BENOIT DEFALQUE: 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.
BENOIT DEFALQUE
Largest movements
- Current investments +€100,000
up €100,000 (+20.0%), from €500,000 to €600,000
- Cash +€74,494
up €74,494 (+176.9%), from €42,101 to €116,595
mainly Net result for the year (+€133,738) and Receivables within one year (+€54,034)
- Receivables within one year -€54,034
down €54,034 (-72.3%), from €74,785 to €20,750
of which Trade receivables: -€74,530
- Reserves +€133,738
up €133,738 (+22.3%), from €598,935 to €732,672
- Other debts -€16,362
down €16,362 (-100.0%), from €16,362 to €0
- Financial income +€2,976
up €2,976 (+34.9%), from €8,525 to €11,501
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 | €627,697 | €745,419 | +€117,723 | +18.8% |
| Fixed assets | 21/28 | €5,223 | €4,055 | -€1,168 | -22.4% |
| Tangible fixed assets | 22/27 | €4,173 | €3,005 | -€1,168 | -28.0% |
| Plant, machinery and equipment | 23 | €1,649 | €1,610 | -€39 | -2.3% |
| Other tangible fixed assets | 26 | €2,524 | €1,395 | -€1,129 | -44.7% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €622,474 | €741,364 | +€118,890 | +19.1% |
| Amounts receivable within one year | 40/41 | €74,785 | €20,750 | -€54,034 | -72.3% |
| Trade receivables | 40 | €74,530 | €0 | -€74,530 | -100.0% |
| Other amounts receivable | 41 | €254 | €20,750 | +€20,496 | +8057.8% |
| Current investments | 50/53 | €500,000 | €600,000 | +€100,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €42,101 | €116,595 | +€74,494 | +176.9% |
| Deferred charges and accrued income | 490/1 | €5,588 | €4,019 | -€1,569 | -28.1% |
| Total equity and liabilities | 10/49 | €627,697 | €745,419 | +€117,723 | +18.8% |
| Equity | 10/15 | €611,335 | €745,072 | +€133,738 | +21.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €598,935 | €732,672 | +€133,738 | +22.3% |
| Distributable reserves | 133 | €598,935 | €732,672 | +€133,738 | +22.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €16,362 | €347 | -€16,015 | -97.9% |
| Amounts payable within one year | 42/48 | €16,362 | €87 | -€16,275 | -99.5% |
| Trade debts | 44 | €0 | €87 | +€87 | |
| Suppliers | 440/4 | €0 | €87 | +€87 | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €16,362 | €0 | -€16,362 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €260 | +€260 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,502 | €2,002 | +€500 | +33.3% |
| Other operating charges | 640/8 | €670 | €730 | +€60 | +9.0% |
| Gross operating margin | 9900 | €187,802 | €188,307 | +€505 | +0.3% |
| Operating profit (loss) | 9901 | €185,630 | €185,575 | -€55 | 0.0% |
| Financial income | 75/76B | €8,525 | €11,501 | +€2,976 | +34.9% |
| Recurring financial income | 75 | €8,525 | €11,501 | +€2,976 | +34.9% |
| Financial charges | 65/66B | €135 | €151 | +€16 | +11.7% |
| Recurring financial charges | 65 | €135 | €151 | +€16 | +11.7% |
| Profit (loss) for the period before taxes | 9903 | €194,020 | €196,925 | +€2,905 | +1.5% |
| Income taxes | 67/77 | €62,303 | €63,187 | +€884 | +1.4% |
| Profit (loss) for the period | 9904 | €131,717 | €133,738 | +€2,021 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €131,717 | €133,738 | +€2,021 | +1.5% |
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 5 October 2026 via checked.be.