BENELUC: 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.
BENELUC
Largest movements
- Cash +€130,468
up €130,468 (+226.4%), from €57,616 to €188,084
mainly Net result for the year (+€99,448) and Depreciation (+€45,408)
- Tangible fixed assets -€41,555
down €41,555 (-5.8%), from €711,733 to €670,178
of which Land and buildings: -€24,423
- Receivables within one year +€16,015
up €16,015 (+13.7%), from €116,870 to €132,886
of which Other amounts receivable: +€10,570
- Profit (loss) carried forward +€99,448
up €99,448 (+22.8%), from -€435,986 to -€336,539
- Debts after one year -€17,999
down €17,999 (-43.2%), from €41,647 to €23,648
- Tax, wage and social debts +€17,213
up €17,213 (+43.0%), from €40,019 to €57,232
of which Taxes: +€17,199
- Taxes -€107,473
down €107,473 (-96.1%), from €111,889 to €4,416
- Gross operating margin +€40,742
up €40,742 (+26.4%), from €154,329 to €195,071
- Other operating charges -€30,887
down €30,887 (-92.5%), from €33,386 to €2,498
- Financial charges -€13,275
down €13,275 (-23.5%), from €56,576 to €43,301
- Depreciation +€3,283
up €3,283 (+7.8%), from €42,125 to €45,408
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 | €886,484 | €991,301 | +€104,817 | +11.8% |
| Fixed assets | 21/28 | €711,733 | €670,178 | -€41,555 | -5.8% |
| Tangible fixed assets | 22/27 | €711,733 | €670,178 | -€41,555 | -5.8% |
| Land and buildings | 22 | €643,425 | €619,001 | -€24,423 | -3.8% |
| Plant, machinery and equipment | 23 | - | €570 | +€570 | |
| Furniture and vehicles | 24 | €945 | €690 | -€255 | -27.0% |
| Leasing and similar rights | 25 | €56,258 | €38,812 | -€17,446 | -31.0% |
| Other tangible fixed assets | 26 | €11,105 | €11,105 | = | 0.0% |
| Current assets | 29/58 | €174,751 | €321,123 | +€146,372 | +83.8% |
| Amounts receivable within one year | 40/41 | €116,870 | €132,886 | +€16,015 | +13.7% |
| Trade receivables | 40 | €17,942 | €23,387 | +€5,445 | +30.3% |
| Other amounts receivable | 41 | €98,928 | €109,498 | +€10,570 | +10.7% |
| Cash at bank and in hand | 54/58 | €57,616 | €188,084 | +€130,468 | +226.4% |
| Deferred charges and accrued income | 490/1 | €265 | €153 | -€112 | -42.2% |
| Total equity and liabilities | 10/49 | €886,484 | €991,301 | +€104,817 | +11.8% |
| Equity | 10/15 | €86,740 | €186,188 | +€99,448 | +114.7% |
| Contributions | 10/11 | €522,323 | €522,323 | = | 0.0% |
| Reserves | 13 | €403 | €403 | = | 0.0% |
| Distributable reserves | 133 | €403 | €403 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€435,986 | -€336,539 | +€99,448 | +22.8% |
| Amounts payable | 17/49 | €799,744 | €805,114 | +€5,370 | +0.7% |
| Amounts payable after more than one year | 17 | €41,647 | €23,648 | -€17,999 | -43.2% |
| Financial debts | 170/4 | €41,647 | €23,648 | -€17,999 | -43.2% |
| Amounts payable within one year | 42/48 | €758,097 | €781,466 | +€23,369 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €17,221 | €17,999 | +€779 | +4.5% |
| Trade debts | 44 | €403 | €1,634 | +€1,231 | +305.4% |
| Suppliers | 440/4 | €403 | €1,634 | +€1,231 | +305.4% |
| Taxes, remuneration and social security | 45 | €40,019 | €57,232 | +€17,213 | +43.0% |
| Taxes | 450/3 | €37,519 | €54,718 | +€17,199 | +45.8% |
| Remuneration and social security | 454/9 | €2,500 | €2,514 | +€14 | +0.6% |
| Other amounts payable | 47/48 | €700,454 | €704,600 | +€4,146 | +0.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,125 | €45,408 | +€3,283 | +7.8% |
| Other operating charges | 640/8 | €33,386 | €2,498 | -€30,887 | -92.5% |
| Gross operating margin | 9900 | €154,329 | €195,071 | +€40,742 | +26.4% |
| Operating profit (loss) | 9901 | €78,819 | €147,165 | +€68,346 | +86.7% |
| Financial charges | 65/66B | €56,576 | €43,301 | -€13,275 | -23.5% |
| Recurring financial charges | 65 | €56,576 | €43,301 | -€13,275 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €22,243 | €103,864 | +€81,621 | +366.9% |
| Income taxes | 67/77 | €111,889 | €4,416 | -€107,473 | -96.1% |
| Profit (loss) for the period | 9904 | -€89,646 | €99,448 | +€189,094 | |
| Profit (loss) for the period to be appropriated | 9905 | -€89,646 | €99,448 | +€189,094 |
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 29 September 2026 via checked.be.