Benecos Holding: 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.
Benecos Holding
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+74.8%), from €2.1m to €3.6m
of which Assets under construction and advance payments: +€1.5m
- Receivables within one year -€941,794
down €941,794 (-30.5%), from €3.1m to €2.1m
of which Other amounts receivable: -€918,844
- Cash +€438,935
up €438,935 (+91.9%), from €477,449 to €916,384
mainly Receivables within one year (+€941,794) and Debts after one year (+€815,479)
- Debts after one year +€815,479
up €815,479 (+62.9%), from €1.3m to €2.1m
of which Financial debts: +€815,479
- Trade debts +€140,214
up €140,214 (+3,369%), from €4,162 to €144,376
- Gross operating margin +€38,057
up €38,057 (+44.3%), from €85,812 to €123,869
- Financial income -€24,839
down €24,839 (-35.7%), from €69,650 to €44,811
- Depreciation +€17,912
up €17,912 (+32.2%), from €55,713 to €73,625
- Financial charges -€11,458
down €11,458 (-13.8%), from €82,818 to €71,360
of which Non-recurring financial charges: -€72,124
- Staff costs +€3,251
up €3,251, from -€3,251 to €0
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 | €7,758,886 | €8,841,904 | +€1.1m | +14.0% |
| Fixed assets | 21/28 | €4,187,529 | €5,732,053 | +€1.5m | +36.9% |
| Tangible fixed assets | 22/27 | €2,064,229 | €3,608,753 | +€1.5m | +74.8% |
| Land and buildings | 22 | €1,244,187 | €1,209,520 | -€34,668 | -2.8% |
| Plant, machinery and equipment | 23 | €3,186 | €0 | -€3,186 | -100% |
| Furniture and vehicles | 24 | €25,367 | €61,116 | +€35,749 | +141% |
| Assets under construction and advance payments | 27 | €791,488 | €2,338,118 | +€1.5m | +195% |
| Financial fixed assets | 28 | €2,123,300 | €2,123,300 | = | 0.0% |
| Current assets | 29/58 | €3,571,357 | €3,109,850 | -€461,507 | -12.9% |
| Amounts receivable within one year | 40/41 | €3,087,185 | €2,145,391 | -€941,794 | -30.5% |
| Trade receivables | 40 | €96,945 | €73,995 | -€22,950 | -23.7% |
| Other amounts receivable | 41 | €2,990,241 | €2,071,396 | -€918,844 | -30.7% |
| Cash at bank and in hand | 54/58 | €477,449 | €916,384 | +€438,935 | +91.9% |
| Deferred charges and accrued income | 490/1 | €6,723 | €48,075 | +€41,352 | +615% |
| Total equity and liabilities | 10/49 | €7,758,886 | €8,841,904 | +€1.1m | +14.0% |
| Equity | 10/15 | €6,056,556 | €6,060,991 | +€4,435 | +0.1% |
| Contributions | 10/11 | €1,300,000 | €1,300,000 | = | 0.0% |
| Capital | 10 | €1,300,000 | €1,300,000 | = | 0.0% |
| Issued capital | 100 | €1,300,000 | €1,300,000 | = | 0.0% |
| Reserves | 13 | €4,756,556 | €4,760,991 | +€4,435 | +0.1% |
| Non-distributable reserves | 130/1 | €64,295 | €64,295 | = | 0.0% |
| Legal reserve | 130 | €64,295 | €64,295 | = | 0.0% |
| Distributable reserves | 133 | €4,692,261 | €4,696,697 | +€4,435 | +0.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,702,330 | €2,780,912 | +€1.1m | +63.4% |
| Amounts payable after more than one year | 17 | €1,296,578 | €2,112,057 | +€815,479 | +62.9% |
| Financial debts | 170/4 | €1,295,678 | €2,111,157 | +€815,479 | +62.9% |
| Other amounts payable | 178/9 | €900 | €900 | = | 0.0% |
| Amounts payable within one year | 42/48 | €399,633 | €619,930 | +€220,297 | +55.1% |
| Current portion of amounts payable after more than one year | 42 | €123,506 | €201,468 | +€77,962 | +63.1% |
| Trade debts | 44 | €4,162 | €144,376 | +€140,214 | +3,369% |
| Suppliers | 440/4 | €4,162 | €144,376 | +€140,214 | +3,369% |
| Taxes, remuneration and social security | 45 | €15,512 | €5,220 | -€10,292 | -66.3% |
| Taxes | 450/3 | €15,512 | €5,220 | -€10,292 | -66.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €256,453 | €268,866 | +€12,413 | +4.8% |
| Accrued charges and deferred income | 492/3 | €6,118 | €48,926 | +€42,807 | +700% |
| Non-recurring operating income | 76A | €84,859 | €913 | -€83,946 | -98.9% |
| Remuneration, social security and pensions | 62 | -€3,251 | €0 | +€3,251 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,713 | €73,625 | +€17,912 | +32.2% |
| Other operating charges | 640/8 | €17,905 | €18,930 | +€1,024 | +5.7% |
| Gross operating margin | 9900 | €85,812 | €123,869 | +€38,057 | +44.3% |
| Operating profit (loss) | 9901 | €15,445 | €31,315 | +€15,870 | +103% |
| Financial income | 75/76B | €69,650 | €44,811 | -€24,839 | -35.7% |
| Recurring financial income | 75 | €69,650 | €44,811 | -€24,839 | -35.7% |
| Financial charges | 65/66B | €82,818 | €71,360 | -€11,458 | -13.8% |
| Recurring financial charges | 65 | €10,694 | €71,360 | +€60,666 | +567% |
| Non-recurring financial charges | 66B | €72,124 | €0 | -€72,124 | -100% |
| Profit (loss) for the period before taxes | 9903 | €2,277 | €4,765 | +€2,489 | +109% |
| Income taxes | 67/77 | €648 | €330 | -€318 | -49.1% |
| Profit (loss) for the period | 9904 | €1,629 | €4,435 | +€2,807 | +172% |
| Profit (loss) for the period to be appropriated | 9905 | €1,629 | €4,435 | +€2,807 | +172% |
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 26 October 2026 via checked.be.