BEN: 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.
BEN
Largest movements
- Receivables within one year +€229,522
up €229,522 (+17.7%), from €1.3m to €1.5m
of which Trade receivables: +€213,437
- Cash -€164,009
down €164,009 (-46.0%), from €356,394 to €192,384
mainly Receivables within one year (-€229,522) and Deferred charges and accrued income (-€24,969)
- Financial fixed assets -€36,868
down €36,868 (-59.2%), from €62,303 to €25,435
- Trade debts +€43,330
up €43,330 (+11.6%), from €374,088 to €417,418
- Profit (loss) carried forward +€27,798
up €27,798 (+3.0%), from -€935,381 to -€907,583
- Gross operating margin -€153,376
down €153,376 (-15.6%), from €984,456 to €831,080
- Staff costs -€74,961
down €74,961 (-9.6%), from €781,771 to €706,810
- Depreciation -€32,280
down €32,280 (-71.0%), from €45,453 to €13,173
- Financial charges +€20,214
up €20,214 (+26.7%), from €75,692 to €95,907
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 | €2,483,574 | €2,533,456 | +€49,882 | +2.0% |
| Fixed assets | 21/28 | €83,704 | €37,976 | -€45,729 | -54.6% |
| Tangible fixed assets | 22/27 | €21,402 | €12,541 | -€8,861 | -41.4% |
| Plant, machinery and equipment | 23 | €8,495 | €7,413 | -€1,081 | -12.7% |
| Other tangible fixed assets | 26 | €12,907 | €5,127 | -€7,780 | -60.3% |
| Financial fixed assets | 28 | €62,303 | €25,435 | -€36,868 | -59.2% |
| Current assets | 29/58 | €2,399,869 | €2,495,481 | +€95,611 | +4.0% |
| Stocks and contracts in progress | 3 | €359,695 | €364,825 | +€5,129 | +1.4% |
| Stocks | 30/36 | €359,695 | €364,825 | +€5,129 | +1.4% |
| Amounts receivable within one year | 40/41 | €1,299,172 | €1,528,695 | +€229,522 | +17.7% |
| Trade receivables | 40 | €1,099,605 | €1,313,042 | +€213,437 | +19.4% |
| Other amounts receivable | 41 | €199,568 | €215,653 | +€16,085 | +8.1% |
| Cash at bank and in hand | 54/58 | €356,394 | €192,384 | -€164,009 | -46.0% |
| Deferred charges and accrued income | 490/1 | €384,608 | €409,577 | +€24,969 | +6.5% |
| Total equity and liabilities | 10/49 | €2,483,574 | €2,533,456 | +€49,882 | +2.0% |
| Equity | 10/15 | €1,152,619 | €1,180,417 | +€27,798 | +2.4% |
| Contributions | 10/11 | €2,080,000 | €2,080,000 | = | 0.0% |
| Capital | 10 | €2,080,000 | €2,080,000 | = | 0.0% |
| Issued capital | 100 | €2,080,000 | €2,080,000 | = | 0.0% |
| Reserves | 13 | €8,000 | €8,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Legal reserve | 130 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€935,381 | -€907,583 | +€27,798 | +3.0% |
| Amounts payable | 17/49 | €1,330,955 | €1,353,039 | +€22,084 | +1.7% |
| Amounts payable within one year | 42/48 | €1,322,035 | €1,345,872 | +€23,837 | +1.8% |
| Financial debts | 43 | €806,297 | €790,006 | -€16,291 | -2.0% |
| Credit institutions | 430/8 | €806,297 | €790,006 | -€16,291 | -2.0% |
| Trade debts | 44 | €374,088 | €417,418 | +€43,330 | +11.6% |
| Suppliers | 440/4 | €374,088 | €417,418 | +€43,330 | +11.6% |
| Advances received on contracts in progress | 46 | €12,337 | €4,117 | -€8,220 | -66.6% |
| Taxes, remuneration and social security | 45 | €79,314 | €84,332 | +€5,018 | +6.3% |
| Taxes | 450/3 | €14,433 | €13,578 | -€855 | -5.9% |
| Remuneration and social security | 454/9 | €64,881 | €70,754 | +€5,873 | +9.1% |
| Other amounts payable | 47/48 | €50,000 | €50,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €8,919 | €7,166 | -€1,753 | -19.7% |
| Non-recurring operating income | 76A | €650 | - | -€650 | |
| Remuneration, social security and pensions | 62 | €781,771 | €706,810 | -€74,961 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,453 | €13,173 | -€32,280 | -71.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,982 | - | -€8,982 | |
| Other operating charges | 640/8 | €11,450 | €10,254 | -€1,196 | -10.4% |
| Gross operating margin | 9900 | €984,456 | €831,080 | -€153,376 | -15.6% |
| Operating profit (loss) | 9901 | €136,800 | €100,843 | -€35,957 | -26.3% |
| Financial income | 75/76B | €22,373 | €23,146 | +€773 | +3.5% |
| Recurring financial income | 75 | €22,373 | €23,146 | +€773 | +3.5% |
| Financial charges | 65/66B | €75,692 | €95,907 | +€20,214 | +26.7% |
| Recurring financial charges | 65 | €75,692 | €95,907 | +€20,214 | +26.7% |
| Profit (loss) for the period before taxes | 9903 | €83,480 | €28,082 | -€55,398 | -66.4% |
| Income taxes | 67/77 | €244 | €284 | +€40 | +16.2% |
| Profit (loss) for the period | 9904 | €83,236 | €27,798 | -€55,438 | -66.6% |
| Profit (loss) for the period to be appropriated | 9905 | €83,236 | €27,798 | -€55,438 | -66.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.