BEMARSO: 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.
BEMARSO
Largest movements
- Receivables within one year -€72,725
down €72,725 (-15.3%), from €475,948 to €403,223
of which Other amounts receivable: -€47,725
- Cash +€35,530
up €35,530 (+13.2%), from €269,540 to €305,071
mainly Net result for the year (+€332,844) and Receivables within one year (+€72,725)
- Reserves +€65,661
up €65,661 (+2.4%), from €2.7m to €2.8m
- Other debts -€57,393
down €57,393 (-70.9%), from €80,945 to €23,552
- Debts after one year -€46,895
down €46,895 (-14.6%), from €321,895 to €275,000
- Financial income -€9,999
down €9,999 (-5.9%), from €170,001 to €160,001
- Gross operating margin +€8,198
up €8,198 (+2.9%), from €283,334 to €291,532
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.
Cash bridge derived
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 | €3,204,368 | €3,153,586 | -€50,782 | -1.6% |
| Fixed assets | 21/28 | €2,456,392 | €2,442,602 | -€13,790 | -0.6% |
| Tangible fixed assets | 22/27 | €14,848 | €1,058 | -€13,790 | -92.9% |
| Furniture and vehicles | 24 | €14,848 | €1,058 | -€13,790 | -92.9% |
| Financial fixed assets | 28 | €2,441,545 | €2,441,545 | = | 0.0% |
| Current assets | 29/58 | €747,976 | €710,984 | -€36,993 | -4.9% |
| Amounts receivable within one year | 40/41 | €475,948 | €403,223 | -€72,725 | -15.3% |
| Trade receivables | 40 | €28,025 | €3,025 | -€25,000 | -89.2% |
| Other amounts receivable | 41 | €447,923 | €400,198 | -€47,725 | -10.7% |
| Cash at bank and in hand | 54/58 | €269,540 | €305,071 | +€35,530 | +13.2% |
| Deferred charges and accrued income | 490/1 | €2,488 | €2,690 | +€202 | +8.1% |
| Total equity and liabilities | 10/49 | €3,204,368 | €3,153,586 | -€50,782 | -1.6% |
| Equity | 10/15 | €2,732,722 | €2,798,383 | +€65,661 | +2.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,720,322 | €2,785,983 | +€65,661 | +2.4% |
| Distributable reserves | 133 | €2,720,322 | €2,785,983 | +€65,661 | +2.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €471,646 | €355,203 | -€116,443 | -24.7% |
| Amounts payable after more than one year | 17 | €321,895 | €275,000 | -€46,895 | -14.6% |
| Financial debts | 170/4 | €321,895 | €275,000 | -€46,895 | -14.6% |
| Amounts payable within one year | 42/48 | €149,751 | €80,203 | -€69,548 | -46.4% |
| Current portion of amounts payable after more than one year | 42 | €58,518 | €46,895 | -€11,622 | -19.9% |
| Trade debts | 44 | €941 | €1,242 | +€301 | +32.0% |
| Suppliers | 440/4 | €941 | €1,242 | +€301 | +32.0% |
| Taxes, remuneration and social security | 45 | €9,347 | €8,514 | -€834 | -8.9% |
| Taxes | 450/3 | €6,959 | €6,514 | -€445 | -6.4% |
| Remuneration and social security | 454/9 | €2,388 | €2,000 | -€388 | -16.3% |
| Other amounts payable | 47/48 | €80,945 | €23,552 | -€57,393 | -70.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,790 | €13,790 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,068 | €1,162 | +€94 | +8.8% |
| Gross operating margin | 9900 | €283,334 | €291,532 | +€8,198 | +2.9% |
| Operating profit (loss) | 9901 | €268,477 | €276,580 | +€8,103 | +3.0% |
| Financial income | 75/76B | €170,001 | €160,001 | -€9,999 | -5.9% |
| Recurring financial income | 75 | €170,001 | €160,001 | -€9,999 | -5.9% |
| Financial charges | 65/66B | €10,191 | €8,020 | -€2,171 | -21.3% |
| Recurring financial charges | 65 | €10,191 | €8,020 | -€2,171 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €428,286 | €428,561 | +€275 | +0.1% |
| Income taxes | 67/77 | €93,488 | €95,718 | +€2,229 | +2.4% |
| Profit (loss) for the period | 9904 | €334,798 | €332,844 | -€1,955 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €334,798 | €332,844 | -€1,955 | -0.6% |
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 9 October 2026 via checked.be.