BENCKMAR: 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.
BENCKMAR
Largest movements
- Receivables within one year +€216,787
up €216,787 (+25.8%), from €841,311 to €1.1m
of which Trade receivables: +€207,741
- Stocks and contracts -€17,093
down €17,093 (-54.4%), from €31,404 to €14,311
- Cash -€14,328
down €14,328 (-34.5%), from €41,529 to €27,201
mainly Receivables within one year (-€216,787) and Contributions, distributions and other (-€100,000)
- Other debts +€168,576
new in 2025: €168,576
- Reserves -€66,694
down €66,694 (-10.4%), from €641,074 to €574,380
- Trade debts +€50,272
up €50,272 (+22.5%), from €223,499 to €273,771
- Tax, wage and social debts +€21,691
up €21,691 (+44.8%), from €48,384 to €70,075
of which Taxes: +€15,550
- Gross operating margin -€101,992
down €101,992 (-23.3%), from €438,539 to €336,548
- Taxes -€30,262
down €30,262 (-69.3%), from €43,651 to €13,389
- Staff costs +€15,962
up €15,962 (+6.5%), from €245,336 to €261,298
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 | €937,958 | €1,111,803 | +€173,845 | +18.5% |
| Fixed assets | 21/28 | €16,386 | €9,676 | -€6,711 | -41.0% |
| Tangible fixed assets | 22/27 | €8,931 | €2,221 | -€6,711 | -75.1% |
| Furniture and vehicles | 24 | €8,931 | €2,221 | -€6,711 | -75.1% |
| Financial fixed assets | 28 | €7,455 | €7,455 | = | 0.0% |
| Current assets | 29/58 | €921,572 | €1,102,127 | +€180,555 | +19.6% |
| Stocks and contracts in progress | 3 | €31,404 | €14,311 | -€17,093 | -54.4% |
| Stocks | 30/36 | €31,404 | €14,311 | -€17,093 | -54.4% |
| Amounts receivable within one year | 40/41 | €841,311 | €1,058,099 | +€216,787 | +25.8% |
| Trade receivables | 40 | €817,253 | €1,024,994 | +€207,741 | +25.4% |
| Other amounts receivable | 41 | €24,059 | €33,105 | +€9,046 | +37.6% |
| Cash at bank and in hand | 54/58 | €41,529 | €27,201 | -€14,328 | -34.5% |
| Deferred charges and accrued income | 490/1 | €7,327 | €2,515 | -€4,812 | -65.7% |
| Total equity and liabilities | 10/49 | €937,958 | €1,111,803 | +€173,845 | +18.5% |
| Equity | 10/15 | €666,074 | €599,380 | -€66,694 | -10.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €641,074 | €574,380 | -€66,694 | -10.4% |
| Distributable reserves | 133 | €641,074 | €574,380 | -€66,694 | -10.4% |
| Amounts payable | 17/49 | €271,883 | €512,422 | +€240,539 | +88.5% |
| Amounts payable within one year | 42/48 | €271,883 | €512,422 | +€240,539 | +88.5% |
| Trade debts | 44 | €223,499 | €273,771 | +€50,272 | +22.5% |
| Suppliers | 440/4 | €223,499 | €273,771 | +€50,272 | +22.5% |
| Taxes, remuneration and social security | 45 | €48,384 | €70,075 | +€21,691 | +44.8% |
| Taxes | 450/3 | €13,915 | €29,465 | +€15,550 | +111.7% |
| Remuneration and social security | 454/9 | €34,468 | €40,610 | +€6,141 | +17.8% |
| Other amounts payable | 47/48 | - | €168,576 | +€168,576 | |
| Remuneration, social security and pensions | 62 | €245,336 | €261,298 | +€15,962 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,997 | €6,711 | -€287 | -4.1% |
| Other operating charges | 640/8 | €22,584 | €20,532 | -€2,052 | -9.1% |
| Non-recurring operating charges | 66A | €110 | - | -€110 | |
| Gross operating margin | 9900 | €438,539 | €336,548 | -€101,992 | -23.3% |
| Operating profit (loss) | 9901 | €163,513 | €48,008 | -€115,505 | -70.6% |
| Financial income | 75/76B | €1,876 | €581 | -€1,295 | -69.0% |
| Recurring financial income | 75 | €1,876 | €581 | -€1,295 | -69.0% |
| Financial charges | 65/66B | €1,724 | €1,894 | +€170 | +9.9% |
| Recurring financial charges | 65 | €1,724 | €1,894 | +€170 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €163,665 | €46,695 | -€116,970 | -71.5% |
| Income taxes | 67/77 | €43,651 | €13,389 | -€30,262 | -69.3% |
| Profit (loss) for the period | 9904 | €120,013 | €33,306 | -€86,707 | -72.2% |
| Profit (loss) for the period to be appropriated | 9905 | €120,013 | €33,306 | -€86,707 | -72.2% |
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 6 October 2026 via checked.be.