BENDETTI A.: 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.
BENDETTI A.
Largest movements
- Cash +€1.1m
up €1.1m (+181.1%), from €617,960 to €1.7m
mainly Current investments (+€927,078) and Depreciation (+€274,492)
- Current investments -€927,078
no longer reported in 2025 (was €927,078)
- Tangible fixed assets -€222,114
down €222,114 (-23.0%), from €967,400 to €745,286
of which Furniture and vehicles: -€262,106
- Receivables within one year +€178,770
up €178,770 (+32.7%), from €545,913 to €724,683
of which Trade receivables: +€178,316
- Profit (loss) carried forward +€230,754
up €230,754 (+9.5%), from €2.4m to €2.7m
- Current portion of long-term debt -€92,314
down €92,314 (-56.7%), from €162,938 to €70,624
- Debts after one year -€61,231
down €61,231 (-24.0%), from €254,985 to €193,754
- Trade debts +€44,937
up €44,937 (+51.6%), from €87,074 to €132,012
- Gross operating margin +€207,769
up €207,769 (+16.3%), from €1.3m to €1.5m
- Taxes +€78,636
up €78,636 (+317.3%), from €24,786 to €103,422
- Staff costs +€58,812
up €58,812 (+8.3%), from €712,567 to €771,380
- Financial income -€36,025
down €36,025 (-62.9%), from €57,261 to €21,236
of which Financial income: -€22,530
- Depreciation -€17,060
down €17,060 (-5.9%), from €291,552 to €274,492
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 | €3,211,599 | €3,372,983 | +€161,384 | +5.0% |
| Fixed assets | 21/28 | €993,189 | €768,076 | -€225,114 | -22.7% |
| Intangible fixed assets | 21 | €20,499 | €17,499 | -€3,000 | -14.6% |
| Tangible fixed assets | 22/27 | €967,400 | €745,286 | -€222,114 | -23.0% |
| Land and buildings | 22 | €18,918 | €18,387 | -€530 | -2.8% |
| Plant, machinery and equipment | 23 | €5,453 | €45,975 | +€40,522 | +743.2% |
| Furniture and vehicles | 24 | €943,029 | €680,924 | -€262,106 | -27.8% |
| Financial fixed assets | 28 | €5,291 | €5,291 | = | 0.0% |
| Current assets | 29/58 | €2,218,410 | €2,604,907 | +€386,498 | +17.4% |
| Amounts receivable after more than one year | 29 | €103,885 | €103,885 | = | 0.0% |
| Other amounts receivable | 291 | €103,885 | €103,885 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €545,913 | €724,683 | +€178,770 | +32.7% |
| Trade receivables | 40 | €523,689 | €702,005 | +€178,316 | +34.1% |
| Other amounts receivable | 41 | €22,224 | €22,677 | +€453 | +2.0% |
| Current investments | 50/53 | €927,078 | - | -€927,078 | |
| Cash at bank and in hand | 54/58 | €617,960 | €1,737,093 | +€1.1m | +181.1% |
| Deferred charges and accrued income | 490/1 | €23,574 | €39,246 | +€15,672 | +66.5% |
| Total equity and liabilities | 10/49 | €3,211,599 | €3,372,983 | +€161,384 | +5.0% |
| Equity | 10/15 | €2,490,730 | €2,721,484 | +€230,754 | +9.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,422,559 | €2,653,313 | +€230,754 | +9.5% |
| Amounts payable | 17/49 | €720,869 | €651,499 | -€69,370 | -9.6% |
| Amounts payable after more than one year | 17 | €254,985 | €193,754 | -€61,231 | -24.0% |
| Financial debts | 170/4 | €254,985 | €193,754 | -€61,231 | -24.0% |
| Amounts payable within one year | 42/48 | €465,884 | €457,745 | -€8,139 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €162,938 | €70,624 | -€92,314 | -56.7% |
| Trade debts | 44 | €87,074 | €132,012 | +€44,937 | +51.6% |
| Suppliers | 440/4 | €87,074 | €132,012 | +€44,937 | +51.6% |
| Taxes, remuneration and social security | 45 | €160,554 | €172,997 | +€12,444 | +7.8% |
| Taxes | 450/3 | €91,952 | €110,667 | +€18,716 | +20.4% |
| Remuneration and social security | 454/9 | €68,602 | €62,330 | -€6,272 | -9.1% |
| Other amounts payable | 47/48 | €55,318 | €82,113 | +€26,795 | +48.4% |
| Remuneration, social security and pensions | 62 | €712,567 | €771,380 | +€58,812 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €291,552 | €274,492 | -€17,060 | -5.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,629 | - | +€2,629 | |
| Other operating charges | 640/8 | €92,447 | €95,950 | +€3,503 | +3.8% |
| Gross operating margin | 9900 | €1,273,429 | €1,481,198 | +€207,769 | +16.3% |
| Operating profit (loss) | 9901 | €179,491 | €339,377 | +€159,885 | +89.1% |
| Financial income | 75/76B | €57,261 | €21,236 | -€36,025 | -62.9% |
| Recurring financial income | 75 | €43,766 | €21,236 | -€22,530 | -51.5% |
| Non-recurring financial income | 76B | €13,495 | - | -€13,495 | |
| Financial charges | 65/66B | €23,826 | €26,437 | +€2,611 | +11.0% |
| Recurring financial charges | 65 | €23,826 | €17,675 | -€6,150 | -25.8% |
| Non-recurring financial charges | 66B | €0 | €8,762 | +€8,762 | +87615500.0% |
| Profit (loss) for the period before taxes | 9903 | €212,926 | €334,176 | +€121,250 | +56.9% |
| Income taxes | 67/77 | €24,786 | €103,422 | +€78,636 | +317.3% |
| Profit (loss) for the period | 9904 | €188,140 | €230,754 | +€42,614 | +22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €188,140 | €230,754 | +€42,614 | +22.7% |
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 5 October 2026 via checked.be.