Ben David & Co: 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.
Ben David & Co
Largest movements
- Stocks and contracts +€326,468
up €326,468 (+577%), from €56,600 to €383,068
- Receivables within one year +€30,512
up €30,512 (+10.0%), from €306,633 to €337,145
of which Other amounts receivable: +€30,362
- Trade debts +€236,990
up €236,990 (+116%), from €204,365 to €441,355
- Profit (loss) carried forward +€82,440
up €82,440 (+128%), from €64,168 to €146,608
- Current portion of long-term debt +€39,257
new in 2025: €39,257
- Short-term financial debts -€39,153
no longer reported in 2025 (was €39,153)
- Tax, wage and social debts +€21,310
up €21,310 (+64.7%), from €32,916 to €54,226
of which Taxes: +€22,976
- Gross operating margin +€72,184
up €72,184 (+190%), from €38,008 to €110,192
- Taxes +€15,268
up €15,268 (+238%), from €6,409 to €21,677
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €372,402 | €736,629 | +€364,227 | +97.8% |
| Fixed assets | 21/28 | €1,384 | €918 | -€466 | -33.7% |
| Tangible fixed assets | 22/27 | €1,384 | €918 | -€466 | -33.7% |
| Plant, machinery and equipment | 23 | €1,384 | €918 | -€466 | -33.7% |
| Current assets | 29/58 | €371,018 | €735,711 | +€364,693 | +98.3% |
| Stocks and contracts in progress | 3 | €56,600 | €383,068 | +€326,468 | +577% |
| Stocks | 30/36 | €56,600 | €383,068 | +€326,468 | +577% |
| Amounts receivable within one year | 40/41 | €306,633 | €337,145 | +€30,512 | +10.0% |
| Trade receivables | 40 | €298,650 | €298,800 | +€150 | +0.1% |
| Other amounts receivable | 41 | €7,983 | €38,345 | +€30,362 | +380% |
| Cash at bank and in hand | 54/58 | €7,785 | €14,396 | +€6,611 | +84.9% |
| Deferred charges and accrued income | 490/1 | - | €1,102 | +€1,102 | |
| Total equity and liabilities | 10/49 | €372,402 | €736,629 | +€364,227 | +97.8% |
| Equity | 10/15 | €94,168 | €176,608 | +€82,440 | +87.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,168 | €146,608 | +€82,440 | +128% |
| Amounts payable | 17/49 | €278,234 | €560,021 | +€281,788 | +101% |
| Amounts payable after more than one year | 17 | - | €21,155 | +€21,155 | |
| Financial debts | 170/4 | - | €21,155 | +€21,155 | |
| Amounts payable within one year | 42/48 | €276,434 | €534,838 | +€258,405 | +93.5% |
| Current portion of amounts payable after more than one year | 42 | - | €39,257 | +€39,257 | |
| Financial debts | 43 | €39,153 | - | -€39,153 | |
| Credit institutions | 430/8 | €39,153 | - | -€39,153 | |
| Trade debts | 44 | €204,365 | €441,355 | +€236,990 | +116% |
| Suppliers | 440/4 | €204,365 | €441,355 | +€236,990 | +116% |
| Taxes, remuneration and social security | 45 | €32,916 | €54,226 | +€21,310 | +64.7% |
| Taxes | 450/3 | €31,250 | €54,226 | +€22,976 | +73.5% |
| Remuneration and social security | 454/9 | €1,666 | - | -€1,666 | |
| Accrued charges and deferred income | 492/3 | €1,800 | €4,028 | +€2,228 | +124% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €423 | €466 | +€43 | +10.2% |
| Other operating charges | 640/8 | €298 | €1,369 | +€1,071 | +360% |
| Gross operating margin | 9900 | €38,008 | €110,192 | +€72,184 | +190% |
| Operating profit (loss) | 9901 | €37,288 | €108,358 | +€71,070 | +191% |
| Financial income | 75/76B | €759 | €1,203 | +€445 | +58.6% |
| Recurring financial income | 75 | €759 | €1,203 | +€445 | +58.6% |
| Financial charges | 65/66B | €6,529 | €5,444 | -€1,085 | -16.6% |
| Recurring financial charges | 65 | €6,529 | €5,444 | -€1,085 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €31,517 | €104,117 | +€72,599 | +230% |
| Income taxes | 67/77 | €6,409 | €21,677 | +€15,268 | +238% |
| Profit (loss) for the period | 9904 | €25,108 | €82,440 | +€57,331 | +228% |
| Profit (loss) for the period to be appropriated | 9905 | €25,108 | €82,440 | +€57,331 | +228% |
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 20 October 2026 via checked.be.