BEPA LESAGE: 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.
What changed
BEPA LESAGE
NACE 64.210, Activities of holding companies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€19,616
2024 · €28,078-€8,462
Equity
€3.5m
2024 · €3.4m+€19,616
Cash
€151
2024 · €11,528-€11,377
Balance sheet total
€7.0m
2024 · €7.2m-€207,837
Largest movements
Assets
- Receivables after one year +€343,115
up €343,115 (+35.4%), from €969,309 to €1.3m
- Receivables within one year -€274,285
down €274,285 (-91.4%), from €299,995 to €25,710
of which Other amounts receivable: -€173,526
- Tangible fixed assets -€235,910
down €235,910 (-5.5%), from €4.3m to €4.0m
of which Land and buildings: -€221,091
Equity and liabilities
- Reserves +€395,497
up €395,497 (+30.0%), from €1.3m to €1.7m
of which Distributable reserves: +€429,261
- Profit (loss) carried forward -€375,881
down €375,881 (-100.0%), from €375,881 to €0
- Debts after one year -€190,832
down €190,832 (-10.9%), from €1.8m to €1.6m
of which Financial debts: -€190,832
Income statement
No income-statement line moved by more than 1% of the activity.
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.
Result 2024
€28,078
Depreciation
-€688
Other operating charges
-€760
Other operating items
-€22,957
Financial income
+€71,677
Financial charges
-€58,452
Taxes
+€2,717
Result 2025
€19,616
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.
From operations
+€183,883
Investment
-€7,778
Financing
-€187,482
Cash 2024
€11,528
From operations (derived)
+€183,883
Net result for the year
+€19,616
Depreciation
+€243,938
Receivables after one year
-€343,115
Receivables within one year
+€274,285
Deferred charges and accrued income
+€29,130
Provisions
-€12,191
Trade debts
-€26,324
Tax, wage and social debts
-€6,439
Other debts
+€14,132
Accrued charges and deferred income
-€9,148
Investment (derived)
-€7,778
Investment in fixed assets (net)
-€7,778
Financing
-€187,482
Debts after one year
-€190,832
Current portion of long-term debt
+€3,350
Cash 2025
€151
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,188,773 | €6,980,937 | -€207,837 | -2.9% |
| Fixed assets | 21/28 | €5,834,177 | €5,598,017 | -€236,160 | -4.0% |
| Tangible fixed assets | 22/27 | €4,273,385 | €4,037,475 | -€235,910 | -5.5% |
| Land and buildings | 22 | €4,228,702 | €4,007,611 | -€221,091 | -5.2% |
| Other tangible fixed assets | 26 | €44,683 | €29,865 | -€14,818 | -33.2% |
| Financial fixed assets | 28 | €1,560,792 | €1,560,542 | -€250 | 0.0% |
| Affiliated companies | 280/1 | €1,560,542 | €1,560,542 | = | 0.0% |
| Participating interests | 280 | €1,560,542 | €1,560,542 | = | 0.0% |
| Other financial fixed assets | 284/8 | €250 | €0 | -€250 | -100.0% |
| Amounts receivable and cash guarantees | 285/8 | €250 | €0 | -€250 | -100.0% |
| Current assets | 29/58 | €1,354,596 | €1,382,919 | +€28,323 | +2.1% |
| Amounts receivable after more than one year | 29 | €969,309 | €1,312,424 | +€343,115 | +35.4% |
| Other amounts receivable | 291 | €969,309 | €1,312,424 | +€343,115 | +35.4% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €299,995 | €25,710 | -€274,285 | -91.4% |
| Trade receivables | 40 | €126,469 | €25,710 | -€100,759 | -79.7% |
| Other amounts receivable | 41 | €173,526 | €0 | -€173,526 | -100.0% |
| Cash at bank and in hand | 54/58 | €11,528 | €151 | -€11,377 | -98.7% |
| Deferred charges and accrued income | 490/1 | €73,765 | €44,634 | -€29,130 | -39.5% |
| Total equity and liabilities | 10/49 | €7,188,773 | €6,980,937 | -€207,837 | -2.9% |
| Equity | 10/15 | €3,446,329 | €3,465,945 | +€19,616 | +0.6% |
| Contributions | 10/11 | €1,750,000 | €1,750,000 | = | 0.0% |
| Capital | 10 | €1,750,000 | €1,750,000 | = | 0.0% |
| Issued capital | 100 | €1,750,000 | €1,750,000 | = | 0.0% |
| Reserves | 13 | €1,320,448 | €1,715,945 | +€395,497 | +30.0% |
| Non-distributable reserves | 130/1 | €43,550 | €46,360 | +€2,810 | +6.5% |
| Legal reserve | 130 | €43,550 | €46,360 | +€2,810 | +6.5% |
| Tax-exempt reserves | 132 | €1,191,898 | €1,155,324 | -€36,574 | -3.1% |
| Distributable reserves | 133 | €85,000 | €514,261 | +€429,261 | +505.0% |
| Profit (loss) carried forward | 14 | €375,881 | €0 | -€375,881 | -100.0% |
| Provisions and deferred taxes | 16 | €176,156 | €163,965 | -€12,191 | -6.9% |
| Deferred taxes | 168 | €176,156 | €163,965 | -€12,191 | -6.9% |
| Amounts payable | 17/49 | €3,566,288 | €3,351,027 | -€215,261 | -6.0% |
| Amounts payable after more than one year | 17 | €1,750,255 | €1,559,423 | -€190,832 | -10.9% |
| Financial debts | 170/4 | €1,750,255 | €1,559,423 | -€190,832 | -10.9% |
| Credit institutions | 173 | €1,750,255 | €1,559,423 | -€190,832 | -10.9% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,773,862 | €1,758,581 | -€15,281 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €187,482 | €190,832 | +€3,350 | +1.8% |
| Trade debts | 44 | €49,518 | €23,194 | -€26,324 | -53.2% |
| Suppliers | 440/4 | €49,518 | €23,194 | -€26,324 | -53.2% |
| Taxes, remuneration and social security | 45 | €41,423 | €34,984 | -€6,439 | -15.5% |
| Taxes | 450/3 | €41,423 | €34,984 | -€6,439 | -15.5% |
| Other amounts payable | 47/48 | €1,495,439 | €1,509,571 | +€14,132 | +0.9% |
| Accrued charges and deferred income | 492/3 | €42,172 | €33,023 | -€9,148 | -21.7% |
| Operating income | 70/76A | €439,149 | €382,467 | -€56,683 | -12.9% |
| Other operating income | 74 | €439,149 | €382,467 | -€56,683 | -12.9% |
| Operating charges | 60/66A | €347,016 | €314,737 | -€32,278 | -9.3% |
| Services and other goods | 61 | €57,355 | €23,629 | -€33,726 | -58.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €243,250 | €243,938 | +€688 | +0.3% |
| Other operating charges | 640/8 | €46,411 | €47,170 | +€760 | +1.6% |
| Operating profit (loss) | 9901 | €92,134 | €67,729 | -€24,404 | -26.5% |
| Financial income | 75/76B | €44,046 | €115,722 | +€71,677 | +162.7% |
| Recurring financial income | 75 | €44,046 | €40,820 | -€3,225 | -7.3% |
| Income from current assets | 751 | €44,045 | €40,820 | -€3,225 | -7.3% |
| Other financial income | 752/9 | €0 | €0 | -€0 | -100.0% |
| Non-recurring financial income | 76B | - | €74,902 | +€74,902 | |
| Financial charges | 65/66B | €96,528 | €154,980 | +€58,452 | +60.6% |
| Recurring financial charges | 65 | €96,528 | €80,078 | -€16,450 | -17.0% |
| Debt charges | 650 | €94,988 | €78,634 | -€16,354 | -17.2% |
| Other financial charges | 652/9 | €1,540 | €1,444 | -€96 | -6.2% |
| Non-recurring financial charges | 66B | - | €74,902 | +€74,902 | |
| Profit (loss) for the period before taxes | 9903 | €39,651 | €28,472 | -€11,180 | -28.2% |
| Transfer from deferred taxes | 780 | €12,191 | €12,191 | = | 0.0% |
| Income taxes | 67/77 | €23,764 | €21,047 | -€2,717 | -11.4% |
| Taxes | 670/3 | €23,764 | €21,047 | -€2,717 | -11.4% |
| Profit (loss) for the period | 9904 | €28,078 | €19,616 | -€8,462 | -30.1% |
| Transfer from tax-exempt reserves | 789 | €36,574 | €36,574 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,652 | €56,190 | -€8,462 | -13.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.