BEN & CHOCOLATS: 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.
What changed
BEN & CHOCOLATS
NACE 10.820, Manufacture of cocoa, chocolate and sugar confectionery
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€257,432
2024 · €475,889-€218,457
Equity
€2.7m
2024 · €2.6m+€143,138
Cash
€765,386
2024 · €559,792+€205,594
Balance sheet total
€4.2m
2024 · €4.0m+€222,695
Largest movements
Assets
- Tangible fixed assets +€209,086
up €209,086 (+7.7%), from €2.7m to €2.9m
of which Plant, machinery and equipment: +€247,129
- Cash +€205,594
up €205,594 (+36.7%), from €559,792 to €765,386
mainly Depreciation (+€299,092) and Net result for the year (+€257,432)
- Current investments -€205,000
no longer reported in 2025 (was €205,000)
- Stocks and contracts +€84,399
up €84,399 (+32.3%), from €261,044 to €345,442
- Receivables within one year -€75,658
down €75,658 (-28.5%), from €265,714 to €190,056
of which Trade receivables: -€171,445
Equity and liabilities
- Reserves +€133,815
up €133,815 (+6.3%), from €2.1m to €2.3m
of which Distributable reserves: +€135,500
- Debts after one year +€133,812
up €133,812 (+13.8%), from €968,781 to €1.1m
- Trade debts -€69,591
down €69,591 (-53.2%), from €130,713 to €61,121
Income statement
- Gross operating margin -€220,186
down €220,186 (-10.4%), from €2.1m to €1.9m
- Taxes -€118,456
down €118,456 (-56.5%), from €209,735 to €91,279
- Staff costs +€103,115
up €103,115 (+9.0%), from €1.1m to €1.2m
- Depreciation +€44,024
up €44,024 (+17.3%), from €255,067 to €299,092
- Financial income +€28,472
up €28,472 (+78.7%), from €36,198 to €64,671
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.
Result 2024
€475,889
Gross operating margin
-€220,186
Staff costs
-€103,115
Depreciation
-€44,024
Write-downs
+€3,229
Other operating charges
+€321
Other operating items
+€244
Financial income
+€28,472
Financial charges
-€1,854
Taxes
+€118,456
Result 2025
€257,432
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€464,152
Investment
-€303,178
Financing
+€44,620
Cash 2024
€559,792
From operations (derived)
+€464,152
Net result for the year
+€257,432
Depreciation
+€299,092
Stocks and contracts
-€84,399
Receivables within one year
+€75,658
Deferred charges and accrued income
-€4,275
Smaller working-capital items
-€849
Trade debts
-€69,591
Tax, wage and social debts
-€9,236
Other debts
-€3,162
Accrued charges and deferred income
+€3,481
Investment (derived)
-€303,178
Investment in fixed assets (net)
-€508,178
Current investments
+€205,000
Financing
+€44,620
Debts after one year
+€133,812
Current portion of long-term debt
+€25,102
Contributions, distributions and other
-€114,295
Cash 2025
€765,386
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,006,944 | €4,229,640 | +€222,695 | +5.6% |
| Fixed assets | 21/28 | €2,710,517 | €2,919,603 | +€209,086 | +7.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €2,698,882 | €2,907,968 | +€209,086 | +7.7% |
| Land and buildings | 22 | €1,869,038 | €1,845,768 | -€23,270 | -1.2% |
| Plant, machinery and equipment | 23 | €649,894 | €897,023 | +€247,129 | +38.0% |
| Furniture and vehicles | 24 | €94,533 | €94,445 | -€88 | -0.1% |
| Other tangible fixed assets | 26 | €85,417 | €70,733 | -€14,684 | -17.2% |
| Financial fixed assets | 28 | €11,635 | €11,635 | = | 0.0% |
| Current assets | 29/58 | €1,296,427 | €1,310,037 | +€13,609 | +1.0% |
| Stocks and contracts in progress | 3 | €261,044 | €345,442 | +€84,399 | +32.3% |
| Stocks | 30/36 | €261,044 | €345,442 | +€84,399 | +32.3% |
| Amounts receivable within one year | 40/41 | €265,714 | €190,056 | -€75,658 | -28.5% |
| Trade receivables | 40 | €261,334 | €89,889 | -€171,445 | -65.6% |
| Other amounts receivable | 41 | €4,379 | €100,167 | +€95,788 | +2,187% |
| Current investments | 50/53 | €205,000 | - | -€205,000 | |
| Cash at bank and in hand | 54/58 | €559,792 | €765,386 | +€205,594 | +36.7% |
| Deferred charges and accrued income | 490/1 | €4,878 | €9,153 | +€4,275 | +87.6% |
| Total equity and liabilities | 10/49 | €4,006,944 | €4,229,640 | +€222,695 | +5.6% |
| Equity | 10/15 | €2,574,195 | €2,717,333 | +€143,138 | +5.6% |
| Contributions | 10/11 | €192,500 | €192,500 | = | 0.0% |
| Reserves | 13 | €2,119,162 | €2,252,977 | +€133,815 | +6.3% |
| Tax-exempt reserves | 132 | €23,662 | €21,977 | -€1,685 | -7.1% |
| Distributable reserves | 133 | €2,095,500 | €2,231,000 | +€135,500 | +6.5% |
| Profit (loss) carried forward | 14 | €2,293 | €2,410 | +€117 | +5.1% |
| Investment grants | 15 | €260,240 | €269,446 | +€9,205 | +3.5% |
| Provisions and deferred taxes | 16 | €7,887 | €7,326 | -€562 | -7.1% |
| Deferred taxes | 168 | €7,887 | €7,326 | -€562 | -7.1% |
| Amounts payable | 17/49 | €1,424,862 | €1,504,981 | +€80,119 | +5.6% |
| Amounts payable after more than one year | 17 | €968,781 | €1,102,593 | +€133,812 | +13.8% |
| Financial debts | 170/4 | €968,781 | €1,102,593 | +€133,812 | +13.8% |
| Amounts payable within one year | 42/48 | €455,409 | €398,235 | -€57,174 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €121,675 | €146,777 | +€25,102 | +20.6% |
| Financial debts | 43 | €11,000 | €11,000 | = | 0.0% |
| Other loans | 439 | €11,000 | €11,000 | = | 0.0% |
| Trade debts | 44 | €130,713 | €61,121 | -€69,591 | -53.2% |
| Suppliers | 440/4 | €130,713 | €61,121 | -€69,591 | -53.2% |
| Advances received on contracts in progress | 46 | €684 | €397 | -€287 | -42.0% |
| Taxes, remuneration and social security | 45 | €180,909 | €171,672 | -€9,236 | -5.1% |
| Taxes | 450/3 | €36,347 | €36,744 | +€397 | +1.1% |
| Remuneration and social security | 454/9 | €144,562 | €134,929 | -€9,633 | -6.7% |
| Other amounts payable | 47/48 | €10,430 | €7,267 | -€3,162 | -30.3% |
| Accrued charges and deferred income | 492/3 | €672 | €4,154 | +€3,481 | +518% |
| Non-recurring operating income | 76A | €6,037 | - | -€6,037 | |
| Remuneration, social security and pensions | 62 | €1,143,461 | €1,246,576 | +€103,115 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €255,067 | €299,092 | +€44,024 | +17.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,615 | -€1,615 | -€3,229 | |
| Other operating charges | 640/8 | €17,786 | €17,465 | -€321 | -1.8% |
| Operating charges capitalised as restructuring costs | 649 | €0 | -€244 | -€244 | |
| Gross operating margin | 9900 | €2,120,026 | €1,899,840 | -€220,186 | -10.4% |
| Operating profit (loss) | 9901 | €702,098 | €338,567 | -€363,531 | -51.8% |
| Financial income | 75/76B | €36,198 | €64,671 | +€28,472 | +78.7% |
| Recurring financial income | 75 | €36,198 | €64,671 | +€28,472 | +78.7% |
| Financial charges | 65/66B | €53,234 | €55,088 | +€1,854 | +3.5% |
| Recurring financial charges | 65 | €53,234 | €55,088 | +€1,854 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €685,062 | €348,149 | -€336,913 | -49.2% |
| Transfer from deferred taxes | 780 | €562 | €562 | = | 0.0% |
| Income taxes | 67/77 | €209,735 | €91,279 | -€118,456 | -56.5% |
| Profit (loss) for the period | 9904 | €475,889 | €257,432 | -€218,457 | -45.9% |
| Transfer from tax-exempt reserves | 789 | €1,685 | €1,685 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €477,574 | €259,117 | -€218,457 | -45.7% |
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 25 October 2026 via checked.be.