| Trade debts | 44 | €23,246 | €12,622 | -€10,624 | -45.7% |
| Suppliers | 440/4 | €23,246 | €12,622 | -€10,624 | -45.7% |
| Taxes, remuneration and social security | 45 | €13,706 | €3,246 | -€10,459 | -76.3% |
| Taxes | 450/3 | €13,706 | €930 | -€12,775 | -93.2% |
| Remuneration and social security | 454/9 | €0 | €2,316 | +€2,316 | |
| Other amounts payable | 47/48 | €1,404 | €1,242,153 | +€1.2m | +88,377% |
| Accrued charges and deferred income | 492/3 | €1,095 | €19,111 | +€18,016 | +1,645% |
| Remuneration, social security and pensions | 62 | €1,350 | €291 | -€1,060 | -78.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,167 | €70,670 | -€33,497 | -32.2% |
| Other operating charges | 640/8 | €12,445 | €7,735 | -€4,710 | -37.8% |
| Gross operating margin | 9900 | €1,449,764 | €283,837 | -€1.2m | -80.4% |
| Operating profit (loss) | 9901 | €1,331,802 | €205,141 | -€1.1m | -84.6% |
| Financial income | 75/76B | €1,150,848 | €578,635 | -€572,213 | -49.7% |
| Recurring financial income | 75 | €1,150,848 | €578,635 | -€572,213 | -49.7% |
| Financial charges | 65/66B | €396,865 | €293,010 | -€103,855 | -26.2% |
| Recurring financial charges | 65 | €396,865 | €293,010 | -€103,855 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €2,085,784 | €490,765 | -€1.6m | -76.5% |
| Income taxes | 67/77 | €43,214 | €24,093 | -€19,121 | -44.2% |
| Profit (loss) for the period | 9904 | €2,042,570 | €466,672 | -€1.6m | -77.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,042,570 | €466,672 | -€1.6m | -77.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.