Benjamin Elen: 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 Elen
Largest movements
- Cash -€68,175
down €68,175 (-60.5%), from €112,699 to €44,525
mainly Contributions, distributions and other (-€126,618) and Receivables after one year (-€11,003)
- Receivables after one year +€11,003
new in 2025: €11,003
- Tangible fixed assets -€5,654
down €5,654 (-17.0%), from €33,277 to €27,623
of which Furniture and vehicles: -€7,646
- Deferred charges and accrued income +€2,641
up €2,641 (+352%), from €751 to €3,392
- Profit (loss) carried forward -€62,261
no longer reported in 2025 (was €62,261)
- Tax, wage and social debts +€1,887
up €1,887 (+10.7%), from €17,711 to €19,598
- Gross operating margin +€11,355
up €11,355 (+14.0%), from €81,195 to €92,550
- Depreciation +€3,013
up €3,013 (+60.8%), from €4,952 to €7,965
- Taxes +€2,076
up €2,076 (+13.7%), from €15,186 to €17,262
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 | €149,432 | €88,693 | -€60,739 | -40.6% |
| Fixed assets | 21/28 | €33,277 | €27,623 | -€5,654 | -17.0% |
| Tangible fixed assets | 22/27 | €33,277 | €27,623 | -€5,654 | -17.0% |
| Plant, machinery and equipment | 23 | - | €1,992 | +€1,992 | |
| Furniture and vehicles | 24 | €33,277 | €25,631 | -€7,646 | -23.0% |
| Current assets | 29/58 | €116,155 | €61,070 | -€55,085 | -47.4% |
| Amounts receivable after more than one year | 29 | - | €11,003 | +€11,003 | |
| Other amounts receivable | 291 | - | €11,003 | +€11,003 | |
| Amounts receivable within one year | 40/41 | €2,705 | €2,151 | -€555 | -20.5% |
| Trade receivables | 40 | €1,141 | €349 | -€792 | -69.4% |
| Other amounts receivable | 41 | €1,564 | €1,802 | +€238 | +15.2% |
| Cash at bank and in hand | 54/58 | €112,699 | €44,525 | -€68,175 | -60.5% |
| Deferred charges and accrued income | 490/1 | €751 | €3,392 | +€2,641 | +352% |
| Total equity and liabilities | 10/49 | €149,432 | €88,693 | -€60,739 | -40.6% |
| Equity | 10/15 | €125,554 | €63,292 | -€62,261 | -49.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €48,292 | €48,292 | = | 0.0% |
| Distributable reserves | 133 | €48,292 | €48,292 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,261 | - | -€62,261 | |
| Amounts payable | 17/49 | €23,878 | €25,400 | +€1,522 | +6.4% |
| Amounts payable within one year | 42/48 | €23,878 | €25,387 | +€1,509 | +6.3% |
| Trade debts | 44 | €3,385 | €4,028 | +€643 | +19.0% |
| Suppliers | 440/4 | €3,385 | €4,028 | +€643 | +19.0% |
| Taxes, remuneration and social security | 45 | €17,711 | €19,598 | +€1,887 | +10.7% |
| Taxes | 450/3 | €17,711 | €19,598 | +€1,887 | +10.7% |
| Other amounts payable | 47/48 | €2,783 | €1,761 | -€1,021 | -36.7% |
| Accrued charges and deferred income | 492/3 | - | €13 | +€13 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,952 | €7,965 | +€3,013 | +60.8% |
| Other operating charges | 640/8 | €2,257 | €1,534 | -€723 | -32.0% |
| Gross operating margin | 9900 | €81,195 | €92,550 | +€11,355 | +14.0% |
| Operating profit (loss) | 9901 | €73,986 | €83,051 | +€9,065 | +12.3% |
| Financial income | 75/76B | €121 | €1,005 | +€884 | +731% |
| Recurring financial income | 75 | €121 | €1,005 | +€884 | +731% |
| Financial charges | 65/66B | €1,995 | €2,437 | +€442 | +22.2% |
| Recurring financial charges | 65 | €1,995 | €2,437 | +€442 | +22.2% |
| Profit (loss) for the period before taxes | 9903 | €72,112 | €81,619 | +€9,507 | +13.2% |
| Income taxes | 67/77 | €15,186 | €17,262 | +€2,076 | +13.7% |
| Profit (loss) for the period | 9904 | €56,926 | €64,357 | +€7,431 | +13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €56,926 | €64,357 | +€7,431 | +13.1% |
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 14 October 2026 via checked.be.