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
- Receivables within one year -€59,342
down €59,342 (-72.9%), from €81,447 to €22,106
of which Trade receivables: -€58,611
- Cash +€8,680
up €8,680 (+131.4%), from €6,607 to €15,288
mainly Receivables within one year (+€59,342) and Depreciation (+€8,097)
- Tangible fixed assets -€8,097
down €8,097 (-43.3%), from €18,695 to €10,598
of which Land and buildings: -€4,899
- Financial fixed assets -€1,550
down €1,550 (-100.0%), from €1,550 to €0
- Debts after one year -€40,000
down €40,000 (-100.0%), from €40,000 to €0
- Other debts -€16,255
down €16,255 (-33.8%), from €48,154 to €31,899
- Reserves -€9,500
down €9,500 (-57.6%), from €16,501 to €7,001
of which Tax-exempt reserves: -€9,500
- Trade debts +€6,117
up €6,117 (+34.8%), from €17,592 to €23,710
- Profit (loss) carried forward +€3,253
up €3,253 (+23.5%), from -€13,871 to -€10,618
- Gross operating margin -€18,524
down €18,524 (-74.2%), from €24,974 to €6,450
- Depreciation -€3,311
down €3,311 (-29.0%), from €11,409 to €8,097
- Other operating charges +€1,765
up €1,765 (+84.0%), from €2,101 to €3,866
- Financial charges -€277
down €277 (-34.6%), from €800 to €523
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 | €123,792 | €64,413 | -€59,379 | -48.0% |
| Fixed assets | 21/28 | €20,245 | €10,598 | -€9,647 | -47.7% |
| Tangible fixed assets | 22/27 | €18,695 | €10,598 | -€8,097 | -43.3% |
| Land and buildings | 22 | €14,816 | €9,917 | -€4,899 | -33.1% |
| Plant, machinery and equipment | 23 | €1,431 | €681 | -€750 | -52.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €2,448 | €0 | -€2,448 | -100.0% |
| Financial fixed assets | 28 | €1,550 | €0 | -€1,550 | -100.0% |
| Current assets | 29/58 | €103,547 | €53,815 | -€49,732 | -48.0% |
| Stocks and contracts in progress | 3 | €13,483 | €13,373 | -€110 | -0.8% |
| Stocks | 30/36 | €13,483 | €13,373 | -€110 | -0.8% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €81,447 | €22,106 | -€59,342 | -72.9% |
| Trade receivables | 40 | €78,789 | €20,178 | -€58,611 | -74.4% |
| Other amounts receivable | 41 | €2,658 | €1,927 | -€731 | -27.5% |
| Cash at bank and in hand | 54/58 | €6,607 | €15,288 | +€8,680 | +131.4% |
| Deferred charges and accrued income | 490/1 | €2,009 | €3,049 | +€1,039 | +51.7% |
| Total equity and liabilities | 10/49 | €123,792 | €64,413 | -€59,379 | -48.0% |
| Equity | 10/15 | €14,830 | €8,583 | -€6,247 | -42.1% |
| Contributions | 10/11 | €12,200 | €12,200 | = | 0.0% |
| Reserves | 13 | €16,501 | €7,001 | -€9,500 | -57.6% |
| Tax-exempt reserves | 132 | €9,500 | €0 | -€9,500 | -100.0% |
| Distributable reserves | 133 | €7,001 | €7,001 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,871 | -€10,618 | +€3,253 | +23.5% |
| Amounts payable | 17/49 | €108,963 | €55,830 | -€53,132 | -48.8% |
| Amounts payable after more than one year | 17 | €40,000 | €0 | -€40,000 | -100.0% |
| Financial debts | 170/4 | €40,000 | €0 | -€40,000 | -100.0% |
| Amounts payable within one year | 42/48 | €68,963 | €55,830 | -€13,132 | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €2,995 | €0 | -€2,995 | -100.0% |
| Trade debts | 44 | €17,592 | €23,710 | +€6,117 | +34.8% |
| Suppliers | 440/4 | €17,592 | €23,710 | +€6,117 | +34.8% |
| Taxes, remuneration and social security | 45 | €221 | €221 | = | 0.0% |
| Taxes | 450/3 | €221 | €221 | = | 0.0% |
| Other amounts payable | 47/48 | €48,154 | €31,899 | -€16,255 | -33.8% |
| Non-recurring operating income | 76A | €500 | €0 | -€500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,409 | €8,097 | -€3,311 | -29.0% |
| Other operating charges | 640/8 | €2,101 | €3,866 | +€1,765 | +84.0% |
| Gross operating margin | 9900 | €24,974 | €6,450 | -€18,524 | -74.2% |
| Operating profit (loss) | 9901 | €11,465 | -€5,513 | -€16,978 | |
| Financial income | 75/76B | €131 | €36 | -€95 | -72.4% |
| Recurring financial income | 75 | €131 | €36 | -€95 | -72.4% |
| Financial charges | 65/66B | €800 | €523 | -€277 | -34.6% |
| Recurring financial charges | 65 | €800 | €523 | -€277 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €10,796 | -€5,999 | -€16,796 | |
| Income taxes | 67/77 | €222 | €248 | +€25 | +11.4% |
| Profit (loss) for the period | 9904 | €10,574 | -€6,247 | -€16,821 | |
| Transfer from tax-exempt reserves | 789 | - | €9,500 | +€9,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,574 | €3,253 | -€7,321 | -69.2% |
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.