BESHIELD: 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.
BESHIELD
Largest movements
- Cash +€24,904
up €24,904 (+131%), from €19,068 to €43,972
mainly Net result for the year (+€11,006) and Other debts (+€8,151)
- Tangible fixed assets -€2,627
down €2,627 (-38.6%), from €6,811 to €4,184
of which Furniture and vehicles: -€1,373
- Stocks and contracts +€1,509
up €1,509 (+10.8%), from €14,032 to €15,541
- Profit (loss) carried forward +€11,006
up €11,006 (+66.9%), from €16,454 to €27,460
- Other debts +€8,151
up €8,151 (+93.8%), from €8,692 to €16,843
- Tax, wage and social debts +€5,203
up €5,203 (+75.0%), from €6,941 to €12,144
- Trade debts -€970
down €970 (-59.5%), from €1,629 to €659
- Gross operating margin -€8,584
down €8,584 (-33.0%), from €26,005 to €17,421
- Taxes -€1,673
down €1,673 (-31.1%), from €5,387 to €3,714
- Financial income +€917
up €917 (+7,642%), from €12 to €929
- Other operating charges -€432
down €432 (-73.6%), from €587 to €155
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 | €41,716 | €65,106 | +€23,390 | +56.1% |
| Fixed assets | 21/28 | €7,399 | €4,387 | -€3,012 | -40.7% |
| Intangible fixed assets | 21 | €228 | €203 | -€25 | -11.0% |
| Tangible fixed assets | 22/27 | €6,811 | €4,184 | -€2,627 | -38.6% |
| Plant, machinery and equipment | 23 | €2,716 | €1,462 | -€1,254 | -46.2% |
| Furniture and vehicles | 24 | €4,095 | €2,722 | -€1,373 | -33.5% |
| Financial fixed assets | 28 | €360 | - | -€360 | |
| Current assets | 29/58 | €34,317 | €60,719 | +€26,402 | +76.9% |
| Stocks and contracts in progress | 3 | €14,032 | €15,541 | +€1,509 | +10.8% |
| Stocks | 30/36 | €14,032 | €15,541 | +€1,509 | +10.8% |
| Amounts receivable within one year | 40/41 | €1,217 | €1,148 | -€69 | -5.7% |
| Trade receivables | 40 | €1,217 | €1,148 | -€69 | -5.7% |
| Cash at bank and in hand | 54/58 | €19,068 | €43,972 | +€24,904 | +131% |
| Deferred charges and accrued income | 490/1 | - | €58 | +€58 | |
| Total equity and liabilities | 10/49 | €41,716 | €65,106 | +€23,390 | +56.1% |
| Equity | 10/15 | €24,454 | €35,460 | +€11,006 | +45.0% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,454 | €27,460 | +€11,006 | +66.9% |
| Amounts payable | 17/49 | €17,262 | €29,646 | +€12,384 | +71.7% |
| Amounts payable within one year | 42/48 | €17,262 | €29,646 | +€12,384 | +71.7% |
| Trade debts | 44 | €1,629 | €659 | -€970 | -59.5% |
| Suppliers | 440/4 | €1,629 | €659 | -€970 | -59.5% |
| Taxes, remuneration and social security | 45 | €6,941 | €12,144 | +€5,203 | +75.0% |
| Taxes | 450/3 | €6,941 | €12,144 | +€5,203 | +75.0% |
| Other amounts payable | 47/48 | €8,692 | €16,843 | +€8,151 | +93.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,456 | €3,349 | -€107 | -3.1% |
| Other operating charges | 640/8 | €587 | €155 | -€432 | -73.6% |
| Gross operating margin | 9900 | €26,005 | €17,421 | -€8,584 | -33.0% |
| Operating profit (loss) | 9901 | €21,962 | €13,917 | -€8,045 | -36.6% |
| Financial income | 75/76B | €12 | €929 | +€917 | +7,642% |
| Recurring financial income | 75 | €12 | €929 | +€917 | +7,642% |
| Financial charges | 65/66B | €133 | €126 | -€7 | -5.3% |
| Recurring financial charges | 65 | €133 | €126 | -€7 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €21,841 | €14,720 | -€7,121 | -32.6% |
| Income taxes | 67/77 | €5,387 | €3,714 | -€1,673 | -31.1% |
| Profit (loss) for the period | 9904 | €16,454 | €11,006 | -€5,448 | -33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,454 | €11,006 | -€5,448 | -33.1% |
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.