BENRAD: 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.
BENRAD
Largest movements
- Cash +€82,547
up €82,547 (+33.0%), from €250,009 to €332,557
mainly Other debts (+€345,963) and Net result for the year (+€164,152)
- Receivables within one year +€23,289
new in 2025: €23,289
- Other debts +€345,963
new in 2025: €345,963
- Profit (loss) carried forward -€202,768
down €202,768 (-100.0%), from €202,768 to €0
- Tax, wage and social debts -€30,753
down €30,753 (-85.7%), from €35,885 to €5,132
of which Taxes: -€32,553
- Reserves -€8,163
down €8,163 (-100.0%), from €8,163 to €0
- Gross operating margin +€49,948
up €49,948 (+30.6%), from €163,383 to €213,331
- Taxes +€12,449
up €12,449 (+34.7%), from €35,882 to €48,331
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 | €250,394 | €355,949 | +€105,554 | +42.2% |
| Fixed assets | 21/28 | €385 | €0 | -€385 | -100.0% |
| Tangible fixed assets | 22/27 | €385 | €0 | -€385 | -100.0% |
| Furniture and vehicles | 24 | €385 | €0 | -€385 | -100.0% |
| Current assets | 29/58 | €250,009 | €355,949 | +€105,939 | +42.4% |
| Amounts receivable within one year | 40/41 | - | €23,289 | +€23,289 | |
| Trade receivables | 40 | - | €23,289 | +€23,289 | |
| Cash at bank and in hand | 54/58 | €250,009 | €332,557 | +€82,547 | +33.0% |
| Deferred charges and accrued income | 490/1 | - | €103 | +€103 | |
| Total equity and liabilities | 10/49 | €250,394 | €355,949 | +€105,554 | +42.2% |
| Equity | 10/15 | €213,931 | €3,000 | -€210,931 | -98.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €8,163 | €0 | -€8,163 | -100.0% |
| Distributable reserves | 133 | €8,163 | €0 | -€8,163 | -100.0% |
| Profit (loss) carried forward | 14 | €202,768 | €0 | -€202,768 | -100.0% |
| Amounts payable | 17/49 | €36,463 | €352,949 | +€316,486 | +868.0% |
| Amounts payable within one year | 42/48 | €36,463 | €352,949 | +€316,486 | +868.0% |
| Trade debts | 44 | €578 | €1,853 | +€1,275 | +220.6% |
| Suppliers | 440/4 | €578 | €1,853 | +€1,275 | +220.6% |
| Taxes, remuneration and social security | 45 | €35,885 | €5,132 | -€30,753 | -85.7% |
| Taxes | 450/3 | €35,885 | €3,332 | -€32,553 | -90.7% |
| Remuneration and social security | 454/9 | - | €1,800 | +€1,800 | |
| Other amounts payable | 47/48 | - | €345,963 | +€345,963 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €443 | €385 | -€58 | -13.1% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €163,383 | €213,331 | +€49,948 | +30.6% |
| Operating profit (loss) | 9901 | €162,940 | €212,546 | +€49,606 | +30.4% |
| Financial charges | 65/66B | €74 | €63 | -€11 | -15.2% |
| Recurring financial charges | 65 | €74 | €63 | -€11 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €162,866 | €212,484 | +€49,617 | +30.5% |
| Income taxes | 67/77 | €35,882 | €48,331 | +€12,449 | +34.7% |
| Profit (loss) for the period | 9904 | €126,985 | €164,152 | +€37,168 | +29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €126,985 | €164,152 | +€37,168 | +29.3% |
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 11 October 2026 via checked.be.