BENJAD: 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.
BENJAD
Largest movements
- Current investments -€2.2m
down €2.2m (-41.5%), from €5.2m to €3.1m
- Tangible fixed assets +€561,265
up €561,265 (+77.1%), from €727,858 to €1.3m
of which Land and buildings: +€466,797
- Cash +€336,966
up €336,966 (+207%), from €162,815 to €499,780
mainly Current investments (+€2.2m) and Other debts (+€338,104)
- Receivables within one year +€140,067
up €140,067 (+29.4%), from €476,271 to €616,338
of which Trade receivables: +€118,338
- Reserves -€1.0m
down €1.0m (-21.9%), from €4.6m to €3.6m
of which Distributable reserves: -€1.0m
- Debts after one year -€734,040
down €734,040 (-55.5%), from €1.3m to €587,901
of which Other amounts payable: -€880,000
- Other debts +€338,104
up €338,104 (+48.8%), from €692,491 to €1.0m
- Contributions +€197,500
up €197,500 (+43.9%), from €450,000 to €647,500
- Tax, wage and social debts +€84,091
up €84,091 (+67.6%), from €124,456 to €208,547
of which Taxes: +€67,291
- Financial income -€3.1m
down €3.1m (-96.5%), from €3.2m to €111,285
of which Financial income: -€3.0m
- Gross operating margin +€264,740
up €264,740, from -€98,228 to €166,512
- Taxes -€71,381
down €71,381 (-64.6%), from €110,456 to €39,075
- Depreciation +€52,546
up €52,546 (+182%), from €28,918 to €81,464
- Financial charges -€46,039
down €46,039 (-65.4%), from €70,365 to €24,326
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 | €7,253,876 | €6,125,823 | -€1.1m | -15.6% |
| Fixed assets | 21/28 | €752,858 | €1,314,123 | +€561,265 | +74.6% |
| Tangible fixed assets | 22/27 | €727,858 | €1,289,123 | +€561,265 | +77.1% |
| Land and buildings | 22 | €674,971 | €1,141,768 | +€466,797 | +69.2% |
| Plant, machinery and equipment | 23 | - | €3,923 | +€3,923 | |
| Furniture and vehicles | 24 | €3,623 | €3,510 | -€113 | -3.1% |
| Leasing and similar rights | 25 | €49,264 | €139,922 | +€90,658 | +184% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €6,501,017 | €4,811,700 | -€1.7m | -26.0% |
| Amounts receivable after more than one year | 29 | €400,000 | €400,000 | = | 0.0% |
| Other amounts receivable | 291 | €400,000 | €400,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €218,380 | €218,380 | = | 0.0% |
| Stocks | 30/36 | €218,380 | €218,380 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €476,271 | €616,338 | +€140,067 | +29.4% |
| Trade receivables | 40 | - | €118,338 | +€118,338 | |
| Other amounts receivable | 41 | €476,271 | €498,000 | +€21,729 | +4.6% |
| Current investments | 50/53 | €5,241,050 | €3,064,602 | -€2.2m | -41.5% |
| Cash at bank and in hand | 54/58 | €162,815 | €499,780 | +€336,966 | +207% |
| Deferred charges and accrued income | 490/1 | €2,502 | €12,600 | +€10,098 | +404% |
| Total equity and liabilities | 10/49 | €7,253,876 | €6,125,823 | -€1.1m | -15.6% |
| Equity | 10/15 | €5,023,316 | €4,220,317 | -€802,998 | -16.0% |
| Contributions | 10/11 | €450,000 | €647,500 | +€197,500 | +43.9% |
| Reserves | 13 | €4,573,316 | €3,572,817 | -€1.0m | -21.9% |
| Non-distributable reserves | 130/1 | €45,000 | €45,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €45,000 | €45,000 | = | 0.0% |
| Distributable reserves | 133 | €4,528,316 | €3,527,817 | -€1.0m | -22.1% |
| Amounts payable | 17/49 | €2,230,560 | €1,905,505 | -€325,055 | -14.6% |
| Amounts payable after more than one year | 17 | €1,321,940 | €587,901 | -€734,040 | -55.5% |
| Financial debts | 170/4 | €301,940 | €447,901 | +€145,960 | +48.3% |
| Other amounts payable | 178/9 | €1,020,000 | €140,000 | -€880,000 | -86.3% |
| Amounts payable within one year | 42/48 | €908,620 | €1,317,605 | +€408,985 | +45.0% |
| Current portion of amounts payable after more than one year | 42 | €36,171 | €77,502 | +€41,331 | +114% |
| Trade debts | 44 | €55,503 | €960 | -€54,542 | -98.3% |
| Suppliers | 440/4 | €55,503 | €960 | -€54,542 | -98.3% |
| Taxes, remuneration and social security | 45 | €124,456 | €208,547 | +€84,091 | +67.6% |
| Taxes | 450/3 | €124,456 | €191,747 | +€67,291 | +54.1% |
| Remuneration and social security | 454/9 | - | €16,800 | +€16,800 | |
| Other amounts payable | 47/48 | €692,491 | €1,030,595 | +€338,104 | +48.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,918 | €81,464 | +€52,546 | +182% |
| Other operating charges | 640/8 | €10,620 | €16,689 | +€6,069 | +57.2% |
| Gross operating margin | 9900 | -€98,228 | €166,512 | +€264,740 | |
| Operating profit (loss) | 9901 | -€137,765 | €68,360 | +€206,125 | |
| Financial income | 75/76B | €3,172,470 | €111,285 | -€3.1m | -96.5% |
| Recurring financial income | 75 | €3,138,206 | €111,285 | -€3.0m | -96.5% |
| Non-recurring financial income | 76B | €34,264 | - | -€34,264 | |
| Financial charges | 65/66B | €70,365 | €24,326 | -€46,039 | -65.4% |
| Recurring financial charges | 65 | €70,365 | €24,326 | -€46,039 | -65.4% |
| Profit (loss) for the period before taxes | 9903 | €2,964,340 | €155,319 | -€2.8m | -94.8% |
| Income taxes | 67/77 | €110,456 | €39,075 | -€71,381 | -64.6% |
| Profit (loss) for the period | 9904 | €2,853,885 | €116,244 | -€2.7m | -95.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,853,885 | €116,244 | -€2.7m | -95.9% |
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 15 October 2026 via checked.be.