BEQUOYE GLENN: 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.
BEQUOYE GLENN
Largest movements
- Current investments +€180,000
new in 2025: €180,000
- Tangible fixed assets +€73,684
up €73,684 (+17.6%), from €419,768 to €493,453
of which Furniture and vehicles: +€89,281
- Cash -€53,715
down €53,715 (-92.4%), from €58,141 to €4,425
mainly Current investments (-€180,000) and Investment in fixed assets (net) (-€174,854)
- Receivables within one year +€12,953
up €12,953 (+27.0%), from €47,900 to €60,853
of which Trade receivables: +€12,858
- Debts after one year +€116,763
up €116,763 (+485%), from €24,072 to €140,835
- Reserves +€112,000
up €112,000 (+56.3%), from €199,000 to €311,000
- Trade debts -€52,930
down €52,930 (-72.0%), from €73,538 to €20,608
- Other debts +€28,198
up €28,198 (+42.3%), from €66,708 to €94,906
- Other operating charges -€60,049
down €60,049 (-98.0%), from €61,281 to €1,232
- Gross operating margin -€22,307
down €22,307 (-8.0%), from €280,088 to €257,780
- Taxes +€18,745
up €18,745 (+87.6%), from €21,403 to €40,148
- Depreciation +€12,405
up €12,405 (+14.0%), from €88,765 to €101,170
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 | €552,050 | €760,761 | +€208,711 | +37.8% |
| Fixed assets | 21/28 | €423,403 | €497,088 | +€73,684 | +17.4% |
| Tangible fixed assets | 22/27 | €419,768 | €493,453 | +€73,684 | +17.6% |
| Land and buildings | 22 | €88,263 | €78,616 | -€9,647 | -10.9% |
| Plant, machinery and equipment | 23 | €48,159 | €42,209 | -€5,949 | -12.4% |
| Furniture and vehicles | 24 | €283,347 | €372,628 | +€89,281 | +31.5% |
| Financial fixed assets | 28 | €3,635 | €3,635 | = | 0.0% |
| Current assets | 29/58 | €128,647 | €263,674 | +€135,027 | +105% |
| Amounts receivable within one year | 40/41 | €47,900 | €60,853 | +€12,953 | +27.0% |
| Trade receivables | 40 | €46,803 | €59,661 | +€12,858 | +27.5% |
| Other amounts receivable | 41 | €1,097 | €1,192 | +€95 | +8.7% |
| Current investments | 50/53 | - | €180,000 | +€180,000 | |
| Cash at bank and in hand | 54/58 | €58,141 | €4,425 | -€53,715 | -92.4% |
| Deferred charges and accrued income | 490/1 | €22,606 | €18,395 | -€4,211 | -18.6% |
| Total equity and liabilities | 10/49 | €552,050 | €760,761 | +€208,711 | +37.8% |
| Equity | 10/15 | €308,701 | €420,955 | +€112,254 | +36.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €199,000 | €311,000 | +€112,000 | +56.3% |
| Distributable reserves | 133 | €199,000 | €311,000 | +€112,000 | +56.3% |
| Profit (loss) carried forward | 14 | €106,701 | €106,955 | +€254 | +0.2% |
| Amounts payable | 17/49 | €243,349 | €339,806 | +€96,458 | +39.6% |
| Amounts payable after more than one year | 17 | €24,072 | €140,835 | +€116,763 | +485% |
| Financial debts | 170/4 | €24,072 | €140,835 | +€116,763 | +485% |
| Amounts payable within one year | 42/48 | €219,276 | €198,972 | -€20,305 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €45,083 | €45,383 | +€300 | +0.7% |
| Trade debts | 44 | €73,538 | €20,608 | -€52,930 | -72.0% |
| Suppliers | 440/4 | €73,538 | €20,608 | -€52,930 | -72.0% |
| Taxes, remuneration and social security | 45 | €33,947 | €38,074 | +€4,127 | +12.2% |
| Taxes | 450/3 | €21,447 | €35,574 | +€14,127 | +65.9% |
| Remuneration and social security | 454/9 | €12,500 | €2,500 | -€10,000 | -80.0% |
| Other amounts payable | 47/48 | €66,708 | €94,906 | +€28,198 | +42.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,765 | €101,170 | +€12,405 | +14.0% |
| Other operating charges | 640/8 | €61,281 | €1,232 | -€60,049 | -98.0% |
| Gross operating margin | 9900 | €280,088 | €257,780 | -€22,307 | -8.0% |
| Operating profit (loss) | 9901 | €130,043 | €155,379 | +€25,336 | +19.5% |
| Financial income | 75/76B | €32 | €439 | +€407 | +1,282% |
| Recurring financial income | 75 | €32 | €439 | +€407 | +1,282% |
| Financial charges | 65/66B | €2,828 | €3,416 | +€588 | +20.8% |
| Recurring financial charges | 65 | €2,828 | €3,416 | +€588 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | €127,246 | €152,402 | +€25,155 | +19.8% |
| Income taxes | 67/77 | €21,403 | €40,148 | +€18,745 | +87.6% |
| Profit (loss) for the period | 9904 | €105,844 | €112,254 | +€6,410 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €105,844 | €112,254 | +€6,410 | +6.1% |
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 29 October 2026 via checked.be.