BEGENTLEMEN: 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.
BEGENTLEMEN
Largest movements
- Receivables within one year +€31,385
up €31,385 (+209.3%), from €14,998 to €46,382
of which Trade receivables: +€31,016
- Stocks and contracts +€19,966
up €19,966 (+97.8%), from €20,409 to €40,375
- Tangible fixed assets -€4,432
down €4,432 (-43.3%), from €10,242 to €5,811
of which Furniture and vehicles: -€2,917
- Cash +€3,099
up €3,099 (+54.1%), from €5,730 to €8,829
mainly Other debts (+€27,812) and Advances received (+€23,108)
- Profit (loss) carried forward -€41,251
down €41,251 (-32.2%), from -€127,952 to -€169,203
- Other debts +€27,812
up €27,812 (+25.9%), from €107,323 to €135,135
- Advances received +€23,108
new in 2025: €23,108
- Trade debts +€20,530
up €20,530 (+122.7%), from €16,735 to €37,264
- Debts after one year +€14,381
new in 2025: €14,381
- Gross operating margin -€3,997
down €3,997 (-26.6%), from -€15,040 to -€19,037
- Financial charges +€3,644
up €3,644 (+446.7%), from €816 to €4,459
- Other operating charges -€2,436
down €2,436 (-65.7%), from €3,708 to €1,272
- Staff costs -€1,726
down €1,726 (-12.5%), from €13,815 to €12,089
- Depreciation -€339
down €339 (-7.1%), from €4,771 to €4,432
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 | €51,657 | €101,704 | +€50,048 | +96.9% |
| Fixed assets | 21/28 | €10,434 | €6,003 | -€4,432 | -42.5% |
| Tangible fixed assets | 22/27 | €10,242 | €5,811 | -€4,432 | -43.3% |
| Furniture and vehicles | 24 | €5,357 | €2,440 | -€2,917 | -54.4% |
| Other tangible fixed assets | 26 | €4,886 | €3,371 | -€1,515 | -31.0% |
| Financial fixed assets | 28 | €192 | €192 | = | 0.0% |
| Current assets | 29/58 | €41,222 | €95,701 | +€54,479 | +132.2% |
| Stocks and contracts in progress | 3 | €20,409 | €40,375 | +€19,966 | +97.8% |
| Stocks | 30/36 | €20,409 | €40,375 | +€19,966 | +97.8% |
| Amounts receivable within one year | 40/41 | €14,998 | €46,382 | +€31,385 | +209.3% |
| Trade receivables | 40 | €14,632 | €45,648 | +€31,016 | +212.0% |
| Other amounts receivable | 41 | €366 | €735 | +€368 | +100.5% |
| Cash at bank and in hand | 54/58 | €5,730 | €8,829 | +€3,099 | +54.1% |
| Deferred charges and accrued income | 490/1 | €86 | €115 | +€29 | +34.4% |
| Total equity and liabilities | 10/49 | €51,657 | €101,704 | +€50,048 | +96.9% |
| Equity | 10/15 | -€109,352 | -€150,603 | -€41,251 | -37.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€127,952 | -€169,203 | -€41,251 | -32.2% |
| Amounts payable | 17/49 | €161,009 | €252,307 | +€91,298 | +56.7% |
| Amounts payable after more than one year | 17 | - | €14,381 | +€14,381 | |
| Financial debts | 170/4 | - | €14,381 | +€14,381 | |
| Amounts payable within one year | 42/48 | €161,009 | €235,673 | +€74,664 | +46.4% |
| Current portion of amounts payable after more than one year | 42 | €1,727 | €3,868 | +€2,141 | +124.0% |
| Financial debts | 43 | €2,538 | - | -€2,538 | |
| Credit institutions | 430/8 | €2,538 | - | -€2,538 | |
| Trade debts | 44 | €16,735 | €37,264 | +€20,530 | +122.7% |
| Suppliers | 440/4 | €16,735 | €37,264 | +€20,530 | +122.7% |
| Advances received on contracts in progress | 46 | - | €23,108 | +€23,108 | |
| Taxes, remuneration and social security | 45 | €32,687 | €36,298 | +€3,612 | +11.0% |
| Taxes | 450/3 | €30,508 | €35,498 | +€4,990 | +16.4% |
| Remuneration and social security | 454/9 | €2,179 | €800 | -€1,378 | -63.3% |
| Other amounts payable | 47/48 | €107,323 | €135,135 | +€27,812 | +25.9% |
| Accrued charges and deferred income | 492/3 | - | €2,253 | +€2,253 | |
| Remuneration, social security and pensions | 62 | €13,815 | €12,089 | -€1,726 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,771 | €4,432 | -€339 | -7.1% |
| Other operating charges | 640/8 | €3,708 | €1,272 | -€2,436 | -65.7% |
| Gross operating margin | 9900 | -€15,040 | -€19,037 | -€3,997 | -26.6% |
| Operating profit (loss) | 9901 | -€37,333 | -€36,830 | +€503 | +1.3% |
| Financial income | 75/76B | €10 | €42 | +€31 | +303.1% |
| Recurring financial income | 75 | €10 | €42 | +€31 | +303.1% |
| Financial charges | 65/66B | €816 | €4,459 | +€3,644 | +446.7% |
| Recurring financial charges | 65 | €816 | €4,459 | +€3,644 | +446.7% |
| Profit (loss) for the period before taxes | 9903 | -€38,138 | -€41,247 | -€3,109 | -8.2% |
| Income taxes | 67/77 | €137 | €3 | -€133 | -97.6% |
| Profit (loss) for the period | 9904 | -€38,275 | -€41,251 | -€2,976 | -7.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,275 | -€41,251 | -€2,976 | -7.8% |
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 10 October 2026 via checked.be.