BEPO MANAGEMENT: 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.
BEPO MANAGEMENT
Largest movements
- Tangible fixed assets +€36,594
up €36,594 (+391%), from €9,351 to €45,944
of which Other tangible fixed assets: +€33,382
- Receivables within one year -€18,931
down €18,931 (-45.9%), from €41,257 to €22,326
of which Other amounts receivable: -€12,882
- Deferred charges and accrued income -€7,596
down €7,596 (-73.4%), from €10,350 to €2,754
- Cash +€6,668
up €6,668 (+23.8%), from €28,047 to €34,715
mainly Net result for the year (+€79,467) and Other debts (+€34,471)
- Reserves -€70,000
down €70,000 (-77.8%), from €90,000 to €20,000
- Other debts +€34,471
up €34,471, from €0 to €34,471
- Accrued charges and deferred income +€15,688
up €15,688 (+492%), from €3,190 to €18,878
- Tax, wage and social debts +€15,304
up €15,304 (+103%), from €14,918 to €30,222
of which Taxes: +€16,351
- Short-term financial debts +€9,382
new in 2025: €9,382
- Gross operating margin +€59,173
up €59,173 (+95.0%), from €62,315 to €121,488
- Other operating charges +€4,363
up €4,363 (+329%), from €1,325 to €5,688
- Taxes -€4,140
down €4,140 (-29.1%), from €14,215 to €10,075
- Financial charges +€3,580
up €3,580 (+288%), from €1,243 to €4,823
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 | €114,004 | €130,739 | +€16,735 | +14.7% |
| Fixed assets | 21/28 | €34,351 | €70,944 | +€36,594 | +107% |
| Tangible fixed assets | 22/27 | €9,351 | €45,944 | +€36,594 | +391% |
| Land and buildings | 22 | €2,431 | €2,118 | -€313 | -12.9% |
| Plant, machinery and equipment | 23 | €609 | €821 | +€212 | +34.9% |
| Furniture and vehicles | 24 | €4,447 | €7,759 | +€3,313 | +74.5% |
| Other tangible fixed assets | 26 | €1,864 | €35,246 | +€33,382 | +1,791% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €79,653 | €59,795 | -€19,858 | -24.9% |
| Amounts receivable within one year | 40/41 | €41,257 | €22,326 | -€18,931 | -45.9% |
| Trade receivables | 40 | €18,374 | €12,326 | -€6,048 | -32.9% |
| Other amounts receivable | 41 | €22,882 | €10,000 | -€12,882 | -56.3% |
| Cash at bank and in hand | 54/58 | €28,047 | €34,715 | +€6,668 | +23.8% |
| Deferred charges and accrued income | 490/1 | €10,350 | €2,754 | -€7,596 | -73.4% |
| Total equity and liabilities | 10/49 | €114,004 | €130,739 | +€16,735 | +14.7% |
| Equity | 10/15 | €94,885 | €24,351 | -€70,533 | -74.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €90,000 | €20,000 | -€70,000 | -77.8% |
| Distributable reserves | 133 | €90,000 | €20,000 | -€70,000 | -77.8% |
| Profit (loss) carried forward | 14 | €1,885 | €1,351 | -€533 | -28.3% |
| Amounts payable | 17/49 | €19,119 | €106,388 | +€87,269 | +456% |
| Amounts payable after more than one year | 17 | €0 | €8,722 | +€8,722 | |
| Financial debts | 170/4 | €0 | €8,722 | +€8,722 | |
| Amounts payable within one year | 42/48 | €15,929 | €78,787 | +€62,858 | +395% |
| Current portion of amounts payable after more than one year | 42 | €866 | €3,749 | +€2,884 | +333% |
| Financial debts | 43 | - | €9,382 | +€9,382 | |
| Other loans | 439 | - | €9,382 | +€9,382 | |
| Trade debts | 44 | €146 | €962 | +€817 | +561% |
| Suppliers | 440/4 | €146 | €962 | +€817 | +561% |
| Taxes, remuneration and social security | 45 | €14,918 | €30,222 | +€15,304 | +103% |
| Taxes | 450/3 | €13,871 | €30,222 | +€16,351 | +118% |
| Remuneration and social security | 454/9 | €1,047 | €0 | -€1,047 | -100% |
| Other amounts payable | 47/48 | €0 | €34,471 | +€34,471 | |
| Accrued charges and deferred income | 492/3 | €3,190 | €18,878 | +€15,688 | +492% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,576 | €4,656 | +€1,080 | +30.2% |
| Other operating charges | 640/8 | €1,325 | €5,688 | +€4,363 | +329% |
| Non-recurring operating charges | 66A | €0 | €16,780 | +€16,780 | |
| Gross operating margin | 9900 | €62,315 | €121,488 | +€59,173 | +95.0% |
| Operating profit (loss) | 9901 | €57,414 | €94,364 | +€36,950 | +64.4% |
| Financial income | 75/76B | €1,208 | €0 | -€1,208 | -100% |
| Recurring financial income | 75 | €1,208 | €0 | -€1,208 | -100% |
| Financial charges | 65/66B | €1,243 | €4,823 | +€3,580 | +288% |
| Recurring financial charges | 65 | €1,243 | €4,823 | +€3,580 | +288% |
| Profit (loss) for the period before taxes | 9903 | €57,379 | €89,541 | +€32,162 | +56.1% |
| Income taxes | 67/77 | €14,215 | €10,075 | -€4,140 | -29.1% |
| Profit (loss) for the period | 9904 | €43,164 | €79,467 | +€36,302 | +84.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,164 | €79,467 | +€36,302 | +84.1% |
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 17 October 2026 via checked.be.