BEFICA: 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.
What changed
BEFICA
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€156,672
2024 · €178,014-€21,342
Equity
€960,042
2024 · €803,370+€156,672
Cash
€7,956
2024 · €10,802-€2,846
Balance sheet total
€2.8m
2024 · €2.8m+€59,198
Largest movements
Assets
- Receivables within one year +€77,779
up €77,779 (+14.2%), from €549,624 to €627,403
of which Other amounts receivable: +€88,000
Equity and liabilities
- Reserves +€156,672
up €156,672 (+26.1%), from €599,626 to €756,298
of which Distributable reserves: +€156,672
- Debts after one year -€150,113
down €150,113 (-21.3%), from €703,269 to €553,155
- Provisions +€88,082
new in 2025: €88,082
Income statement
- Financial income +€100,001
up €100,001 (+66.7%), from €149,950 to €249,951
- Provisions +€88,082
new in 2025: €88,082
- Financial charges +€31,674
up €31,674 (+54.3%), from €58,304 to €89,979
- Taxes -€10,842
down €10,842 (-27.9%), from €38,822 to €27,980
- Gross operating margin -€6,640
down €6,640 (-4.4%), from €149,856 to €143,216
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.
Result 2024
€178,014
Gross operating margin
-€6,640
Staff costs
-€3,314
Depreciation
-€2,211
Provisions
-€88,082
Other operating charges
-€264
Financial income
+€100,001
Financial charges
-€31,674
Taxes
+€10,842
Result 2025
€156,672
raises the resultlowers the result
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.
From operations
+€151,779
Investment
-€7,373
Financing
-€147,252
Cash 2024
€10,802
From operations (derived)
+€151,779
Net result for the year
+€156,672
Depreciation
+€21,554
Receivables within one year
-€77,779
Deferred charges and accrued income
+€1,554
Provisions
+€88,082
Trade debts
-€22,471
Tax, wage and social debts
-€13,114
Other debts
-€2,719
Investment (derived)
-€7,373
Investment in fixed assets (net)
-€7,373
Financing
-€147,252
Debts after one year
-€150,113
Current portion of long-term debt
+€4,473
Short-term financial debts
-€1,612
Cash 2025
€7,956
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,764,432 | €2,823,631 | +€59,198 | +2.1% |
| Fixed assets | 21/28 | €2,187,870 | €2,173,688 | -€14,181 | -0.6% |
| Tangible fixed assets | 22/27 | €70,658 | €56,477 | -€14,181 | -20.1% |
| Plant, machinery and equipment | 23 | €6,473 | €3,972 | -€2,501 | -38.6% |
| Furniture and vehicles | 24 | €7,302 | €9,481 | +€2,180 | +29.8% |
| Leasing and similar rights | 25 | €56,883 | €43,023 | -€13,860 | -24.4% |
| Financial fixed assets | 28 | €2,117,212 | €2,117,212 | = | 0.0% |
| Current assets | 29/58 | €576,563 | €649,942 | +€73,379 | +12.7% |
| Amounts receivable within one year | 40/41 | €549,624 | €627,403 | +€77,779 | +14.2% |
| Trade receivables | 40 | €19,124 | €8,903 | -€10,221 | -53.4% |
| Other amounts receivable | 41 | €530,500 | €618,500 | +€88,000 | +16.6% |
| Cash at bank and in hand | 54/58 | €10,802 | €7,956 | -€2,846 | -26.3% |
| Deferred charges and accrued income | 490/1 | €16,136 | €14,583 | -€1,554 | -9.6% |
| Total equity and liabilities | 10/49 | €2,764,432 | €2,823,631 | +€59,198 | +2.1% |
| Equity | 10/15 | €803,370 | €960,042 | +€156,672 | +19.5% |
| Contributions | 10/11 | €203,744 | €203,744 | = | 0.0% |
| Reserves | 13 | €599,626 | €756,298 | +€156,672 | +26.1% |
| Tax-exempt reserves | 132 | €6,393 | €6,393 | = | 0.0% |
| Distributable reserves | 133 | €593,233 | €749,905 | +€156,672 | +26.4% |
| Provisions and deferred taxes | 16 | - | €88,082 | +€88,082 | |
| Provisions for liabilities and charges | 160/5 | - | €88,082 | +€88,082 | |
| Other liabilities and charges | 164/5 | - | €88,082 | +€88,082 | |
| Amounts payable | 17/49 | €1,961,062 | €1,775,506 | -€185,556 | -9.5% |
| Amounts payable after more than one year | 17 | €703,269 | €553,155 | -€150,113 | -21.3% |
| Financial debts | 170/4 | €703,269 | €553,155 | -€150,113 | -21.3% |
| Amounts payable within one year | 42/48 | €1,257,793 | €1,222,350 | -€35,443 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €145,640 | €150,113 | +€4,473 | +3.1% |
| Financial debts | 43 | €5,779 | €4,167 | -€1,612 | -27.9% |
| Credit institutions | 430/8 | €5,779 | €4,167 | -€1,612 | -27.9% |
| Trade debts | 44 | €24,739 | €2,269 | -€22,471 | -90.8% |
| Suppliers | 440/4 | €24,739 | €2,269 | -€22,471 | -90.8% |
| Taxes, remuneration and social security | 45 | €41,911 | €28,797 | -€13,114 | -31.3% |
| Taxes | 450/3 | €41,911 | €28,797 | -€13,114 | -31.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,039,724 | €1,037,005 | -€2,719 | -0.3% |
| Remuneration, social security and pensions | 62 | €0 | €3,314 | +€3,314 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,343 | €21,554 | +€2,211 | +11.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €88,082 | +€88,082 | |
| Other operating charges | 640/8 | €5,322 | €5,586 | +€264 | +5.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €149,856 | €143,216 | -€6,640 | -4.4% |
| Operating profit (loss) | 9901 | €125,191 | €24,680 | -€100,511 | -80.3% |
| Financial income | 75/76B | €149,950 | €249,951 | +€100,001 | +66.7% |
| Recurring financial income | 75 | €149,950 | €249,951 | +€100,001 | +66.7% |
| Financial charges | 65/66B | €58,304 | €89,979 | +€31,674 | +54.3% |
| Recurring financial charges | 65 | €58,304 | €89,979 | +€31,674 | +54.3% |
| Profit (loss) for the period before taxes | 9903 | €216,837 | €184,652 | -€32,184 | -14.8% |
| Income taxes | 67/77 | €38,822 | €27,980 | -€10,842 | -27.9% |
| Profit (loss) for the period | 9904 | €178,014 | €156,672 | -€21,342 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €178,014 | €156,672 | -€21,342 | -12.0% |
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 15 October 2026 via checked.be.