BENFICO: 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.
BENFICO
Largest movements
- Intangible fixed assets +€163,865
up €163,865 (+442%), from €37,105 to €200,970
- Cash +€22,257
up €22,257 (+63.8%), from €34,902 to €57,159
mainly Debts after one year (+€119,160) and Net result for the year (+€83,979)
- Receivables within one year +€15,021
up €15,021 (+190%), from €7,899 to €22,920
of which Trade receivables: +€15,021
- Tangible fixed assets -€6,323
down €6,323 (-21.2%), from €29,862 to €23,539
of which Other tangible fixed assets: -€5,330
- Deferred charges and accrued income +€4,773
up €4,773 (+36.2%), from €13,171 to €17,944
- Debts after one year +€119,160
new in 2025: €119,160
- Other debts +€52,271
up €52,271 (+1,329%), from €3,933 to €56,204
- Profit (loss) carried forward +€20,278
up €20,278 (+31.8%), from €63,702 to €83,979
- Current portion of long-term debt +€19,673
new in 2025: €19,673
- Trade debts -€9,408
down €9,408 (-45.0%), from €20,897 to €11,489
- Gross operating margin +€64,073
up €64,073 (+44.7%), from €143,483 to €207,555
- Depreciation +€21,662
up €21,662 (+182%), from €11,924 to €33,586
- Taxes +€12,951
up €12,951 (+68.1%), from €19,019 to €31,970
- Financial charges +€6,144
up €6,144 (+2,408%), from €255 to €6,399
- Staff costs +€3,947
up €3,947 (+8.4%), from €46,986 to €50,933
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 | €122,949 | €322,541 | +€199,593 | +162% |
| Fixed assets | 21/28 | €66,967 | €224,509 | +€157,542 | +235% |
| Intangible fixed assets | 21 | €37,105 | €200,970 | +€163,865 | +442% |
| Tangible fixed assets | 22/27 | €29,862 | €23,539 | -€6,323 | -21.2% |
| Furniture and vehicles | 24 | €2,839 | €1,846 | -€992 | -35.0% |
| Other tangible fixed assets | 26 | €27,023 | €21,693 | -€5,330 | -19.7% |
| Current assets | 29/58 | €55,982 | €98,032 | +€42,050 | +75.1% |
| Amounts receivable within one year | 40/41 | €7,899 | €22,920 | +€15,021 | +190% |
| Trade receivables | 40 | €6,918 | €21,939 | +€15,021 | +217% |
| Other amounts receivable | 41 | €981 | €981 | = | 0.0% |
| Current investments | 50/53 | €10 | €10 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €34,902 | €57,159 | +€22,257 | +63.8% |
| Deferred charges and accrued income | 490/1 | €13,171 | €17,944 | +€4,773 | +36.2% |
| Total equity and liabilities | 10/49 | €122,949 | €322,541 | +€199,593 | +162% |
| Equity | 10/15 | €84,582 | €104,860 | +€20,278 | +24.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €17,880 | €17,880 | = | 0.0% |
| Distributable reserves | 133 | €17,880 | €17,880 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,702 | €83,979 | +€20,278 | +31.8% |
| Amounts payable | 17/49 | €38,367 | €217,682 | +€179,315 | +467% |
| Amounts payable after more than one year | 17 | - | €119,160 | +€119,160 | |
| Financial debts | 170/4 | - | €119,160 | +€119,160 | |
| Amounts payable within one year | 42/48 | €30,727 | €95,645 | +€64,918 | +211% |
| Current portion of amounts payable after more than one year | 42 | - | €19,673 | +€19,673 | |
| Trade debts | 44 | €20,897 | €11,489 | -€9,408 | -45.0% |
| Suppliers | 440/4 | €20,897 | €11,489 | -€9,408 | -45.0% |
| Taxes, remuneration and social security | 45 | €5,896 | €8,279 | +€2,383 | +40.4% |
| Taxes | 450/3 | €731 | €2,895 | +€2,165 | +296% |
| Remuneration and social security | 454/9 | €5,166 | €5,384 | +€218 | +4.2% |
| Other amounts payable | 47/48 | €3,933 | €56,204 | +€52,271 | +1,329% |
| Accrued charges and deferred income | 492/3 | €7,640 | €2,876 | -€4,764 | -62.4% |
| Remuneration, social security and pensions | 62 | €46,986 | €50,933 | +€3,947 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,924 | €33,586 | +€21,662 | +182% |
| Other operating charges | 640/8 | €737 | €688 | -€49 | -6.7% |
| Gross operating margin | 9900 | €143,483 | €207,555 | +€64,073 | +44.7% |
| Operating profit (loss) | 9901 | €83,835 | €122,348 | +€38,513 | +45.9% |
| Financial charges | 65/66B | €255 | €6,399 | +€6,144 | +2,408% |
| Recurring financial charges | 65 | €255 | €6,399 | +€6,144 | +2,408% |
| Profit (loss) for the period before taxes | 9903 | €83,580 | €115,949 | +€32,369 | +38.7% |
| Income taxes | 67/77 | €19,019 | €31,970 | +€12,951 | +68.1% |
| Profit (loss) for the period | 9904 | €64,561 | €83,979 | +€19,419 | +30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €64,561 | €83,979 | +€19,419 | +30.1% |
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 24 October 2026 via checked.be.