BEHADEROVIC: 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.
BEHADEROVIC
Largest movements
- Financial fixed assets -€750,000
down €750,000 (-100.0%), from €750,020 to €20
- Receivables after one year -€750,000
down €750,000 (-88.2%), from €850,000 to €100,000
- Current investments -€456,750
down €456,750 (-84.7%), from €539,500 to €82,751
- Cash +€43,674
up €43,674 (+14.5%), from €300,230 to €343,904
mainly Receivables after one year (+€750,000) and Investment in fixed assets (net) (+€748,424)
- Contributions -€700,000
down €700,000 (-99.1%), from €706,205 to €6,205
- Reserves -€640,140
down €640,140 (-52.2%), from €1.2m to €586,078
of which Distributable reserves: -€640,140
- Other debts -€465,300
down €465,300 (-90.0%), from €516,894 to €51,594
- Profit (loss) carried forward -€86,642
new in 2025: -€86,642
- Accrued charges and deferred income -€27,861
down €27,861 (-63.7%), from €43,761 to €15,900
- Financial income -€18,824
down €18,824 (-59.1%), from €31,837 to €13,013
- Financial charges -€16,434
down €16,434 (-36.3%), from €45,256 to €28,823
- Gross operating margin +€4,055
up €4,055 (+2.4%), from €171,900 to €175,955
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 | €2,520,638 | €596,316 | -€1.9m | -76.3% |
| Fixed assets | 21/28 | €806,072 | €46,582 | -€759,489 | -94.2% |
| Tangible fixed assets | 22/27 | €56,052 | €46,562 | -€9,489 | -16.9% |
| Land and buildings | 22 | €34,777 | €30,653 | -€4,124 | -11.9% |
| Plant, machinery and equipment | 23 | €1,655 | €2,037 | +€382 | +23.1% |
| Furniture and vehicles | 24 | €19,619 | €13,872 | -€5,747 | -29.3% |
| Financial fixed assets | 28 | €750,020 | €20 | -€750,000 | -100.0% |
| Current assets | 29/58 | €1,714,566 | €549,733 | -€1.2m | -67.9% |
| Amounts receivable after more than one year | 29 | €850,000 | €100,000 | -€750,000 | -88.2% |
| Other amounts receivable | 291 | €850,000 | €100,000 | -€750,000 | -88.2% |
| Amounts receivable within one year | 40/41 | €2,625 | €20,330 | +€17,706 | +674.5% |
| Trade receivables | 40 | - | €20,191 | +€20,191 | |
| Other amounts receivable | 41 | €2,625 | €140 | -€2,485 | -94.7% |
| Current investments | 50/53 | €539,500 | €82,751 | -€456,750 | -84.7% |
| Cash at bank and in hand | 54/58 | €300,230 | €343,904 | +€43,674 | +14.5% |
| Deferred charges and accrued income | 490/1 | €22,210 | €2,748 | -€19,463 | -87.6% |
| Total equity and liabilities | 10/49 | €2,520,638 | €596,316 | -€1.9m | -76.3% |
| Equity | 10/15 | €1,932,423 | €505,641 | -€1.4m | -73.8% |
| Contributions | 10/11 | €706,205 | €6,205 | -€700,000 | -99.1% |
| Reserves | 13 | €1,226,218 | €586,078 | -€640,140 | -52.2% |
| Non-distributable reserves | 130/1 | €136,860 | €136,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €136,860 | €136,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €168,400 | €168,400 | = | 0.0% |
| Distributable reserves | 133 | €920,958 | €280,818 | -€640,140 | -69.5% |
| Profit (loss) carried forward | 14 | - | -€86,642 | -€86,642 | |
| Amounts payable | 17/49 | €588,215 | €90,675 | -€497,540 | -84.6% |
| Amounts payable within one year | 42/48 | €544,454 | €74,775 | -€469,679 | -86.3% |
| Current portion of amounts payable after more than one year | 42 | €8,455 | - | -€8,455 | |
| Trade debts | 44 | €244 | - | -€244 | |
| Suppliers | 440/4 | €244 | - | -€244 | |
| Taxes, remuneration and social security | 45 | €18,861 | €23,181 | +€4,319 | +22.9% |
| Taxes | 450/3 | €18,861 | €23,181 | +€4,319 | +22.9% |
| Other amounts payable | 47/48 | €516,894 | €51,594 | -€465,300 | -90.0% |
| Accrued charges and deferred income | 492/3 | €43,761 | €15,900 | -€27,861 | -63.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,684 | €11,065 | +€381 | +3.6% |
| Other operating charges | 640/8 | €85 | €235 | +€149 | +175.6% |
| Non-recurring operating charges | 66A | - | €736,400 | +€736,400 | |
| Gross operating margin | 9900 | €171,900 | €175,955 | +€4,055 | +2.4% |
| Operating profit (loss) | 9901 | €161,131 | -€571,745 | -€732,876 | |
| Financial income | 75/76B | €31,837 | €13,013 | -€18,824 | -59.1% |
| Recurring financial income | 75 | €31,837 | €13,013 | -€18,824 | -59.1% |
| Financial charges | 65/66B | €45,256 | €28,823 | -€16,434 | -36.3% |
| Recurring financial charges | 65 | €45,256 | €28,823 | -€16,434 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €147,712 | -€587,555 | -€735,267 | |
| Income taxes | 67/77 | €47,330 | €48,878 | +€1,548 | +3.3% |
| Profit (loss) for the period | 9904 | €100,382 | -€636,433 | -€736,815 | |
| Transfer from tax-exempt reserves | 789 | €31,575 | - | -€31,575 | |
| Transfer to tax-exempt reserves | 689 | €42,100 | - | -€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €89,857 | -€636,433 | -€726,290 |
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 28 September 2026 via checked.be.