BEFREE: 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.
BEFREE
Largest movements
- Stocks and contracts +€364,976
up €364,976 (+7,017%), from €5,201 to €370,177
- Receivables within one year +€4,828
up €4,828 (+39.6%), from €12,197 to €17,025
of which Trade receivables: +€4,538
- Short-term financial debts +€245,573
new in 2025: €245,573
- Other debts +€70,226
up €70,226 (+154%), from €45,515 to €115,741
- Debts after one year +€69,000
up €69,000, from €0 to €69,000
- Current portion of long-term debt -€15,525
down €15,525 (-100%), from €15,525 to €0
- Gross operating margin +€25,555
up €25,555, from -€21,522 to €4,033
- Other operating charges +€572
up €572 (+25.9%), from €2,204 to €2,776
- Financial charges -€381
down €381 (-40.6%), from €937 to €556
- Depreciation +€303
up €303 (+33.9%), from €895 to €1,199
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 | €39,922 | €411,749 | +€371,827 | +931% |
| Fixed assets | 21/28 | €20,942 | €19,743 | -€1,199 | -5.7% |
| Tangible fixed assets | 22/27 | €20,942 | €19,743 | -€1,199 | -5.7% |
| Land and buildings | 22 | €18,939 | €18,208 | -€731 | -3.9% |
| Furniture and vehicles | 24 | €2,003 | €1,535 | -€467 | -23.3% |
| Current assets | 29/58 | €18,980 | €392,006 | +€373,025 | +1,965% |
| Stocks and contracts in progress | 3 | €5,201 | €370,177 | +€364,976 | +7,017% |
| Stocks | 30/36 | €5,201 | €370,177 | +€364,976 | +7,017% |
| Amounts receivable within one year | 40/41 | €12,197 | €17,025 | +€4,828 | +39.6% |
| Trade receivables | 40 | €7,096 | €11,634 | +€4,538 | +63.9% |
| Other amounts receivable | 41 | €5,101 | €5,391 | +€290 | +5.7% |
| Current investments | 50/53 | - | €14 | +€14 | |
| Cash at bank and in hand | 54/58 | €262 | €3,449 | +€3,187 | +1,216% |
| Deferred charges and accrued income | 490/1 | €1,320 | €1,341 | +€20 | +1.5% |
| Total equity and liabilities | 10/49 | €39,922 | €411,749 | +€371,827 | +931% |
| Equity | 10/15 | -€23,057 | -€23,185 | -€127 | -0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,657 | -€41,785 | -€127 | -0.3% |
| Amounts payable | 17/49 | €62,980 | €434,934 | +€371,954 | +591% |
| Amounts payable after more than one year | 17 | €0 | €69,000 | +€69,000 | |
| Financial debts | 170/4 | €0 | €69,000 | +€69,000 | |
| Amounts payable within one year | 42/48 | €62,780 | €365,734 | +€302,954 | +483% |
| Current portion of amounts payable after more than one year | 42 | €15,525 | €0 | -€15,525 | -100% |
| Financial debts | 43 | - | €245,573 | +€245,573 | |
| Credit institutions | 430/8 | - | €245,573 | +€245,573 | |
| Trade debts | 44 | €892 | €2,794 | +€1,902 | +213% |
| Suppliers | 440/4 | €892 | €2,794 | +€1,902 | +213% |
| Taxes, remuneration and social security | 45 | €848 | €1,626 | +€778 | +91.8% |
| Taxes | 450/3 | €848 | €1,626 | +€778 | +91.8% |
| Other amounts payable | 47/48 | €45,515 | €115,741 | +€70,226 | +154% |
| Accrued charges and deferred income | 492/3 | €200 | €200 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €895 | €1,199 | +€303 | +33.9% |
| Other operating charges | 640/8 | €2,204 | €2,776 | +€572 | +25.9% |
| Gross operating margin | 9900 | -€21,522 | €4,033 | +€25,555 | |
| Operating profit (loss) | 9901 | -€24,622 | €58 | +€24,680 | |
| Financial income | 75/76B | €239 | €371 | +€132 | +55.1% |
| Recurring financial income | 75 | €239 | €371 | +€132 | +55.1% |
| Financial charges | 65/66B | €937 | €556 | -€381 | -40.6% |
| Recurring financial charges | 65 | €937 | €556 | -€381 | -40.6% |
| Profit (loss) for the period before taxes | 9903 | -€25,320 | -€127 | +€25,193 | +99.5% |
| Profit (loss) for the period | 9904 | -€25,320 | -€127 | +€25,193 | +99.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,320 | -€127 | +€25,193 | +99.5% |
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 13 October 2026 via checked.be.