BEULS: 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.
BEULS
Largest movements
- Tangible fixed assets +€32,548
up €32,548 (+2.1%), from €1.6m to €1.6m
of which Land and buildings: +€27,469
- Accrued charges and deferred income +€38,968
up €38,968 (+100.3%), from €38,855 to €77,823
- Gross operating margin -€7,213
down €7,213 (-14.2%), from €50,678 to €43,465
- Financial charges +€1,930
up €1,930 (+4.3%), from €44,783 to €46,713
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 | €1,575,999 | €1,607,128 | +€31,129 | +2.0% |
| Fixed assets | 21/28 | €1,572,910 | €1,605,458 | +€32,548 | +2.1% |
| Tangible fixed assets | 22/27 | €1,572,910 | €1,605,458 | +€32,548 | +2.1% |
| Land and buildings | 22 | €1,556,809 | €1,584,278 | +€27,469 | +1.8% |
| Plant, machinery and equipment | 23 | €16,101 | €21,180 | +€5,079 | +31.5% |
| Current assets | 29/58 | €3,089 | €1,670 | -€1,419 | -45.9% |
| Cash at bank and in hand | 54/58 | €2,277 | €827 | -€1,450 | -63.7% |
| Deferred charges and accrued income | 490/1 | €812 | €843 | +€31 | +3.8% |
| Total equity and liabilities | 10/49 | €1,575,999 | €1,607,128 | +€31,129 | +2.0% |
| Equity | 10/15 | €237,732 | €234,311 | -€3,421 | -1.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €217,732 | €214,311 | -€3,421 | -1.6% |
| Amounts payable | 17/49 | €1,338,267 | €1,372,817 | +€34,550 | +2.6% |
| Amounts payable after more than one year | 17 | €1,196,644 | €1,182,242 | -€14,402 | -1.2% |
| Financial debts | 170/4 | €1,196,644 | €1,182,242 | -€14,402 | -1.2% |
| Amounts payable within one year | 42/48 | €102,768 | €112,752 | +€9,984 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €35,554 | €36,098 | +€544 | +1.5% |
| Trade debts | 44 | €554 | €409 | -€145 | -26.2% |
| Suppliers | 440/4 | €554 | €409 | -€145 | -26.2% |
| Taxes, remuneration and social security | 45 | €8,397 | €9,184 | +€787 | +9.4% |
| Taxes | 450/3 | €8,397 | €9,184 | +€787 | +9.4% |
| Other amounts payable | 47/48 | €58,263 | €67,061 | +€8,798 | +15.1% |
| Accrued charges and deferred income | 492/3 | €38,855 | €77,823 | +€38,968 | +100.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31 | €4 | -€27 | -87.1% |
| Other operating charges | 640/8 | €227 | €169 | -€58 | -25.6% |
| Gross operating margin | 9900 | €50,678 | €43,465 | -€7,213 | -14.2% |
| Operating profit (loss) | 9901 | €50,420 | €43,292 | -€7,128 | -14.1% |
| Financial charges | 65/66B | €44,783 | €46,713 | +€1,930 | +4.3% |
| Recurring financial charges | 65 | €44,783 | €46,713 | +€1,930 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €5,637 | -€3,421 | -€9,058 | |
| Profit (loss) for the period | 9904 | €5,637 | -€3,421 | -€9,058 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,637 | -€3,421 | -€9,058 |
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.