BEPA MOERMAN: what changed
What changed
BEPA MOERMAN
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€28,813
2024 · €140,345-€111,532
Equity
€895,923
2024 · €867,109+€28,813
Cash
€272,886
2024 · €161,916+€110,969
Balance sheet total
€1.1m
2024 · €1.1m-€9,766
Largest movements
Assets
- Cash +€110,969
up €110,969 (+68.5%), from €161,916 to €272,886
mainly Current investments (+€100,000) and Net result for the year (+€28,813)
- Current investments -€100,000
down €100,000 (-44.4%), from €225,000 to €125,000
- Tangible fixed assets -€18,882
down €18,882 (-2.8%), from €677,550 to €658,668
of which Land and buildings: -€20,377
Equity and liabilities
- Reserves +€28,813
up €28,813 (+10.3%), from €279,904 to €308,717
of which Distributable reserves: +€28,813
- Other debts -€23,148
down €23,148 (-12.1%), from €191,316 to €168,168
Income statement
- Gross operating margin -€183,893
down €183,893 (-69.2%), from €265,607 to €81,715
- Taxes -€64,936
down €64,936 (-82.3%), from €78,925 to €13,989
- Financial income +€6,338
up €6,338 (+545%), from €1,163 to €7,501
- Depreciation -€3,075
down €3,075 (-10.9%), from €28,188 to €25,114
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€140,345
Gross operating margin
-€183,893
Depreciation
+€3,075
Other operating charges
-€1,435
Financial income
+€6,338
Financial charges
-€553
Taxes
+€64,936
Result 2025
€28,813
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€23,201
Investment
+€93,768
Financing
-€6,000
Cash 2024
€161,916
From operations (derived)
+€23,201
Net result for the year
+€28,813
Depreciation
+€25,114
Receivables within one year
+€2,712
Deferred charges and accrued income
-€858
Trade debts
-€10,931
Tax, wage and social debts
+€936
Other debts
-€23,148
Accrued charges and deferred income
+€563
Investment (derived)
+€93,768
Investment in fixed assets (net)
-€6,232
Current investments
+€100,000
Financing
-€6,000
Debts after one year
-€6,000
Cash 2025
€272,886
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,128,160 | €1,118,394 | -€9,766 | -0.9% |
| Fixed assets | 21/28 | €708,041 | €689,159 | -€18,882 | -2.7% |
| Tangible fixed assets | 22/27 | €677,550 | €658,668 | -€18,882 | -2.8% |
| Land and buildings | 22 | €513,277 | €492,900 | -€20,377 | -4.0% |
| Plant, machinery and equipment | 23 | €68 | €0 | -€68 | -100% |
| Other tangible fixed assets | 26 | €164,205 | €165,768 | +€1,564 | +1.0% |
| Financial fixed assets | 28 | €30,491 | €30,491 | = | 0.0% |
| Current assets | 29/58 | €420,119 | €429,234 | +€9,116 | +2.2% |
| Amounts receivable within one year | 40/41 | €32,405 | €29,693 | -€2,712 | -8.4% |
| Other amounts receivable | 41 | €32,405 | €29,693 | -€2,712 | -8.4% |
| Current investments | 50/53 | €225,000 | €125,000 | -€100,000 | -44.4% |
| Cash at bank and in hand | 54/58 | €161,916 | €272,886 | +€110,969 | +68.5% |
| Deferred charges and accrued income | 490/1 | €798 | €1,656 | +€858 | +108% |
| Total equity and liabilities | 10/49 | €1,128,160 | €1,118,394 | -€9,766 | -0.9% |
| Equity | 10/15 | €867,109 | €895,923 | +€28,813 | +3.3% |
| Contributions | 10/11 | €291,000 | €291,000 | = | 0.0% |
| Reserves | 13 | €279,904 | €308,717 | +€28,813 | +10.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €279,904 | €308,717 | +€28,813 | +10.3% |
| Profit (loss) carried forward | 14 | €296,206 | €296,206 | = | 0.0% |
| Amounts payable | 17/49 | €261,051 | €222,471 | -€38,580 | -14.8% |
| Amounts payable after more than one year | 17 | €30,000 | €24,000 | -€6,000 | -20.0% |
| Financial debts | 170/4 | €30,000 | €24,000 | -€6,000 | -20.0% |
| Amounts payable within one year | 42/48 | €218,108 | €184,966 | -€33,143 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €6,000 | €6,000 | = | 0.0% |
| Trade debts | 44 | €14,702 | €3,771 | -€10,931 | -74.3% |
| Suppliers | 440/4 | €14,702 | €3,771 | -€10,931 | -74.3% |
| Taxes, remuneration and social security | 45 | €6,090 | €7,026 | +€936 | +15.4% |
| Taxes | 450/3 | €6,090 | €7,026 | +€936 | +15.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €191,316 | €168,168 | -€23,148 | -12.1% |
| Accrued charges and deferred income | 492/3 | €12,942 | €13,505 | +€563 | +4.3% |
| Non-recurring operating income | 76A | €205,564 | €0 | -€205,564 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,188 | €25,114 | -€3,075 | -10.9% |
| Other operating charges | 640/8 | €5,895 | €7,330 | +€1,435 | +24.3% |
| Gross operating margin | 9900 | €265,607 | €81,715 | -€183,893 | -69.2% |
| Operating profit (loss) | 9901 | €231,524 | €49,272 | -€182,252 | -78.7% |
| Financial income | 75/76B | €1,163 | €7,501 | +€6,338 | +545% |
| Recurring financial income | 75 | €1,163 | €7,501 | +€6,338 | +545% |
| Financial charges | 65/66B | €13,416 | €13,970 | +€553 | +4.1% |
| Recurring financial charges | 65 | €13,416 | €13,970 | +€553 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €219,270 | €42,802 | -€176,468 | -80.5% |
| Income taxes | 67/77 | €78,925 | €13,989 | -€64,936 | -82.3% |
| Profit (loss) for the period | 9904 | €140,345 | €28,813 | -€111,532 | -79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €140,345 | €28,813 | -€111,532 | -79.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.