BENDEL: 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.
BENDEL
Largest movements
- Cash -€78,865
down €78,865 (-32.5%), from €242,363 to €163,498
mainly Other debts (-€98,121) and Investment in fixed assets (net) (-€59,150)
- Tangible fixed assets +€42,139
up €42,139 (+78.6%), from €53,614 to €95,753
of which Plant, machinery and equipment: +€30,880
- Stocks and contracts +€14,026
up €14,026 (+4.8%), from €291,393 to €305,419
- Deferred charges and accrued income -€8,757
down €8,757 (-24.9%), from €35,166 to €26,409
- Receivables within one year -€8,022
down €8,022 (-39.4%), from €20,373 to €12,352
of which Trade receivables: -€9,217
- Other debts -€98,121
down €98,121 (-96.7%), from €101,451 to €3,330
- Trade debts +€89,220
up €89,220 (+10.9%), from €819,323 to €908,543
- Profit (loss) carried forward -€31,275
down €31,275 (-6.9%), from -€455,456 to -€486,731
- Gross operating margin +€46,174
up €46,174 (+14.0%), from €330,136 to €376,310
- Financial charges -€20,247
down €20,247 (-50.8%), from €39,849 to €19,602
- Staff costs -€9,746
down €9,746 (-2.6%), from €369,893 to €360,147
- Other operating charges +€5,500
up €5,500 (+117.3%), from €4,687 to €10,187
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 | €642,910 | €603,431 | -€39,479 | -6.1% |
| Fixed assets | 21/28 | €53,614 | €95,753 | +€42,139 | +78.6% |
| Tangible fixed assets | 22/27 | €53,614 | €95,753 | +€42,139 | +78.6% |
| Plant, machinery and equipment | 23 | €52,626 | €83,506 | +€30,880 | +58.7% |
| Furniture and vehicles | 24 | €989 | €12,247 | +€11,258 | +1138.6% |
| Current assets | 29/58 | €589,296 | €507,678 | -€81,618 | -13.9% |
| Stocks and contracts in progress | 3 | €291,393 | €305,419 | +€14,026 | +4.8% |
| Stocks | 30/36 | €291,393 | €305,419 | +€14,026 | +4.8% |
| Amounts receivable within one year | 40/41 | €20,373 | €12,352 | -€8,022 | -39.4% |
| Trade receivables | 40 | €15,959 | €6,742 | -€9,217 | -57.8% |
| Other amounts receivable | 41 | €4,414 | €5,609 | +€1,195 | +27.1% |
| Cash at bank and in hand | 54/58 | €242,363 | €163,498 | -€78,865 | -32.5% |
| Deferred charges and accrued income | 490/1 | €35,166 | €26,409 | -€8,757 | -24.9% |
| Total equity and liabilities | 10/49 | €642,910 | €603,431 | -€39,479 | -6.1% |
| Equity | 10/15 | -€396,956 | -€428,231 | -€31,275 | -7.9% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €13,500 | €13,500 | = | 0.0% |
| Distributable reserves | 133 | €13,500 | €13,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€455,456 | -€486,731 | -€31,275 | -6.9% |
| Amounts payable | 17/49 | €1,039,867 | €1,031,662 | -€8,205 | -0.8% |
| Amounts payable within one year | 42/48 | €1,010,090 | €1,005,274 | -€4,816 | -0.5% |
| Trade debts | 44 | €819,323 | €908,543 | +€89,220 | +10.9% |
| Suppliers | 440/4 | €819,323 | €908,543 | +€89,220 | +10.9% |
| Taxes, remuneration and social security | 45 | €89,316 | €93,401 | +€4,085 | +4.6% |
| Taxes | 450/3 | €228 | €141 | -€86 | -37.8% |
| Remuneration and social security | 454/9 | €89,088 | €93,260 | +€4,171 | +4.7% |
| Other amounts payable | 47/48 | €101,451 | €3,330 | -€98,121 | -96.7% |
| Accrued charges and deferred income | 492/3 | €29,777 | €26,388 | -€3,389 | -11.4% |
| Remuneration, social security and pensions | 62 | €369,893 | €360,147 | -€9,746 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,364 | €17,012 | +€3,647 | +27.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €864 | +€864 | |
| Other operating charges | 640/8 | €4,687 | €10,187 | +€5,500 | +117.3% |
| Operating charges capitalised as restructuring costs | 649 | - | -€130 | -€130 | |
| Gross operating margin | 9900 | €330,136 | €376,310 | +€46,174 | +14.0% |
| Operating profit (loss) | 9901 | -€57,809 | -€11,769 | +€46,039 | +79.6% |
| Financial income | 75/76B | €85 | €239 | +€153 | +179.4% |
| Recurring financial income | 75 | €85 | €239 | +€153 | +179.4% |
| Financial charges | 65/66B | €39,849 | €19,602 | -€20,247 | -50.8% |
| Recurring financial charges | 65 | €39,849 | €19,602 | -€20,247 | -50.8% |
| Profit (loss) for the period before taxes | 9903 | -€97,572 | -€31,133 | +€66,440 | +68.1% |
| Income taxes | 67/77 | €228 | €142 | -€86 | -37.6% |
| Profit (loss) for the period | 9904 | -€97,800 | -€31,275 | +€66,526 | +68.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€97,800 | -€31,275 | +€66,526 | +68.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.