Benjamin BENEUX: 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.
Benjamin BENEUX
Largest movements
- Receivables within one year +€133,850
up €133,850 (+63.1%), from €212,096 to €345,946
of which Other amounts receivable: +€119,624
- Current investments +€24,270
up €24,270 (+60.5%), from €40,094 to €64,364
- Reserves +€143,455
up €143,455 (+48.4%), from €296,468 to €439,923
of which Distributable reserves: +€101,355
- Other debts +€106,710
up €106,710 (+213%), from €50,162 to €156,872
- Debts after one year -€54,199
down €54,199 (-8.0%), from €675,009 to €620,810
- Profit (loss) carried forward -€43,371
no longer reported in 2025 (was €43,371)
- Gross operating margin +€13,209
up €13,209 (+6.8%), from €194,361 to €207,571
- Depreciation -€7,158
down €7,158 (-69.1%), from €10,362 to €3,204
- Taxes +€4,458
up €4,458 (+9.0%), from €49,644 to €54,102
- Financial income +€2,232
up €2,232 (+47.4%), from €4,709 to €6,940
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 | €1,134,929 | €1,280,600 | +€145,671 | +12.8% |
| Fixed assets | 21/28 | €869,212 | €866,008 | -€3,204 | -0.4% |
| Tangible fixed assets | 22/27 | €4,212 | €1,008 | -€3,204 | -76.1% |
| Furniture and vehicles | 24 | €2,694 | €282 | -€2,412 | -89.5% |
| Other tangible fixed assets | 26 | €1,518 | €726 | -€792 | -52.2% |
| Financial fixed assets | 28 | €865,000 | €865,000 | = | 0.0% |
| Current assets | 29/58 | €265,718 | €414,593 | +€148,875 | +56.0% |
| Amounts receivable within one year | 40/41 | €212,096 | €345,946 | +€133,850 | +63.1% |
| Trade receivables | 40 | €128,252 | €142,479 | +€14,227 | +11.1% |
| Other amounts receivable | 41 | €83,844 | €203,468 | +€119,624 | +143% |
| Current investments | 50/53 | €40,094 | €64,364 | +€24,270 | +60.5% |
| Cash at bank and in hand | 54/58 | €13,431 | €4,282 | -€9,149 | -68.1% |
| Deferred charges and accrued income | 490/1 | €97 | - | -€97 | |
| Total equity and liabilities | 10/49 | €1,134,929 | €1,280,600 | +€145,671 | +12.8% |
| Equity | 10/15 | €340,839 | €440,923 | +€100,084 | +29.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €296,468 | €439,923 | +€143,455 | +48.4% |
| Tax-exempt reserves | 132 | €84,200 | €126,300 | +€42,100 | +50.0% |
| Distributable reserves | 133 | €212,268 | €313,623 | +€101,355 | +47.7% |
| Profit (loss) carried forward | 14 | €43,371 | - | -€43,371 | |
| Amounts payable | 17/49 | €794,090 | €839,677 | +€45,587 | +5.7% |
| Amounts payable after more than one year | 17 | €675,009 | €620,810 | -€54,199 | -8.0% |
| Financial debts | 170/4 | €675,009 | €620,810 | -€54,199 | -8.0% |
| Amounts payable within one year | 42/48 | €116,519 | €215,366 | +€98,848 | +84.8% |
| Current portion of amounts payable after more than one year | 42 | €55,933 | €54,199 | -€1,734 | -3.1% |
| Trade debts | 44 | €688 | €194 | -€494 | -71.8% |
| Suppliers | 440/4 | €688 | €194 | -€494 | -71.8% |
| Taxes, remuneration and social security | 45 | €9,735 | €4,102 | -€5,634 | -57.9% |
| Taxes | 450/3 | €9,735 | €4,102 | -€5,634 | -57.9% |
| Other amounts payable | 47/48 | €50,162 | €156,872 | +€106,710 | +213% |
| Accrued charges and deferred income | 492/3 | €2,563 | €3,501 | +€938 | +36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,362 | €3,204 | -€7,158 | -69.1% |
| Other operating charges | 640/8 | €659 | €953 | +€293 | +44.5% |
| Gross operating margin | 9900 | €194,361 | €207,571 | +€13,209 | +6.8% |
| Operating profit (loss) | 9901 | €183,340 | €203,414 | +€20,074 | +10.9% |
| Financial income | 75/76B | €4,709 | €6,940 | +€2,232 | +47.4% |
| Recurring financial income | 75 | €4,709 | €6,940 | +€2,232 | +47.4% |
| Financial charges | 65/66B | €12,942 | €12,798 | -€144 | -1.1% |
| Recurring financial charges | 65 | €12,942 | €12,798 | -€144 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €175,107 | €197,557 | +€22,450 | +12.8% |
| Income taxes | 67/77 | €49,644 | €54,102 | +€4,458 | +9.0% |
| Profit (loss) for the period | 9904 | €125,463 | €143,455 | +€17,992 | +14.3% |
| Transfer to tax-exempt reserves | 689 | €42,100 | €42,100 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €83,363 | €101,355 | +€17,992 | +21.6% |
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 13 October 2026 via checked.be.