BEFEKA: 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.
BEFEKA
Largest movements
- Current investments +€47,240
up €47,240 (+143%), from €33,074 to €80,314
- Cash -€29,090
down €29,090 (-49.6%), from €58,604 to €29,514
mainly Contributions, distributions and other (-€72,249) and Current investments (-€47,240)
- Tangible fixed assets -€11,609
down €11,609 (-2.9%), from €399,589 to €387,980
of which Land and buildings: -€16,142
- Receivables within one year +€7,861
up €7,861 (+37.6%), from €20,935 to €28,796
of which Other amounts receivable: +€8,522
- Other debts +€70,273
up €70,273 (+156%), from €45,089 to €115,362
- Reserves -€45,514
down €45,514 (-25.1%), from €181,690 to €136,176
- Debts after one year -€20,746
down €20,746 (-17.3%), from €120,223 to €99,477
- Current portion of long-term debt +€8,069
up €8,069 (+39.5%), from €20,414 to €28,484
- Gross operating margin +€13,551
up €13,551 (+27.9%), from €48,596 to €62,147
- Taxes +€2,193
up €2,193 (+26.6%), from €8,260 to €10,453
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 | €512,650 | €527,351 | +€14,701 | +2.9% |
| Fixed assets | 21/28 | €399,589 | €387,980 | -€11,609 | -2.9% |
| Tangible fixed assets | 22/27 | €399,589 | €387,980 | -€11,609 | -2.9% |
| Land and buildings | 22 | €397,165 | €381,023 | -€16,142 | -4.1% |
| Plant, machinery and equipment | 23 | €1,787 | €6,848 | +€5,061 | +283% |
| Furniture and vehicles | 24 | €637 | €108 | -€529 | -83.0% |
| Current assets | 29/58 | €113,061 | €139,372 | +€26,310 | +23.3% |
| Amounts receivable within one year | 40/41 | €20,935 | €28,796 | +€7,861 | +37.6% |
| Trade receivables | 40 | €7,212 | €6,551 | -€660 | -9.2% |
| Other amounts receivable | 41 | €13,723 | €22,244 | +€8,522 | +62.1% |
| Current investments | 50/53 | €33,074 | €80,314 | +€47,240 | +143% |
| Cash at bank and in hand | 54/58 | €58,604 | €29,514 | -€29,090 | -49.6% |
| Deferred charges and accrued income | 490/1 | €449 | €747 | +€299 | +66.6% |
| Total equity and liabilities | 10/49 | €512,650 | €527,351 | +€14,701 | +2.9% |
| Equity | 10/15 | €320,448 | €274,934 | -€45,514 | -14.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €181,690 | €136,176 | -€45,514 | -25.1% |
| Distributable reserves | 133 | €181,690 | €136,176 | -€45,514 | -25.1% |
| Profit (loss) carried forward | 14 | €120,166 | €120,166 | = | 0.0% |
| Amounts payable | 17/49 | €192,202 | €252,417 | +€60,215 | +31.3% |
| Amounts payable after more than one year | 17 | €120,223 | €99,477 | -€20,746 | -17.3% |
| Financial debts | 170/4 | €120,223 | €99,477 | -€20,746 | -17.3% |
| Amounts payable within one year | 42/48 | €68,115 | €148,774 | +€80,659 | +118% |
| Current portion of amounts payable after more than one year | 42 | €20,414 | €28,484 | +€8,069 | +39.5% |
| Financial debts | 43 | €4 | €7 | +€4 | +108% |
| Credit institutions | 430/8 | €4 | €7 | +€4 | +108% |
| Trade debts | 44 | €916 | €776 | -€140 | -15.2% |
| Suppliers | 440/4 | €916 | €776 | -€140 | -15.2% |
| Taxes, remuneration and social security | 45 | €1,692 | €4,144 | +€2,452 | +145% |
| Taxes | 450/3 | €1,692 | €4,144 | +€2,452 | +145% |
| Other amounts payable | 47/48 | €45,089 | €115,362 | +€70,273 | +156% |
| Accrued charges and deferred income | 492/3 | €3,864 | €4,166 | +€302 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,913 | €17,449 | +€536 | +3.2% |
| Other operating charges | 640/8 | €1,480 | €1,527 | +€47 | +3.2% |
| Gross operating margin | 9900 | €48,596 | €62,147 | +€13,551 | +27.9% |
| Operating profit (loss) | 9901 | €30,203 | €43,171 | +€12,968 | +42.9% |
| Financial income | 75/76B | €891 | €795 | -€96 | -10.7% |
| Recurring financial income | 75 | €891 | €795 | -€96 | -10.7% |
| Financial charges | 65/66B | €6,729 | €6,778 | +€50 | +0.7% |
| Recurring financial charges | 65 | €6,729 | €6,778 | +€50 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €24,366 | €37,188 | +€12,822 | +52.6% |
| Income taxes | 67/77 | €8,260 | €10,453 | +€2,193 | +26.6% |
| Profit (loss) for the period | 9904 | €16,106 | €26,735 | +€10,629 | +66.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,106 | €26,735 | +€10,629 | +66.0% |
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 18 October 2026 via checked.be.