BEGEBEL: 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.
BEGEBEL
Largest movements
- Cash +€15,271
up €15,271 (+10.7%), from €142,608 to €157,879
mainly Net result for the year (+€21,778) and Receivables within one year (+€10,471)
- Receivables within one year -€10,471
down €10,471 (-5.1%), from €203,353 to €192,883
of which Other amounts receivable: -€12,242
- Reserves +€20,000
up €20,000 (+75.5%), from €26,500 to €46,500
of which Distributable reserves: +€20,000
- Tax, wage and social debts -€12,879
down €12,879 (-16.1%), from €79,924 to €67,045
of which Remuneration and social security: -€21,114
- Trade debts -€9,782
down €9,782 (-14.2%), from €68,680 to €58,898
- Write-downs -€12,762
down €12,762 (-57.7%), from €22,135 to €9,373
- Taxes +€10,313
up €10,313 (+207%), from €4,971 to €15,284
- Other operating charges -€9,185
down €9,185 (-65.6%), from €13,993 to €4,808
- Gross operating margin -€8,258
down €8,258 (-2.6%), from €312,436 to €304,178
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 | €366,125 | €365,333 | -€791 | -0.2% |
| Fixed assets | 21/28 | €15,857 | €13,902 | -€1,955 | -12.3% |
| Tangible fixed assets | 22/27 | €13,357 | €11,402 | -€1,955 | -14.6% |
| Plant, machinery and equipment | 23 | €3,038 | €2,654 | -€384 | -12.7% |
| Furniture and vehicles | 24 | €10,319 | €8,749 | -€1,570 | -15.2% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €350,268 | €351,431 | +€1,163 | +0.3% |
| Amounts receivable within one year | 40/41 | €203,353 | €192,883 | -€10,471 | -5.1% |
| Trade receivables | 40 | €189,733 | €191,505 | +€1,772 | +0.9% |
| Other amounts receivable | 41 | €13,620 | €1,378 | -€12,242 | -89.9% |
| Cash at bank and in hand | 54/58 | €142,608 | €157,879 | +€15,271 | +10.7% |
| Deferred charges and accrued income | 490/1 | €4,306 | €669 | -€3,637 | -84.5% |
| Total equity and liabilities | 10/49 | €366,125 | €365,333 | -€791 | -0.2% |
| Equity | 10/15 | €210,477 | €232,255 | +€21,778 | +10.3% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €26,500 | €46,500 | +€20,000 | +75.5% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €40,000 | +€20,000 | +100% |
| Profit (loss) carried forward | 14 | €118,977 | €120,755 | +€1,778 | +1.5% |
| Amounts payable | 17/49 | €155,647 | €133,078 | -€22,569 | -14.5% |
| Amounts payable within one year | 42/48 | €153,370 | €131,455 | -€21,914 | -14.3% |
| Trade debts | 44 | €68,680 | €58,898 | -€9,782 | -14.2% |
| Suppliers | 440/4 | €68,680 | €58,898 | -€9,782 | -14.2% |
| Taxes, remuneration and social security | 45 | €79,924 | €67,045 | -€12,879 | -16.1% |
| Taxes | 450/3 | €33,843 | €42,078 | +€8,235 | +24.3% |
| Remuneration and social security | 454/9 | €46,080 | €24,967 | -€21,114 | -45.8% |
| Other amounts payable | 47/48 | €4,766 | €5,513 | +€747 | +15.7% |
| Accrued charges and deferred income | 492/3 | €2,278 | €1,623 | -€655 | -28.8% |
| Remuneration, social security and pensions | 62 | €249,665 | €252,512 | +€2,847 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,380 | €1,955 | +€575 | +41.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,135 | €9,373 | -€12,762 | -57.7% |
| Other operating charges | 640/8 | €13,993 | €4,808 | -€9,185 | -65.6% |
| Non-recurring operating charges | 66A | €16,858 | €182 | -€16,676 | -98.9% |
| Gross operating margin | 9900 | €312,436 | €304,178 | -€8,258 | -2.6% |
| Operating profit (loss) | 9901 | €8,406 | €35,349 | +€26,943 | +321% |
| Financial income | 75/76B | €16 | €2,889 | +€2,873 | +17,634% |
| Recurring financial income | 75 | €16 | €2,889 | +€2,873 | +17,634% |
| Financial charges | 65/66B | €1,288 | €1,176 | -€112 | -8.7% |
| Recurring financial charges | 65 | €1,288 | €1,176 | -€112 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €7,135 | €37,062 | +€29,927 | +419% |
| Income taxes | 67/77 | €4,971 | €15,284 | +€10,313 | +207% |
| Profit (loss) for the period | 9904 | €2,164 | €21,778 | +€19,614 | +907% |
| Profit (loss) for the period to be appropriated | 9905 | €2,164 | €21,778 | +€19,614 | +907% |
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.