BEKAFIN: 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.
BEKAFIN
Largest movements
- Cash +€97,187
up €97,187 (+110%), from €88,190 to €185,377
mainly Net result for the year (+€208,848) and Depreciation (+€15,400)
- Current investments +€81,143
up €81,143 (+104%), from €77,829 to €158,973
- Tangible fixed assets -€14,515
down €14,515 (-56.0%), from €25,900 to €11,385
- Reserves +€178,142
up €178,142 (+114%), from €156,257 to €334,399
- Debts after one year -€10,847
no longer reported in 2025 (was €10,847)
- Gross operating margin +€133,251
up €133,251 (+91.0%), from €146,498 to €279,749
- Taxes +€31,155
up €31,155 (+112%), from €27,741 to €58,896
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.
Derived cash bridge
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 | €201,310 | €362,538 | +€161,228 | +80.1% |
| Fixed assets | 21/28 | €27,655 | €13,140 | -€14,515 | -52.5% |
| Tangible fixed assets | 22/27 | €25,900 | €11,385 | -€14,515 | -56.0% |
| Furniture and vehicles | 24 | €25,900 | €11,385 | -€14,515 | -56.0% |
| Financial fixed assets | 28 | €1,755 | €1,755 | = | 0.0% |
| Current assets | 29/58 | €173,655 | €349,398 | +€175,743 | +101% |
| Amounts receivable within one year | 40/41 | €7,453 | €4,863 | -€2,591 | -34.8% |
| Other amounts receivable | 41 | €7,453 | €4,863 | -€2,591 | -34.8% |
| Current investments | 50/53 | €77,829 | €158,973 | +€81,143 | +104% |
| Cash at bank and in hand | 54/58 | €88,190 | €185,377 | +€97,187 | +110% |
| Deferred charges and accrued income | 490/1 | €182 | €186 | +€4 | +2.0% |
| Total equity and liabilities | 10/49 | €201,310 | €362,538 | +€161,228 | +80.1% |
| Equity | 10/15 | €166,257 | €344,399 | +€178,142 | +107% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €156,257 | €334,399 | +€178,142 | +114% |
| Distributable reserves | 133 | €156,257 | €334,399 | +€178,142 | +114% |
| Amounts payable | 17/49 | €35,053 | €18,139 | -€16,915 | -48.3% |
| Amounts payable after more than one year | 17 | €10,847 | - | -€10,847 | |
| Financial debts | 170/4 | €10,847 | - | -€10,847 | |
| Amounts payable within one year | 42/48 | €24,206 | €18,139 | -€6,068 | -25.1% |
| Current portion of amounts payable after more than one year | 42 | €14,337 | €10,847 | -€3,490 | -24.3% |
| Trade debts | 44 | €1,587 | €1,039 | -€548 | -34.5% |
| Suppliers | 440/4 | €1,587 | €1,039 | -€548 | -34.5% |
| Taxes, remuneration and social security | 45 | €8,283 | €6,253 | -€2,030 | -24.5% |
| Taxes | 450/3 | €8,283 | €6,253 | -€2,030 | -24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,960 | €15,400 | +€440 | +2.9% |
| Other operating charges | 640/8 | €1,065 | €2,939 | +€1,873 | +176% |
| Gross operating margin | 9900 | €146,498 | €279,749 | +€133,251 | +91.0% |
| Operating profit (loss) | 9901 | €130,473 | €261,410 | +€130,937 | +100% |
| Financial income | 75/76B | €8,932 | €7,259 | -€1,673 | -18.7% |
| Recurring financial income | 75 | €8,932 | €7,259 | -€1,673 | -18.7% |
| Financial charges | 65/66B | €1,319 | €924 | -€394 | -29.9% |
| Recurring financial charges | 65 | €1,319 | €924 | -€394 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | €138,086 | €267,745 | +€129,659 | +93.9% |
| Income taxes | 67/77 | €27,741 | €58,896 | +€31,155 | +112% |
| Profit (loss) for the period | 9904 | €110,345 | €208,848 | +€98,503 | +89.3% |
| Profit (loss) for the period to be appropriated | 9905 | €110,345 | €208,848 | +€98,503 | +89.3% |
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 19 October 2026 via checked.be.