BEWATCH: 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.
What changed
BEWATCH
NACE 47.120, Other non-specialised retail sale
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€20,282
2024 · €2,439+€17,843
Equity
€200,846
2024 · €180,564+€20,282
Cash
€31,590
2024 · €70,478-€38,888
Balance sheet total
€5.2m
2024 · €4.4m+€818,469
Largest movements
Assets
- Receivables within one year +€988,838
up €988,838 (+41.7%), from €2.4m to €3.4m
of which Trade receivables: +€868,870
- Stocks and contracts -€95,801
down €95,801 (-5.1%), from €1.9m to €1.8m
Equity and liabilities
- Trade debts +€874,212
up €874,212 (+31.5%), from €2.8m to €3.6m
- Debts after one year -€150,000
down €150,000 (-14.7%), from €1.0m to €870,000
- Tax, wage and social debts +€89,788
up €89,788 (+21.6%), from €416,233 to €506,021
Income statement
- Write-downs +€496,763
new in 2025: €496,763
- Gross operating margin +€482,029
up €482,029 (+153.3%), from €314,428 to €796,458
- Financial charges -€35,985
down €35,985 (-13.4%), from €267,746 to €231,761
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.
Result 2024
€2,439
Gross operating margin
+€482,029
Depreciation
-€3,734
Write-downs
-€496,763
Other operating charges
-€55
Other operating items
+€69
Financial income
+€311
Financial charges
+€35,985
Result 2025
€20,282
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.
From operations
+€135,880
Investment
-€14,600
Financing
-€160,168
Cash 2024
€70,478
From operations (derived)
+€135,880
Net result for the year
+€20,282
Depreciation
+€45,443
Stocks and contracts
+€95,801
Receivables within one year
-€988,838
Deferred charges and accrued income
+€4,836
Trade debts
+€874,212
Tax, wage and social debts
+€89,788
Other debts
-€2,257
Accrued charges and deferred income
-€3,389
Investment (derived)
-€14,600
Investment in fixed assets (net)
-€14,600
Financing
-€160,168
Debts after one year
-€150,000
Short-term financial debts
-€10,168
Cash 2025
€31,590
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,411,108 | €5,229,577 | +€818,469 | +18.6% |
| Fixed assets | 21/28 | €79,405 | €48,561 | -€30,843 | -38.8% |
| Intangible fixed assets | 21 | €79,405 | €48,561 | -€30,843 | -38.8% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €4,331,703 | €5,181,015 | +€849,312 | +19.6% |
| Stocks and contracts in progress | 3 | €1,877,353 | €1,781,552 | -€95,801 | -5.1% |
| Stocks | 30/36 | €1,877,353 | €1,781,552 | -€95,801 | -5.1% |
| Amounts receivable within one year | 40/41 | €2,373,591 | €3,362,428 | +€988,838 | +41.7% |
| Trade receivables | 40 | €1,827,468 | €2,696,338 | +€868,870 | +47.5% |
| Other amounts receivable | 41 | €546,123 | €666,090 | +€119,968 | +22.0% |
| Cash at bank and in hand | 54/58 | €70,478 | €31,590 | -€38,888 | -55.2% |
| Deferred charges and accrued income | 490/1 | €10,281 | €5,445 | -€4,836 | -47.0% |
| Total equity and liabilities | 10/49 | €4,411,108 | €5,229,577 | +€818,469 | +18.6% |
| Equity | 10/15 | €180,564 | €200,846 | +€20,282 | +11.2% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €1,670 | €1,670 | = | 0.0% |
| Distributable reserves | 133 | €1,670 | €1,670 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,106 | -€824 | +€20,282 | +96.1% |
| Amounts payable | 17/49 | €4,230,544 | €5,028,731 | +€798,186 | +18.9% |
| Amounts payable after more than one year | 17 | €1,020,000 | €870,000 | -€150,000 | -14.7% |
| Financial debts | 170/4 | €1,020,000 | €870,000 | -€150,000 | -14.7% |
| Amounts payable within one year | 42/48 | €3,206,913 | €4,158,489 | +€951,576 | +29.7% |
| Financial debts | 43 | €10,168 | €0 | -€10,168 | -100.0% |
| Other loans | 439 | €10,168 | €0 | -€10,168 | -100.0% |
| Trade debts | 44 | €2,775,530 | €3,649,742 | +€874,212 | +31.5% |
| Suppliers | 440/4 | €2,775,530 | €3,649,742 | +€874,212 | +31.5% |
| Taxes, remuneration and social security | 45 | €416,233 | €506,021 | +€89,788 | +21.6% |
| Taxes | 450/3 | €416,233 | €506,021 | +€89,788 | +21.6% |
| Other amounts payable | 47/48 | €4,983 | €2,726 | -€2,257 | -45.3% |
| Accrued charges and deferred income | 492/3 | €3,631 | €242 | -€3,389 | -93.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,709 | €45,443 | +€3,734 | +9.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €496,763 | +€496,763 | |
| Other operating charges | 640/8 | €2,689 | €2,744 | +€55 | +2.0% |
| Non-recurring operating charges | 66A | €69 | - | -€69 | |
| Gross operating margin | 9900 | €314,428 | €796,458 | +€482,029 | +153.3% |
| Operating profit (loss) | 9901 | €269,961 | €251,508 | -€18,453 | -6.8% |
| Financial income | 75/76B | €224 | €535 | +€311 | +139.0% |
| Recurring financial income | 75 | €224 | €535 | +€311 | +139.0% |
| Financial charges | 65/66B | €267,746 | €231,761 | -€35,985 | -13.4% |
| Recurring financial charges | 65 | €267,746 | €231,761 | -€35,985 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €2,439 | €20,282 | +€17,843 | +731.5% |
| Profit (loss) for the period | 9904 | €2,439 | €20,282 | +€17,843 | +731.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,439 | €20,282 | +€17,843 | +731.5% |
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.