BESARD: 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.
BESARD
Largest movements
- Tangible fixed assets -€14,700
down €14,700 (-29.1%), from €50,567 to €35,868
of which Furniture and vehicles: -€14,618
- Stocks and contracts -€5,000
down €5,000 (-50.0%), from €10,000 to €5,000
- Receivables within one year -€3,799
down €3,799 (-4.8%), from €79,455 to €75,656
of which Other amounts receivable: -€11,033
- Deferred charges and accrued income +€3,036
up €3,036 (+759%), from €400 to €3,435
- Trade debts -€40,952
down €40,952 (-92.6%), from €44,229 to €3,277
- Reserves +€22,000
up €22,000 (+13.0%), from €169,370 to €191,370
- Other debts -€3,324
down €3,324 (-6.3%), from €52,880 to €49,556
- Gross operating margin +€9,203
up €9,203 (+18.0%), from €51,014 to €60,217
- Depreciation +€6,426
up €6,426 (+69.5%), from €9,246 to €15,672
- Taxes +€1,945
up €1,945 (+17.3%), from €11,245 to €13,190
- Financial income +€801
up €801 (+1,340%), from €60 to €861
- Financial charges -€673
down €673 (-17.0%), from €3,955 to €3,282
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 | €282,460 | €262,377 | -€20,083 | -7.1% |
| Fixed assets | 21/28 | €50,567 | €35,868 | -€14,700 | -29.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €50,567 | €35,868 | -€14,700 | -29.1% |
| Land and buildings | 22 | €910 | €829 | -€82 | -9.0% |
| Furniture and vehicles | 24 | €49,657 | €35,039 | -€14,618 | -29.4% |
| Current assets | 29/58 | €231,893 | €226,509 | -€5,383 | -2.3% |
| Stocks and contracts in progress | 3 | €10,000 | €5,000 | -€5,000 | -50.0% |
| Stocks | 30/36 | €10,000 | €5,000 | -€5,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €79,455 | €75,656 | -€3,799 | -4.8% |
| Trade receivables | 40 | €67,952 | €75,186 | +€7,234 | +10.6% |
| Other amounts receivable | 41 | €11,503 | €470 | -€11,033 | -95.9% |
| Cash at bank and in hand | 54/58 | €142,038 | €142,418 | +€380 | +0.3% |
| Deferred charges and accrued income | 490/1 | €400 | €3,435 | +€3,036 | +759% |
| Total equity and liabilities | 10/49 | €282,460 | €262,377 | -€20,083 | -7.1% |
| Equity | 10/15 | €182,185 | €204,228 | +€22,043 | +12.1% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €169,370 | €191,370 | +€22,000 | +13.0% |
| Distributable reserves | 133 | €169,370 | €191,370 | +€22,000 | +13.0% |
| Profit (loss) carried forward | 14 | €420 | €463 | +€43 | +10.3% |
| Amounts payable | 17/49 | €100,276 | €58,149 | -€42,126 | -42.0% |
| Amounts payable within one year | 42/48 | €99,509 | €57,332 | -€42,177 | -42.4% |
| Trade debts | 44 | €44,229 | €3,277 | -€40,952 | -92.6% |
| Suppliers | 440/4 | €44,229 | €3,277 | -€40,952 | -92.6% |
| Taxes, remuneration and social security | 45 | €2,400 | €4,499 | +€2,099 | +87.5% |
| Taxes | 450/3 | €2,400 | €4,499 | +€2,099 | +87.5% |
| Other amounts payable | 47/48 | €52,880 | €49,556 | -€3,324 | -6.3% |
| Accrued charges and deferred income | 492/3 | €766 | €817 | +€51 | +6.6% |
| Non-recurring operating income | 76A | €16,978 | €0 | -€16,978 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,246 | €15,672 | +€6,426 | +69.5% |
| Other operating charges | 640/8 | €1,013 | €1,491 | +€478 | +47.1% |
| Gross operating margin | 9900 | €51,014 | €60,217 | +€9,203 | +18.0% |
| Operating profit (loss) | 9901 | €40,755 | €43,054 | +€2,300 | +5.6% |
| Financial income | 75/76B | €60 | €861 | +€801 | +1,340% |
| Recurring financial income | 75 | €60 | €861 | +€801 | +1,340% |
| Financial charges | 65/66B | €3,955 | €3,282 | -€673 | -17.0% |
| Recurring financial charges | 65 | €3,955 | €3,282 | -€673 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €36,860 | €40,633 | +€3,774 | +10.2% |
| Income taxes | 67/77 | €11,245 | €13,190 | +€1,945 | +17.3% |
| Profit (loss) for the period | 9904 | €25,615 | €27,443 | +€1,828 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,615 | €27,443 | +€1,828 | +7.1% |
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 26 October 2026 via checked.be.