BENDT EYCKERMANS: 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.
BENDT EYCKERMANS
Largest movements
- Tangible fixed assets +€218,858
up €218,858 (+47.1%), from €464,343 to €683,201
of which Land and buildings: +€228,189
- Cash -€72,584
down €72,584 (-17.8%), from €406,686 to €334,102
mainly Investment in fixed assets (net) (-€262,338) and Contributions, distributions and other (-€75,000)
- Receivables within one year -€47,608
down €47,608 (-52.0%), from €91,483 to €43,875
of which Trade receivables: -€47,749
- Profit (loss) carried forward +€72,941
up €72,941, from €0 to €72,941
- Other debts +€44,636
up €44,636 (+41.8%), from €106,700 to €151,336
- Gross operating margin +€74,892
up €74,892 (+46.8%), from €159,913 to €234,806
- Depreciation +€20,546
up €20,546 (+89.6%), from €22,934 to €43,480
- Taxes +€12,438
up €12,438 (+44.2%), from €28,143 to €40,581
- Financial income -€3,723
down €3,723 (-59.2%), from €6,285 to €2,562
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.
Derived cash bridge
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 | €962,513 | €1,061,996 | +€99,484 | +10.3% |
| Fixed assets | 21/28 | €464,343 | €683,201 | +€218,858 | +47.1% |
| Tangible fixed assets | 22/27 | €464,343 | €683,201 | +€218,858 | +47.1% |
| Land and buildings | 22 | €306,730 | €534,919 | +€228,189 | +74.4% |
| Plant, machinery and equipment | 23 | €55,676 | €49,835 | -€5,841 | -10.5% |
| Furniture and vehicles | 24 | €15,854 | €12,363 | -€3,490 | -22.0% |
| Other tangible fixed assets | 26 | €86,084 | €86,084 | = | 0.0% |
| Current assets | 29/58 | €498,169 | €378,795 | -€119,374 | -24.0% |
| Amounts receivable within one year | 40/41 | €91,483 | €43,875 | -€47,608 | -52.0% |
| Trade receivables | 40 | €48,907 | €1,158 | -€47,749 | -97.6% |
| Other amounts receivable | 41 | €42,576 | €42,717 | +€141 | +0.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €406,686 | €334,102 | -€72,584 | -17.8% |
| Deferred charges and accrued income | 490/1 | - | €818 | +€818 | |
| Total equity and liabilities | 10/49 | €962,513 | €1,061,996 | +€99,484 | +10.3% |
| Equity | 10/15 | €703,578 | €776,519 | +€72,941 | +10.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €678,578 | €678,578 | = | 0.0% |
| Distributable reserves | 133 | €678,578 | €678,578 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €72,941 | +€72,941 | |
| Amounts payable | 17/49 | €258,935 | €285,478 | +€26,543 | +10.3% |
| Amounts payable after more than one year | 17 | €132,523 | €125,054 | -€7,469 | -5.6% |
| Financial debts | 170/4 | €132,523 | €125,054 | -€7,469 | -5.6% |
| Amounts payable within one year | 42/48 | €126,412 | €160,424 | +€34,012 | +26.9% |
| Current portion of amounts payable after more than one year | 42 | €7,946 | €7,469 | -€477 | -6.0% |
| Trade debts | 44 | €11,766 | €1,619 | -€10,147 | -86.2% |
| Suppliers | 440/4 | €11,766 | €1,619 | -€10,147 | -86.2% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €106,700 | €151,336 | +€44,636 | +41.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,934 | €43,480 | +€20,546 | +89.6% |
| Other operating charges | 640/8 | €1,821 | €914 | -€907 | -49.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €159,913 | €234,806 | +€74,892 | +46.8% |
| Operating profit (loss) | 9901 | €135,158 | €190,411 | +€55,254 | +40.9% |
| Financial income | 75/76B | €6,285 | €2,562 | -€3,723 | -59.2% |
| Recurring financial income | 75 | €6,285 | €2,562 | -€3,723 | -59.2% |
| Financial charges | 65/66B | €6,598 | €4,452 | -€2,146 | -32.5% |
| Recurring financial charges | 65 | €6,598 | €4,452 | -€2,146 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €134,844 | €188,522 | +€53,677 | +39.8% |
| Income taxes | 67/77 | €28,143 | €40,581 | +€12,438 | +44.2% |
| Profit (loss) for the period | 9904 | €106,701 | €147,941 | +€41,240 | +38.6% |
| Profit (loss) for the period to be appropriated | 9905 | €106,701 | €147,941 | +€41,240 | +38.6% |
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 27 October 2026 via checked.be.