BESCO: what changed
BESCO
Largest movements
- Receivables after one year -€601,000
no longer reported in 2025 (was €601,000)
- Current investments -€140,117
down €140,117 (-20.2%), from €693,697 to €553,580
- Tangible fixed assets +€117,285
up €117,285 (+19.9%), from €589,554 to €706,839
of which Furniture and vehicles: +€91,162
- Cash +€78,605
up €78,605 (+328%), from €23,978 to €102,583
mainly Receivables after one year (+€601,000) and Net result for the year (+€373,446)
- Financial fixed assets -€30,000
down €30,000 (-8.8%), from €340,520 to €310,520
- Other debts -€295,999
down €295,999 (-99.8%), from €296,461 to €462
- Reserves -€238,176
down €238,176 (-12.8%), from €1.9m to €1.6m
- Tax, wage and social debts -€38,538
down €38,538 (-39.2%), from €98,327 to €59,789
of which Taxes: -€36,817
- Taxes -€70,512
down €70,512 (-60.7%), from €116,150 to €45,637
- Financial charges +€65,588
up €65,588 (+503%), from €13,050 to €78,638
- Depreciation +€43,915
up €43,915 (+30.0%), from €146,596 to €190,511
- Financial income -€38,805
down €38,805 (-35.5%), from €109,179 to €70,374
of which Non-recurring financial income: -€64,936
- Staff costs +€29,476
up €29,476 (+9.6%), from €307,908 to €337,384
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,646,947 | €2,070,038 | -€576,909 | -21.8% |
| Fixed assets | 21/28 | €1,059,589 | €1,154,346 | +€94,757 | +8.9% |
| Intangible fixed assets | 21 | €129,515 | €136,987 | +€7,472 | +5.8% |
| Tangible fixed assets | 22/27 | €589,554 | €706,839 | +€117,285 | +19.9% |
| Land and buildings | 22 | €450,274 | €422,294 | -€27,980 | -6.2% |
| Plant, machinery and equipment | 23 | €7,018 | €4,969 | -€2,049 | -29.2% |
| Furniture and vehicles | 24 | €61,413 | €152,575 | +€91,162 | +148% |
| Other tangible fixed assets | 26 | €70,849 | €127,001 | +€56,152 | +79.3% |
| Financial fixed assets | 28 | €340,520 | €310,520 | -€30,000 | -8.8% |
| Current assets | 29/58 | €1,587,359 | €915,692 | -€671,666 | -42.3% |
| Amounts receivable after more than one year | 29 | €601,000 | - | -€601,000 | |
| Trade receivables | 290 | €601,000 | - | -€601,000 | |
| Amounts receivable within one year | 40/41 | €196,401 | €199,475 | +€3,074 | +1.6% |
| Trade receivables | 40 | €75,524 | €55,280 | -€20,244 | -26.8% |
| Other amounts receivable | 41 | €120,877 | €144,195 | +€23,318 | +19.3% |
| Current investments | 50/53 | €693,697 | €553,580 | -€140,117 | -20.2% |
| Cash at bank and in hand | 54/58 | €23,978 | €102,583 | +€78,605 | +328% |
| Deferred charges and accrued income | 490/1 | €72,283 | €60,054 | -€12,229 | -16.9% |
| Total equity and liabilities | 10/49 | €2,646,947 | €2,070,038 | -€576,909 | -21.8% |
| Equity | 10/15 | €1,868,511 | €1,630,336 | -€238,176 | -12.7% |
| Contributions | 10/11 | €13,100 | €13,100 | = | 0.0% |
| Reserves | 13 | €1,855,411 | €1,617,236 | -€238,176 | -12.8% |
| Distributable reserves | 133 | €1,855,411 | €1,617,236 | -€238,176 | -12.8% |
| Amounts payable | 17/49 | €778,436 | €439,703 | -€338,734 | -43.5% |
| Amounts payable within one year | 42/48 | €428,287 | €83,389 | -€344,898 | -80.5% |
| Trade debts | 44 | €33,498 | €23,137 | -€10,361 | -30.9% |
| Suppliers | 440/4 | €33,498 | €23,137 | -€10,361 | -30.9% |
| Taxes, remuneration and social security | 45 | €98,327 | €59,789 | -€38,538 | -39.2% |
| Taxes | 450/3 | €64,663 | €27,846 | -€36,817 | -56.9% |
| Remuneration and social security | 454/9 | €33,664 | €31,943 | -€1,721 | -5.1% |
| Other amounts payable | 47/48 | €296,461 | €462 | -€295,999 | -99.8% |
| Accrued charges and deferred income | 492/3 | €350,149 | €356,314 | +€6,164 | +1.8% |
| Remuneration, social security and pensions | 62 | €307,908 | €337,384 | +€29,476 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €146,596 | €190,511 | +€43,915 | +30.0% |
| Other operating charges | 640/8 | €2,625 | €2,800 | +€175 | +6.7% |
| Gross operating margin | 9900 | €970,056 | €958,043 | -€12,013 | -1.2% |
| Operating profit (loss) | 9901 | €512,927 | €427,348 | -€85,580 | -16.7% |
| Financial income | 75/76B | €109,179 | €70,374 | -€38,805 | -35.5% |
| Recurring financial income | 75 | €30,695 | €56,825 | +€26,130 | +85.1% |
| Non-recurring financial income | 76B | €78,485 | €13,549 | -€64,936 | -82.7% |
| Financial charges | 65/66B | €13,050 | €78,638 | +€65,588 | +503% |
| Recurring financial charges | 65 | €13,050 | €78,638 | +€65,588 | +503% |
| Profit (loss) for the period before taxes | 9903 | €609,057 | €419,084 | -€189,973 | -31.2% |
| Income taxes | 67/77 | €116,150 | €45,637 | -€70,512 | -60.7% |
| Profit (loss) for the period | 9904 | €492,907 | €373,446 | -€119,461 | -24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €492,907 | €373,446 | -€119,461 | -24.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.