BEFANA: 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.
BEFANA
Largest movements
- Cash -€55,449
down €55,449 (-61.1%), from €90,722 to €35,273
mainly Net result for the year (-€61,044) and Debts after one year (-€24,699)
- Tangible fixed assets -€25,540
down €25,540 (-15.3%), from €166,634 to €141,094
of which Plant, machinery and equipment: -€27,672
- Receivables within one year -€7,557
down €7,557 (-89.2%), from €8,470 to €913
of which Other amounts receivable: -€5,433
- Profit (loss) carried forward -€61,044
down €61,044 (-82.1%), from €74,346 to €13,302
- Debts after one year -€24,699
down €24,699 (-28.3%), from €87,416 to €62,717
- Trade debts -€7,391
down €7,391 (-33.2%), from €22,272 to €14,881
- Short-term financial debts +€3,731
up €3,731 (+18.9%), from €19,718 to €23,449
- Turnover +€601,818
new in 2025: €601,818
- Purchases and services +€442,025
new in 2025: €442,025
- Gross operating margin -€74,263
down €74,263 (-29.3%), from €253,835 to €179,573
- Staff costs +€7,432
up €7,432 (+3.8%), from €197,044 to €204,476
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 | €277,175 | €189,290 | -€87,885 | -31.7% |
| Fixed assets | 21/28 | €166,733 | €141,193 | -€25,540 | -15.3% |
| Tangible fixed assets | 22/27 | €166,634 | €141,094 | -€25,540 | -15.3% |
| Plant, machinery and equipment | 23 | €162,984 | €135,312 | -€27,672 | -17.0% |
| Furniture and vehicles | 24 | €3,650 | €5,782 | +€2,132 | +58.4% |
| Financial fixed assets | 28 | €99 | €99 | = | 0.0% |
| Current assets | 29/58 | €110,442 | €48,097 | -€62,345 | -56.5% |
| Stocks and contracts in progress | 3 | €11,056 | €11,831 | +€775 | +7.0% |
| Stocks | 30/36 | €11,056 | €11,831 | +€775 | +7.0% |
| Amounts receivable within one year | 40/41 | €8,470 | €913 | -€7,557 | -89.2% |
| Trade receivables | 40 | €2,429 | €305 | -€2,124 | -87.4% |
| Other amounts receivable | 41 | €6,042 | €608 | -€5,433 | -89.9% |
| Cash at bank and in hand | 54/58 | €90,722 | €35,273 | -€55,449 | -61.1% |
| Deferred charges and accrued income | 490/1 | €194 | €81 | -€113 | -58.2% |
| Total equity and liabilities | 10/49 | €277,175 | €189,290 | -€87,885 | -31.7% |
| Equity | 10/15 | €114,346 | €53,302 | -€61,044 | -53.4% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,346 | €13,302 | -€61,044 | -82.1% |
| Amounts payable | 17/49 | €162,829 | €135,988 | -€26,841 | -16.5% |
| Amounts payable after more than one year | 17 | €87,416 | €62,717 | -€24,699 | -28.3% |
| Financial debts | 170/4 | €87,416 | €62,717 | -€24,699 | -28.3% |
| Amounts payable within one year | 42/48 | €72,726 | €70,965 | -€1,762 | -2.4% |
| Financial debts | 43 | €19,718 | €23,449 | +€3,731 | +18.9% |
| Other loans | 439 | €19,718 | €23,449 | +€3,731 | +18.9% |
| Trade debts | 44 | €22,272 | €14,881 | -€7,391 | -33.2% |
| Suppliers | 440/4 | €22,272 | €14,881 | -€7,391 | -33.2% |
| Taxes, remuneration and social security | 45 | €30,269 | €30,326 | +€58 | +0.2% |
| Taxes | 450/3 | €24,807 | €28,422 | +€3,615 | +14.6% |
| Remuneration and social security | 454/9 | €5,462 | €1,904 | -€3,558 | -65.1% |
| Other amounts payable | 47/48 | €468 | €2,308 | +€1,841 | +393.6% |
| Accrued charges and deferred income | 492/3 | €2,687 | €2,307 | -€380 | -14.1% |
| Turnover | 70 | - | €601,818 | +€601,818 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €442,025 | +€442,025 | |
| Remuneration, social security and pensions | 62 | €197,044 | €204,476 | +€7,432 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,837 | €23,043 | +€1,206 | +5.5% |
| Other operating charges | 640/8 | €210 | €772 | +€562 | +267.7% |
| Gross operating margin | 9900 | €253,835 | €179,573 | -€74,263 | -29.3% |
| Operating profit (loss) | 9901 | €34,744 | -€48,719 | -€83,463 | |
| Financial income | 75/76B | €2 | €13 | +€11 | +656.0% |
| Recurring financial income | 75 | €2 | €13 | +€11 | +656.0% |
| Financial charges | 65/66B | €14,237 | €12,342 | -€1,895 | -13.3% |
| Recurring financial charges | 65 | €14,237 | €12,342 | -€1,895 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €20,509 | -€61,048 | -€81,557 | |
| Income taxes | 67/77 | €4,164 | -€4 | -€4,168 | |
| Profit (loss) for the period | 9904 | €16,346 | -€61,044 | -€77,389 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,346 | -€61,044 | -€77,389 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.