BENBEL: 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.
BENBEL
Largest movements
- Cash +€16,301
up €16,301 (+13.8%), from €117,947 to €134,247
mainly Net result for the year (+€11,576) and Depreciation (+€4,789)
- Tangible fixed assets -€4,789
down €4,789 (-6.0%), from €79,968 to €75,180
- Reserves +€11,576
up €11,576 (+22.9%), from €50,654 to €62,229
of which Distributable reserves: +€10,997
- Gross operating margin +€535
up €535 (+2.3%), from €22,898 to €23,434
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 | €221,893 | €233,502 | +€11,610 | +5.2% |
| Fixed assets | 21/28 | €102,713 | €97,924 | -€4,789 | -4.7% |
| Tangible fixed assets | 22/27 | €79,968 | €75,180 | -€4,789 | -6.0% |
| Land and buildings | 22 | €79,968 | €75,180 | -€4,789 | -6.0% |
| Financial fixed assets | 28 | €22,744 | €22,744 | = | 0.0% |
| Current assets | 29/58 | €119,180 | €135,578 | +€16,398 | +13.8% |
| Cash at bank and in hand | 54/58 | €117,947 | €134,247 | +€16,301 | +13.8% |
| Deferred charges and accrued income | 490/1 | €1,233 | €1,331 | +€98 | +7.9% |
| Total equity and liabilities | 10/49 | €221,893 | €233,502 | +€11,610 | +5.2% |
| Equity | 10/15 | €174,600 | €186,176 | +€11,576 | +6.6% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €50,654 | €62,229 | +€11,576 | +22.9% |
| Non-distributable reserves | 130/1 | €9,579 | €10,158 | +€579 | +6.0% |
| Legal reserve | 130 | €9,579 | €10,158 | +€579 | +6.0% |
| Distributable reserves | 133 | €41,074 | €52,071 | +€10,997 | +26.8% |
| Amounts payable | 17/49 | €47,292 | €47,326 | +€34 | +0.1% |
| Amounts payable within one year | 42/48 | €47,292 | €47,326 | +€34 | +0.1% |
| Trade debts | 44 | €113 | €0 | -€113 | -100.0% |
| Suppliers | 440/4 | €113 | €0 | -€113 | -100.0% |
| Taxes, remuneration and social security | 45 | €255 | €402 | +€147 | +57.9% |
| Taxes | 450/3 | €255 | €402 | +€147 | +57.9% |
| Other amounts payable | 47/48 | €46,924 | €46,924 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,789 | €4,789 | = | 0.0% |
| Other operating charges | 640/8 | €1,434 | €1,477 | +€43 | +3.0% |
| Gross operating margin | 9900 | €22,898 | €23,434 | +€535 | +2.3% |
| Operating profit (loss) | 9901 | €16,675 | €17,168 | +€492 | +3.0% |
| Financial charges | 65/66B | €161 | €190 | +€29 | +18.0% |
| Recurring financial charges | 65 | €161 | €190 | +€29 | +18.0% |
| Profit (loss) for the period before taxes | 9903 | €16,514 | €16,978 | +€463 | +2.8% |
| Income taxes | 67/77 | €5,255 | €5,402 | +€147 | +2.8% |
| Profit (loss) for the period | 9904 | €11,260 | €11,576 | +€316 | +2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,260 | €11,576 | +€316 | +2.8% |
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.