BEPSY: 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.
BEPSY
Largest movements
- Cash +€54,940
up €54,940 (+85.0%), from €64,640 to €119,580
mainly Net result for the year (+€45,415) and Depreciation (+€20,473)
- Intangible fixed assets -€14,000
down €14,000 (-11.1%), from €125,962 to €111,962
- Receivables within one year +€5,658
new in 2025: €5,658
- Tangible fixed assets -€5,333
down €5,333 (-50.1%), from €10,653 to €5,320
- Deferred charges and accrued income +€3,256
up €3,256 (+27.0%), from €12,038 to €15,294
- Profit (loss) carried forward +€45,415
up €45,415 (+89.9%), from €50,535 to €95,950
- Tax, wage and social debts -€7,157
no longer reported in 2025 (was €7,157)
- Other debts +€5,124
up €5,124 (+286268.2%), from €2 to €5,126
- Gross operating margin -€14,224
down €14,224 (-15.5%), from €91,690 to €77,466
- Taxes -€8,620
down €8,620 (-45.0%), from €19,157 to €10,538
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 | €216,694 | €260,076 | +€43,382 | +20.0% |
| Formation expenses | 20 | €3,402 | €2,262 | -€1,140 | -33.5% |
| Fixed assets | 21/28 | €136,614 | €117,282 | -€19,333 | -14.2% |
| Intangible fixed assets | 21 | €125,962 | €111,962 | -€14,000 | -11.1% |
| Tangible fixed assets | 22/27 | €10,653 | €5,320 | -€5,333 | -50.1% |
| Furniture and vehicles | 24 | €10,653 | €5,320 | -€5,333 | -50.1% |
| Current assets | 29/58 | €76,678 | €140,533 | +€63,855 | +83.3% |
| Amounts receivable within one year | 40/41 | - | €5,658 | +€5,658 | |
| Other amounts receivable | 41 | - | €5,658 | +€5,658 | |
| Cash at bank and in hand | 54/58 | €64,640 | €119,580 | +€54,940 | +85.0% |
| Deferred charges and accrued income | 490/1 | €12,038 | €15,294 | +€3,256 | +27.0% |
| Total equity and liabilities | 10/49 | €216,694 | €260,076 | +€43,382 | +20.0% |
| Equity | 10/15 | €56,035 | €101,450 | +€45,415 | +81.0% |
| Contributions | 10/11 | €5,500 | €5,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,535 | €95,950 | +€45,415 | +89.9% |
| Amounts payable | 17/49 | €160,659 | €158,626 | -€2,033 | -1.3% |
| Amounts payable after more than one year | 17 | €153,500 | €153,500 | = | 0.0% |
| Financial debts | 170/4 | €153,500 | €153,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €7,159 | €5,126 | -€2,033 | -28.4% |
| Taxes, remuneration and social security | 45 | €7,157 | - | -€7,157 | |
| Taxes | 450/3 | €7,157 | - | -€7,157 | |
| Other amounts payable | 47/48 | €2 | €5,126 | +€5,124 | +286268.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,544 | €20,473 | -€71 | -0.3% |
| Other operating charges | 640/8 | €1,393 | €946 | -€447 | -32.1% |
| Gross operating margin | 9900 | €91,690 | €77,466 | -€14,224 | -15.5% |
| Operating profit (loss) | 9901 | €69,754 | €56,048 | -€13,706 | -19.6% |
| Financial charges | 65/66B | €62 | €95 | +€34 | +55.1% |
| Recurring financial charges | 65 | €62 | €95 | +€34 | +55.1% |
| Profit (loss) for the period before taxes | 9903 | €69,692 | €55,952 | -€13,740 | -19.7% |
| Income taxes | 67/77 | €19,157 | €10,538 | -€8,620 | -45.0% |
| Profit (loss) for the period | 9904 | €50,535 | €45,415 | -€5,120 | -10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €50,535 | €45,415 | -€5,120 | -10.1% |
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 3 October 2026 via checked.be.