BENEDETTI: 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.
BENEDETTI
Largest movements
- Cash -€83,177
down €83,177 (-17.3%), from €479,677 to €396,500
mainly Investment in fixed assets (net) (-€130,071) and Trade debts (-€63,988)
- Receivables within one year -€63,716
down €63,716 (-27.9%), from €228,461 to €164,745
of which Other amounts receivable: -€43,106
- Tangible fixed assets +€29,421
up €29,421 (+11.3%), from €259,341 to €288,762
of which Leasing and similar rights: +€32,708
- Stocks and contracts +€15,617
up €15,617 (+3.3%), from €478,916 to €494,534
- Trade debts -€63,988
down €63,988 (-66.7%), from €95,935 to €31,947
- Tax, wage and social debts -€52,643
down €52,643 (-33.1%), from €159,246 to €106,603
of which Remuneration and social security: -€40,495
- Profit (loss) carried forward -€24,373
down €24,373 (-28.2%), from €86,297 to €61,923
- Debts after one year +€21,845
new in 2025: €21,845
- Gross operating margin -€140,251
down €140,251 (-16.8%), from €833,175 to €692,923
- Staff costs -€90,856
down €90,856 (-12.9%), from €701,909 to €611,054
- Taxes -€11,996
down €11,996 (-91.0%), from €13,183 to €1,188
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 | €1,465,895 | €1,351,856 | -€114,039 | -7.8% |
| Fixed assets | 21/28 | €264,102 | €293,298 | +€29,196 | +11.1% |
| Intangible fixed assets | 21 | €2,212 | €1,987 | -€225 | -10.2% |
| Tangible fixed assets | 22/27 | €259,341 | €288,762 | +€29,421 | +11.3% |
| Land and buildings | 22 | €189,449 | €175,088 | -€14,362 | -7.6% |
| Plant, machinery and equipment | 23 | €41,600 | €67,782 | +€26,182 | +62.9% |
| Furniture and vehicles | 24 | €28,291 | €13,184 | -€15,107 | -53.4% |
| Leasing and similar rights | 25 | - | €32,708 | +€32,708 | |
| Financial fixed assets | 28 | €2,549 | €2,549 | = | 0.0% |
| Current assets | 29/58 | €1,201,794 | €1,058,558 | -€143,235 | -11.9% |
| Stocks and contracts in progress | 3 | €478,916 | €494,534 | +€15,617 | +3.3% |
| Stocks | 30/36 | €478,916 | €494,534 | +€15,617 | +3.3% |
| Amounts receivable within one year | 40/41 | €228,461 | €164,745 | -€63,716 | -27.9% |
| Trade receivables | 40 | €129,981 | €109,371 | -€20,610 | -15.9% |
| Other amounts receivable | 41 | €98,479 | €55,373 | -€43,106 | -43.8% |
| Cash at bank and in hand | 54/58 | €479,677 | €396,500 | -€83,177 | -17.3% |
| Deferred charges and accrued income | 490/1 | €14,740 | €2,780 | -€11,960 | -81.1% |
| Total equity and liabilities | 10/49 | €1,465,895 | €1,351,856 | -€114,039 | -7.8% |
| Equity | 10/15 | €1,210,373 | €1,186,000 | -€24,373 | -2.0% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Capital | 10 | €90,000 | €90,000 | = | 0.0% |
| Issued capital | 100 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €1,034,076 | €1,034,076 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,000 | €9,000 | = | 0.0% |
| Legal reserve | 130 | €9,000 | €9,000 | = | 0.0% |
| Distributable reserves | 133 | €1,025,076 | €1,025,076 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,297 | €61,923 | -€24,373 | -28.2% |
| Amounts payable | 17/49 | €255,522 | €165,856 | -€89,666 | -35.1% |
| Amounts payable after more than one year | 17 | - | €21,845 | +€21,845 | |
| Financial debts | 170/4 | - | €21,845 | +€21,845 | |
| Amounts payable within one year | 42/48 | €255,181 | €144,011 | -€111,170 | -43.6% |
| Current portion of amounts payable after more than one year | 42 | - | €5,461 | +€5,461 | |
| Trade debts | 44 | €95,935 | €31,947 | -€63,988 | -66.7% |
| Suppliers | 440/4 | €95,935 | €31,947 | -€63,988 | -66.7% |
| Taxes, remuneration and social security | 45 | €159,246 | €106,603 | -€52,643 | -33.1% |
| Taxes | 450/3 | €97,586 | €85,438 | -€12,148 | -12.4% |
| Remuneration and social security | 454/9 | €61,660 | €21,165 | -€40,495 | -65.7% |
| Accrued charges and deferred income | 492/3 | €341 | - | -€341 | |
| Remuneration, social security and pensions | 62 | €701,909 | €611,054 | -€90,856 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,704 | €100,874 | +€2,171 | +2.2% |
| Other operating charges | 640/8 | €12,427 | €13,490 | +€1,063 | +8.6% |
| Gross operating margin | 9900 | €833,175 | €692,923 | -€140,251 | -16.8% |
| Operating profit (loss) | 9901 | €20,135 | -€32,495 | -€52,630 | |
| Financial income | 75/76B | €15,026 | €9,947 | -€5,079 | -33.8% |
| Recurring financial income | 75 | €15,026 | €9,947 | -€5,079 | -33.8% |
| Financial charges | 65/66B | €174 | €637 | +€463 | +265.7% |
| Recurring financial charges | 65 | €174 | €637 | +€463 | +265.7% |
| Profit (loss) for the period before taxes | 9903 | €34,987 | -€23,186 | -€58,172 | |
| Income taxes | 67/77 | €13,183 | €1,188 | -€11,996 | -91.0% |
| Profit (loss) for the period | 9904 | €21,803 | -€24,373 | -€46,176 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,803 | -€24,373 | -€46,176 |
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 3 October 2026 via checked.be.