BENCO: 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.
BENCO
Largest movements
- Tangible fixed assets -€112,688
down €112,688 (-6.7%), from €1.7m to €1.6m
of which Land and buildings: -€102,398
- Cash +€96,953
up €96,953 (+79.6%), from €121,784 to €218,737
mainly Depreciation (+€112,688) and Receivables within one year (+€30,603)
- Receivables within one year -€30,603
down €30,603 (-39.5%), from €77,392 to €46,789
of which Trade receivables: -€22,221
- Debts after one year -€73,333
down €73,333 (-15.0%), from €488,889 to €415,556
- Staff costs +€26,413
up €26,413, from -€26,413 to €0
- Financial income -€18,209
down €18,209 (-80.6%), from €22,592 to €4,382
- Gross operating margin -€10,671
down €10,671 (-5.7%), from €186,547 to €175,876
- Depreciation -€5,471
down €5,471 (-4.6%), from €118,159 to €112,688
- Financial charges -€4,924
down €4,924 (-13.9%), from €35,415 to €30,490
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 | €2,387,314 | €2,338,325 | -€48,990 | -2.1% |
| Fixed assets | 21/28 | €1,682,025 | €1,569,338 | -€112,688 | -6.7% |
| Tangible fixed assets | 22/27 | €1,680,525 | €1,567,838 | -€112,688 | -6.7% |
| Land and buildings | 22 | €1,646,845 | €1,544,447 | -€102,398 | -6.2% |
| Plant, machinery and equipment | 23 | €841 | €332 | -€509 | -60.5% |
| Furniture and vehicles | 24 | €32,839 | €23,059 | -€9,780 | -29.8% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €705,289 | €768,987 | +€63,698 | +9.0% |
| Amounts receivable within one year | 40/41 | €77,392 | €46,789 | -€30,603 | -39.5% |
| Trade receivables | 40 | €67,078 | €44,857 | -€22,221 | -33.1% |
| Other amounts receivable | 41 | €10,314 | €1,932 | -€8,382 | -81.3% |
| Current investments | 50/53 | €506,112 | €500,000 | -€6,112 | -1.2% |
| Cash at bank and in hand | 54/58 | €121,784 | €218,737 | +€96,953 | +79.6% |
| Deferred charges and accrued income | 490/1 | €0 | €3,461 | +€3,461 | |
| Total equity and liabilities | 10/49 | €2,387,314 | €2,338,325 | -€48,990 | -2.1% |
| Equity | 10/15 | €1,501,591 | €1,514,391 | +€12,801 | +0.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €420,610 | €433,411 | +€12,801 | +3.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €401,860 | €414,661 | +€12,801 | +3.2% |
| Profit (loss) carried forward | 14 | €1,074,781 | €1,074,781 | = | 0.0% |
| Amounts payable | 17/49 | €885,724 | €823,933 | -€61,790 | -7.0% |
| Amounts payable after more than one year | 17 | €488,889 | €415,556 | -€73,333 | -15.0% |
| Financial debts | 170/4 | €488,889 | €415,556 | -€73,333 | -15.0% |
| Amounts payable within one year | 42/48 | €375,141 | €388,847 | +€13,706 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €73,333 | €73,333 | = | 0.0% |
| Trade debts | 44 | €6,332 | €1,500 | -€4,832 | -76.3% |
| Suppliers | 440/4 | €6,332 | €1,500 | -€4,832 | -76.3% |
| Taxes, remuneration and social security | 45 | €1,409 | €2,895 | +€1,486 | +105.5% |
| Taxes | 450/3 | €1,409 | €2,895 | +€1,486 | +105.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €294,066 | €311,118 | +€17,053 | +5.8% |
| Accrued charges and deferred income | 492/3 | €21,694 | €19,530 | -€2,163 | -10.0% |
| Non-recurring operating income | 76A | €12,839 | €3,736 | -€9,103 | -70.9% |
| Remuneration, social security and pensions | 62 | -€26,413 | €0 | +€26,413 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,159 | €112,688 | -€5,471 | -4.6% |
| Other operating charges | 640/8 | €19,371 | €22,836 | +€3,464 | +17.9% |
| Non-recurring operating charges | 66A | €231,665 | €0 | -€231,665 | -100.0% |
| Gross operating margin | 9900 | €186,547 | €175,876 | -€10,671 | -5.7% |
| Operating profit (loss) | 9901 | -€156,235 | €40,352 | +€196,587 | |
| Financial income | 75/76B | €22,592 | €4,382 | -€18,209 | -80.6% |
| Recurring financial income | 75 | €22,592 | €4,382 | -€18,209 | -80.6% |
| Financial charges | 65/66B | €35,415 | €30,490 | -€4,924 | -13.9% |
| Recurring financial charges | 65 | €35,415 | €30,490 | -€4,924 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | -€169,057 | €14,245 | +€183,302 | |
| Income taxes | 67/77 | €175 | €1,444 | +€1,269 | +725.7% |
| Profit (loss) for the period | 9904 | -€169,232 | €12,801 | +€182,033 | |
| Profit (loss) for the period to be appropriated | 9905 | -€169,232 | €12,801 | +€182,033 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.