BENCO: 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.
BENCO
Largest movements
- Receivables within one year +€63,060
up €63,060 (+77.4%), from €81,520 to €144,579
of which Trade receivables: +€53,825
- Cash +€9,607
up €9,607 (+25.6%), from €37,577 to €47,183
mainly Net result for the year (+€91,864) and Other debts (+€82,650)
- Other debts +€82,650
up €82,650 (+135004.9%), from €61 to €82,711
- Debts after one year -€29,193
down €29,193 (-45.8%), from €63,694 to €34,501
- Tax, wage and social debts +€6,364
up €6,364 (+118.0%), from €5,395 to €11,759
- Gross operating margin +€43,148
up €43,148 (+72.1%), from €59,817 to €102,965
- Taxes +€9,762
up €9,762 (+51.6%), from €18,936 to €28,698
- Financial income +€7,873
up €7,873 (+43.0%), from €18,312 to €26,185
- Financial charges +€1,741
up €1,741 (+68.3%), from €2,548 to €4,289
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 | €566,940 | €635,926 | +€68,985 | +12.2% |
| Fixed assets | 21/28 | €394,207 | €392,107 | -€2,100 | -0.5% |
| Tangible fixed assets | 22/27 | €14,457 | €12,357 | -€2,100 | -14.5% |
| Plant, machinery and equipment | 23 | €14,262 | €12,357 | -€1,905 | -13.4% |
| Furniture and vehicles | 24 | €196 | - | -€196 | |
| Financial fixed assets | 28 | €379,750 | €379,750 | = | 0.0% |
| Current assets | 29/58 | €172,733 | €243,819 | +€71,085 | +41.2% |
| Amounts receivable within one year | 40/41 | €81,520 | €144,579 | +€63,060 | +77.4% |
| Trade receivables | 40 | €63,170 | €116,995 | +€53,825 | +85.2% |
| Other amounts receivable | 41 | €18,350 | €27,584 | +€9,235 | +50.3% |
| Current investments | 50/53 | €52,056 | €52,056 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €37,577 | €47,183 | +€9,607 | +25.6% |
| Deferred charges and accrued income | 490/1 | €1,581 | - | -€1,581 | |
| Total equity and liabilities | 10/49 | €566,940 | €635,926 | +€68,985 | +12.2% |
| Equity | 10/15 | €463,815 | €468,679 | +€4,864 | +1.0% |
| Contributions | 10/11 | €21,071 | €21,071 | = | 0.0% |
| Reserves | 13 | €442,479 | €447,339 | +€4,860 | +1.1% |
| Distributable reserves | 133 | €442,479 | €447,339 | +€4,860 | +1.1% |
| Profit (loss) carried forward | 14 | €264 | €269 | +€4 | +1.7% |
| Amounts payable | 17/49 | €103,126 | €167,247 | +€64,121 | +62.2% |
| Amounts payable after more than one year | 17 | €63,694 | €34,501 | -€29,193 | -45.8% |
| Financial debts | 170/4 | €63,694 | €34,501 | -€29,193 | -45.8% |
| Amounts payable within one year | 42/48 | €39,432 | €129,818 | +€90,386 | +229.2% |
| Current portion of amounts payable after more than one year | 42 | €33,914 | €34,241 | +€328 | +1.0% |
| Trade debts | 44 | €62 | €1,106 | +€1,044 | +1695.1% |
| Suppliers | 440/4 | €62 | €1,106 | +€1,044 | +1695.1% |
| Taxes, remuneration and social security | 45 | €5,395 | €11,759 | +€6,364 | +118.0% |
| Taxes | 450/3 | €5,395 | €11,759 | +€6,364 | +118.0% |
| Other amounts payable | 47/48 | €61 | €82,711 | +€82,650 | +135004.9% |
| Accrued charges and deferred income | 492/3 | - | €2,928 | +€2,928 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,712 | €3,778 | +€66 | +1.8% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €59,817 | €102,965 | +€43,148 | +72.1% |
| Operating profit (loss) | 9901 | €55,599 | €98,667 | +€43,067 | +77.5% |
| Financial income | 75/76B | €18,312 | €26,185 | +€7,873 | +43.0% |
| Recurring financial income | 75 | €18,312 | €26,185 | +€7,873 | +43.0% |
| Financial charges | 65/66B | €2,548 | €4,289 | +€1,741 | +68.3% |
| Recurring financial charges | 65 | €2,548 | €4,289 | +€1,741 | +68.3% |
| Profit (loss) for the period before taxes | 9903 | €71,364 | €120,563 | +€49,199 | +68.9% |
| Income taxes | 67/77 | €18,936 | €28,698 | +€9,762 | +51.6% |
| Profit (loss) for the period | 9904 | €52,428 | €91,864 | +€39,437 | +75.2% |
| Profit (loss) for the period to be appropriated | 9905 | €52,428 | €91,864 | +€39,437 | +75.2% |
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 28 September 2026 via checked.be.