BEFINA: 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.
BEFINA
Largest movements
- Cash -€129,422
down €129,422 (-18.7%), from €693,789 to €564,367
mainly Accrued charges and deferred income (-€120,224) and Net result for the year (-€57,210)
- Tangible fixed assets -€41,350
down €41,350 (-2.7%), from €1.6m to €1.5m
- Receivables within one year -€35,558
down €35,558 (-76.3%), from €46,623 to €11,065
of which Other amounts receivable: -€44,996
- Accrued charges and deferred income -€120,224
down €120,224 (-99.0%), from €121,465 to €1,241
- Reserves -€57,210
down €57,210 (-3.2%), from €1.8m to €1.7m
of which Distributable reserves: -€43,205
- Financial charges -€230,548
down €230,548 (-98.5%), from €234,119 to €3,571
of which Non-recurring financial charges: -€185,553
- Gross operating margin -€186,404
down €186,404, from €177,130 to -€9,274
- Other operating charges -€28,895
down €28,895 (-66.6%), from €43,377 to €14,482
- Financial income +€6,311
up €6,311 (+643.7%), from €980 to €7,291
- Depreciation -€5,496
down €5,496 (-11.7%), from €46,846 to €41,350
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 | €2,880,490 | €2,699,834 | -€180,656 | -6.3% |
| Fixed assets | 21/28 | €1,556,419 | €1,515,069 | -€41,350 | -2.7% |
| Tangible fixed assets | 22/27 | €1,556,419 | €1,515,069 | -€41,350 | -2.7% |
| Land and buildings | 22 | €1,556,419 | €1,515,069 | -€41,350 | -2.7% |
| Current assets | 29/58 | €1,324,071 | €1,184,766 | -€139,305 | -10.5% |
| Stocks and contracts in progress | 3 | €581,129 | €606,992 | +€25,864 | +4.5% |
| Stocks | 30/36 | €581,129 | €606,992 | +€25,864 | +4.5% |
| Amounts receivable within one year | 40/41 | €46,623 | €11,065 | -€35,558 | -76.3% |
| Trade receivables | 40 | - | €9,438 | +€9,438 | |
| Other amounts receivable | 41 | €46,623 | €1,627 | -€44,996 | -96.5% |
| Cash at bank and in hand | 54/58 | €693,789 | €564,367 | -€129,422 | -18.7% |
| Deferred charges and accrued income | 490/1 | €2,531 | €2,342 | -€189 | -7.5% |
| Total equity and liabilities | 10/49 | €2,880,490 | €2,699,834 | -€180,656 | -6.3% |
| Equity | 10/15 | €2,624,363 | €2,567,152 | -€57,210 | -2.2% |
| Contributions | 10/11 | €826,000 | €826,000 | = | 0.0% |
| Capital | 10 | €826,000 | €826,000 | = | 0.0% |
| Issued capital | 100 | €826,000 | €826,000 | = | 0.0% |
| Revaluation surpluses | 12 | €14,128 | €14,128 | = | 0.0% |
| Reserves | 13 | €1,784,235 | €1,727,024 | -€57,210 | -3.2% |
| Non-distributable reserves | 130/1 | €85,252 | €85,252 | = | 0.0% |
| Legal reserve | 130 | €82,000 | €82,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,252 | €3,252 | = | 0.0% |
| Tax-exempt reserves | 132 | €88,296 | €74,290 | -€14,006 | -15.9% |
| Distributable reserves | 133 | €1,610,686 | €1,567,481 | -€43,205 | -2.7% |
| Provisions and deferred taxes | 16 | €28,012 | €23,343 | -€4,669 | -16.7% |
| Deferred taxes | 168 | €28,012 | €23,343 | -€4,669 | -16.7% |
| Amounts payable | 17/49 | €228,115 | €109,339 | -€118,777 | -52.1% |
| Amounts payable within one year | 42/48 | €106,651 | €108,098 | +€1,447 | +1.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €4,431 | €12,581 | +€8,149 | +183.9% |
| Suppliers | 440/4 | €4,431 | €12,581 | +€8,149 | +183.9% |
| Taxes, remuneration and social security | 45 | €6,860 | €5,770 | -€1,090 | -15.9% |
| Taxes | 450/3 | €6,860 | €5,770 | -€1,090 | -15.9% |
| Other amounts payable | 47/48 | €95,360 | €89,748 | -€5,612 | -5.9% |
| Accrued charges and deferred income | 492/3 | €121,465 | €1,241 | -€120,224 | -99.0% |
| Non-recurring operating income | 76A | €21,699 | €0 | -€21,699 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,846 | €41,350 | -€5,496 | -11.7% |
| Other operating charges | 640/8 | €43,377 | €14,482 | -€28,895 | -66.6% |
| Gross operating margin | 9900 | €177,130 | -€9,274 | -€186,404 | |
| Operating profit (loss) | 9901 | €86,907 | -€65,106 | -€152,012 | |
| Financial income | 75/76B | €980 | €7,291 | +€6,311 | +643.7% |
| Recurring financial income | 75 | €980 | €7,291 | +€6,311 | +643.7% |
| Financial charges | 65/66B | €234,119 | €3,571 | -€230,548 | -98.5% |
| Recurring financial charges | 65 | €48,566 | €3,571 | -€44,995 | -92.6% |
| Non-recurring financial charges | 66B | €185,553 | €0 | -€185,553 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€146,232 | -€61,386 | +€84,846 | +58.0% |
| Transfer from deferred taxes | 780 | €4,669 | €4,669 | = | 0.0% |
| Income taxes | 67/77 | €471 | €493 | +€22 | +4.7% |
| Profit (loss) for the period | 9904 | -€142,035 | -€57,210 | +€84,824 | +59.7% |
| Transfer from tax-exempt reserves | 789 | €14,006 | €14,006 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€128,029 | -€43,205 | +€84,824 | +66.3% |
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 9 October 2026 via checked.be.