BEGYVAL: what changed
Two fiscal 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.
BEGYVAL
Largest movements
- Tangible fixed assets -€285,195
down €285,195 (-34.7%), from €822,663 to €537,469
- Cash +€215,513
up €215,513 (+104.3%), from €206,609 to €422,121
mainly Investment in fixed assets (net) (+€215,000) and Net result for the year (+€99,925)
- Debts after one year -€81,515
down €81,515 (-34.1%), from €239,379 to €157,864
- Profit (loss) carried forward +€35,113
up €35,113 (+9.3%), from €377,358 to €412,471
- Other debts +€31,539
up €31,539 (+34.1%), from €92,398 to €123,936
- Reserves -€24,475
down €24,475 (-12.2%), from €200,432 to €175,958
of which Tax-exempt reserves: -€24,475
- Gross operating margin +€71,349
up €71,349 (+48.3%), from €147,685 to €219,034
- Taxes +€19,799
up €19,799 (+77.9%), from €25,418 to €45,217
- Financial charges -€7,516
down €7,516 (-36.5%), from €20,598 to €13,082
- Depreciation +€2,823
up €2,823 (+4.2%), from €67,371 to €70,195
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 | €1,229,761 | €1,171,839 | -€57,922 | -4.7% |
| Fixed assets | 21/28 | €822,663 | €537,469 | -€285,195 | -34.7% |
| Tangible fixed assets | 22/27 | €822,663 | €537,469 | -€285,195 | -34.7% |
| Land and buildings | 22 | €822,663 | €537,469 | -€285,195 | -34.7% |
| Current assets | 29/58 | €407,098 | €634,370 | +€227,272 | +55.8% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Other amounts receivable | 291 | €200,000 | €200,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €119 | €11,708 | +€11,589 | +9742.8% |
| Other amounts receivable | 41 | €119 | €11,708 | +€11,589 | +9742.8% |
| Cash at bank and in hand | 54/58 | €206,609 | €422,121 | +€215,513 | +104.3% |
| Deferred charges and accrued income | 490/1 | €370 | €541 | +€171 | +46.1% |
| Total equity and liabilities | 10/49 | €1,229,761 | €1,171,839 | -€57,922 | -4.7% |
| Equity | 10/15 | €639,290 | €649,929 | +€10,639 | +1.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €200,432 | €175,958 | -€24,475 | -12.2% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €194,282 | €169,808 | -€24,475 | -12.6% |
| Profit (loss) carried forward | 14 | €377,358 | €412,471 | +€35,113 | +9.3% |
| Provisions and deferred taxes | 16 | €64,761 | €56,603 | -€8,158 | -12.6% |
| Deferred taxes | 168 | €64,761 | €56,603 | -€8,158 | -12.6% |
| Amounts payable | 17/49 | €525,711 | €465,308 | -€60,403 | -11.5% |
| Amounts payable after more than one year | 17 | €239,379 | €157,864 | -€81,515 | -34.1% |
| Financial debts | 170/4 | €239,379 | €157,864 | -€81,515 | -34.1% |
| Amounts payable within one year | 42/48 | €274,332 | €307,444 | +€33,112 | +12.1% |
| Current portion of amounts payable after more than one year | 42 | €77,270 | €81,389 | +€4,119 | +5.3% |
| Trade debts | 44 | €2,868 | €5,899 | +€3,031 | +105.7% |
| Suppliers | 440/4 | €2,868 | €5,899 | +€3,031 | +105.7% |
| Taxes, remuneration and social security | 45 | €101,797 | €96,219 | -€5,578 | -5.5% |
| Taxes | 450/3 | €101,797 | €96,219 | -€5,578 | -5.5% |
| Other amounts payable | 47/48 | €92,398 | €123,936 | +€31,539 | +34.1% |
| Accrued charges and deferred income | 492/3 | €12,000 | - | -€12,000 | |
| Non-recurring operating income | 76A | - | €70,000 | +€70,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,371 | €70,195 | +€2,823 | +4.2% |
| Other operating charges | 640/8 | €12,564 | €13,407 | +€844 | +6.7% |
| Non-recurring operating charges | 66A | €58 | - | -€58 | |
| Gross operating margin | 9900 | €147,685 | €219,034 | +€71,349 | +48.3% |
| Operating profit (loss) | 9901 | €67,693 | €135,432 | +€67,739 | +100.1% |
| Financial income | 75/76B | €15,523 | €14,633 | -€890 | -5.7% |
| Recurring financial income | 75 | €15,523 | €14,633 | -€890 | -5.7% |
| Financial charges | 65/66B | €20,598 | €13,082 | -€7,516 | -36.5% |
| Recurring financial charges | 65 | €20,598 | €13,082 | -€7,516 | -36.5% |
| Profit (loss) for the period before taxes | 9903 | €62,618 | €136,984 | +€74,366 | +118.8% |
| Transfer from deferred taxes | 780 | €8,158 | €8,158 | = | 0.0% |
| Income taxes | 67/77 | €25,418 | €45,217 | +€19,799 | +77.9% |
| Profit (loss) for the period | 9904 | €45,359 | €99,925 | +€54,566 | +120.3% |
| Transfer from tax-exempt reserves | 789 | €24,475 | €24,475 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €69,833 | €124,399 | +€54,566 | +78.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.