BEPINVEST: what changed
What changed
BEPINVEST
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
-€4,066
2024 · -€407-€3,659
Equity
€76,832
2024 · €80,897-€4,066
Cash
€21,827
2024 · €22,235-€408
Balance sheet total
€684,664
2024 · €497,226+€187,438
Largest movements
Assets
- Current investments +€200,203
up €200,203 (+580%), from €34,534 to €234,737
- Tangible fixed assets -€13,261
down €13,261 (-3.0%), from €438,370 to €425,109
Equity and liabilities
- Debts after one year +€193,221
up €193,221 (+150%), from €129,054 to €322,275
of which Other amounts payable: +€200,000
Income statement
- Gross operating margin -€3,280
down €3,280 (-16.1%), from €20,341 to €17,061
- Other operating charges +€821
up €821 (+34.6%), from €2,374 to €3,195
- Depreciation -€402
down €402 (-2.0%), from €19,956 to €19,554
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
-€407
Gross operating margin
-€3,280
Depreciation
+€402
Other operating charges
-€821
Financial income
+€109
Financial charges
+€142
Deferred taxes and other
-€211
Result 2025
-€4,066
raises the resultlowers the resultnot broken down further in the accounts
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
+€12,728
Investment
-€206,496
Financing
+€193,360
Cash 2024
€22,235
From operations (derived)
+€12,728
Net result for the year
-€4,066
Depreciation
+€19,554
Smaller working-capital items
+€248
Deferred charges and accrued income
-€1,195
Provisions
-€2,652
Trade debts
+€838
Investment (derived)
-€206,496
Investment in fixed assets (net)
-€6,293
Current investments
-€200,203
Financing
+€193,360
Debts after one year
+€193,221
Current portion of long-term debt
+€140
Cash 2025
€21,827
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €497,226 | €684,664 | +€187,438 | +37.7% |
| Fixed assets | 21/28 | €438,370 | €425,109 | -€13,261 | -3.0% |
| Tangible fixed assets | 22/27 | €438,370 | €425,109 | -€13,261 | -3.0% |
| Other tangible fixed assets | 26 | €438,370 | €425,109 | -€13,261 | -3.0% |
| Current assets | 29/58 | €58,856 | €259,555 | +€200,699 | +341% |
| Amounts receivable within one year | 40/41 | €1,349 | €1,058 | -€291 | -21.5% |
| Trade receivables | 40 | €1,294 | €971 | -€323 | -25.0% |
| Other amounts receivable | 41 | €54 | €87 | +€33 | +60.5% |
| Current investments | 50/53 | €34,534 | €234,737 | +€200,203 | +580% |
| Cash at bank and in hand | 54/58 | €22,235 | €21,827 | -€408 | -1.8% |
| Deferred charges and accrued income | 490/1 | €738 | €1,933 | +€1,195 | +162% |
| Total equity and liabilities | 10/49 | €497,226 | €684,664 | +€187,438 | +37.7% |
| Equity | 10/15 | €80,897 | €76,832 | -€4,066 | -5.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €115,336 | €110,185 | -€5,151 | -4.5% |
| Tax-exempt reserves | 132 | €113,477 | €108,326 | -€5,151 | -4.5% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,031 | -€51,946 | +€1,085 | +2.0% |
| Provisions and deferred taxes | 16 | €59,296 | €56,643 | -€2,652 | -4.5% |
| Deferred taxes | 168 | €59,296 | €56,643 | -€2,652 | -4.5% |
| Amounts payable | 17/49 | €357,033 | €551,189 | +€194,156 | +54.4% |
| Amounts payable after more than one year | 17 | €129,054 | €322,275 | +€193,221 | +150% |
| Financial debts | 170/4 | €50,554 | €43,775 | -€6,779 | -13.4% |
| Other amounts payable | 178/9 | €78,500 | €278,500 | +€200,000 | +255% |
| Amounts payable within one year | 42/48 | €227,979 | €228,914 | +€935 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €6,640 | €6,779 | +€140 | +2.1% |
| Trade debts | 44 | €25 | €863 | +€838 | +3,418% |
| Suppliers | 440/4 | €25 | €863 | +€838 | +3,418% |
| Taxes, remuneration and social security | 45 | €162 | €120 | -€42 | -25.9% |
| Taxes | 450/3 | €162 | €120 | -€42 | -25.9% |
| Other amounts payable | 47/48 | €221,152 | €221,152 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,956 | €19,554 | -€402 | -2.0% |
| Other operating charges | 640/8 | €2,374 | €3,195 | +€821 | +34.6% |
| Gross operating margin | 9900 | €20,341 | €17,061 | -€3,280 | -16.1% |
| Operating profit (loss) | 9901 | -€1,989 | -€5,688 | -€3,699 | -186% |
| Financial income | 75/76B | €181 | €290 | +€109 | +60.5% |
| Recurring financial income | 75 | €181 | €290 | +€109 | +60.5% |
| Financial charges | 65/66B | €1,462 | €1,320 | -€142 | -9.7% |
| Recurring financial charges | 65 | €1,462 | €1,320 | -€142 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,270 | -€6,718 | -€3,448 | -105% |
| Transfer from deferred taxes | 780 | €2,863 | €2,652 | -€211 | -7.4% |
| Profit (loss) for the period | 9904 | -€407 | -€4,066 | -€3,659 | -899% |
| Transfer from tax-exempt reserves | 789 | €5,561 | €5,151 | -€410 | -7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,154 | €1,085 | -€4,069 | -78.9% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.