Bemisal: what changed
Two fiscal 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.
Bemisal
Largest movements
- Receivables within one year +€838,200
up €838,200 (+31.5%), from €2.7m to €3.5m
of which Other amounts receivable: +€808,124
- Tangible fixed assets -€149,537
down €149,537 (-3.2%), from €4.7m to €4.5m
of which Land and buildings: -€459,120
- Reserves +€692,621
up €692,621 (+15.3%), from €4.5m to €5.2m
of which Distributable reserves: +€546,496
- Debts after one year -€100,000
down €100,000 (-30.8%), from €325,000 to €225,000
- Trade debts +€98,954
up €98,954 (+135.3%), from €73,121 to €172,075
- Gross operating margin +€853,284
up €853,284 (+1106.2%), from €77,140 to €930,423
- Other operating charges -€48,258
down €48,258 (-74.9%), from €64,439 to €16,181
- Taxes +€46,384
up €46,384, from -€3 to €46,382
- Depreciation -€38,002
down €38,002 (-19.2%), from €197,663 to €159,662
- Financial charges -€10,869
down €10,869 (-17.2%), from €63,258 to €52,389
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 | €8,328,993 | €9,001,712 | +€672,719 | +8.1% |
| Fixed assets | 21/28 | €5,608,615 | €5,459,078 | -€149,537 | -2.7% |
| Tangible fixed assets | 22/27 | €4,681,030 | €4,531,492 | -€149,537 | -3.2% |
| Land and buildings | 22 | €4,277,449 | €3,818,329 | -€459,120 | -10.7% |
| Furniture and vehicles | 24 | €22,428 | €21,381 | -€1,047 | -4.7% |
| Assets under construction and advance payments | 27 | €381,153 | €691,782 | +€310,629 | +81.5% |
| Financial fixed assets | 28 | €927,585 | €927,585 | = | 0.0% |
| Current assets | 29/58 | €2,720,378 | €3,542,634 | +€822,257 | +30.2% |
| Amounts receivable within one year | 40/41 | €2,657,000 | €3,495,200 | +€838,200 | +31.5% |
| Trade receivables | 40 | €18,674 | €48,750 | +€30,076 | +161.1% |
| Other amounts receivable | 41 | €2,638,326 | €3,446,450 | +€808,124 | +30.6% |
| Cash at bank and in hand | 54/58 | €49,459 | €38,948 | -€10,511 | -21.3% |
| Deferred charges and accrued income | 490/1 | €13,919 | €8,487 | -€5,433 | -39.0% |
| Total equity and liabilities | 10/49 | €8,328,993 | €9,001,712 | +€672,719 | +8.1% |
| Equity | 10/15 | €6,519,573 | €7,212,195 | +€692,621 | +10.6% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Reserves | 13 | €4,519,573 | €5,212,195 | +€692,621 | +15.3% |
| Tax-exempt reserves | 132 | €1,385,848 | €1,531,974 | +€146,126 | +10.5% |
| Distributable reserves | 133 | €3,133,725 | €3,680,221 | +€546,496 | +17.4% |
| Provisions and deferred taxes | 16 | €518,027 | €554,970 | +€36,944 | +7.1% |
| Deferred taxes | 168 | €518,027 | €554,970 | +€36,944 | +7.1% |
| Amounts payable | 17/49 | €1,291,393 | €1,234,547 | -€56,846 | -4.4% |
| Amounts payable after more than one year | 17 | €325,000 | €225,000 | -€100,000 | -30.8% |
| Financial debts | 170/4 | €325,000 | €225,000 | -€100,000 | -30.8% |
| Amounts payable within one year | 42/48 | €896,954 | €960,789 | +€63,835 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €73,121 | €172,075 | +€98,954 | +135.3% |
| Suppliers | 440/4 | €73,121 | €172,075 | +€98,954 | +135.3% |
| Taxes, remuneration and social security | 45 | €18,600 | €28,465 | +€9,865 | +53.0% |
| Taxes | 450/3 | - | €9,015 | +€9,015 | |
| Remuneration and social security | 454/9 | €18,600 | €19,450 | +€850 | +4.6% |
| Other amounts payable | 47/48 | €705,234 | €660,250 | -€44,984 | -6.4% |
| Accrued charges and deferred income | 492/3 | €69,438 | €48,757 | -€20,681 | -29.8% |
| Non-recurring operating income | 76A | €0 | €931,063 | +€931,063 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €197,663 | €159,662 | -€38,002 | -19.2% |
| Other operating charges | 640/8 | €64,439 | €16,181 | -€48,258 | -74.9% |
| Gross operating margin | 9900 | €77,140 | €930,423 | +€853,284 | +1106.2% |
| Operating profit (loss) | 9901 | -€184,963 | €754,581 | +€939,544 | |
| Financial income | 75/76B | €71,489 | €73,755 | +€2,266 | +3.2% |
| Recurring financial income | 75 | €71,489 | €73,755 | +€2,266 | +3.2% |
| Financial charges | 65/66B | €63,258 | €52,389 | -€10,869 | -17.2% |
| Recurring financial charges | 65 | €63,258 | €52,389 | -€10,869 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | -€176,732 | €775,947 | +€952,679 | |
| Transfer from deferred taxes | 780 | €31,432 | €55,295 | +€23,863 | +75.9% |
| Transfer to deferred taxes | 680 | - | €92,239 | +€92,239 | |
| Income taxes | 67/77 | -€3 | €46,382 | +€46,384 | |
| Profit (loss) for the period | 9904 | -€145,298 | €692,621 | +€837,919 | |
| Transfer from tax-exempt reserves | 789 | €82,141 | €130,590 | +€48,449 | +59.0% |
| Transfer to tax-exempt reserves | 689 | - | €276,716 | +€276,716 | |
| Profit (loss) for the period to be appropriated | 9905 | -€63,156 | €546,496 | +€609,652 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.