BENDIR: 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.
BENDIR
Largest movements
- Tangible fixed assets +€321,451
up €321,451 (+62.7%), from €512,374 to €833,825
of which Land and buildings: +€769,318
- Cash -€149,712
down €149,712 (-99.8%), from €149,986 to €274
mainly Investment in fixed assets (net) (-€329,148) and Contributions, distributions and other (-€1,157)
- Receivables within one year -€25,675
no longer reported in 2025 (was €25,675)
- Reserves +€123,926
up €123,926 (+27.4%), from €452,516 to €576,442
of which Tax-exempt reserves: +€123,926
- Provisions +€41,309
up €41,309 (+28.1%), from €146,905 to €188,214
- Profit (loss) carried forward -€19,041
down €19,041 (-38.9%), from -€48,892 to -€67,934
- Gross operating margin +€167,119
up €167,119, from -€10,669 to €156,449
- Depreciation +€6,872
up €6,872 (+832.5%), from €825 to €7,697
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 | €688,035 | €834,099 | +€146,064 | +21.2% |
| Fixed assets | 21/28 | €512,374 | €833,825 | +€321,451 | +62.7% |
| Tangible fixed assets | 22/27 | €512,374 | €833,825 | +€321,451 | +62.7% |
| Land and buildings | 22 | €63,057 | €832,375 | +€769,318 | +1220.0% |
| Furniture and vehicles | 24 | €1,874 | €1,450 | -€424 | -22.6% |
| Assets under construction and advance payments | 27 | €447,443 | - | -€447,443 | |
| Current assets | 29/58 | €175,661 | €274 | -€175,387 | -99.8% |
| Amounts receivable within one year | 40/41 | €25,675 | - | -€25,675 | |
| Trade receivables | 40 | €25,675 | - | -€25,675 | |
| Cash at bank and in hand | 54/58 | €149,986 | €274 | -€149,712 | -99.8% |
| Total equity and liabilities | 10/49 | €688,035 | €834,099 | +€146,064 | +21.2% |
| Equity | 10/15 | €521,624 | €626,509 | +€104,885 | +20.1% |
| Contributions | 10/11 | €118,000 | €118,000 | = | 0.0% |
| Reserves | 13 | €452,516 | €576,442 | +€123,926 | +27.4% |
| Tax-exempt reserves | 132 | €440,716 | €564,642 | +€123,926 | +28.1% |
| Distributable reserves | 133 | €11,800 | €11,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,892 | -€67,934 | -€19,041 | -38.9% |
| Provisions and deferred taxes | 16 | €146,905 | €188,214 | +€41,309 | +28.1% |
| Deferred taxes | 168 | €146,905 | €188,214 | +€41,309 | +28.1% |
| Amounts payable | 17/49 | €19,506 | €19,376 | -€130 | -0.7% |
| Amounts payable within one year | 42/48 | €19,506 | €19,376 | -€130 | -0.7% |
| Other amounts payable | 47/48 | €19,506 | €19,376 | -€130 | -0.7% |
| Non-recurring operating income | 76A | - | €171,503 | +€171,503 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €825 | €7,697 | +€6,872 | +832.5% |
| Other operating charges | 640/8 | €650 | €1,238 | +€589 | +90.6% |
| Gross operating margin | 9900 | -€10,669 | €156,449 | +€167,119 | |
| Operating profit (loss) | 9901 | -€12,144 | €147,514 | +€159,658 | |
| Financial charges | 65/66B | €134 | €1,320 | +€1,187 | +888.7% |
| Recurring financial charges | 65 | €134 | €1,320 | +€1,187 | +888.7% |
| Profit (loss) for the period before taxes | 9903 | -€12,278 | €146,194 | +€158,472 | |
| Transfer from deferred taxes | 780 | - | €2,724 | +€2,724 | |
| Transfer to deferred taxes | 680 | - | €42,876 | +€42,876 | |
| Profit (loss) for the period | 9904 | -€12,278 | €106,042 | +€118,320 | |
| Transfer from tax-exempt reserves | 789 | - | €3,543 | +€3,543 | |
| Transfer to tax-exempt reserves | 689 | - | €128,627 | +€128,627 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,278 | -€19,041 | -€6,763 | -55.1% |
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 30 September 2026 via checked.be.