BENOIT DENIS: 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.
BENOIT DENIS
Largest movements
- Tangible fixed assets +€17,100
up €17,100 (+316%), from €5,411 to €22,511
of which Furniture and vehicles: +€18,456
- Receivables within one year +€5,055
up €5,055 (+10.4%), from €48,579 to €53,634
of which Trade receivables: +€20,853
- Trade debts +€27,733
up €27,733 (+17,664%), from €157 to €27,890
- Profit (loss) carried forward -€10,833
down €10,833 (-26.8%), from -€40,492 to -€51,325
- Short-term financial debts +€6,746
up €6,746 (+60.3%), from €11,179 to €17,925
- Other debts -€1,533
down €1,533 (-44.7%), from €3,433 to €1,900
- Gross operating margin -€14,194
down €14,194 (-28.2%), from €50,293 to €36,099
- Depreciation +€4,937
up €4,937 (+161%), from €3,068 to €8,005
- Taxes -€2,097
down €2,097 (-89.8%), from €2,335 to €238
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €54,965 | €76,591 | +€21,626 | +39.3% |
| Fixed assets | 21/28 | €5,857 | €22,957 | +€17,100 | +292% |
| Tangible fixed assets | 22/27 | €5,411 | €22,511 | +€17,100 | +316% |
| Plant, machinery and equipment | 23 | €1,955 | €599 | -€1,356 | -69.4% |
| Furniture and vehicles | 24 | €3,456 | €21,912 | +€18,456 | +534% |
| Financial fixed assets | 28 | €446 | €446 | = | 0.0% |
| Current assets | 29/58 | €49,108 | €53,634 | +€4,526 | +9.2% |
| Amounts receivable within one year | 40/41 | €48,579 | €53,634 | +€5,055 | +10.4% |
| Trade receivables | 40 | €16,108 | €36,961 | +€20,853 | +129% |
| Other amounts receivable | 41 | €32,471 | €16,673 | -€15,798 | -48.7% |
| Deferred charges and accrued income | 490/1 | €529 | - | -€529 | |
| Total equity and liabilities | 10/49 | €54,965 | €76,591 | +€21,626 | +39.3% |
| Equity | 10/15 | €28,464 | €17,631 | -€10,833 | -38.1% |
| Contributions | 10/11 | €68,956 | €68,956 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,492 | -€51,325 | -€10,833 | -26.8% |
| Amounts payable | 17/49 | €26,501 | €58,960 | +€32,459 | +122% |
| Amounts payable within one year | 42/48 | €25,428 | €57,737 | +€32,309 | +127% |
| Financial debts | 43 | €11,179 | €17,925 | +€6,746 | +60.3% |
| Credit institutions | 430/8 | €11,179 | €17,925 | +€6,746 | +60.3% |
| Trade debts | 44 | €157 | €27,890 | +€27,733 | +17,664% |
| Suppliers | 440/4 | €157 | €27,890 | +€27,733 | +17,664% |
| Taxes, remuneration and social security | 45 | €10,659 | €10,022 | -€637 | -6.0% |
| Taxes | 450/3 | €6,963 | €5,613 | -€1,350 | -19.4% |
| Remuneration and social security | 454/9 | €3,696 | €4,409 | +€713 | +19.3% |
| Other amounts payable | 47/48 | €3,433 | €1,900 | -€1,533 | -44.7% |
| Accrued charges and deferred income | 492/3 | €1,073 | €1,223 | +€150 | +14.0% |
| Remuneration, social security and pensions | 62 | €34,066 | €33,936 | -€130 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,068 | €8,005 | +€4,937 | +161% |
| Other operating charges | 640/8 | €1,589 | €1,791 | +€202 | +12.7% |
| Gross operating margin | 9900 | €50,293 | €36,099 | -€14,194 | -28.2% |
| Operating profit (loss) | 9901 | €11,570 | -€7,633 | -€19,203 | |
| Financial income | 75/76B | €4 | €16 | +€12 | +300% |
| Recurring financial income | 75 | €4 | €16 | +€12 | +300% |
| Financial charges | 65/66B | €2,775 | €2,978 | +€203 | +7.3% |
| Recurring financial charges | 65 | €2,775 | €2,978 | +€203 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €8,799 | -€10,595 | -€19,394 | |
| Income taxes | 67/77 | €2,335 | €238 | -€2,097 | -89.8% |
| Profit (loss) for the period | 9904 | €6,464 | -€10,833 | -€17,297 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,464 | -€10,833 | -€17,297 |
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.