BEPA Consult: 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.
BEPA Consult
Largest movements
- Current investments -€57,000
down €57,000 (-61.5%), from €92,734 to €35,734
- Cash +€53,570
up €53,570 (+67.1%), from €79,810 to €133,380
mainly Current investments (+€57,000) and Other debts (+€54,117)
- Intangible fixed assets -€18,400
down €18,400 (-33.3%), from €55,200 to €36,800
- Tangible fixed assets -€8,812
down €8,812 (-3.9%), from €228,687 to €219,875
of which Land and buildings: -€10,494
- Receivables within one year +€8,683
up €8,683 (+31.1%), from €27,904 to €36,587
of which Other amounts receivable: +€7,019
- Debts after one year -€73,964
down €73,964 (-31.1%), from €237,646 to €163,683
- Other debts +€54,117
up €54,117 (+79.3%), from €68,243 to €122,360
- Reserves -€28,112
down €28,112 (-24.2%), from €116,248 to €88,137
- Current portion of long-term debt +€24,522
up €24,522 (+81.7%), from €30,017 to €54,540
- Gross operating margin -€11,197
down €11,197 (-8.4%), from €133,689 to €122,492
- Staff costs -€4,074
down €4,074 (-9.9%), from €41,142 to €37,069
- Financial charges +€1,415
up €1,415 (+13.0%), from €10,858 to €12,273
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 | €487,706 | €465,453 | -€22,253 | -4.6% |
| Formation expenses | 20 | €2,073 | €1,382 | -€691 | -33.3% |
| Fixed assets | 21/28 | €283,937 | €256,725 | -€27,212 | -9.6% |
| Intangible fixed assets | 21 | €55,200 | €36,800 | -€18,400 | -33.3% |
| Tangible fixed assets | 22/27 | €228,687 | €219,875 | -€8,812 | -3.9% |
| Land and buildings | 22 | €221,426 | €210,932 | -€10,494 | -4.7% |
| Plant, machinery and equipment | 23 | €2,510 | €1,487 | -€1,023 | -40.8% |
| Furniture and vehicles | 24 | €4,751 | €7,457 | +€2,706 | +57.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €201,695 | €207,345 | +€5,650 | +2.8% |
| Amounts receivable within one year | 40/41 | €27,904 | €36,587 | +€8,683 | +31.1% |
| Trade receivables | 40 | €22,185 | €23,849 | +€1,664 | +7.5% |
| Other amounts receivable | 41 | €5,719 | €12,738 | +€7,019 | +123% |
| Current investments | 50/53 | €92,734 | €35,734 | -€57,000 | -61.5% |
| Cash at bank and in hand | 54/58 | €79,810 | €133,380 | +€53,570 | +67.1% |
| Deferred charges and accrued income | 490/1 | €1,248 | €1,645 | +€397 | +31.8% |
| Total equity and liabilities | 10/49 | €487,706 | €465,453 | -€22,253 | -4.6% |
| Equity | 10/15 | €134,848 | €106,737 | -€28,112 | -20.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €116,248 | €88,137 | -€28,112 | -24.2% |
| Distributable reserves | 133 | €116,248 | €88,137 | -€28,112 | -24.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €352,857 | €358,716 | +€5,859 | +1.7% |
| Amounts payable after more than one year | 17 | €237,646 | €163,683 | -€73,964 | -31.1% |
| Financial debts | 170/4 | €237,646 | €163,683 | -€73,964 | -31.1% |
| Amounts payable within one year | 42/48 | €110,367 | €188,341 | +€77,974 | +70.6% |
| Current portion of amounts payable after more than one year | 42 | €30,017 | €54,540 | +€24,522 | +81.7% |
| Financial debts | 43 | €5,057 | €5,052 | -€6 | -0.1% |
| Credit institutions | 430/8 | €5,057 | €5,052 | -€6 | -0.1% |
| Trade debts | 44 | €1,764 | €1,024 | -€740 | -42.0% |
| Suppliers | 440/4 | €1,764 | €1,024 | -€740 | -42.0% |
| Taxes, remuneration and social security | 45 | €5,286 | €5,366 | +€80 | +1.5% |
| Taxes | 450/3 | €0 | €2,678 | +€2,678 | |
| Remuneration and social security | 454/9 | €5,286 | €2,687 | -€2,598 | -49.2% |
| Other amounts payable | 47/48 | €68,243 | €122,360 | +€54,117 | +79.3% |
| Accrued charges and deferred income | 492/3 | €4,844 | €6,693 | +€1,849 | +38.2% |
| Remuneration, social security and pensions | 62 | €41,142 | €37,069 | -€4,074 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,782 | €32,976 | +€1,193 | +3.8% |
| Other operating charges | 640/8 | €2,848 | €3,001 | +€152 | +5.3% |
| Gross operating margin | 9900 | €133,689 | €122,492 | -€11,197 | -8.4% |
| Operating profit (loss) | 9901 | €57,916 | €49,447 | -€8,469 | -14.6% |
| Financial income | 75/76B | €2,826 | €3,823 | +€997 | +35.3% |
| Recurring financial income | 75 | €2,826 | €3,823 | +€997 | +35.3% |
| Financial charges | 65/66B | €10,858 | €12,273 | +€1,415 | +13.0% |
| Recurring financial charges | 65 | €10,858 | €12,273 | +€1,415 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | €49,884 | €40,997 | -€8,886 | -17.8% |
| Income taxes | 67/77 | €10,110 | €9,109 | -€1,001 | -9.9% |
| Profit (loss) for the period | 9904 | €39,774 | €31,888 | -€7,886 | -19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €39,774 | €31,888 | -€7,886 | -19.8% |
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.