BEGOFINA: 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.
BEGOFINA
Largest movements
- Current investments +€369,259
up €369,259 (+615.4%), from €60,000 to €429,259
- Tangible fixed assets -€155,251
down €155,251 (-35.9%), from €432,714 to €277,462
- Reserves +€129,652
up €129,652 (+101.9%), from €127,221 to €256,873
of which Distributable reserves: +€137,868
- Profit (loss) carried forward +€83,783
no longer reported in 2025 (was -€83,783)
- Tax, wage and social debts +€56,756
new in 2025: €56,756
- Contributions -€34,457
down €34,457 (-9.1%), from €379,029 to €344,572
- Other debts -€10,315
down €10,315 (-35.1%), from €29,364 to €19,048
- Gross operating margin +€239,899
up €239,899 (+1391.5%), from €17,240 to €257,140
- Taxes +€57,900
new in 2025: €57,900
- Depreciation -€5,810
down €5,810 (-27.1%), from €21,413 to €15,602
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 | €511,677 | €732,966 | +€221,290 | +43.2% |
| Fixed assets | 21/28 | €433,190 | €277,938 | -€155,251 | -35.8% |
| Tangible fixed assets | 22/27 | €432,714 | €277,462 | -€155,251 | -35.9% |
| Land and buildings | 22 | €432,714 | €277,462 | -€155,251 | -35.9% |
| Financial fixed assets | 28 | €476 | €476 | = | 0.0% |
| Current assets | 29/58 | €78,487 | €455,028 | +€376,541 | +479.7% |
| Amounts receivable within one year | 40/41 | €257 | €257 | = | 0.0% |
| Other amounts receivable | 41 | €257 | €257 | = | 0.0% |
| Current investments | 50/53 | €60,000 | €429,259 | +€369,259 | +615.4% |
| Cash at bank and in hand | 54/58 | €18,230 | €25,513 | +€7,282 | +39.9% |
| Total equity and liabilities | 10/49 | €511,677 | €732,966 | +€221,290 | +43.2% |
| Equity | 10/15 | €422,467 | €601,445 | +€178,978 | +42.4% |
| Contributions | 10/11 | €379,029 | €344,572 | -€34,457 | -9.1% |
| Reserves | 13 | €127,221 | €256,873 | +€129,652 | +101.9% |
| Tax-exempt reserves | 132 | €112,162 | €103,946 | -€8,217 | -7.3% |
| Distributable reserves | 133 | €15,059 | €152,927 | +€137,868 | +915.5% |
| Profit (loss) carried forward | 14 | -€83,783 | - | +€83,783 | |
| Provisions and deferred taxes | 16 | €59,846 | €55,615 | -€4,231 | -7.1% |
| Deferred taxes | 168 | €59,846 | €55,615 | -€4,231 | -7.1% |
| Amounts payable | 17/49 | €29,364 | €75,906 | +€46,543 | +158.5% |
| Amounts payable within one year | 42/48 | €29,364 | €75,906 | +€46,543 | +158.5% |
| Trade debts | 44 | - | €102 | +€102 | |
| Suppliers | 440/4 | - | €102 | +€102 | |
| Taxes, remuneration and social security | 45 | - | €56,756 | +€56,756 | |
| Taxes | 450/3 | - | €56,756 | +€56,756 | |
| Other amounts payable | 47/48 | €29,364 | €19,048 | -€10,315 | -35.1% |
| Non-recurring operating income | 76A | - | €251,057 | +€251,057 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,413 | €15,602 | -€5,810 | -27.1% |
| Other operating charges | 640/8 | €5,734 | €4,336 | -€1,398 | -24.4% |
| Non-recurring operating charges | 66A | - | €7,706 | +€7,706 | |
| Gross operating margin | 9900 | €17,240 | €257,140 | +€239,899 | +1391.5% |
| Operating profit (loss) | 9901 | -€9,906 | €229,495 | +€239,402 | |
| Financial income | 75/76B | €3,940 | €4,457 | +€517 | +13.1% |
| Recurring financial income | 75 | €3,940 | €4,457 | +€517 | +13.1% |
| Financial charges | 65/66B | €720 | €1,305 | +€585 | +81.3% |
| Recurring financial charges | 65 | €720 | €1,305 | +€585 | +81.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,686 | €232,647 | +€239,333 | |
| Transfer from deferred taxes | 780 | €4,231 | €4,231 | = | 0.0% |
| Income taxes | 67/77 | - | €57,900 | +€57,900 | |
| Profit (loss) for the period | 9904 | -€2,455 | €178,978 | +€181,433 | |
| Transfer from tax-exempt reserves | 789 | €8,217 | €8,217 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,762 | €187,195 | +€181,433 | +3149.0% |
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.