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
- Receivables after one year +€35,339
up €35,339 (+8.8%), from €400,317 to €435,656
- Cash -€20,253
down €20,253 (-23.1%), from €87,826 to €67,573
mainly Receivables after one year (-€35,339) and Accrued charges and deferred income (-€3,144)
- Profit (loss) carried forward +€50,606
up €50,606 (+25.2%), from -€201,147 to -€150,541
- Reserves -€30,289
down €30,289 (-3.3%), from €927,343 to €897,054
of which Distributable reserves: -€30,289
- Gross operating margin +€5,881
up €5,881 (+505.9%), from €1,162 to €7,043
- Financial income +€1,946
up €1,946 (+13.5%), from €14,467 to €16,413
- Other operating charges -€600
down €600 (-20.7%), from €2,891 to €2,291
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 | €795,965 | €812,508 | +€16,544 | +2.1% |
| Fixed assets | 21/28 | €299,535 | €299,096 | -€439 | -0.1% |
| Tangible fixed assets | 22/27 | €299,535 | €299,096 | -€439 | -0.1% |
| Other tangible fixed assets | 26 | €299,535 | €299,096 | -€439 | -0.1% |
| Current assets | 29/58 | €496,430 | €513,412 | +€16,982 | +3.4% |
| Amounts receivable after more than one year | 29 | €400,317 | €435,656 | +€35,339 | +8.8% |
| Other amounts receivable | 291 | €400,317 | €435,656 | +€35,339 | +8.8% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €87,826 | €67,573 | -€20,253 | -23.1% |
| Deferred charges and accrued income | 490/1 | €8,287 | €10,183 | +€1,896 | +22.9% |
| Total equity and liabilities | 10/49 | €795,965 | €812,508 | +€16,544 | +2.1% |
| Equity | 10/15 | €782,562 | €802,879 | +€20,317 | +2.6% |
| Contributions | 10/11 | €56,366 | €56,366 | = | 0.0% |
| Reserves | 13 | €927,343 | €897,054 | -€30,289 | -3.3% |
| Non-distributable reserves | 130/1 | €5,637 | €5,637 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,637 | €5,637 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,461 | €4,461 | = | 0.0% |
| Distributable reserves | 133 | €917,245 | €886,957 | -€30,289 | -3.3% |
| Profit (loss) carried forward | 14 | -€201,147 | -€150,541 | +€50,606 | +25.2% |
| Amounts payable | 17/49 | €13,403 | €9,629 | -€3,774 | -28.2% |
| Amounts payable within one year | 42/48 | €1,873 | €1,244 | -€629 | -33.6% |
| Trade debts | 44 | €1,589 | €691 | -€898 | -56.5% |
| Suppliers | 440/4 | €1,589 | €691 | -€898 | -56.5% |
| Taxes, remuneration and social security | 45 | €284 | €553 | +€269 | +94.6% |
| Taxes | 450/3 | €284 | €553 | +€269 | +94.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €11,530 | €8,385 | -€3,144 | -27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €439 | €439 | = | 0.0% |
| Other operating charges | 640/8 | €2,891 | €2,291 | -€600 | -20.7% |
| Gross operating margin | 9900 | €1,162 | €7,043 | +€5,881 | +505.9% |
| Operating profit (loss) | 9901 | -€2,167 | €4,314 | +€6,480 | |
| Financial income | 75/76B | €14,467 | €16,413 | +€1,946 | +13.5% |
| Recurring financial income | 75 | €14,467 | €16,413 | +€1,946 | +13.5% |
| Financial charges | 65/66B | €139 | €141 | +€2 | +1.1% |
| Recurring financial charges | 65 | €139 | €141 | +€2 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €12,161 | €20,586 | +€8,425 | +69.3% |
| Income taxes | 67/77 | €284 | €269 | -€15 | -5.4% |
| Profit (loss) for the period | 9904 | €11,877 | €20,317 | +€8,441 | +71.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,877 | €20,317 | +€8,441 | +71.1% |
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 2 October 2026 via checked.be.