BENZ Projects: 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.
BENZ Projects
Largest movements
- Stocks and contracts +€144,361
up €144,361 (+24.8%), from €582,886 to €727,247
- Cash -€12,622
down €12,622 (-77.5%), from €16,285 to €3,663
mainly Current portion of long-term debt (-€193,813) and Stocks and contracts (-€144,361)
- Receivables within one year +€9,572
new in 2025: €9,572
- Debts after one year +€331,200
up €331,200 (+628.5%), from €52,693 to €383,893
of which Financial debts: +€315,000
- Current portion of long-term debt -€193,813
down €193,813 (-39.2%), from €493,813 to €300,000
- Gross operating margin -€21,292
down €21,292 (-61.2%), from €34,789 to €13,497
- Financial charges +€8,604
up €8,604 (+369.0%), from €2,331 to €10,935
- Taxes -€5,997
down €5,997 (-93.3%), from €6,425 to €428
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 | €600,747 | €741,815 | +€141,068 | +23.5% |
| Formation expenses | 20 | €1,576 | €1,332 | -€244 | -15.5% |
| Current assets | 29/58 | €599,171 | €740,483 | +€141,312 | +23.6% |
| Stocks and contracts in progress | 3 | €582,886 | €727,247 | +€144,361 | +24.8% |
| Stocks | 30/36 | €582,886 | €727,247 | +€144,361 | +24.8% |
| Amounts receivable within one year | 40/41 | - | €9,572 | +€9,572 | |
| Other amounts receivable | 41 | - | €9,572 | +€9,572 | |
| Cash at bank and in hand | 54/58 | €16,285 | €3,663 | -€12,622 | -77.5% |
| Total equity and liabilities | 10/49 | €600,747 | €741,815 | +€141,068 | +23.5% |
| Equity | 10/15 | €49,874 | €51,303 | +€1,429 | +2.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €44,874 | €46,303 | +€1,429 | +3.2% |
| Distributable reserves | 133 | €44,874 | €46,303 | +€1,429 | +3.2% |
| Amounts payable | 17/49 | €550,873 | €690,512 | +€139,639 | +25.3% |
| Amounts payable after more than one year | 17 | €52,693 | €383,893 | +€331,200 | +628.5% |
| Financial debts | 170/4 | €0 | €315,000 | +€315,000 | |
| Other amounts payable | 178/9 | €52,693 | €68,893 | +€16,200 | +30.7% |
| Amounts payable within one year | 42/48 | €498,180 | €306,619 | -€191,561 | -38.5% |
| Current portion of amounts payable after more than one year | 42 | €493,813 | €300,000 | -€193,813 | -39.2% |
| Financial debts | 43 | €2,943 | €2,937 | -€6 | -0.2% |
| Credit institutions | 430/8 | €2,943 | €2,937 | -€6 | -0.2% |
| Trade debts | 44 | €0 | €732 | +€732 | |
| Suppliers | 440/4 | €0 | €732 | +€732 | |
| Taxes, remuneration and social security | 45 | €1,425 | €0 | -€1,425 | -100.0% |
| Taxes | 450/3 | €1,425 | €0 | -€1,425 | -100.0% |
| Other amounts payable | 47/48 | - | €2,951 | +€2,951 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €244 | €244 | = | 0.0% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €34,789 | €13,497 | -€21,292 | -61.2% |
| Operating profit (loss) | 9901 | €34,096 | €12,792 | -€21,304 | -62.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,331 | €10,935 | +€8,604 | +369.0% |
| Recurring financial charges | 65 | €2,331 | €10,935 | +€8,604 | +369.0% |
| Profit (loss) for the period before taxes | 9903 | €31,764 | €1,856 | -€29,908 | -94.2% |
| Income taxes | 67/77 | €6,425 | €428 | -€5,997 | -93.3% |
| Profit (loss) for the period | 9904 | €25,340 | €1,429 | -€23,911 | -94.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,340 | €1,429 | -€23,911 | -94.4% |
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 4 October 2026 via checked.be.