BENIBELGE: 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.
What changed
BENIBELGE
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€935,057
2024 · -€562,692+€1.5m
Equity
-€255,801
2024 · -€1.2m+€935,057
Cash
€4,895
2024 · €0+€4,895
Balance sheet total
€3.8m
2024 · €5.1m-€1.3m
Largest movements
Assets
- Tangible fixed assets -€1.3m
down €1.3m (-26.1%), from €5.0m to €3.7m
of which Land and buildings: -€1.3m
Equity and liabilities
- Short-term financial debts -€936,858
no longer reported in 2025 (was €936,858)
- Profit (loss) carried forward +€935,057
up €935,057 (+60.6%), from -€1.5m to -€606,961
- Other debts -€761,995
down €761,995 (-27.7%), from €2.8m to €2.0m
- Debts after one year -€691,996
down €691,996 (-32.7%), from €2.1m to €1.4m
- Current portion of long-term debt +€84,412
up €84,412 (+29.9%), from €281,996 to €366,407
Income statement
- Gross operating margin +€1.5m
up €1.5m (+51,134%), from €2,897 to €1.5m
- Depreciation -€121,147
down €121,147 (-35.2%), from €344,362 to €223,216
- Other operating charges +€41,688
up €41,688 (+52.5%), from €79,334 to €121,021
- Financial charges +€38,420
up €38,420 (+27.1%), from €141,892 to €180,313
- Provisions +€19,635
new in 2025: €19,635
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.
Result 2024
-€562,692
Gross operating margin
+€1.5m
Depreciation
+€121,147
Provisions
-€19,635
Other operating charges
-€41,688
Financial income
+€144
Financial charges
-€38,420
Taxes
-€4,883
Result 2025
€935,057
raises the resultlowers the result
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.
From operations
+€470,437
Investment
+€1.1m
Financing
-€1.5m
Cash 2024
€0
From operations (derived)
+€470,437
Net result for the year
+€935,057
Depreciation
+€223,216
Receivables within one year
+€4,251
Provisions
+€19,635
Trade debts
+€54,175
Tax, wage and social debts
+€3,566
Other debts
-€761,995
Accrued charges and deferred income
-€7,467
Investment (derived)
+€1.1m
Investment in fixed assets (net)
+€1.1m
Financing
-€1.5m
Debts after one year
-€691,996
Current portion of long-term debt
+€84,412
Short-term financial debts
-€936,858
Cash 2025
€4,895
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,077,280 | €3,775,809 | -€1.3m | -25.6% |
| Fixed assets | 21/28 | €4,990,604 | €3,688,489 | -€1.3m | -26.1% |
| Tangible fixed assets | 22/27 | €4,990,604 | €3,688,489 | -€1.3m | -26.1% |
| Land and buildings | 22 | €4,980,952 | €3,688,489 | -€1.3m | -25.9% |
| Furniture and vehicles | 24 | €9,652 | - | -€9,652 | |
| Current assets | 29/58 | €86,676 | €87,320 | +€644 | +0.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €86,676 | €82,425 | -€4,251 | -4.9% |
| Trade receivables | 40 | €0 | €75,747 | +€75,747 | |
| Other amounts receivable | 41 | €86,676 | €6,678 | -€79,998 | -92.3% |
| Cash at bank and in hand | 54/58 | €0 | €4,895 | +€4,895 | |
| Total equity and liabilities | 10/49 | €5,077,280 | €3,775,809 | -€1.3m | -25.6% |
| Equity | 10/15 | -€1,190,858 | -€255,801 | +€935,057 | +78.5% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €1,160 | €1,160 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,160 | €1,160 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,160 | €1,160 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,542,018 | -€606,961 | +€935,057 | +60.6% |
| Provisions and deferred taxes | 16 | - | €19,635 | +€19,635 | |
| Provisions for liabilities and charges | 160/5 | - | €19,635 | +€19,635 | |
| Other liabilities and charges | 164/5 | - | €19,635 | +€19,635 | |
| Amounts payable | 17/49 | €6,268,139 | €4,011,975 | -€2.3m | -36.0% |
| Amounts payable after more than one year | 17 | €2,115,095 | €1,423,099 | -€691,996 | -32.7% |
| Financial debts | 170/4 | €2,115,095 | €1,423,099 | -€691,996 | -32.7% |
| Amounts payable within one year | 42/48 | €4,141,869 | €2,585,169 | -€1.6m | -37.6% |
| Current portion of amounts payable after more than one year | 42 | €281,996 | €366,407 | +€84,412 | +29.9% |
| Financial debts | 43 | €936,858 | - | -€936,858 | |
| Credit institutions | 430/8 | €936,858 | - | -€936,858 | |
| Trade debts | 44 | €164,852 | €219,027 | +€54,175 | +32.9% |
| Suppliers | 440/4 | €164,852 | €219,027 | +€54,175 | +32.9% |
| Taxes, remuneration and social security | 45 | €4,677 | €8,243 | +€3,566 | +76.2% |
| Taxes | 450/3 | €4,677 | €8,243 | +€3,566 | +76.2% |
| Other amounts payable | 47/48 | €2,753,487 | €1,991,492 | -€761,995 | -27.7% |
| Accrued charges and deferred income | 492/3 | €11,174 | €3,707 | -€7,467 | -66.8% |
| Non-recurring operating income | 76A | - | €1,561,080 | +€1.6m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €344,362 | €223,216 | -€121,147 | -35.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €19,635 | +€19,635 | |
| Other operating charges | 640/8 | €79,334 | €121,021 | +€41,688 | +52.5% |
| Gross operating margin | 9900 | €2,897 | €1,483,980 | +€1.5m | +51,134% |
| Operating profit (loss) | 9901 | -€420,799 | €1,120,108 | +€1.5m | |
| Financial income | 75/76B | - | €144 | +€144 | |
| Recurring financial income | 75 | - | €144 | +€144 | |
| Financial charges | 65/66B | €141,892 | €180,313 | +€38,420 | +27.1% |
| Recurring financial charges | 65 | €141,892 | €180,313 | +€38,420 | +27.1% |
| Profit (loss) for the period before taxes | 9903 | -€562,692 | €939,940 | +€1.5m | |
| Income taxes | 67/77 | - | €4,883 | +€4,883 | |
| Profit (loss) for the period | 9904 | -€562,692 | €935,057 | +€1.5m | |
| Profit (loss) for the period to be appropriated | 9905 | -€562,692 | €935,057 | +€1.5m |
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 16 October 2026 via checked.be.