BEN SCHEEPMANS: 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 SCHEEPMANS
Largest movements
- Tangible fixed assets +€35,900
up €35,900 (+79.6%), from €45,106 to €81,005
of which Plant, machinery and equipment: +€46,301
- Cash +€24,111
up €24,111 (+21.3%), from €113,327 to €137,438
mainly Debts after one year (+€28,262) and Depreciation (+€18,865)
- Receivables within one year -€16,691
down €16,691 (-49.6%), from €33,655 to €16,963
of which Trade receivables: -€16,691
- Receivables after one year +€11,247
up €11,247 (+167%), from €6,753 to €18,000
- Debts after one year +€28,262
new in 2025: €28,262
- Reserves +€18,320
up €18,320 (+10.9%), from €167,788 to €186,108
- Current portion of long-term debt +€5,243
up €5,243 (+233%), from €2,246 to €7,489
- Tax, wage and social debts +€5,238
up €5,238 (+125%), from €4,192 to €9,430
- Write-downs +€9,331
new in 2025: €9,331
- Taxes -€3,328
down €3,328 (-37.2%), from €8,945 to €5,616
- Financial income +€727
up €727 (+123%), from €590 to €1,318
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 | €198,841 | €253,406 | +€54,565 | +27.4% |
| Fixed assets | 21/28 | €45,106 | €81,005 | +€35,900 | +79.6% |
| Tangible fixed assets | 22/27 | €45,106 | €81,005 | +€35,900 | +79.6% |
| Plant, machinery and equipment | 23 | €14,780 | €61,080 | +€46,301 | +313% |
| Furniture and vehicles | 24 | €25,285 | €15,286 | -€10,000 | -39.5% |
| Other tangible fixed assets | 26 | €5,041 | €4,639 | -€401 | -8.0% |
| Current assets | 29/58 | €153,735 | €172,401 | +€18,666 | +12.1% |
| Amounts receivable after more than one year | 29 | €6,753 | €18,000 | +€11,247 | +167% |
| Other amounts receivable | 291 | €6,753 | €18,000 | +€11,247 | +167% |
| Amounts receivable within one year | 40/41 | €33,655 | €16,963 | -€16,691 | -49.6% |
| Trade receivables | 40 | €31,328 | €14,637 | -€16,691 | -53.3% |
| Other amounts receivable | 41 | €2,326 | €2,326 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €113,327 | €137,438 | +€24,111 | +21.3% |
| Total equity and liabilities | 10/49 | €198,841 | €253,406 | +€54,565 | +27.4% |
| Equity | 10/15 | €186,380 | €204,700 | +€18,320 | +9.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €167,788 | €186,108 | +€18,320 | +10.9% |
| Distributable reserves | 133 | €167,788 | €186,108 | +€18,320 | +10.9% |
| Amounts payable | 17/49 | €12,461 | €48,706 | +€36,245 | +291% |
| Amounts payable after more than one year | 17 | - | €28,262 | +€28,262 | |
| Financial debts | 170/4 | - | €28,262 | +€28,262 | |
| Amounts payable within one year | 42/48 | €12,461 | €20,444 | +€7,984 | +64.1% |
| Current portion of amounts payable after more than one year | 42 | €2,246 | €7,489 | +€5,243 | +233% |
| Trade debts | 44 | €3,726 | €3,162 | -€565 | -15.2% |
| Suppliers | 440/4 | €3,726 | €3,162 | -€565 | -15.2% |
| Taxes, remuneration and social security | 45 | €4,192 | €9,430 | +€5,238 | +125% |
| Taxes | 450/3 | €4,192 | €9,430 | +€5,238 | +125% |
| Other amounts payable | 47/48 | €2,296 | €364 | -€1,932 | -84.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,564 | €18,865 | +€301 | +1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,331 | +€9,331 | |
| Other operating charges | 640/8 | €317 | €260 | -€57 | -17.9% |
| Gross operating margin | 9900 | €51,611 | €51,538 | -€72 | -0.1% |
| Operating profit (loss) | 9901 | €32,729 | €23,082 | -€9,648 | -29.5% |
| Financial income | 75/76B | €590 | €1,318 | +€727 | +123% |
| Recurring financial income | 75 | €590 | €1,318 | +€727 | +123% |
| Financial charges | 65/66B | €282 | €463 | +€181 | +64.3% |
| Recurring financial charges | 65 | €282 | €463 | +€181 | +64.3% |
| Profit (loss) for the period before taxes | 9903 | €33,038 | €23,936 | -€9,102 | -27.5% |
| Income taxes | 67/77 | €8,945 | €5,616 | -€3,328 | -37.2% |
| Profit (loss) for the period | 9904 | €24,093 | €18,320 | -€5,773 | -24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,093 | €18,320 | -€5,773 | -24.0% |
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 21 October 2026 via checked.be.