BEFRA: 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.
BEFRA
Largest movements
- Cash +€1.1m
up €1.1m (+378%), from €284,378 to €1.4m
mainly Net result for the year (+€590,633) and Investment in fixed assets (net) (+€364,152)
- Tangible fixed assets -€364,152
down €364,152 (-100%), from €364,152 to €0
of which Land and buildings: -€349,928
- Deferred charges and accrued income -€47,437
no longer reported in 2025 (was €47,437)
- Reserves +€590,633
up €590,633 (+276%), from €214,219 to €804,852
of which Non-distributable reserves: +€630,801
- Tax, wage and social debts +€59,221
up €59,221 (+791%), from €7,486 to €66,707
- Gross operating margin +€802,304
up €802,304 (+1,784%), from €44,967 to €847,271
- Taxes +€253,036
up €253,036 (+9,224%), from €2,743 to €255,779
- Depreciation -€24,703
down €24,703 (-100%), from €24,703 to €0
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 | €709,996 | €1,361,671 | +€651,675 | +91.8% |
| Fixed assets | 21/28 | €364,152 | €0 | -€364,152 | -100% |
| Tangible fixed assets | 22/27 | €364,152 | €0 | -€364,152 | -100% |
| Land and buildings | 22 | €349,928 | €0 | -€349,928 | -100% |
| Plant, machinery and equipment | 23 | €9,308 | €0 | -€9,308 | -100% |
| Furniture and vehicles | 24 | €4,916 | €0 | -€4,916 | -100% |
| Current assets | 29/58 | €345,844 | €1,361,671 | +€1.0m | +294% |
| Amounts receivable within one year | 40/41 | €14,030 | €2,142 | -€11,888 | -84.7% |
| Trade receivables | 40 | €13,287 | €0 | -€13,287 | -100% |
| Other amounts receivable | 41 | €743 | €2,142 | +€1,399 | +188% |
| Cash at bank and in hand | 54/58 | €284,378 | €1,359,529 | +€1.1m | +378% |
| Deferred charges and accrued income | 490/1 | €47,437 | - | -€47,437 | |
| Total equity and liabilities | 10/49 | €709,996 | €1,361,671 | +€651,675 | +91.8% |
| Equity | 10/15 | €580,045 | €1,170,677 | +€590,632 | +102% |
| Contributions | 10/11 | €360,735 | €360,735 | -€0 | 0.0% |
| Capital | 10 | €360,735 | €360,735 | -€0 | 0.0% |
| Issued capital | 100 | €360,735 | €360,735 | -€0 | 0.0% |
| Reserves | 13 | €214,219 | €804,852 | +€590,633 | +276% |
| Non-distributable reserves | 130/1 | €174,051 | €804,852 | +€630,801 | +362% |
| Legal reserve | 130 | €174,051 | €804,852 | +€630,801 | +362% |
| Tax-exempt reserves | 132 | €40,169 | - | -€40,169 | |
| Profit (loss) carried forward | 14 | €5,090 | €5,090 | -€0 | 0.0% |
| Amounts payable | 17/49 | €129,951 | €190,994 | +€61,043 | +47.0% |
| Amounts payable after more than one year | 17 | €122,368 | €124,080 | +€1,712 | +1.4% |
| Financial debts | 170/4 | €118,200 | €124,080 | +€5,880 | +5.0% |
| Other amounts payable | 178/9 | €4,168 | €0 | -€4,168 | -100% |
| Amounts payable within one year | 42/48 | €7,583 | €66,914 | +€59,331 | +782% |
| Trade debts | 44 | - | €198 | +€198 | |
| Suppliers | 440/4 | - | €198 | +€198 | |
| Taxes, remuneration and social security | 45 | €7,486 | €66,707 | +€59,221 | +791% |
| Taxes | 450/3 | €7,486 | €66,707 | +€59,221 | +791% |
| Other amounts payable | 47/48 | €97 | €9 | -€88 | -90.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,703 | €0 | -€24,703 | -100% |
| Other operating charges | 640/8 | €3,202 | €139 | -€3,063 | -95.7% |
| Gross operating margin | 9900 | €44,967 | €847,271 | +€802,304 | +1,784% |
| Operating profit (loss) | 9901 | €17,063 | €847,132 | +€830,069 | +4,865% |
| Financial income | 75/76B | €2,476 | €7,584 | +€5,108 | +206% |
| Recurring financial income | 75 | €2,476 | €7,584 | +€5,108 | +206% |
| Financial charges | 65/66B | €7,908 | €8,304 | +€396 | +5.0% |
| Recurring financial charges | 65 | €7,908 | €8,304 | +€396 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €11,631 | €846,412 | +€834,781 | +7,177% |
| Income taxes | 67/77 | €2,743 | €255,779 | +€253,036 | +9,224% |
| Profit (loss) for the period | 9904 | €8,888 | €590,633 | +€581,745 | +6,545% |
| Transfer from tax-exempt reserves | 789 | €3,347 | €40,169 | +€36,822 | +1,100% |
| Profit (loss) for the period to be appropriated | 9905 | €12,235 | €630,802 | +€618,567 | +5,056% |
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 14 October 2026 via checked.be.