BEPA VDB: 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 VDB
Largest movements
- Tangible fixed assets -€812,507
down €812,507 (-23.3%), from €3.5m to €2.7m
of which Land and buildings: -€825,280
- Stocks and contracts -€337,634
down €337,634 (-83.0%), from €406,614 to €68,980
- Cash +€125,885
up €125,885 (+134%), from €93,700 to €219,585
mainly Investment in fixed assets (net) (+€741,709) and Stocks and contracts (+€337,634)
- Receivables after one year -€100,000
down €100,000 (-50.0%), from €200,000 to €100,000
- Receivables within one year +€56,957
up €56,957 (+310%), from €18,377 to €75,334
of which Trade receivables: +€57,274
- Short-term financial debts -€982,415
down €982,415 (-90.8%), from €1.1m to €100,000
of which Credit institutions: -€979,877
- Tax, wage and social debts -€62,874
down €62,874 (-82.7%), from €76,055 to €13,180
- Gross operating margin +€193,644
up €193,644, from -€11,018 to €182,626
- Other operating charges +€25,184
up €25,184 (+157%), from €16,059 to €41,243
- Financial charges +€7,361
up €7,361 (+11.4%), from €64,676 to €72,037
- Financial income +€6,637
up €6,637 (+184%), from €3,600 to €10,238
- Depreciation +€5,398
up €5,398 (+8.0%), from €67,170 to €72,567
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 | €4,228,695 | €3,159,075 | -€1.1m | -25.3% |
| Formation expenses | 20 | €5,344 | €3,405 | -€1,939 | -36.3% |
| Fixed assets | 21/28 | €3,498,406 | €2,686,069 | -€812,337 | -23.2% |
| Intangible fixed assets | 21 | €684 | €354 | -€330 | -48.2% |
| Tangible fixed assets | 22/27 | €3,481,761 | €2,669,253 | -€812,507 | -23.3% |
| Land and buildings | 22 | €3,409,315 | €2,584,034 | -€825,280 | -24.2% |
| Plant, machinery and equipment | 23 | €59,608 | €72,877 | +€13,269 | +22.3% |
| Furniture and vehicles | 24 | €12,838 | €12,342 | -€496 | -3.9% |
| Financial fixed assets | 28 | €15,961 | €16,461 | +€500 | +3.1% |
| Current assets | 29/58 | €724,945 | €469,602 | -€255,343 | -35.2% |
| Amounts receivable after more than one year | 29 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Other amounts receivable | 291 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Stocks and contracts in progress | 3 | €406,614 | €68,980 | -€337,634 | -83.0% |
| Stocks | 30/36 | €406,614 | €68,980 | -€337,634 | -83.0% |
| Amounts receivable within one year | 40/41 | €18,377 | €75,334 | +€56,957 | +310% |
| Trade receivables | 40 | €1,160 | €58,434 | +€57,274 | +4,937% |
| Other amounts receivable | 41 | €17,217 | €16,900 | -€317 | -1.8% |
| Cash at bank and in hand | 54/58 | €93,700 | €219,585 | +€125,885 | +134% |
| Deferred charges and accrued income | 490/1 | €6,254 | €5,702 | -€551 | -8.8% |
| Total equity and liabilities | 10/49 | €4,228,695 | €3,159,075 | -€1.1m | -25.3% |
| Equity | 10/15 | €1,065,369 | €1,071,746 | +€6,378 | +0.6% |
| Contributions | 10/11 | €278,980 | €278,980 | = | 0.0% |
| Reserves | 13 | €307,904 | €314,282 | +€6,378 | +2.1% |
| Non-distributable reserves | 130/1 | €11,871 | €11,871 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,871 | €2,871 | = | 0.0% |
| Other | 1319 | €9,000 | €9,000 | = | 0.0% |
| Distributable reserves | 133 | €296,033 | €302,411 | +€6,378 | +2.2% |
| Profit (loss) carried forward | 14 | €478,484 | €478,484 | = | 0.0% |
| Amounts payable | 17/49 | €3,163,326 | €2,087,329 | -€1.1m | -34.0% |
| Amounts payable after more than one year | 17 | €1,730,478 | €1,741,182 | +€10,704 | +0.6% |
| Financial debts | 170/4 | €1,730,478 | €1,741,182 | +€10,704 | +0.6% |
| Amounts payable within one year | 42/48 | €1,423,874 | €332,147 | -€1.1m | -76.7% |
| Current portion of amounts payable after more than one year | 42 | €97,154 | €99,296 | +€2,142 | +2.2% |
| Financial debts | 43 | €1,082,415 | €100,000 | -€982,415 | -90.8% |
| Credit institutions | 430/8 | €1,079,877 | €100,000 | -€979,877 | -90.7% |
| Other loans | 439 | €2,538 | €0 | -€2,538 | -100% |
| Trade debts | 44 | €16,517 | €3,851 | -€12,666 | -76.7% |
| Suppliers | 440/4 | €16,517 | €3,851 | -€12,666 | -76.7% |
| Taxes, remuneration and social security | 45 | €76,055 | €13,180 | -€62,874 | -82.7% |
| Taxes | 450/3 | €76,055 | €13,180 | -€62,874 | -82.7% |
| Other amounts payable | 47/48 | €151,734 | €115,820 | -€35,913 | -23.7% |
| Accrued charges and deferred income | 492/3 | €8,974 | €14,000 | +€5,026 | +56.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,170 | €72,567 | +€5,398 | +8.0% |
| Other operating charges | 640/8 | €16,059 | €41,243 | +€25,184 | +157% |
| Gross operating margin | 9900 | -€11,018 | €182,626 | +€193,644 | |
| Operating profit (loss) | 9901 | -€94,247 | €68,815 | +€163,062 | |
| Financial income | 75/76B | €3,600 | €10,238 | +€6,637 | +184% |
| Recurring financial income | 75 | €3,600 | €10,238 | +€6,637 | +184% |
| Financial charges | 65/66B | €64,676 | €72,037 | +€7,361 | +11.4% |
| Recurring financial charges | 65 | €64,676 | €72,037 | +€7,361 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | -€155,323 | €7,016 | +€162,338 | |
| Income taxes | 67/77 | €0 | €638 | +€638 | |
| Profit (loss) for the period | 9904 | -€155,323 | €6,378 | +€161,700 | |
| Profit (loss) for the period to be appropriated | 9905 | -€155,323 | €6,378 | +€161,700 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.