BEPM: 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.
BEPM
Largest movements
- Receivables within one year +€51,827
up €51,827 (+140%), from €37,026 to €88,853
of which Other amounts receivable: +€34,547
- Tangible fixed assets -€15,868
down €15,868 (-11.5%), from €138,396 to €122,528
of which Furniture and vehicles: -€16,135
- Deferred charges and accrued income -€2,780
down €2,780 (-81.2%), from €3,425 to €645
- Reserves +€37,601
up €37,601 (+23.1%), from €163,029 to €200,630
- Trade debts +€20,805
up €20,805 (+64,272%), from €32 to €20,837
- Profit (loss) carried forward -€12,592
no longer reported in 2025 (was €12,592)
- Current portion of long-term debt -€12,391
down €12,391 (-60.5%), from €20,492 to €8,101
- Tax, wage and social debts +€11,890
up €11,890 (+433%), from €2,747 to €14,636
- Gross operating margin -€93,622
down €93,622 (-62.7%), from €149,395 to €55,773
- Taxes -€14,827
down €14,827 (-41.2%), from €36,010 to €21,183
- Depreciation -€13,984
down €13,984 (-59.9%), from €23,346 to €9,362
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 | €212,821 | €246,988 | +€34,167 | +16.1% |
| Fixed assets | 21/28 | €138,396 | €122,528 | -€15,868 | -11.5% |
| Tangible fixed assets | 22/27 | €138,396 | €122,528 | -€15,868 | -11.5% |
| Land and buildings | 22 | €96,706 | €96,706 | = | 0.0% |
| Furniture and vehicles | 24 | €33,708 | €17,573 | -€16,135 | -47.9% |
| Other tangible fixed assets | 26 | €7,982 | €8,249 | +€267 | +3.3% |
| Current assets | 29/58 | €74,425 | €124,460 | +€50,036 | +67.2% |
| Amounts receivable within one year | 40/41 | €37,026 | €88,853 | +€51,827 | +140% |
| Trade receivables | 40 | €1,042 | €18,322 | +€17,279 | +1,658% |
| Other amounts receivable | 41 | €35,984 | €70,531 | +€34,547 | +96.0% |
| Cash at bank and in hand | 54/58 | €33,973 | €34,962 | +€989 | +2.9% |
| Deferred charges and accrued income | 490/1 | €3,425 | €645 | -€2,780 | -81.2% |
| Total equity and liabilities | 10/49 | €212,821 | €246,988 | +€34,167 | +16.1% |
| Equity | 10/15 | €176,371 | €201,380 | +€25,009 | +14.2% |
| Contributions | 10/11 | €750 | €750 | = | 0.0% |
| Reserves | 13 | €163,029 | €200,630 | +€37,601 | +23.1% |
| Distributable reserves | 133 | €163,029 | €200,630 | +€37,601 | +23.1% |
| Profit (loss) carried forward | 14 | €12,592 | - | -€12,592 | |
| Amounts payable | 17/49 | €36,451 | €45,609 | +€9,158 | +25.1% |
| Amounts payable after more than one year | 17 | €10,135 | €2,034 | -€8,101 | -79.9% |
| Financial debts | 170/4 | €10,135 | €2,034 | -€8,101 | -79.9% |
| Amounts payable within one year | 42/48 | €26,315 | €43,574 | +€17,259 | +65.6% |
| Current portion of amounts payable after more than one year | 42 | €20,492 | €8,101 | -€12,391 | -60.5% |
| Trade debts | 44 | €32 | €20,837 | +€20,805 | +64,272% |
| Suppliers | 440/4 | €32 | €20,837 | +€20,805 | +64,272% |
| Taxes, remuneration and social security | 45 | €2,747 | €14,636 | +€11,890 | +433% |
| Taxes | 450/3 | €2,747 | €14,636 | +€11,890 | +433% |
| Other amounts payable | 47/48 | €3,045 | - | -€3,045 | |
| Non-recurring operating income | 76A | - | €5,259 | +€5,259 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,346 | €9,362 | -€13,984 | -59.9% |
| Other operating charges | 640/8 | €540 | €507 | -€33 | -6.2% |
| Gross operating margin | 9900 | €149,395 | €55,773 | -€93,622 | -62.7% |
| Operating profit (loss) | 9901 | €125,508 | €45,904 | -€79,604 | -63.4% |
| Financial income | 75/76B | €45 | €829 | +€784 | +1,740% |
| Recurring financial income | 75 | €45 | €829 | +€784 | +1,740% |
| Financial charges | 65/66B | €461 | €540 | +€79 | +17.1% |
| Recurring financial charges | 65 | €461 | €540 | +€79 | +17.1% |
| Profit (loss) for the period before taxes | 9903 | €125,092 | €46,193 | -€78,899 | -63.1% |
| Income taxes | 67/77 | €36,010 | €21,183 | -€14,827 | -41.2% |
| Profit (loss) for the period | 9904 | €89,082 | €25,009 | -€64,072 | -71.9% |
| Profit (loss) for the period to be appropriated | 9905 | €89,082 | €25,009 | -€64,072 | -71.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.