BETHLEHEM: 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.
BETHLEHEM
Largest movements
- Tangible fixed assets +€99,141
up €99,141 (+14.8%), from €671,419 to €770,560
of which Other tangible fixed assets: +€170,858
- Receivables within one year -€79,751
down €79,751 (-70.5%), from €113,129 to €33,377
- Profit (loss) carried forward -€52,760
down €52,760 (-6.1%), from €861,749 to €808,989
- Investment grants +€50,000
new in 2025: €50,000
- Debts within one year +€25,603
up €25,603 (+146.6%), from €17,461 to €43,065
- Gross operating margin -€51,239
down €51,239, from €18,721 to -€32,519
- Other operating charges -€11,171
down €11,171 (-77.5%), from €14,414 to €3,244
- Depreciation +€976
up €976 (+4.6%), from €21,417 to €22,393
- Financial charges +€396
up €396 (+175.7%), from €225 to €621
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 | €931,611 | €949,535 | +€17,923 | +1.9% |
| Fixed assets | 21/28 | €671,419 | €770,560 | +€99,141 | +14.8% |
| Tangible fixed assets | 22/27 | €671,419 | €770,560 | +€99,141 | +14.8% |
| Other tangible fixed assets | 26 | €599,703 | €770,560 | +€170,858 | +28.5% |
| Assets under construction and advance payments | 27 | €71,716 | - | -€71,716 | |
| Current assets | 29/58 | €260,192 | €178,975 | -€81,218 | -31.2% |
| Amounts receivable within one year | 40/41 | €113,129 | €33,377 | -€79,751 | -70.5% |
| Other amounts receivable | 41 | €113,129 | €33,377 | -€79,751 | -70.5% |
| Current investments | 50/53 | €121,544 | €121,544 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €25,388 | €23,811 | -€1,577 | -6.2% |
| Deferred charges and accrued income | 490/1 | €132 | €242 | +€110 | +83.1% |
| Total equity and liabilities | 10/49 | €931,611 | €949,535 | +€17,923 | +1.9% |
| Equity | 10/15 | €910,237 | €901,868 | -€8,369 | -0.9% |
| Reserves | 13 | €48,487 | €42,878 | -€5,609 | -11.6% |
| Profit (loss) carried forward | 14 | €861,749 | €808,989 | -€52,760 | -6.1% |
| Investment grants | 15 | - | €50,000 | +€50,000 | |
| Amounts payable | 17/49 | €21,374 | €47,667 | +€26,292 | +123.0% |
| Amounts payable within one year | 42/48 | €17,461 | €43,065 | +€25,603 | +146.6% |
| Trade debts | 44 | €9,809 | €35,413 | +€25,603 | +261.0% |
| Suppliers | 440/4 | €9,809 | €35,413 | +€25,603 | +261.0% |
| Accrued charges and deferred income | 492/3 | €3,913 | €4,602 | +€689 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,417 | €22,393 | +€976 | +4.6% |
| Other operating charges | 640/8 | €14,414 | €3,244 | -€11,171 | -77.5% |
| Gross operating margin | 9900 | €18,721 | -€32,519 | -€51,239 | |
| Operating profit (loss) | 9901 | -€17,111 | -€58,155 | -€41,045 | -239.9% |
| Financial income | 75/76B | €638 | €408 | -€230 | -36.1% |
| Recurring financial income | 75 | €638 | €408 | -€230 | -36.1% |
| Financial charges | 65/66B | €225 | €621 | +€396 | +175.7% |
| Recurring financial charges | 65 | €225 | €621 | +€396 | +175.7% |
| Profit (loss) for the period before taxes | 9903 | -€16,698 | -€58,369 | -€41,671 | -249.6% |
| Profit (loss) for the period | 9904 | -€16,698 | -€58,369 | -€41,671 | -249.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,698 | -€58,369 | -€41,671 | -249.6% |
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 29 September 2026 via checked.be.