BENELEC: 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.
BENELEC
Largest movements
- Deferred charges and accrued income +€11,795
up €11,795 (+614.6%), from €1,919 to €13,715
- Cash -€8,179
down €8,179 (-41.2%), from €19,849 to €11,670
mainly Deferred charges and accrued income (-€11,795) and Contributions, distributions and other (-€8,000)
- Tangible fixed assets -€5,680
down €5,680 (-27.6%), from €20,581 to €14,901
of which Furniture and vehicles: -€4,643
- Receivables within one year +€2,558
up €2,558 (+11.1%), from €23,125 to €25,682
of which Trade receivables: +€4,045
- Stocks and contracts -€2,390
down €2,390 (-21.8%), from €10,985 to €8,595
- Other debts +€6,004
up €6,004 (+376.1%), from €1,596 to €7,600
- Trade debts -€3,827
down €3,827 (-35.3%), from €10,848 to €7,021
- Reserves -€2,140
down €2,140 (-4.7%), from €45,086 to €42,946
of which Distributable reserves: -€2,140
- Tax, wage and social debts -€1,389
down €1,389 (-44.2%), from €3,139 to €1,750
- Gross operating margin -€18,092
down €18,092 (-57.3%), from €31,593 to €13,502
- Taxes -€5,582
down €5,582 (-63.7%), from €8,770 to €3,188
- Depreciation -€1,188
down €1,188 (-24.7%), from €4,811 to €3,623
- Financial charges -€881
down €881 (-86.1%), from €1,023 to €142
- Financial income -€471
down €471 (-62.0%), from €759 to €288
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 | €76,528 | €74,632 | -€1,895 | -2.5% |
| Fixed assets | 21/28 | €20,651 | €14,971 | -€5,680 | -27.5% |
| Tangible fixed assets | 22/27 | €20,581 | €14,901 | -€5,680 | -27.6% |
| Land and buildings | 22 | €11,157 | €9,781 | -€1,376 | -12.3% |
| Plant, machinery and equipment | 23 | €1,455 | €2,846 | +€1,391 | +95.6% |
| Furniture and vehicles | 24 | €5,614 | €972 | -€4,643 | -82.7% |
| Other tangible fixed assets | 26 | €755 | €503 | -€252 | -33.3% |
| Assets under construction and advance payments | 27 | €1,600 | €800 | -€800 | -50.0% |
| Financial fixed assets | 28 | €69 | €69 | = | 0.0% |
| Current assets | 29/58 | €55,877 | €59,662 | +€3,784 | +6.8% |
| Stocks and contracts in progress | 3 | €10,985 | €8,595 | -€2,390 | -21.8% |
| Stocks | 30/36 | €10,985 | €8,595 | -€2,390 | -21.8% |
| Amounts receivable within one year | 40/41 | €23,125 | €25,682 | +€2,558 | +11.1% |
| Trade receivables | 40 | €19,918 | €23,963 | +€4,045 | +20.3% |
| Other amounts receivable | 41 | €3,207 | €1,719 | -€1,487 | -46.4% |
| Cash at bank and in hand | 54/58 | €19,849 | €11,670 | -€8,179 | -41.2% |
| Deferred charges and accrued income | 490/1 | €1,919 | €13,715 | +€11,795 | +614.6% |
| Total equity and liabilities | 10/49 | €76,528 | €74,632 | -€1,895 | -2.5% |
| Equity | 10/15 | €60,391 | €58,261 | -€2,130 | -3.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €45,086 | €42,946 | -€2,140 | -4.7% |
| Tax-exempt reserves | 132 | €14,527 | €14,527 | = | 0.0% |
| Distributable reserves | 133 | €30,559 | €28,419 | -€2,140 | -7.0% |
| Profit (loss) carried forward | 14 | €2,905 | €2,915 | +€10 | +0.4% |
| Amounts payable | 17/49 | €16,137 | €16,371 | +€234 | +1.5% |
| Amounts payable within one year | 42/48 | €16,137 | €16,371 | +€234 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €553 | €0 | -€553 | -100.0% |
| Trade debts | 44 | €10,848 | €7,021 | -€3,827 | -35.3% |
| Suppliers | 440/4 | €10,848 | €7,021 | -€3,827 | -35.3% |
| Taxes, remuneration and social security | 45 | €3,139 | €1,750 | -€1,389 | -44.2% |
| Taxes | 450/3 | €3,139 | €1,750 | -€1,389 | -44.2% |
| Other amounts payable | 47/48 | €1,596 | €7,600 | +€6,004 | +376.1% |
| Non-recurring operating income | 76A | - | €5,798 | +€5,798 | |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,811 | €3,623 | -€1,188 | -24.7% |
| Other operating charges | 640/8 | €1,041 | €966 | -€75 | -7.2% |
| Gross operating margin | 9900 | €31,593 | €13,502 | -€18,092 | -57.3% |
| Operating profit (loss) | 9901 | €25,741 | €8,912 | -€16,829 | -65.4% |
| Financial income | 75/76B | €759 | €288 | -€471 | -62.0% |
| Recurring financial income | 75 | €759 | €288 | -€471 | -62.0% |
| Financial charges | 65/66B | €1,023 | €142 | -€881 | -86.1% |
| Recurring financial charges | 65 | €1,023 | €142 | -€881 | -86.1% |
| Profit (loss) for the period before taxes | 9903 | €25,477 | €9,058 | -€16,419 | -64.4% |
| Income taxes | 67/77 | €8,770 | €3,188 | -€5,582 | -63.7% |
| Profit (loss) for the period | 9904 | €16,706 | €5,870 | -€10,836 | -64.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,706 | €5,870 | -€10,836 | -64.9% |
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 2 October 2026 via checked.be.