BENWAR: 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.
BENWAR
Largest movements
- Receivables within one year -€20,299
down €20,299 (-68.9%), from €29,463 to €9,164
of which Trade receivables: -€19,774
- Cash -€5,553
down €5,553 (-26.8%), from €20,713 to €15,160
mainly Other debts (-€33,345) and Trade debts (-€2,436)
- Tangible fixed assets -€3,265
down €3,265 (-65.1%), from €5,018 to €1,753
of which Furniture and vehicles: -€2,659
- Deferred charges and accrued income +€583
up €583 (+35.1%), from €1,663 to €2,246
- Other debts -€33,345
down €33,345 (-31.2%), from €106,982 to €73,637
- Profit (loss) carried forward +€6,573
up €6,573 (+2.3%), from -€282,053 to -€275,480
- Trade debts -€2,436
down €2,436 (-49.5%), from €4,917 to €2,481
- Tax, wage and social debts +€674
up €674 (+10.0%), from €6,711 to €7,385
of which Taxes: +€1,075
- Financial charges -€449,957
down €449,957 (-99.9%), from €450,343 to €386
of which Non-recurring financial charges: -€450,000
- Other operating charges +€59,470
up €59,470 (+4,482%), from €1,327 to €60,796
- Staff costs -€29,950
down €29,950 (-26.0%), from €115,390 to €85,440
- Gross operating margin +€21,866
up €21,866 (+16.3%), from €134,234 to €156,100
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
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 | €57,017 | €28,482 | -€28,534 | -50.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €5,178 | €1,913 | -€3,265 | -63.1% |
| Tangible fixed assets | 22/27 | €5,018 | €1,753 | -€3,265 | -65.1% |
| Plant, machinery and equipment | 23 | €607 | €0 | -€607 | -100% |
| Furniture and vehicles | 24 | €4,411 | €1,753 | -€2,659 | -60.3% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €51,839 | €26,570 | -€25,269 | -48.7% |
| Amounts receivable within one year | 40/41 | €29,463 | €9,164 | -€20,299 | -68.9% |
| Trade receivables | 40 | €20,881 | €1,107 | -€19,774 | -94.7% |
| Other amounts receivable | 41 | €8,583 | €8,057 | -€526 | -6.1% |
| Cash at bank and in hand | 54/58 | €20,713 | €15,160 | -€5,553 | -26.8% |
| Deferred charges and accrued income | 490/1 | €1,663 | €2,246 | +€583 | +35.1% |
| Total equity and liabilities | 10/49 | €57,017 | €28,482 | -€28,534 | -50.0% |
| Equity | 10/15 | -€261,593 | -€255,020 | +€6,573 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€282,053 | -€275,480 | +€6,573 | +2.3% |
| Amounts payable | 17/49 | €318,610 | €283,503 | -€35,107 | -11.0% |
| Amounts payable after more than one year | 17 | €200,000 | €200,000 | = | 0.0% |
| Other amounts payable | 178/9 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €118,610 | €83,503 | -€35,107 | -29.6% |
| Trade debts | 44 | €4,917 | €2,481 | -€2,436 | -49.5% |
| Suppliers | 440/4 | €4,917 | €2,481 | -€2,436 | -49.5% |
| Taxes, remuneration and social security | 45 | €6,711 | €7,385 | +€674 | +10.0% |
| Taxes | 450/3 | €609 | €1,684 | +€1,075 | +177% |
| Remuneration and social security | 454/9 | €6,102 | €5,701 | -€401 | -6.6% |
| Other amounts payable | 47/48 | €106,982 | €73,637 | -€33,345 | -31.2% |
| Non-recurring operating income | 76A | - | €59,485 | +€59,485 | |
| Remuneration, social security and pensions | 62 | €115,390 | €85,440 | -€29,950 | -26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,908 | €2,831 | -€1,077 | -27.6% |
| Other operating charges | 640/8 | €1,327 | €60,796 | +€59,470 | +4,482% |
| Gross operating margin | 9900 | €134,234 | €156,100 | +€21,866 | +16.3% |
| Operating profit (loss) | 9901 | €13,609 | €7,032 | -€6,577 | -48.3% |
| Financial income | 75/76B | €359 | €218 | -€141 | -39.4% |
| Recurring financial income | 75 | €359 | €218 | -€141 | -39.4% |
| Financial charges | 65/66B | €450,343 | €386 | -€449,957 | -99.9% |
| Recurring financial charges | 65 | €343 | €386 | +€43 | +12.5% |
| Non-recurring financial charges | 66B | €450,000 | - | -€450,000 | |
| Profit (loss) for the period before taxes | 9903 | -€436,375 | €6,864 | +€443,239 | |
| Income taxes | 67/77 | €280 | €291 | +€11 | +3.9% |
| Profit (loss) for the period | 9904 | -€436,655 | €6,573 | +€443,228 | |
| Profit (loss) for the period to be appropriated | 9905 | -€436,655 | €6,573 | +€443,228 |
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 13 October 2026 via checked.be.