BESTBEND: 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.
BESTBEND
Largest movements
- Cash -€147,312
down €147,312 (-55.2%), from €267,085 to €119,772
mainly Net result for the year (-€192,361) and Investment in fixed assets (net) (-€100,681)
- Receivables within one year +€46,751
up €46,751 (+13.2%), from €354,350 to €401,101
- Stocks and contracts +€40,240
up €40,240 (+22.4%), from €179,636 to €219,876
of which Contracts in progress: +€35,264
- Intangible fixed assets -€29,837
down €29,837 (-43.2%), from €69,068 to €39,231
- Tangible fixed assets -€21,873
down €21,873 (-6.7%), from €324,587 to €302,714
of which Leasing and similar rights: -€70,504
- Profit (loss) carried forward -€115,405
new in 2025: -€115,405
- Reserves -€76,956
down €76,956 (-70.8%), from €108,718 to €31,762
of which Distributable reserves: -€76,956
- Trade debts +€36,419
up €36,419 (+23.2%), from €156,961 to €193,380
- Short-term financial debts +€35,000
new in 2025: €35,000
- Advances received +€32,920
new in 2025: €32,920
- Staff costs -€32,795
down €32,795 (-5.4%), from €605,492 to €572,696
- Depreciation -€29,618
down €29,618 (-16.3%), from €182,009 to €152,391
- Write-downs +€15,019
new in 2025: €15,019
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 | €1,194,726 | €1,097,112 | -€97,614 | -8.2% |
| Fixed assets | 21/28 | €393,655 | €341,945 | -€51,710 | -13.1% |
| Intangible fixed assets | 21 | €69,068 | €39,231 | -€29,837 | -43.2% |
| Tangible fixed assets | 22/27 | €324,587 | €302,714 | -€21,873 | -6.7% |
| Plant, machinery and equipment | 23 | €81,390 | €132,457 | +€51,067 | +62.7% |
| Furniture and vehicles | 24 | €6,096 | €5,562 | -€534 | -8.8% |
| Leasing and similar rights | 25 | €230,075 | €159,571 | -€70,504 | -30.6% |
| Other tangible fixed assets | 26 | €7,026 | €5,125 | -€1,901 | -27.1% |
| Current assets | 29/58 | €801,071 | €755,167 | -€45,904 | -5.7% |
| Stocks and contracts in progress | 3 | €179,636 | €219,876 | +€40,240 | +22.4% |
| Stocks | 30/36 | €139,880 | €144,856 | +€4,976 | +3.6% |
| Contracts in progress | 37 | €39,756 | €75,020 | +€35,264 | +88.7% |
| Amounts receivable within one year | 40/41 | €354,350 | €401,101 | +€46,751 | +13.2% |
| Trade receivables | 40 | €354,350 | €401,101 | +€46,751 | +13.2% |
| Cash at bank and in hand | 54/58 | €267,085 | €119,772 | -€147,312 | -55.2% |
| Deferred charges and accrued income | 490/1 | - | €14,417 | +€14,417 | |
| Total equity and liabilities | 10/49 | €1,194,726 | €1,097,112 | -€97,614 | -8.2% |
| Equity | 10/15 | €757,119 | €564,758 | -€192,361 | -25.4% |
| Contributions | 10/11 | €648,401 | €648,401 | = | 0.0% |
| Capital | 10 | €648,401 | €648,401 | = | 0.0% |
| Issued capital | 100 | €648,401 | €648,401 | = | 0.0% |
| Reserves | 13 | €108,718 | €31,762 | -€76,956 | -70.8% |
| Non-distributable reserves | 130/1 | €29,212 | €29,212 | = | 0.0% |
| Legal reserve | 130 | €29,212 | €29,212 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,551 | €2,551 | = | 0.0% |
| Distributable reserves | 133 | €76,956 | - | -€76,956 | |
| Profit (loss) carried forward | 14 | - | -€115,405 | -€115,405 | |
| Amounts payable | 17/49 | €437,607 | €532,355 | +€94,748 | +21.7% |
| Amounts payable after more than one year | 17 | €144,975 | €135,475 | -€9,500 | -6.6% |
| Financial debts | 170/4 | €144,975 | €135,475 | -€9,500 | -6.6% |
| Amounts payable within one year | 42/48 | €292,632 | €396,880 | +€104,248 | +35.6% |
| Current portion of amounts payable after more than one year | 42 | €80,590 | €74,500 | -€6,090 | -7.6% |
| Financial debts | 43 | - | €35,000 | +€35,000 | |
| Credit institutions | 430/8 | - | €35,000 | +€35,000 | |
| Trade debts | 44 | €156,961 | €193,380 | +€36,419 | +23.2% |
| Suppliers | 440/4 | €156,961 | €193,380 | +€36,419 | +23.2% |
| Advances received on contracts in progress | 46 | - | €32,920 | +€32,920 | |
| Taxes, remuneration and social security | 45 | €55,081 | €61,080 | +€5,999 | +10.9% |
| Taxes | 450/3 | €8,056 | €11,830 | +€3,774 | +46.8% |
| Remuneration and social security | 454/9 | €47,025 | €49,250 | +€2,225 | +4.7% |
| Non-recurring operating income | 76A | €4,370 | - | -€4,370 | |
| Remuneration, social security and pensions | 62 | €605,492 | €572,696 | -€32,795 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,009 | €152,391 | -€29,618 | -16.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €15,019 | +€15,019 | |
| Other operating charges | 640/8 | €2,496 | €1,857 | -€638 | -25.6% |
| Gross operating margin | 9900 | €560,697 | €555,857 | -€4,841 | -0.9% |
| Operating profit (loss) | 9901 | -€229,299 | -€186,106 | +€43,193 | +18.8% |
| Financial income | 75/76B | €1 | €6 | +€5 | +479% |
| Recurring financial income | 75 | €1 | €6 | +€5 | +479% |
| Financial charges | 65/66B | €3,705 | €5,986 | +€2,281 | +61.6% |
| Recurring financial charges | 65 | €3,705 | €5,986 | +€2,281 | +61.6% |
| Profit (loss) for the period before taxes | 9903 | -€233,002 | -€192,086 | +€40,917 | +17.6% |
| Income taxes | 67/77 | -€454 | €276 | +€730 | |
| Profit (loss) for the period | 9904 | -€232,548 | -€192,361 | +€40,187 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€232,548 | -€192,361 | +€40,187 | +17.3% |
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 16 October 2026 via checked.be.