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
- Tangible fixed assets +€525,559
up €525,559 (+356%), from €147,517 to €673,076
of which Land and buildings: +€519,698
- Receivables within one year -€244,030
down €244,030 (-99.6%), from €244,911 to €880
of which Trade receivables: -€240,000
- Cash -€12,563
down €12,563 (-4.6%), from €271,824 to €259,261
mainly Contributions, distributions and other (-€700,000) and Investment in fixed assets (net) (-€607,532)
- Other debts +€571,801
new in 2025: €571,801
- Profit (loss) carried forward -€512,657
down €512,657 (-71.5%), from €717,063 to €204,406
- Debts after one year +€184,475
up €184,475 (+1,268%), from €14,554 to €199,029
of which Financial debts: +€184,605
- Current portion of long-term debt +€31,285
up €31,285 (+103%), from €30,249 to €61,534
- Gross operating margin -€167,521
down €167,521 (-41.0%), from €408,167 to €240,646
- Depreciation +€72,281
up €72,281 (+746%), from €9,692 to €81,974
- Financial charges +€44,720
up €44,720, from -€37,000 to €7,720
- Taxes -€36,661
down €36,661 (-55.2%), from €66,400 to €29,740
- Financial income +€26,938
up €26,938 (+33.6%), from €80,205 to €107,143
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 | €923,479 | €1,192,618 | +€269,139 | +29.1% |
| Fixed assets | 21/28 | €258,245 | €783,803 | +€525,559 | +204% |
| Tangible fixed assets | 22/27 | €147,517 | €673,076 | +€525,559 | +356% |
| Land and buildings | 22 | €140,056 | €659,754 | +€519,698 | +371% |
| Plant, machinery and equipment | 23 | €1,135 | €1,853 | +€718 | +63.3% |
| Furniture and vehicles | 24 | €2,326 | €7,468 | +€5,143 | +221% |
| Other tangible fixed assets | 26 | €4,000 | €4,000 | = | 0.0% |
| Financial fixed assets | 28 | €110,728 | €110,728 | = | 0.0% |
| Current assets | 29/58 | €665,235 | €408,815 | -€256,420 | -38.5% |
| Amounts receivable within one year | 40/41 | €244,911 | €880 | -€244,030 | -99.6% |
| Trade receivables | 40 | €240,000 | €0 | -€240,000 | -100% |
| Other amounts receivable | 41 | €4,911 | €880 | -€4,030 | -82.1% |
| Current investments | 50/53 | €148,500 | €148,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €271,824 | €259,261 | -€12,563 | -4.6% |
| Deferred charges and accrued income | 490/1 | - | €174 | +€174 | |
| Total equity and liabilities | 10/49 | €923,479 | €1,192,618 | +€269,139 | +29.1% |
| Equity | 10/15 | €841,421 | €324,946 | -€516,475 | -61.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €105,758 | €101,940 | -€3,817 | -3.6% |
| Tax-exempt reserves | 132 | €103,898 | €100,080 | -€3,817 | -3.7% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €717,063 | €204,406 | -€512,657 | -71.5% |
| Provisions and deferred taxes | 16 | €22,133 | €20,860 | -€1,272 | -5.7% |
| Deferred taxes | 168 | €22,133 | €20,860 | -€1,272 | -5.7% |
| Amounts payable | 17/49 | €59,926 | €846,812 | +€786,886 | +1,313% |
| Amounts payable after more than one year | 17 | €14,554 | €199,029 | +€184,475 | +1,268% |
| Financial debts | 170/4 | €14,424 | €199,029 | +€184,605 | +1,280% |
| Other amounts payable | 178/9 | €130 | €0 | -€130 | -100% |
| Amounts payable within one year | 42/48 | €45,372 | €647,784 | +€602,411 | +1,328% |
| Current portion of amounts payable after more than one year | 42 | €30,249 | €61,534 | +€31,285 | +103% |
| Trade debts | 44 | €7,654 | €5,593 | -€2,062 | -26.9% |
| Suppliers | 440/4 | €7,654 | €5,593 | -€2,062 | -26.9% |
| Taxes, remuneration and social security | 45 | €7,470 | €8,856 | +€1,387 | +18.6% |
| Taxes | 450/3 | €0 | €1,200 | +€1,200 | |
| Remuneration and social security | 454/9 | €7,470 | €7,656 | +€187 | +2.5% |
| Other amounts payable | 47/48 | - | €571,801 | +€571,801 | |
| Non-recurring operating income | 76A | €88,625 | €0 | -€88,625 | -100% |
| Remuneration, social security and pensions | 62 | €42,442 | €42,903 | +€461 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,692 | €81,974 | +€72,281 | +746% |
| Other operating charges | 640/8 | €2,237 | €3,201 | +€963 | +43.0% |
| Gross operating margin | 9900 | €408,167 | €240,646 | -€167,521 | -41.0% |
| Operating profit (loss) | 9901 | €353,795 | €112,569 | -€241,226 | -68.2% |
| Financial income | 75/76B | €80,205 | €107,143 | +€26,938 | +33.6% |
| Recurring financial income | 75 | €80,205 | €107,143 | +€26,938 | +33.6% |
| Financial charges | 65/66B | -€37,000 | €7,720 | +€44,720 | |
| Recurring financial charges | 65 | -€37,000 | €7,720 | +€44,720 | |
| Profit (loss) for the period before taxes | 9903 | €471,001 | €211,993 | -€259,008 | -55.0% |
| Transfer from deferred taxes | 780 | €24 | €1,272 | +€1,249 | +5,264% |
| Transfer to deferred taxes | 680 | €22,156 | €0 | -€22,156 | -100% |
| Income taxes | 67/77 | €66,400 | €29,740 | -€36,661 | -55.2% |
| Profit (loss) for the period | 9904 | €382,468 | €183,525 | -€198,942 | -52.0% |
| Transfer from tax-exempt reserves | 789 | €71 | €3,817 | +€3,746 | +5,265% |
| Transfer to tax-exempt reserves | 689 | €66,469 | €0 | -€66,469 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €316,070 | €187,343 | -€128,727 | -40.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.