BEMACO: 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.
BEMACO
Largest movements
- Receivables within one year -€43,894
down €43,894 (-16.0%), from €274,276 to €230,382
of which Trade receivables: -€49,316
- Tangible fixed assets +€38,470
up €38,470 (+19.7%), from €195,483 to €233,953
of which Plant, machinery and equipment: +€52,732
- Stocks and contracts -€10,262
down €10,262 (-22.0%), from €46,644 to €36,382
- Reserves +€223,077
up €223,077 (+43.8%), from €508,812 to €731,889
- Profit (loss) carried forward -€210,449
down €210,449 (-99.7%), from €211,027 to €578
- Debts after one year -€16,797
down €16,797 (-27.1%), from €61,954 to €45,157
- Depreciation +€6,802
up €6,802 (+15.1%), from €45,008 to €51,810
- Financial income +€3,494
up €3,494 (+40.8%), from €8,575 to €12,069
- Gross operating margin -€3,157
down €3,157 (-2.1%), from €149,628 to €146,471
- Financial charges +€1,940
up €1,940 (+76.6%), from €2,532 to €4,473
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 | €916,588 | €910,753 | -€5,835 | -0.6% |
| Fixed assets | 21/28 | €195,618 | €234,088 | +€38,470 | +19.7% |
| Tangible fixed assets | 22/27 | €195,483 | €233,953 | +€38,470 | +19.7% |
| Plant, machinery and equipment | 23 | €124,405 | €177,138 | +€52,732 | +42.4% |
| Furniture and vehicles | 24 | €19,861 | €14,776 | -€5,085 | -25.6% |
| Other tangible fixed assets | 26 | €51,217 | €42,040 | -€9,177 | -17.9% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €720,970 | €676,665 | -€44,305 | -6.1% |
| Stocks and contracts in progress | 3 | €46,644 | €36,382 | -€10,262 | -22.0% |
| Stocks | 30/36 | €46,644 | €36,382 | -€10,262 | -22.0% |
| Amounts receivable within one year | 40/41 | €274,276 | €230,382 | -€43,894 | -16.0% |
| Trade receivables | 40 | €52,483 | €3,167 | -€49,316 | -94.0% |
| Other amounts receivable | 41 | €221,793 | €227,215 | +€5,422 | +2.4% |
| Current investments | 50/53 | €257,083 | €260,704 | +€3,620 | +1.4% |
| Cash at bank and in hand | 54/58 | €139,669 | €145,985 | +€6,316 | +4.5% |
| Deferred charges and accrued income | 490/1 | €3,297 | €3,212 | -€85 | -2.6% |
| Total equity and liabilities | 10/49 | €916,588 | €910,753 | -€5,835 | -0.6% |
| Equity | 10/15 | €768,181 | €780,809 | +€12,628 | +1.6% |
| Contributions | 10/11 | €48,342 | €48,342 | = | 0.0% |
| Reserves | 13 | €508,812 | €731,889 | +€223,077 | +43.8% |
| Distributable reserves | 133 | €508,812 | €731,889 | +€223,077 | +43.8% |
| Profit (loss) carried forward | 14 | €211,027 | €578 | -€210,449 | -99.7% |
| Amounts payable | 17/49 | €148,407 | €129,944 | -€18,463 | -12.4% |
| Amounts payable after more than one year | 17 | €61,954 | €45,157 | -€16,797 | -27.1% |
| Financial debts | 170/4 | €61,954 | €45,157 | -€16,797 | -27.1% |
| Amounts payable within one year | 42/48 | €85,788 | €83,437 | -€2,351 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €16,118 | €16,797 | +€679 | +4.2% |
| Trade debts | 44 | €16,784 | €21,525 | +€4,741 | +28.2% |
| Suppliers | 440/4 | €16,784 | €21,525 | +€4,741 | +28.2% |
| Taxes, remuneration and social security | 45 | €19,595 | €10,879 | -€8,716 | -44.5% |
| Taxes | 450/3 | €13,479 | €4,995 | -€8,484 | -62.9% |
| Remuneration and social security | 454/9 | €6,116 | €5,884 | -€231 | -3.8% |
| Other amounts payable | 47/48 | €33,291 | €34,235 | +€944 | +2.8% |
| Accrued charges and deferred income | 492/3 | €666 | €1,351 | +€685 | +103% |
| Remuneration, social security and pensions | 62 | €24,615 | €25,246 | +€631 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,008 | €51,810 | +€6,802 | +15.1% |
| Other operating charges | 640/8 | €965 | €998 | +€34 | +3.5% |
| Gross operating margin | 9900 | €149,628 | €146,471 | -€3,157 | -2.1% |
| Operating profit (loss) | 9901 | €79,040 | €68,416 | -€10,624 | -13.4% |
| Financial income | 75/76B | €8,575 | €12,069 | +€3,494 | +40.8% |
| Recurring financial income | 75 | €8,575 | €12,069 | +€3,494 | +40.8% |
| Financial charges | 65/66B | €2,532 | €4,473 | +€1,940 | +76.6% |
| Recurring financial charges | 65 | €2,532 | €4,473 | +€1,940 | +76.6% |
| Profit (loss) for the period before taxes | 9903 | €85,083 | €76,013 | -€9,070 | -10.7% |
| Income taxes | 67/77 | €21,529 | €20,435 | -€1,095 | -5.1% |
| Profit (loss) for the period | 9904 | €63,553 | €55,578 | -€7,975 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €63,553 | €55,578 | -€7,975 | -12.5% |
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 21 October 2026 via checked.be.