BEPASA: 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.
BEPASA
Largest movements
- Cash -€19,131
down €19,131 (-69.0%), from €27,716 to €8,585
mainly Tax, wage and social debts (-€15,432) and Receivables within one year (-€8,896)
- Tangible fixed assets -€10,976
down €10,976 (-56.8%), from €19,326 to €8,350
of which Furniture and vehicles: -€10,677
- Receivables within one year +€8,896
up €8,896 (+61.8%), from €14,393 to €23,288
of which Trade receivables: +€9,211
- Tax, wage and social debts -€15,432
down €15,432 (-100.0%), from €15,432 to €0
- Profit (loss) carried forward -€5,745
down €5,745 (-13.1%), from €44,011 to €38,266
- Gross operating margin -€8,659
down €8,659 (-45.0%), from €19,252 to €10,593
- Taxes -€2,763
down €2,763 (-70.3%), from €3,930 to €1,167
- Staff costs -€1,750
down €1,750 (-43.7%), from €4,008 to €2,258
- Depreciation +€1,110
up €1,110 (+11.2%), from €9,866 to €10,976
- Other operating charges +€981
up €981 (+192.2%), from €510 to €1,491
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 | €61,476 | €40,266 | -€21,211 | -34.5% |
| Fixed assets | 21/28 | €19,368 | €8,392 | -€10,976 | -56.7% |
| Tangible fixed assets | 22/27 | €19,326 | €8,350 | -€10,976 | -56.8% |
| Plant, machinery and equipment | 23 | €504 | €206 | -€298 | -59.2% |
| Furniture and vehicles | 24 | €18,822 | €8,144 | -€10,677 | -56.7% |
| Financial fixed assets | 28 | €42 | €42 | = | 0.0% |
| Current assets | 29/58 | €42,109 | €31,874 | -€10,235 | -24.3% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €14,393 | €23,288 | +€8,896 | +61.8% |
| Trade receivables | 40 | €1,204 | €10,415 | +€9,211 | +764.8% |
| Other amounts receivable | 41 | €13,188 | €12,874 | -€315 | -2.4% |
| Cash at bank and in hand | 54/58 | €27,716 | €8,585 | -€19,131 | -69.0% |
| Total equity and liabilities | 10/49 | €61,476 | €40,266 | -€21,211 | -34.5% |
| Equity | 10/15 | €46,011 | €40,266 | -€5,745 | -12.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,011 | €38,266 | -€5,745 | -13.1% |
| Amounts payable | 17/49 | €15,465 | €0 | -€15,465 | -100.0% |
| Amounts payable within one year | 42/48 | €15,465 | €0 | -€15,465 | -100.0% |
| Trade debts | 44 | €34 | €0 | -€34 | -100.0% |
| Suppliers | 440/4 | €34 | €0 | -€34 | -100.0% |
| Taxes, remuneration and social security | 45 | €15,432 | €0 | -€15,432 | -100.0% |
| Taxes | 450/3 | €15,432 | €0 | -€15,432 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €4,008 | €2,258 | -€1,750 | -43.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,866 | €10,976 | +€1,110 | +11.2% |
| Other operating charges | 640/8 | €510 | €1,491 | +€981 | +192.2% |
| Gross operating margin | 9900 | €19,252 | €10,593 | -€8,659 | -45.0% |
| Operating profit (loss) | 9901 | €4,868 | -€4,132 | -€9,000 | |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €273 | €450 | +€177 | +64.6% |
| Recurring financial charges | 65 | €273 | €450 | +€177 | +64.6% |
| Profit (loss) for the period before taxes | 9903 | €4,594 | -€4,578 | -€9,173 | |
| Income taxes | 67/77 | €3,930 | €1,167 | -€2,763 | -70.3% |
| Profit (loss) for the period | 9904 | €664 | -€5,745 | -€6,410 | |
| Profit (loss) for the period to be appropriated | 9905 | €664 | -€5,745 | -€6,410 |
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 2 October 2026 via checked.be.