BEPM PROJECTS: 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.
BEPM PROJECTS
Largest movements
- Receivables after one year +€5,891
up €5,891 (+105.7%), from €5,575 to €11,466
- Cash +€5,169
up €5,169 (+21.6%), from €23,942 to €29,111
mainly Tax, wage and social debts (+€6,570) and Net result for the year (+€5,165)
- Receivables within one year +€1,220
up €1,220 (+7.5%), from €16,351 to €17,571
of which Trade receivables: +€2,301
- Tangible fixed assets +€663
new in 2025: €663
- Tax, wage and social debts +€6,570
new in 2025: €6,570
- Profit (loss) carried forward +€5,165
up €5,165, from -€2,876 to €2,288
- Trade debts +€1,366
up €1,366 (+112.1%), from €1,219 to €2,586
- Financial charges -€11,432
down €11,432 (-23.6%), from €48,364 to €36,933
- Other operating charges -€4,603
down €4,603 (-21.5%), from €21,418 to €16,815
- Gross operating margin -€3,716
down €3,716 (-5.8%), from €64,176 to €60,460
- Taxes +€1,282
up €1,282 (+1001.3%), from €128 to €1,410
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 | €45,946 | €59,046 | +€13,101 | +28.5% |
| Fixed assets | 21/28 | - | €663 | +€663 | |
| Tangible fixed assets | 22/27 | - | €663 | +€663 | |
| Plant, machinery and equipment | 23 | - | €663 | +€663 | |
| Current assets | 29/58 | €45,946 | €58,383 | +€12,438 | +27.1% |
| Amounts receivable after more than one year | 29 | €5,575 | €11,466 | +€5,891 | +105.7% |
| Other amounts receivable | 291 | €5,575 | €11,466 | +€5,891 | +105.7% |
| Amounts receivable within one year | 40/41 | €16,351 | €17,571 | +€1,220 | +7.5% |
| Trade receivables | 40 | €8,680 | €10,981 | +€2,301 | +26.5% |
| Other amounts receivable | 41 | €7,671 | €6,590 | -€1,081 | -14.1% |
| Cash at bank and in hand | 54/58 | €23,942 | €29,111 | +€5,169 | +21.6% |
| Deferred charges and accrued income | 490/1 | €78 | €235 | +€157 | +202.6% |
| Total equity and liabilities | 10/49 | €45,946 | €59,046 | +€13,101 | +28.5% |
| Equity | 10/15 | €44,726 | €49,891 | +€5,165 | +11.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €46,603 | €46,603 | = | 0.0% |
| Distributable reserves | 133 | €46,603 | €46,603 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,876 | €2,288 | +€5,165 | |
| Amounts payable | 17/49 | €1,219 | €9,155 | +€7,936 | +651.0% |
| Amounts payable within one year | 42/48 | €1,219 | €9,155 | +€7,936 | +651.0% |
| Trade debts | 44 | €1,219 | €2,586 | +€1,366 | +112.1% |
| Suppliers | 440/4 | €1,219 | €2,586 | +€1,366 | +112.1% |
| Taxes, remuneration and social security | 45 | - | €6,570 | +€6,570 | |
| Taxes | 450/3 | - | €6,570 | +€6,570 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €137 | +€137 | |
| Other operating charges | 640/8 | €21,418 | €16,815 | -€4,603 | -21.5% |
| Gross operating margin | 9900 | €64,176 | €60,460 | -€3,716 | -5.8% |
| Operating profit (loss) | 9901 | €42,757 | €43,507 | +€750 | +1.8% |
| Financial income | 75/76B | €62 | €0 | -€62 | -99.9% |
| Recurring financial income | 75 | €62 | €0 | -€62 | -99.9% |
| Financial charges | 65/66B | €48,364 | €36,933 | -€11,432 | -23.6% |
| Recurring financial charges | 65 | €48,364 | €36,933 | -€11,432 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | -€5,545 | €6,574 | +€12,120 | |
| Income taxes | 67/77 | €128 | €1,410 | +€1,282 | +1001.3% |
| Profit (loss) for the period | 9904 | -€5,673 | €5,165 | +€10,838 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,673 | €5,165 | +€10,838 |
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 29 September 2026 via checked.be.