BETA MANAGEMENT: 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.
BETA MANAGEMENT
Largest movements
- Receivables within one year +€348,052
up €348,052 (+35.5%), from €981,364 to €1.3m
of which Other amounts receivable: +€280,976
- Trade debts +€153,741
up €153,741 (+89.0%), from €172,782 to €326,523
- Reserves +€123,312
up €123,312 (+38.3%), from €321,845 to €445,157
of which Distributable reserves: +€123,312
- Provisions -€72,624
no longer reported in 2025 (was €72,624)
- Tax, wage and social debts +€68,703
up €68,703 (+36.5%), from €188,239 to €256,942
of which Taxes: +€105,424
- Short-term financial debts +€54,187
up €54,187 (+68.9%), from €78,589 to €132,775
- Gross operating margin +€91,508
up €91,508 (+63.7%), from €143,545 to €235,053
- Provisions -€72,624
new in 2025: -€72,624
- Taxes +€56,446
up €56,446 (+161%), from €35,042 to €91,487
- Other operating charges +€44,884
up €44,884 (+418%), from €10,729 to €55,613
- Financial income +€22,756
up €22,756 (+72.1%), from €31,541 to €54,296
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,515,152 | €3,808,766 | +€293,614 | +8.4% |
| Fixed assets | 21/28 | €1,963,295 | €1,938,522 | -€24,773 | -1.3% |
| Tangible fixed assets | 22/27 | €1,963,295 | €1,938,522 | -€24,773 | -1.3% |
| Land and buildings | 22 | €1,850,654 | €1,836,975 | -€13,680 | -0.7% |
| Plant, machinery and equipment | 23 | €108,394 | €99,373 | -€9,021 | -8.3% |
| Furniture and vehicles | 24 | €4,247 | €2,174 | -€2,072 | -48.8% |
| Current assets | 29/58 | €1,551,857 | €1,870,244 | +€318,387 | +20.5% |
| Amounts receivable after more than one year | 29 | €515,956 | €515,956 | = | 0.0% |
| Trade receivables | 290 | €515,956 | €515,956 | = | 0.0% |
| Stocks and contracts in progress | 3 | €32,471 | €10,643 | -€21,828 | -67.2% |
| Stocks | 30/36 | €32,471 | €10,643 | -€21,828 | -67.2% |
| Amounts receivable within one year | 40/41 | €981,364 | €1,329,415 | +€348,052 | +35.5% |
| Trade receivables | 40 | €108,478 | €175,554 | +€67,076 | +61.8% |
| Other amounts receivable | 41 | €872,886 | €1,153,862 | +€280,976 | +32.2% |
| Deferred charges and accrued income | 490/1 | €22,066 | €14,229 | -€7,837 | -35.5% |
| Total equity and liabilities | 10/49 | €3,515,152 | €3,808,766 | +€293,614 | +8.4% |
| Equity | 10/15 | €1,823,595 | €1,946,907 | +€123,312 | +6.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,401,750 | €1,401,750 | = | 0.0% |
| Reserves | 13 | €321,845 | €445,157 | +€123,312 | +38.3% |
| Non-distributable reserves | 130/1 | €3,004 | €3,004 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,004 | €3,004 | = | 0.0% |
| Distributable reserves | 133 | €318,841 | €442,153 | +€123,312 | +38.7% |
| Provisions and deferred taxes | 16 | €72,624 | - | -€72,624 | |
| Provisions for liabilities and charges | 160/5 | €72,624 | - | -€72,624 | |
| Pensions and similar obligations | 160 | €72,624 | - | -€72,624 | |
| Amounts payable | 17/49 | €1,618,933 | €1,861,859 | +€242,926 | +15.0% |
| Amounts payable after more than one year | 17 | €988,782 | €965,566 | -€23,216 | -2.3% |
| Financial debts | 170/4 | €988,782 | €865,566 | -€123,216 | -12.5% |
| Other amounts payable | 178/9 | - | €100,000 | +€100,000 | |
| Amounts payable within one year | 42/48 | €626,736 | €896,293 | +€269,557 | +43.0% |
| Current portion of amounts payable after more than one year | 42 | €130,290 | €123,216 | -€7,074 | -5.4% |
| Financial debts | 43 | €78,589 | €132,775 | +€54,187 | +68.9% |
| Credit institutions | 430/8 | €78,589 | €132,775 | +€54,187 | +68.9% |
| Trade debts | 44 | €172,782 | €326,523 | +€153,741 | +89.0% |
| Suppliers | 440/4 | €172,782 | €326,523 | +€153,741 | +89.0% |
| Taxes, remuneration and social security | 45 | €188,239 | €256,942 | +€68,703 | +36.5% |
| Taxes | 450/3 | €151,518 | €256,942 | +€105,424 | +69.6% |
| Remuneration and social security | 454/9 | €36,721 | - | -€36,721 | |
| Other amounts payable | 47/48 | €56,836 | €56,836 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,414 | - | -€3,414 | |
| Non-recurring operating income | 76A | - | €54,391 | +€54,391 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,085 | €24,773 | +€1,688 | +7.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€72,624 | -€72,624 | |
| Other operating charges | 640/8 | €10,729 | €55,613 | +€44,884 | +418% |
| Gross operating margin | 9900 | €143,545 | €235,053 | +€91,508 | +63.7% |
| Operating profit (loss) | 9901 | €109,731 | €227,291 | +€117,560 | +107% |
| Financial income | 75/76B | €31,541 | €54,296 | +€22,756 | +72.1% |
| Recurring financial income | 75 | €31,541 | €54,296 | +€22,756 | +72.1% |
| Financial charges | 65/66B | €55,679 | €66,788 | +€11,109 | +20.0% |
| Recurring financial charges | 65 | €55,679 | €66,788 | +€11,109 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €85,593 | €214,799 | +€129,206 | +151% |
| Income taxes | 67/77 | €35,042 | €91,487 | +€56,446 | +161% |
| Profit (loss) for the period | 9904 | €50,552 | €123,312 | +€72,760 | +144% |
| Profit (loss) for the period to be appropriated | 9905 | €50,552 | €123,312 | +€72,760 | +144% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.