BENACO: 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.
BENACO
Largest movements
- Receivables after one year -€625,000
no longer reported in 2025 (was €625,000)
- Receivables within one year -€548,567
down €548,567 (-86.1%), from €637,445 to €88,878
of which Trade receivables: -€518,904
- Financial fixed assets +€226,930
new in 2025: €226,930
- Cash +€213,752
up €213,752 (+76.8%), from €278,381 to €492,133
mainly Receivables after one year (+€625,000) and Receivables within one year (+€548,567)
- Current investments -€129,046
no longer reported in 2025 (was €129,046)
- Profit (loss) carried forward -€587,708
down €587,708 (-40.2%), from €1.5m to €875,069
- Trade debts -€168,330
down €168,330 (-99.9%), from €168,554 to €224
- Tax, wage and social debts -€119,164
down €119,164 (-92.1%), from €129,447 to €10,283
- Gross operating margin -€626,000
down €626,000 (-77.8%), from €804,754 to €178,754
- Taxes -€166,323
down €166,323 (-82.1%), from €202,696 to €36,373
- Financial income +€46,819
new in 2025: €46,819
- Depreciation +€9,431
up €9,431 (+104.0%), from €9,071 to €18,502
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 | €1,938,601 | €1,062,246 | -€876,356 | -45.2% |
| Fixed assets | 21/28 | €266,003 | €478,420 | +€212,417 | +79.9% |
| Tangible fixed assets | 22/27 | €266,003 | €251,490 | -€14,513 | -5.5% |
| Land and buildings | 22 | €224,591 | €219,743 | -€4,848 | -2.2% |
| Furniture and vehicles | 24 | €27,583 | €17,126 | -€10,458 | -37.9% |
| Other tangible fixed assets | 26 | €13,828 | €14,621 | +€793 | +5.7% |
| Financial fixed assets | 28 | - | €226,930 | +€226,930 | |
| Current assets | 29/58 | €1,672,599 | €583,826 | -€1.1m | -65.1% |
| Amounts receivable after more than one year | 29 | €625,000 | - | -€625,000 | |
| Other amounts receivable | 291 | €625,000 | - | -€625,000 | |
| Amounts receivable within one year | 40/41 | €637,445 | €88,878 | -€548,567 | -86.1% |
| Trade receivables | 40 | €596,264 | €77,361 | -€518,904 | -87.0% |
| Other amounts receivable | 41 | €41,181 | €11,518 | -€29,663 | -72.0% |
| Current investments | 50/53 | €129,046 | - | -€129,046 | |
| Cash at bank and in hand | 54/58 | €278,381 | €492,133 | +€213,752 | +76.8% |
| Deferred charges and accrued income | 490/1 | €2,727 | €2,815 | +€88 | +3.2% |
| Total equity and liabilities | 10/49 | €1,938,601 | €1,062,246 | -€876,356 | -45.2% |
| Equity | 10/15 | €1,465,777 | €878,069 | -€587,708 | -40.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,462,777 | €875,069 | -€587,708 | -40.2% |
| Amounts payable | 17/49 | €472,824 | €184,176 | -€288,648 | -61.0% |
| Amounts payable after more than one year | 17 | €159,078 | €147,660 | -€11,418 | -7.2% |
| Financial debts | 170/4 | €159,078 | €147,660 | -€11,418 | -7.2% |
| Amounts payable within one year | 42/48 | €313,266 | €36,072 | -€277,194 | -88.5% |
| Current portion of amounts payable after more than one year | 42 | €11,263 | €11,418 | +€155 | +1.4% |
| Trade debts | 44 | €168,554 | €224 | -€168,330 | -99.9% |
| Suppliers | 440/4 | €168,554 | €224 | -€168,330 | -99.9% |
| Taxes, remuneration and social security | 45 | €129,447 | €10,283 | -€119,164 | -92.1% |
| Taxes | 450/3 | €129,447 | €10,283 | -€119,164 | -92.1% |
| Other amounts payable | 47/48 | €4,002 | €14,146 | +€10,145 | +253.5% |
| Accrued charges and deferred income | 492/3 | €480 | €444 | -€36 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,071 | €18,502 | +€9,431 | +104.0% |
| Other operating charges | 640/8 | €2,222 | €3,953 | +€1,730 | +77.9% |
| Gross operating margin | 9900 | €804,754 | €178,754 | -€626,000 | -77.8% |
| Operating profit (loss) | 9901 | €793,461 | €156,299 | -€637,162 | -80.3% |
| Financial income | 75/76B | - | €46,819 | +€46,819 | |
| Recurring financial income | 75 | - | €46,819 | +€46,819 | |
| Financial charges | 65/66B | €3,302 | €5,012 | +€1,710 | +51.8% |
| Recurring financial charges | 65 | €3,302 | €5,012 | +€1,710 | +51.8% |
| Profit (loss) for the period before taxes | 9903 | €790,158 | €198,106 | -€592,052 | -74.9% |
| Income taxes | 67/77 | €202,696 | €36,373 | -€166,323 | -82.1% |
| Profit (loss) for the period | 9904 | €587,462 | €161,733 | -€425,730 | -72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €587,462 | €161,733 | -€425,730 | -72.5% |
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 28 September 2026 via checked.be.