BENOIT GILLET: 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 GILLET
Largest movements
- Receivables within one year +€26,642
up €26,642 (+43.4%), from €61,341 to €87,983
of which Trade receivables: +€25,664
- Tangible fixed assets -€13,434
down €13,434 (-30.7%), from €43,768 to €30,334
of which Furniture and vehicles: -€6,906
- Cash -€12,568
down €12,568 (-70.4%), from €17,852 to €5,284
mainly Receivables within one year (-€26,642) and Contributions, distributions and other (-€16,000)
- Stocks and contracts +€7,680
up €7,680 (+45.2%), from €17,000 to €24,680
- Other debts +€14,960
new in 2025: €14,960
- Reserves -€10,000
down €10,000 (-25.0%), from €40,040 to €30,040
of which Distributable reserves: -€10,000
- Debts after one year -€7,026
down €7,026 (-41.7%), from €16,834 to €9,809
- Trade debts +€6,633
up €6,633 (+346.9%), from €1,912 to €8,544
- Tax, wage and social debts +€2,524
up €2,524 (+69.6%), from €3,627 to €6,151
- Gross operating margin +€5,827
up €5,827 (+25.4%), from €22,956 to €28,783
- Taxes +€2,079
up €2,079 (+145.4%), from €1,430 to €3,509
- Depreciation -€837
down €837 (-5.5%), from €15,316 to €14,479
- Write-downs +€297
up €297 (+16.7%), from €1,781 to €2,078
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 | €144,650 | €152,711 | +€8,062 | +5.6% |
| Fixed assets | 21/28 | €43,968 | €30,534 | -€13,434 | -30.6% |
| Tangible fixed assets | 22/27 | €43,768 | €30,334 | -€13,434 | -30.7% |
| Plant, machinery and equipment | 23 | €8,604 | €5,188 | -€3,416 | -39.7% |
| Furniture and vehicles | 24 | €23,375 | €16,469 | -€6,906 | -29.5% |
| Other tangible fixed assets | 26 | €11,789 | €8,676 | -€3,113 | -26.4% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €100,682 | €122,178 | +€21,496 | +21.4% |
| Stocks and contracts in progress | 3 | €17,000 | €24,680 | +€7,680 | +45.2% |
| Stocks | 30/36 | €17,000 | €24,680 | +€7,680 | +45.2% |
| Amounts receivable within one year | 40/41 | €61,341 | €87,983 | +€26,642 | +43.4% |
| Trade receivables | 40 | €20,536 | €46,200 | +€25,664 | +125.0% |
| Other amounts receivable | 41 | €40,805 | €41,783 | +€978 | +2.4% |
| Cash at bank and in hand | 54/58 | €17,852 | €5,284 | -€12,568 | -70.4% |
| Deferred charges and accrued income | 490/1 | €4,489 | €4,231 | -€258 | -5.8% |
| Total equity and liabilities | 10/49 | €144,650 | €152,711 | +€8,062 | +5.6% |
| Equity | 10/15 | €115,522 | €106,221 | -€9,300 | -8.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €40,040 | €30,040 | -€10,000 | -25.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €38,180 | €28,180 | -€10,000 | -26.2% |
| Profit (loss) carried forward | 14 | €56,881 | €57,581 | +€700 | +1.2% |
| Amounts payable | 17/49 | €29,128 | €46,490 | +€17,362 | +59.6% |
| Amounts payable after more than one year | 17 | €16,834 | €9,809 | -€7,026 | -41.7% |
| Financial debts | 170/4 | €16,834 | €9,809 | -€7,026 | -41.7% |
| Amounts payable within one year | 42/48 | €12,294 | €36,682 | +€24,388 | +198.4% |
| Current portion of amounts payable after more than one year | 42 | €6,755 | €7,026 | +€271 | +4.0% |
| Trade debts | 44 | €1,912 | €8,544 | +€6,633 | +346.9% |
| Suppliers | 440/4 | €1,912 | €8,544 | +€6,633 | +346.9% |
| Taxes, remuneration and social security | 45 | €3,627 | €6,151 | +€2,524 | +69.6% |
| Taxes | 450/3 | €3,627 | €6,151 | +€2,524 | +69.6% |
| Other amounts payable | 47/48 | - | €14,960 | +€14,960 | |
| Non-recurring operating income | 76A | €796 | €210 | -€587 | -73.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,316 | €14,479 | -€837 | -5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,781 | €2,078 | +€297 | +16.7% |
| Other operating charges | 640/8 | €345 | €375 | +€30 | +8.7% |
| Non-recurring operating charges | 66A | - | €1,155 | +€1,155 | |
| Gross operating margin | 9900 | €22,956 | €28,783 | +€5,827 | +25.4% |
| Operating profit (loss) | 9901 | €5,514 | €10,696 | +€5,182 | +94.0% |
| Financial income | 75/76B | €1,050 | €992 | -€58 | -5.5% |
| Recurring financial income | 75 | €1,050 | €992 | -€58 | -5.5% |
| Financial charges | 65/66B | €1,749 | €1,480 | -€270 | -15.4% |
| Recurring financial charges | 65 | €1,749 | €1,480 | -€270 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €4,815 | €10,209 | +€5,394 | +112.0% |
| Income taxes | 67/77 | €1,430 | €3,509 | +€2,079 | +145.4% |
| Profit (loss) for the period | 9904 | €3,385 | €6,700 | +€3,315 | +97.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,385 | €6,700 | +€3,315 | +97.9% |
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 10 October 2026 via checked.be.