BENJO: 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.
BENJO
Largest movements
- Current investments -€1.6m
no longer reported in 2025 (was €1.6m)
- Receivables within one year +€1.5m
up €1.5m (+479.6%), from €317,871 to €1.8m
of which Other amounts receivable: +€1.5m
- Tangible fixed assets +€80,514
up €80,514 (+26.7%), from €301,890 to €382,404
of which Land and buildings: +€96,050
- Stocks and contracts -€39,957
down €39,957 (-18.2%), from €220,142 to €180,185
- Reserves -€2.0m
down €2.0m (-81.0%), from €2.5m to €467,267
of which Distributable reserves: -€2.0m
- Other debts +€1.7m
new in 2025: €1.7m
- Profit (loss) carried forward +€157,002
no longer reported in 2025 (was -€157,002)
- Debts after one year +€81,469
up €81,469 (+125.5%), from €64,894 to €146,363
of which Financial debts: +€74,849
- Trade debts -€65,469
down €65,469 (-79.3%), from €82,559 to €17,089
- Turnover +€1.1m
new in 2025: €1.1m
- Purchases and services +€919,033
new in 2025: €919,033
- Financial charges +€228,772
up €228,772 (+393.6%), from €58,125 to €286,897
- Staff costs -€91,320
down €91,320 (-45.1%), from €202,497 to €111,177
- Financial income +€43,211
up €43,211 (+74.8%), from €57,750 to €100,961
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 | €2,548,202 | €2,461,542 | -€86,660 | -3.4% |
| Fixed assets | 21/28 | €302,790 | €382,404 | +€79,614 | +26.3% |
| Tangible fixed assets | 22/27 | €301,890 | €382,404 | +€80,514 | +26.7% |
| Land and buildings | 22 | €284,504 | €380,554 | +€96,050 | +33.8% |
| Plant, machinery and equipment | 23 | €366 | - | -€366 | |
| Furniture and vehicles | 24 | €17,020 | €1,850 | -€15,170 | -89.1% |
| Financial fixed assets | 28 | €900 | - | -€900 | |
| Current assets | 29/58 | €2,245,412 | €2,079,138 | -€166,274 | -7.4% |
| Stocks and contracts in progress | 3 | €220,142 | €180,185 | -€39,957 | -18.2% |
| Stocks | 30/36 | €220,142 | €180,185 | -€39,957 | -18.2% |
| Amounts receivable within one year | 40/41 | €317,871 | €1,842,313 | +€1.5m | +479.6% |
| Trade receivables | 40 | €94,192 | €142,706 | +€48,514 | +51.5% |
| Other amounts receivable | 41 | €223,679 | €1,699,608 | +€1.5m | +659.8% |
| Current investments | 50/53 | €1,633,108 | - | -€1.6m | |
| Cash at bank and in hand | 54/58 | €59,184 | €56,640 | -€2,544 | -4.3% |
| Deferred charges and accrued income | 490/1 | €15,107 | - | -€15,107 | |
| Total equity and liabilities | 10/49 | €2,548,202 | €2,461,542 | -€86,660 | -3.4% |
| Equity | 10/15 | €2,366,628 | €529,267 | -€1.8m | -77.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,461,630 | €467,267 | -€2.0m | -81.0% |
| Non-distributable reserves | 130/1 | €30,700 | €30,700 | = | 0.0% |
| Legal reserve | 130 | €30,700 | €30,700 | = | 0.0% |
| Distributable reserves | 133 | €2,430,930 | €436,567 | -€2.0m | -82.0% |
| Profit (loss) carried forward | 14 | -€157,002 | - | +€157,002 | |
| Amounts payable | 17/49 | €181,574 | €1,932,275 | +€1.8m | +964.2% |
| Amounts payable after more than one year | 17 | €64,894 | €146,363 | +€81,469 | +125.5% |
| Financial debts | 170/4 | €64,894 | €139,743 | +€74,849 | +115.3% |
| Other amounts payable | 178/9 | - | €6,620 | +€6,620 | |
| Amounts payable within one year | 42/48 | €116,680 | €1,785,912 | +€1.7m | +1430.6% |
| Current portion of amounts payable after more than one year | 42 | €11,870 | €25,151 | +€13,282 | +111.9% |
| Trade debts | 44 | €82,559 | €17,089 | -€65,469 | -79.3% |
| Suppliers | 440/4 | €82,559 | €17,089 | -€65,469 | -79.3% |
| Taxes, remuneration and social security | 45 | €22,252 | €43,671 | +€21,420 | +96.3% |
| Taxes | 450/3 | €5,740 | €34,672 | +€28,932 | +504.1% |
| Remuneration and social security | 454/9 | €16,512 | €8,999 | -€7,512 | -45.5% |
| Other amounts payable | 47/48 | - | €1,700,000 | +€1.7m | |
| Turnover | 70 | - | €1,112,454 | +€1.1m | |
| Non-recurring operating income | 76A | €5,579 | €1,724 | -€3,854 | -69.1% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €919,033 | +€919,033 | |
| Remuneration, social security and pensions | 62 | €202,497 | €111,177 | -€91,320 | -45.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,962 | €19,858 | -€9,104 | -31.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€13,560 | -€12,779 | +€781 | +5.8% |
| Other operating charges | 640/8 | €11,890 | €10,315 | -€1,575 | -13.2% |
| Non-recurring operating charges | 66A | €1,919 | - | -€1,919 | |
| Gross operating margin | 9900 | €164,222 | €195,146 | +€30,923 | +18.8% |
| Operating profit (loss) | 9901 | -€67,485 | €66,575 | +€134,061 | |
| Financial income | 75/76B | €57,750 | €100,961 | +€43,211 | +74.8% |
| Recurring financial income | 75 | €57,750 | €100,961 | +€43,211 | +74.8% |
| Financial charges | 65/66B | €58,125 | €286,897 | +€228,772 | +393.6% |
| Recurring financial charges | 65 | €58,125 | €286,897 | +€228,772 | +393.6% |
| Profit (loss) for the period before taxes | 9903 | -€67,860 | -€119,361 | -€51,501 | -75.9% |
| Income taxes | 67/77 | €515 | €18,000 | +€17,485 | +3397.7% |
| Profit (loss) for the period | 9904 | -€68,375 | -€137,361 | -€68,986 | -100.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€68,375 | -€137,361 | -€68,986 | -100.9% |
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 2 October 2026 via checked.be.