BEKAERT: 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.
BEKAERT
Largest movements
- Cash +€112,326
up €112,326 (+27.0%), from €415,853 to €528,180
mainly Net result for the year (+€110,639) and Receivables within one year (+€35,045)
- Receivables within one year -€35,045
down €35,045 (-14.7%), from €238,680 to €203,635
of which Trade receivables: -€36,559
- Tangible fixed assets -€11,690
down €11,690 (-19.8%), from €58,901 to €47,211
of which Furniture and vehicles: -€14,750
- Reserves +€85,286
up €85,286 (+21.9%), from €389,292 to €474,578
of which Distributable reserves: +€85,286
- Other debts -€21,868
down €21,868 (-33.3%), from €65,626 to €43,758
- Trade debts +€20,589
up €20,589 (+15.2%), from €135,441 to €156,029
- Tax, wage and social debts -€9,887
down €9,887 (-25.1%), from €39,420 to €29,533
of which Taxes: -€9,193
- Staff costs -€15,006
down €15,006 (-18.9%), from €79,488 to €64,482
- Gross operating margin +€11,641
up €11,641 (+4.3%), from €270,708 to €282,349
- Taxes +€9,167
up €9,167 (+20.7%), from €44,305 to €53,471
- Financial charges -€6,180
down €6,180 (-50.4%), from €12,266 to €6,086
- Depreciation -€5,619
down €5,619 (-17.4%), from €32,358 to €26,739
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 | €730,229 | €804,349 | +€74,120 | +10.2% |
| Fixed assets | 21/28 | €59,306 | €47,616 | -€11,690 | -19.7% |
| Tangible fixed assets | 22/27 | €58,901 | €47,211 | -€11,690 | -19.8% |
| Land and buildings | 22 | €16,400 | €12,300 | -€4,100 | -25.0% |
| Plant, machinery and equipment | 23 | €12,430 | €19,589 | +€7,159 | +57.6% |
| Furniture and vehicles | 24 | €30,071 | €15,321 | -€14,750 | -49.0% |
| Financial fixed assets | 28 | €405 | €405 | = | 0.0% |
| Current assets | 29/58 | €670,923 | €756,734 | +€85,811 | +12.8% |
| Stocks and contracts in progress | 3 | €12,541 | €20,107 | +€7,567 | +60.3% |
| Stocks | 30/36 | €12,541 | €20,107 | +€7,567 | +60.3% |
| Amounts receivable within one year | 40/41 | €238,680 | €203,635 | -€35,045 | -14.7% |
| Trade receivables | 40 | €236,360 | €199,801 | -€36,559 | -15.5% |
| Other amounts receivable | 41 | €2,320 | €3,834 | +€1,514 | +65.3% |
| Cash at bank and in hand | 54/58 | €415,853 | €528,180 | +€112,326 | +27.0% |
| Deferred charges and accrued income | 490/1 | €3,849 | €4,812 | +€963 | +25.0% |
| Total equity and liabilities | 10/49 | €730,229 | €804,349 | +€74,120 | +10.2% |
| Equity | 10/15 | €489,743 | €575,029 | +€85,286 | +17.4% |
| Contributions | 10/11 | €99,157 | €99,157 | = | 0.0% |
| Reserves | 13 | €389,292 | €474,578 | +€85,286 | +21.9% |
| Tax-exempt reserves | 132 | €22,000 | €22,000 | = | 0.0% |
| Distributable reserves | 133 | €367,292 | €452,578 | +€85,286 | +23.2% |
| Profit (loss) carried forward | 14 | €1,293 | €1,293 | = | 0.0% |
| Amounts payable | 17/49 | €240,486 | €229,320 | -€11,166 | -4.6% |
| Amounts payable within one year | 42/48 | €240,486 | €229,320 | -€11,166 | -4.6% |
| Trade debts | 44 | €135,441 | €156,029 | +€20,589 | +15.2% |
| Suppliers | 440/4 | €135,441 | €156,029 | +€20,589 | +15.2% |
| Taxes, remuneration and social security | 45 | €39,420 | €29,533 | -€9,887 | -25.1% |
| Taxes | 450/3 | €32,634 | €23,441 | -€9,193 | -28.2% |
| Remuneration and social security | 454/9 | €6,785 | €6,092 | -€694 | -10.2% |
| Other amounts payable | 47/48 | €65,626 | €43,758 | -€21,868 | -33.3% |
| Remuneration, social security and pensions | 62 | €79,488 | €64,482 | -€15,006 | -18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,358 | €26,739 | -€5,619 | -17.4% |
| Other operating charges | 640/8 | €12,465 | €14,889 | +€2,424 | +19.5% |
| Non-recurring operating charges | 66A | - | €8,382 | +€8,382 | |
| Gross operating margin | 9900 | €270,708 | €282,349 | +€11,641 | +4.3% |
| Operating profit (loss) | 9901 | €146,397 | €167,857 | +€21,460 | +14.7% |
| Financial income | 75/76B | €1,932 | €2,339 | +€407 | +21.1% |
| Recurring financial income | 75 | €1,932 | €2,339 | +€407 | +21.1% |
| Financial charges | 65/66B | €12,266 | €6,086 | -€6,180 | -50.4% |
| Recurring financial charges | 65 | €12,266 | €6,086 | -€6,180 | -50.4% |
| Profit (loss) for the period before taxes | 9903 | €136,064 | €164,111 | +€28,047 | +20.6% |
| Income taxes | 67/77 | €44,305 | €53,471 | +€9,167 | +20.7% |
| Profit (loss) for the period | 9904 | €91,759 | €110,639 | +€18,880 | +20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €91,759 | €110,639 | +€18,880 | +20.6% |
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 29 September 2026 via checked.be.