BENELUX: 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.
BENELUX
Largest movements
- Cash -€50,465
down €50,465 (-68.4%), from €73,786 to €23,320
mainly Contributions, distributions and other (-€35,448) and Other debts (-€20,039)
- Tangible fixed assets -€15,748
down €15,748 (-9.3%), from €169,825 to €154,077
of which Other tangible fixed assets: -€10,500
- Receivables within one year +€4,985
up €4,985, from €0 to €4,985
of which Other amounts receivable: +€3,081
- Profit (loss) carried forward -€35,448
down €35,448 (-100%), from €35,448 to €0
- Other debts -€20,039
down €20,039 (-14.1%), from €141,800 to €121,761
- Debts after one year -€6,889
down €6,889 (-14.9%), from €46,211 to €39,321
- Reserves +€6,070
new in 2025: €6,070
- Tax, wage and social debts -€5,920
down €5,920 (-54.9%), from €10,789 to €4,870
of which Taxes: -€5,677
- Gross operating margin -€12,732
down €12,732 (-17.7%), from €71,907 to €59,175
- Staff costs +€5,048
up €5,048 (+28.8%), from €17,531 to €22,579
- Taxes -€2,551
down €2,551 (-49.6%), from €5,146 to €2,596
- Other operating charges +€1,108
up €1,108 (+14.6%), from €7,575 to €8,683
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 | €250,426 | €188,286 | -€62,140 | -24.8% |
| Fixed assets | 21/28 | €170,645 | €154,897 | -€15,748 | -9.2% |
| Tangible fixed assets | 22/27 | €169,825 | €154,077 | -€15,748 | -9.3% |
| Plant, machinery and equipment | 23 | €32,660 | €28,351 | -€4,309 | -13.2% |
| Furniture and vehicles | 24 | €6,842 | €5,902 | -€940 | -13.7% |
| Other tangible fixed assets | 26 | €130,324 | €119,824 | -€10,500 | -8.1% |
| Financial fixed assets | 28 | €820 | €820 | = | 0.0% |
| Current assets | 29/58 | €79,780 | €33,389 | -€46,391 | -58.1% |
| Stocks and contracts in progress | 3 | €5,994 | €5,084 | -€911 | -15.2% |
| Stocks | 30/36 | €5,994 | €5,084 | -€911 | -15.2% |
| Amounts receivable within one year | 40/41 | €0 | €4,985 | +€4,985 | |
| Trade receivables | 40 | €0 | €1,904 | +€1,904 | |
| Other amounts receivable | 41 | €0 | €3,081 | +€3,081 | |
| Cash at bank and in hand | 54/58 | €73,786 | €23,320 | -€50,465 | -68.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €250,426 | €188,286 | -€62,140 | -24.8% |
| Equity | 10/15 | €40,448 | €11,070 | -€29,378 | -72.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €6,070 | +€6,070 | |
| Distributable reserves | 133 | - | €6,070 | +€6,070 | |
| Profit (loss) carried forward | 14 | €35,448 | €0 | -€35,448 | -100% |
| Amounts payable | 17/49 | €209,977 | €177,216 | -€32,762 | -15.6% |
| Amounts payable after more than one year | 17 | €46,211 | €39,321 | -€6,889 | -14.9% |
| Financial debts | 170/4 | €46,211 | €39,321 | -€6,889 | -14.9% |
| Amounts payable within one year | 42/48 | €163,767 | €137,894 | -€25,872 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | €6,779 | €6,889 | +€111 | +1.6% |
| Trade debts | 44 | €4,399 | €4,374 | -€24 | -0.6% |
| Suppliers | 440/4 | €4,399 | €4,374 | -€24 | -0.6% |
| Taxes, remuneration and social security | 45 | €10,789 | €4,870 | -€5,920 | -54.9% |
| Taxes | 450/3 | €8,885 | €3,208 | -€5,677 | -63.9% |
| Remuneration and social security | 454/9 | €1,904 | €1,662 | -€242 | -12.7% |
| Other amounts payable | 47/48 | €141,800 | €121,761 | -€20,039 | -14.1% |
| Remuneration, social security and pensions | 62 | €17,531 | €22,579 | +€5,048 | +28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,748 | €15,748 | +€0 | 0.0% |
| Other operating charges | 640/8 | €7,575 | €8,683 | +€1,108 | +14.6% |
| Gross operating margin | 9900 | €71,907 | €59,175 | -€12,732 | -17.7% |
| Operating profit (loss) | 9901 | €31,053 | €12,165 | -€18,888 | -60.8% |
| Financial income | 75/76B | €0 | €3 | +€3 | +15,050% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +15,050% |
| Financial charges | 65/66B | €3,926 | €3,502 | -€424 | -10.8% |
| Recurring financial charges | 65 | €3,926 | €3,502 | -€424 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €27,127 | €8,666 | -€18,461 | -68.1% |
| Income taxes | 67/77 | €5,146 | €2,596 | -€2,551 | -49.6% |
| Profit (loss) for the period | 9904 | €21,981 | €6,070 | -€15,910 | -72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,981 | €6,070 | -€15,910 | -72.4% |
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 20 October 2026 via checked.be.