BENJAMIN HVM: what changed
Two fiscal 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 HVM
Largest movements
- Current investments -€325,348
down €325,348 (-29.8%), from €1.1m to €766,860
- Cash +€78,119
up €78,119 (+753.2%), from €10,372 to €88,491
mainly Current investments (+€325,348) and Net result for the year (+€23,056)
- Financial fixed assets +€46,167
up €46,167 (+4.1%), from €1.1m to €1.2m
- Short-term financial debts -€226,500
down €226,500 (-50.0%), from €453,000 to €226,500
- Profit (loss) carried forward +€23,056
up €23,056 (+8.5%), from -€270,340 to -€247,285
- Financial charges +€30,238
up €30,238 (+112.2%), from €26,955 to €57,193
- Financial income -€682
down €682 (-0.6%), from €105,975 to €105,293
- Other operating charges +€611
up €611 (+157.8%), from €387 to €998
- Gross operating margin -€273
down €273 (-5.5%), from -€4,924 to -€5,197
- Taxes +€184
up €184 (+1.0%), from €18,665 to €18,849
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.
Cash bridge derived
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 | €2,278,658 | €2,061,477 | -€217,181 | -9.5% |
| Fixed assets | 21/28 | €1,128,327 | €1,174,494 | +€46,167 | +4.1% |
| Financial fixed assets | 28 | €1,128,327 | €1,174,494 | +€46,167 | +4.1% |
| Current assets | 29/58 | €1,150,331 | €886,983 | -€263,348 | -22.9% |
| Amounts receivable within one year | 40/41 | €47,752 | €31,632 | -€16,120 | -33.8% |
| Other amounts receivable | 41 | €47,752 | €31,632 | -€16,120 | -33.8% |
| Current investments | 50/53 | €1,092,208 | €766,860 | -€325,348 | -29.8% |
| Cash at bank and in hand | 54/58 | €10,372 | €88,491 | +€78,119 | +753.2% |
| Total equity and liabilities | 10/49 | €2,278,658 | €2,061,477 | -€217,181 | -9.5% |
| Equity | 10/15 | €1,767,060 | €1,790,116 | +€23,056 | +1.3% |
| Contributions | 10/11 | €2,037,401 | €2,037,401 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€270,340 | -€247,285 | +€23,056 | +8.5% |
| Amounts payable | 17/49 | €511,598 | €271,361 | -€240,237 | -47.0% |
| Amounts payable within one year | 42/48 | €511,598 | €271,361 | -€240,237 | -47.0% |
| Financial debts | 43 | €453,000 | €226,500 | -€226,500 | -50.0% |
| Credit institutions | 430/8 | €453,000 | €226,500 | -€226,500 | -50.0% |
| Trade debts | 44 | €6,070 | €4,961 | -€1,109 | -18.3% |
| Suppliers | 440/4 | €6,070 | €4,961 | -€1,109 | -18.3% |
| Taxes, remuneration and social security | 45 | €52,528 | €37,514 | -€15,014 | -28.6% |
| Taxes | 450/3 | €52,528 | €37,514 | -€15,014 | -28.6% |
| Other amounts payable | 47/48 | - | €2,387 | +€2,387 | |
| Other operating charges | 640/8 | €387 | €998 | +€611 | +157.8% |
| Gross operating margin | 9900 | -€4,924 | -€5,197 | -€273 | -5.5% |
| Operating profit (loss) | 9901 | -€5,311 | -€6,195 | -€884 | -16.6% |
| Financial income | 75/76B | €105,975 | €105,293 | -€682 | -0.6% |
| Recurring financial income | 75 | €105,975 | €105,293 | -€682 | -0.6% |
| Financial charges | 65/66B | €26,955 | €57,193 | +€30,238 | +112.2% |
| Recurring financial charges | 65 | €26,955 | €57,193 | +€30,238 | +112.2% |
| Profit (loss) for the period before taxes | 9903 | €73,709 | €41,905 | -€31,804 | -43.1% |
| Income taxes | 67/77 | €18,665 | €18,849 | +€184 | +1.0% |
| Profit (loss) for the period | 9904 | €55,044 | €23,056 | -€31,989 | -58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €55,044 | €23,056 | -€31,989 | -58.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.