BEKARO: 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.
BEKARO
Largest movements
- Stocks and contracts -€1.8m
no longer reported in 2025 (was €1.8m)
- Tangible fixed assets +€1.7m
up €1.7m (+151%), from €1.1m to €2.7m
of which Land and buildings: +€1.6m
- Cash +€263,984
up €263,984 (+553%), from €47,777 to €311,761
mainly Stocks and contracts (+€1.8m) and Receivables within one year (+€240,224)
- Receivables within one year -€240,224
down €240,224 (-62.2%), from €386,345 to €146,121
of which Trade receivables: -€217,004
- Trade debts -€87,759
down €87,759 (-75.1%), from €116,804 to €29,045
- Gross operating margin +€124,951
up €124,951 (+72.2%), from €173,113 to €298,064
- Write-downs +€85,865
new in 2025: €85,865
- Depreciation +€65,756
new in 2025: €65,756
- Other operating charges +€5,981
up €5,981 (+4.4%), from €135,332 to €141,313
- Taxes -€4,923
down €4,923 (-49.7%), from €9,907 to €4,984
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 | €3,297,579 | €3,198,317 | -€99,262 | -3.0% |
| Fixed assets | 21/28 | €1,089,656 | €2,740,435 | +€1.7m | +151% |
| Tangible fixed assets | 22/27 | €1,089,656 | €2,740,435 | +€1.7m | +151% |
| Land and buildings | 22 | €1,089,656 | €2,711,835 | +€1.6m | +149% |
| Assets under construction and advance payments | 27 | - | €28,600 | +€28,600 | |
| Current assets | 29/58 | €2,207,923 | €457,882 | -€1.8m | -79.3% |
| Stocks and contracts in progress | 3 | €1,773,801 | - | -€1.8m | |
| Stocks | 30/36 | €1,773,801 | - | -€1.8m | |
| Amounts receivable within one year | 40/41 | €386,345 | €146,121 | -€240,224 | -62.2% |
| Trade receivables | 40 | €335,693 | €118,689 | -€217,004 | -64.6% |
| Other amounts receivable | 41 | €50,652 | €27,432 | -€23,220 | -45.8% |
| Cash at bank and in hand | 54/58 | €47,777 | €311,761 | +€263,984 | +553% |
| Total equity and liabilities | 10/49 | €3,297,579 | €3,198,317 | -€99,262 | -3.0% |
| Equity | 10/15 | €3,160,453 | €3,159,118 | -€1,335 | 0.0% |
| 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 | €264,622 | €264,622 | = | 0.0% |
| Non-distributable reserves | 130/1 | €264,622 | €264,622 | = | 0.0% |
| Legal reserve | 130 | €264,622 | €264,622 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,834,331 | €2,832,996 | -€1,335 | 0.0% |
| Amounts payable | 17/49 | €137,126 | €39,199 | -€97,927 | -71.4% |
| Amounts payable within one year | 42/48 | €137,126 | €39,199 | -€97,927 | -71.4% |
| Trade debts | 44 | €116,804 | €29,045 | -€87,759 | -75.1% |
| Suppliers | 440/4 | €116,804 | €29,045 | -€87,759 | -75.1% |
| Taxes, remuneration and social security | 45 | €19,905 | €9,949 | -€9,956 | -50.0% |
| Taxes | 450/3 | €19,905 | €9,949 | -€9,956 | -50.0% |
| Other amounts payable | 47/48 | €417 | €205 | -€212 | -50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €65,756 | +€65,756 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €85,865 | +€85,865 | |
| Other operating charges | 640/8 | €135,332 | €141,313 | +€5,981 | +4.4% |
| Gross operating margin | 9900 | €173,113 | €298,064 | +€124,951 | +72.2% |
| Operating profit (loss) | 9901 | €37,781 | €5,130 | -€32,651 | -86.4% |
| Financial charges | 65/66B | €1,271 | €1,481 | +€210 | +16.5% |
| Recurring financial charges | 65 | €1,271 | €1,481 | +€210 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | €36,510 | €3,649 | -€32,861 | -90.0% |
| Income taxes | 67/77 | €9,907 | €4,984 | -€4,923 | -49.7% |
| Profit (loss) for the period | 9904 | €26,603 | -€1,335 | -€27,938 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,603 | -€1,335 | -€27,938 |
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 20 October 2026 via checked.be.