BeNaZo: 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.
BeNaZo
Largest movements
- Tangible fixed assets +€26,195
up €26,195 (+45.3%), from €57,876 to €84,071
of which Plant, machinery and equipment: +€27,065
- Cash -€13,991
down €13,991 (-82.4%), from €16,981 to €2,990
mainly Investment in fixed assets (net) (-€47,039) and Net result for the year (-€35,741)
- Deferred charges and accrued income +€7,981
up €7,981 (+68.5%), from €11,650 to €19,631
- Stocks and contracts -€1,911
down €1,911 (-7.9%), from €24,084 to €22,173
- Profit (loss) carried forward -€35,741
down €35,741 (-33.0%), from -€108,339 to -€144,080
- Short-term financial debts +€22,963
up €22,963 (+236.0%), from €9,732 to €32,695
- Debts after one year +€14,270
new in 2025: €14,270
- Current portion of long-term debt +€9,361
up €9,361 (+423.2%), from €2,212 to €11,573
- Tax, wage and social debts +€6,164
up €6,164 (+10.5%), from €58,819 to €64,983
of which Taxes: +€3,305
- Staff costs +€54,638
up €54,638 (+9.4%), from €582,150 to €636,788
- Gross operating margin +€24,398
up €24,398 (+4.0%), from €607,513 to €631,910
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 | €129,722 | €147,066 | +€17,344 | +13.4% |
| Fixed assets | 21/28 | €58,648 | €84,844 | +€26,195 | +44.7% |
| Tangible fixed assets | 22/27 | €57,876 | €84,071 | +€26,195 | +45.3% |
| Plant, machinery and equipment | 23 | €14,662 | €41,727 | +€27,065 | +184.6% |
| Furniture and vehicles | 24 | €7,144 | €14,588 | +€7,444 | +104.2% |
| Leasing and similar rights | 25 | €1,964 | - | -€1,964 | |
| Other tangible fixed assets | 26 | €34,106 | €27,757 | -€6,350 | -18.6% |
| Financial fixed assets | 28 | €773 | €773 | = | 0.0% |
| Current assets | 29/58 | €71,073 | €62,222 | -€8,851 | -12.5% |
| Stocks and contracts in progress | 3 | €24,084 | €22,173 | -€1,911 | -7.9% |
| Stocks | 30/36 | €24,084 | €22,173 | -€1,911 | -7.9% |
| Amounts receivable within one year | 40/41 | €12,353 | €11,422 | -€930 | -7.5% |
| Trade receivables | 40 | €9,096 | €3,550 | -€5,545 | -61.0% |
| Other amounts receivable | 41 | €3,257 | €7,872 | +€4,615 | +141.7% |
| Current investments | 50/53 | €6,005 | €6,005 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €16,981 | €2,990 | -€13,991 | -82.4% |
| Deferred charges and accrued income | 490/1 | €11,650 | €19,631 | +€7,981 | +68.5% |
| Total equity and liabilities | 10/49 | €129,722 | €147,066 | +€17,344 | +13.4% |
| Equity | 10/15 | €28,002 | -€7,738 | -€35,741 | |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €12,395 | €12,395 | = | 0.0% |
| Distributable reserves | 133 | €12,395 | €12,395 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€108,339 | -€144,080 | -€35,741 | -33.0% |
| Amounts payable | 17/49 | €101,719 | €154,804 | +€53,085 | +52.2% |
| Amounts payable after more than one year | 17 | - | €14,270 | +€14,270 | |
| Financial debts | 170/4 | - | €14,270 | +€14,270 | |
| Amounts payable within one year | 42/48 | €99,877 | €138,913 | +€39,036 | +39.1% |
| Current portion of amounts payable after more than one year | 42 | €2,212 | €11,573 | +€9,361 | +423.2% |
| Financial debts | 43 | €9,732 | €32,695 | +€22,963 | +236.0% |
| Credit institutions | 430/8 | €9,732 | €32,695 | +€22,963 | +236.0% |
| Trade debts | 44 | €25,735 | €27,750 | +€2,015 | +7.8% |
| Suppliers | 440/4 | €25,735 | €27,750 | +€2,015 | +7.8% |
| Advances received on contracts in progress | 46 | €3,044 | €1,372 | -€1,672 | -54.9% |
| Taxes, remuneration and social security | 45 | €58,819 | €64,983 | +€6,164 | +10.5% |
| Taxes | 450/3 | €12,626 | €15,931 | +€3,305 | +26.2% |
| Remuneration and social security | 454/9 | €46,192 | €49,052 | +€2,859 | +6.2% |
| Other amounts payable | 47/48 | €336 | €541 | +€205 | +61.1% |
| Accrued charges and deferred income | 492/3 | €1,842 | €1,621 | -€221 | -12.0% |
| Remuneration, social security and pensions | 62 | €582,150 | €636,788 | +€54,638 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,060 | €20,844 | +€1,784 | +9.4% |
| Other operating charges | 640/8 | €2,036 | €1,715 | -€321 | -15.8% |
| Non-recurring operating charges | 66A | €108 | - | -€108 | |
| Gross operating margin | 9900 | €607,513 | €631,910 | +€24,398 | +4.0% |
| Operating profit (loss) | 9901 | €4,158 | -€27,436 | -€31,594 | |
| Financial income | 75/76B | €1,917 | €1,161 | -€756 | -39.4% |
| Recurring financial income | 75 | €1,917 | €1,161 | -€756 | -39.4% |
| Financial charges | 65/66B | €9,026 | €9,325 | +€299 | +3.3% |
| Recurring financial charges | 65 | €9,026 | €9,325 | +€299 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,950 | -€35,600 | -€32,650 | -1106.7% |
| Income taxes | 67/77 | €128 | €141 | +€13 | +10.1% |
| Profit (loss) for the period | 9904 | -€3,078 | -€35,741 | -€32,663 | -1061.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,078 | -€35,741 | -€32,663 | -1061.1% |
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 30 September 2026 via checked.be.