BESAD TRADE: 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.
BESAD TRADE
Largest movements
- Receivables within one year +€294,221
up €294,221 (+61.3%), from €480,096 to €774,316
of which Other amounts receivable: +€218,662
- Deferred charges and accrued income -€250,000
down €250,000 (-100%), from €250,000 to €0
- Receivables after one year -€235,000
down €235,000 (-100%), from €235,000 to €0
- Stocks and contracts -€42,061
down €42,061 (-65.9%), from €63,785 to €21,724
- Debts after one year -€428,965
down €428,965 (-42.9%), from €1.0m to €571,035
- Other debts +€355,013
up €355,013 (+399%), from €88,952 to €443,965
- Trade debts -€134,121
down €134,121 (-42.3%), from €316,766 to €182,645
- Tax, wage and social debts -€60,985
down €60,985 (-82.6%), from €73,800 to €12,816
- Reserves +€27,600
up €27,600 (+15.4%), from €178,700 to €206,300
- Gross operating margin +€259,044
up €259,044, from -€221,280 to €37,764
- Financial income -€211,348
down €211,348 (-76.2%), from €277,373 to €66,025
- Financial charges +€32,964
up €32,964 (+126%), from €26,185 to €59,149
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 | €1,678,221 | €1,436,763 | -€241,458 | -14.4% |
| Fixed assets | 21/28 | €10,889 | €8,889 | -€2,000 | -18.4% |
| Tangible fixed assets | 22/27 | €10,889 | €8,889 | -€2,000 | -18.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €10,889 | €8,889 | -€2,000 | -18.4% |
| Current assets | 29/58 | €1,667,332 | €1,427,874 | -€239,458 | -14.4% |
| Amounts receivable after more than one year | 29 | €235,000 | €0 | -€235,000 | -100% |
| Other amounts receivable | 291 | €235,000 | €0 | -€235,000 | -100% |
| Stocks and contracts in progress | 3 | €63,785 | €21,724 | -€42,061 | -65.9% |
| Stocks | 30/36 | €63,785 | €21,724 | -€42,061 | -65.9% |
| Amounts receivable within one year | 40/41 | €480,096 | €774,316 | +€294,221 | +61.3% |
| Trade receivables | 40 | €179,164 | €254,723 | +€75,559 | +42.2% |
| Other amounts receivable | 41 | €300,932 | €519,594 | +€218,662 | +72.7% |
| Cash at bank and in hand | 54/58 | €638,451 | €631,834 | -€6,618 | -1.0% |
| Deferred charges and accrued income | 490/1 | €250,000 | €0 | -€250,000 | -100% |
| Total equity and liabilities | 10/49 | €1,678,221 | €1,436,763 | -€241,458 | -14.4% |
| Equity | 10/15 | €198,703 | €226,303 | +€27,600 | +13.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €178,700 | €206,300 | +€27,600 | +15.4% |
| Distributable reserves | 133 | €178,700 | €206,300 | +€27,600 | +15.4% |
| Profit (loss) carried forward | 14 | €3 | €3 | -€0 | -3.0% |
| Amounts payable | 17/49 | €1,479,519 | €1,210,461 | -€269,058 | -18.2% |
| Amounts payable after more than one year | 17 | €1,000,000 | €571,035 | -€428,965 | -42.9% |
| Financial debts | 170/4 | €1,000,000 | €571,035 | -€428,965 | -42.9% |
| Amounts payable within one year | 42/48 | €479,519 | €639,426 | +€159,908 | +33.3% |
| Trade debts | 44 | €316,766 | €182,645 | -€134,121 | -42.3% |
| Suppliers | 440/4 | €316,766 | €182,645 | -€134,121 | -42.3% |
| Taxes, remuneration and social security | 45 | €73,800 | €12,816 | -€60,985 | -82.6% |
| Taxes | 450/3 | €73,800 | €12,816 | -€60,985 | -82.6% |
| Other amounts payable | 47/48 | €88,952 | €443,965 | +€355,013 | +399% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,305 | €2,000 | -€305 | -13.2% |
| Other operating charges | 640/8 | €2,911 | €2,224 | -€687 | -23.6% |
| Gross operating margin | 9900 | -€221,280 | €37,764 | +€259,044 | |
| Operating profit (loss) | 9901 | -€226,496 | €33,540 | +€260,036 | |
| Financial income | 75/76B | €277,373 | €66,025 | -€211,348 | -76.2% |
| Recurring financial income | 75 | €277,373 | €66,025 | -€211,348 | -76.2% |
| Financial charges | 65/66B | €26,185 | €59,149 | +€32,964 | +126% |
| Recurring financial charges | 65 | €26,185 | €59,149 | +€32,964 | +126% |
| Profit (loss) for the period before taxes | 9903 | €24,692 | €40,416 | +€15,724 | +63.7% |
| Income taxes | 67/77 | €12,261 | €12,816 | +€555 | +4.5% |
| Profit (loss) for the period | 9904 | €12,431 | €27,600 | +€15,169 | +122% |
| Profit (loss) for the period to be appropriated | 9905 | €12,431 | €27,600 | +€15,169 | +122% |
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 31 October 2026 via checked.be.