BENALEX XV: 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.
BENALEX XV
Largest movements
- Tangible fixed assets -€25,521
down €25,521 (-2.8%), from €922,260 to €896,739
of which Assets under construction and advance payments: -€33,000
- Debts after one year -€45,780
down €45,780 (-6.9%), from €667,883 to €622,103
- Other debts +€16,015
up €16,015 (+8.0%), from €200,371 to €216,386
- Gross operating margin +€4,171
up €4,171 (+6.9%), from €60,620 to €64,792
- Depreciation +€3,329
up €3,329 (+10.2%), from €32,653 to €35,982
- Other operating charges -€2,622
down €2,622 (-41.2%), from €6,369 to €3,747
- Taxes +€1,174
new in 2025: €1,174
- Financial charges -€666
down €666 (-4.2%), from €16,045 to €15,379
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 | €924,797 | €905,016 | -€19,781 | -2.1% |
| Fixed assets | 21/28 | €922,260 | €896,739 | -€25,521 | -2.8% |
| Tangible fixed assets | 22/27 | €922,260 | €896,739 | -€25,521 | -2.8% |
| Land and buildings | 22 | €889,260 | €896,739 | +€7,479 | +0.8% |
| Assets under construction and advance payments | 27 | €33,000 | - | -€33,000 | |
| Current assets | 29/58 | €2,538 | €8,278 | +€5,740 | +226% |
| Cash at bank and in hand | 54/58 | - | €3,203 | +€3,203 | |
| Deferred charges and accrued income | 490/1 | €2,538 | €5,075 | +€2,537 | +100.0% |
| Total equity and liabilities | 10/49 | €924,797 | €905,016 | -€19,781 | -2.1% |
| Equity | 10/15 | €10,424 | €18,933 | +€8,509 | +81.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €9,500 | €12,500 | +€3,000 | +31.6% |
| Distributable reserves | 133 | €9,500 | €12,500 | +€3,000 | +31.6% |
| Profit (loss) carried forward | 14 | -€5,276 | €233 | +€5,509 | |
| Amounts payable | 17/49 | €914,373 | €886,083 | -€28,291 | -3.1% |
| Amounts payable after more than one year | 17 | €667,883 | €622,103 | -€45,780 | -6.9% |
| Financial debts | 170/4 | €667,883 | €622,103 | -€45,780 | -6.9% |
| Amounts payable within one year | 42/48 | €246,490 | €263,980 | +€17,489 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €44,842 | €45,780 | +€938 | +2.1% |
| Taxes, remuneration and social security | 45 | €1,277 | €1,814 | +€536 | +42.0% |
| Taxes | 450/3 | €1,277 | €1,814 | +€536 | +42.0% |
| Other amounts payable | 47/48 | €200,371 | €216,386 | +€16,015 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,653 | €35,982 | +€3,329 | +10.2% |
| Other operating charges | 640/8 | €6,369 | €3,747 | -€2,622 | -41.2% |
| Gross operating margin | 9900 | €60,620 | €64,792 | +€4,171 | +6.9% |
| Operating profit (loss) | 9901 | €21,598 | €25,063 | +€3,464 | +16.0% |
| Financial charges | 65/66B | €16,045 | €15,379 | -€666 | -4.2% |
| Recurring financial charges | 65 | €16,045 | €15,379 | -€666 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €5,553 | €9,683 | +€4,130 | +74.4% |
| Income taxes | 67/77 | - | €1,174 | +€1,174 | |
| Profit (loss) for the period | 9904 | €5,553 | €8,509 | +€2,956 | +53.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,553 | €8,509 | +€2,956 | +53.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.