Bemaq Holding: what changed
Bemaq Holding
Largest movements
- Tangible fixed assets -€15,778
down €15,778 (-64.9%), from €24,294 to €8,516
of which Furniture and vehicles: -€15,263
- Cash -€5,566
down €5,566 (-7.5%), from €73,929 to €68,363
mainly Contributions, distributions and other (-€44,411) and Tax, wage and social debts (-€16,131)
- Receivables within one year +€1,864
up €1,864 (+9.1%), from €20,507 to €22,371
of which Other amounts receivable: +€3,964
- Tax, wage and social debts -€16,131
down €16,131 (-54.8%), from €29,422 to €13,290
of which Taxes: -€16,267
- Reserves -€9,039
down €9,039 (-20.4%), from €44,411 to €35,373
- Trade debts +€2,946
up €2,946 (+55.9%), from €5,266 to €8,211
- Other debts +€2,745
up €2,745 (+13.1%), from €21,031 to €23,776
- Gross operating margin -€12,129
down €12,129 (-19.5%), from €62,358 to €50,229
- Depreciation -€3,464
down €3,464 (-44.8%), from €7,739 to €4,275
- Taxes -€2,246
down €2,246 (-18.3%), from €12,303 to €10,057
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €118,730 | €99,250 | -€19,480 | -16.4% |
| Fixed assets | 21/28 | €24,294 | €8,516 | -€15,778 | -64.9% |
| Tangible fixed assets | 22/27 | €24,294 | €8,516 | -€15,778 | -64.9% |
| Plant, machinery and equipment | 23 | €5,417 | €4,902 | -€515 | -9.5% |
| Furniture and vehicles | 24 | €18,877 | €3,615 | -€15,263 | -80.9% |
| Current assets | 29/58 | €94,436 | €90,734 | -€3,702 | -3.9% |
| Amounts receivable within one year | 40/41 | €20,507 | €22,371 | +€1,864 | +9.1% |
| Trade receivables | 40 | €18,721 | €16,621 | -€2,100 | -11.2% |
| Other amounts receivable | 41 | €1,786 | €5,750 | +€3,964 | +222% |
| Cash at bank and in hand | 54/58 | €73,929 | €68,363 | -€5,566 | -7.5% |
| Total equity and liabilities | 10/49 | €118,730 | €99,250 | -€19,480 | -16.4% |
| Equity | 10/15 | €63,011 | €53,973 | -€9,039 | -14.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,411 | €35,373 | -€9,039 | -20.4% |
| Distributable reserves | 133 | €44,411 | €35,373 | -€9,039 | -20.4% |
| Amounts payable | 17/49 | €55,719 | €45,278 | -€10,441 | -18.7% |
| Amounts payable within one year | 42/48 | €55,719 | €45,278 | -€10,441 | -18.7% |
| Trade debts | 44 | €5,266 | €8,211 | +€2,946 | +55.9% |
| Suppliers | 440/4 | €5,266 | €8,211 | +€2,946 | +55.9% |
| Taxes, remuneration and social security | 45 | €29,422 | €13,290 | -€16,131 | -54.8% |
| Taxes | 450/3 | €25,648 | €9,380 | -€16,267 | -63.4% |
| Remuneration and social security | 454/9 | €3,774 | €3,910 | +€136 | +3.6% |
| Other amounts payable | 47/48 | €21,031 | €23,776 | +€2,745 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,739 | €4,275 | -€3,464 | -44.8% |
| Other operating charges | 640/8 | - | €185 | +€185 | |
| Gross operating margin | 9900 | €62,358 | €50,229 | -€12,129 | -19.5% |
| Operating profit (loss) | 9901 | €54,619 | €45,769 | -€8,850 | -16.2% |
| Financial income | 75/76B | €296 | €109 | -€187 | -63.2% |
| Recurring financial income | 75 | €296 | €109 | -€187 | -63.2% |
| Financial charges | 65/66B | €61 | €449 | +€388 | +637% |
| Recurring financial charges | 65 | €61 | €449 | +€388 | +637% |
| Profit (loss) for the period before taxes | 9903 | €54,854 | €45,429 | -€9,425 | -17.2% |
| Income taxes | 67/77 | €12,303 | €10,057 | -€2,246 | -18.3% |
| Profit (loss) for the period | 9904 | €42,551 | €35,373 | -€7,179 | -16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €42,551 | €35,373 | -€7,179 | -16.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.