BESOP: what changed
Two fiscal 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.
BESOP
Largest movements
- Receivables within one year +€55,764
new in 2025: €55,764
- Cash -€36,666
down €36,666 (-50.8%), from €72,241 to €35,575
mainly Receivables within one year (-€55,764) and Debts after one year (-€29,469)
- Tangible fixed assets -€13,277
down €13,277 (-7.8%), from €170,912 to €157,635
of which Plant, machinery and equipment: -€7,821
- Debts after one year -€29,469
down €29,469 (-27.4%), from €107,564 to €78,095
- Reserves +€24,765
up €24,765 (+42.8%), from €57,870 to €82,635
- Trade debts +€14,838
up €14,838 (+443.1%), from €3,348 to €18,186
- Tax, wage and social debts -€5,510
down €5,510 (-22.4%), from €24,585 to €19,075
- Gross operating margin -€42,870
down €42,870 (-47.6%), from €90,117 to €47,247
- Taxes -€16,419
down €16,419 (-70.2%), from €23,385 to €6,966
- Depreciation -€3,601
down €3,601 (-21.3%), from €16,878 to €13,277
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.
Cash bridge derived
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 | €243,153 | €248,974 | +€5,821 | +2.4% |
| Fixed assets | 21/28 | €170,912 | €157,635 | -€13,277 | -7.8% |
| Tangible fixed assets | 22/27 | €170,912 | €157,635 | -€13,277 | -7.8% |
| Land and buildings | 22 | €161,541 | €156,084 | -€5,457 | -3.4% |
| Plant, machinery and equipment | 23 | €9,371 | €1,551 | -€7,821 | -83.5% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €72,241 | €91,339 | +€19,098 | +26.4% |
| Amounts receivable within one year | 40/41 | - | €55,764 | +€55,764 | |
| Other amounts receivable | 41 | - | €55,764 | +€55,764 | |
| Cash at bank and in hand | 54/58 | €72,241 | €35,575 | -€36,666 | -50.8% |
| Total equity and liabilities | 10/49 | €243,153 | €248,974 | +€5,821 | +2.4% |
| Equity | 10/15 | €77,871 | €102,636 | +€24,765 | +31.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €57,870 | €82,635 | +€24,765 | +42.8% |
| Distributable reserves | 133 | €57,870 | €82,635 | +€24,765 | +42.8% |
| Profit (loss) carried forward | 14 | €1 | €1 | = | 0.0% |
| Amounts payable | 17/49 | €165,282 | €146,338 | -€18,944 | -11.5% |
| Amounts payable after more than one year | 17 | €107,564 | €78,095 | -€29,469 | -27.4% |
| Financial debts | 170/4 | €107,564 | €78,095 | -€29,469 | -27.4% |
| Amounts payable within one year | 42/48 | €57,718 | €68,243 | +€10,525 | +18.2% |
| Current portion of amounts payable after more than one year | 42 | €29,784 | €30,982 | +€1,197 | +4.0% |
| Trade debts | 44 | €3,348 | €18,186 | +€14,838 | +443.1% |
| Suppliers | 440/4 | €3,348 | €18,186 | +€14,838 | +443.1% |
| Taxes, remuneration and social security | 45 | €24,585 | €19,075 | -€5,510 | -22.4% |
| Taxes | 450/3 | €24,585 | €19,075 | -€5,510 | -22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,878 | €13,277 | -€3,601 | -21.3% |
| Other operating charges | 640/8 | €1,330 | €1,365 | +€35 | +2.6% |
| Gross operating margin | 9900 | €90,117 | €47,247 | -€42,870 | -47.6% |
| Operating profit (loss) | 9901 | €71,909 | €32,605 | -€39,304 | -54.7% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €1,043 | €876 | -€167 | -16.0% |
| Recurring financial charges | 65 | €1,043 | €876 | -€167 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €70,866 | €31,731 | -€39,134 | -55.2% |
| Income taxes | 67/77 | €23,385 | €6,966 | -€16,419 | -70.2% |
| Profit (loss) for the period | 9904 | €47,481 | €24,765 | -€22,716 | -47.8% |
| Profit (loss) for the period to be appropriated | 9905 | €47,481 | €24,765 | -€22,716 | -47.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.