BEX: 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.
BEX
Largest movements
- Tangible fixed assets -€61,991
down €61,991 (-12.3%), from €504,332 to €442,341
of which Land and buildings: -€43,030
- Cash +€44,959
up €44,959 (+206.5%), from €21,774 to €66,733
mainly Net result for the year (+€98,842) and Depreciation (+€80,488)
- Receivables within one year +€31,219
up €31,219 (+107.5%), from €29,034 to €60,252
of which Other amounts receivable: +€32,383
- Other debts +€60,500
up €60,500 (+159.2%), from €38,000 to €98,500
- Debts after one year -€49,865
down €49,865 (-17.8%), from €280,222 to €230,357
- Gross operating margin +€73,817
up €73,817 (+45.3%), from €162,778 to €236,595
- Taxes +€22,711
up €22,711 (+106.8%), from €21,270 to €43,981
- Depreciation +€8,898
up €8,898 (+12.4%), from €71,590 to €80,488
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 | €723,297 | €738,139 | +€14,842 | +2.1% |
| Fixed assets | 21/28 | €504,332 | €442,341 | -€61,991 | -12.3% |
| Tangible fixed assets | 22/27 | €504,332 | €442,341 | -€61,991 | -12.3% |
| Land and buildings | 22 | €419,759 | €376,729 | -€43,030 | -10.3% |
| Plant, machinery and equipment | 23 | €30,823 | €27,668 | -€3,155 | -10.2% |
| Furniture and vehicles | 24 | €5,015 | €2,851 | -€2,164 | -43.1% |
| Leasing and similar rights | 25 | €45,636 | €31,994 | -€13,642 | -29.9% |
| Other tangible fixed assets | 26 | €3,099 | €3,099 | = | 0.0% |
| Current assets | 29/58 | €218,965 | €295,798 | +€76,832 | +35.1% |
| Amounts receivable after more than one year | 29 | €165,762 | €165,762 | = | 0.0% |
| Other amounts receivable | 291 | €165,762 | €165,762 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €29,034 | €60,252 | +€31,219 | +107.5% |
| Trade receivables | 40 | €5,970 | €4,805 | -€1,165 | -19.5% |
| Other amounts receivable | 41 | €23,064 | €55,448 | +€32,383 | +140.4% |
| Cash at bank and in hand | 54/58 | €21,774 | €66,733 | +€44,959 | +206.5% |
| Deferred charges and accrued income | 490/1 | €2,395 | €3,050 | +€654 | +27.3% |
| Total equity and liabilities | 10/49 | €723,297 | €738,139 | +€14,842 | +2.1% |
| Equity | 10/15 | €340,381 | €340,723 | +€342 | +0.1% |
| Reserves | 13 | €327,682 | €327,682 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,782 | €6,782 | = | 0.0% |
| Distributable reserves | 133 | €320,900 | €320,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,699 | €13,041 | +€342 | +2.7% |
| Amounts payable | 17/49 | €382,916 | €397,416 | +€14,499 | +3.8% |
| Amounts payable after more than one year | 17 | €280,222 | €230,357 | -€49,865 | -17.8% |
| Financial debts | 170/4 | €280,222 | €230,357 | -€49,865 | -17.8% |
| Amounts payable within one year | 42/48 | €101,994 | €166,359 | +€64,364 | +63.1% |
| Current portion of amounts payable after more than one year | 42 | €48,442 | €49,865 | +€1,423 | +2.9% |
| Trade debts | 44 | €6,328 | €5,074 | -€1,255 | -19.8% |
| Suppliers | 440/4 | €6,328 | €5,074 | -€1,255 | -19.8% |
| Taxes, remuneration and social security | 45 | €9,224 | €12,920 | +€3,696 | +40.1% |
| Taxes | 450/3 | €9,224 | €12,920 | +€3,696 | +40.1% |
| Other amounts payable | 47/48 | €38,000 | €98,500 | +€60,500 | +159.2% |
| Accrued charges and deferred income | 492/3 | €700 | €700 | = | 0.0% |
| Non-recurring operating income | 76A | €5,000 | €41,490 | +€36,490 | +729.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,590 | €80,488 | +€8,898 | +12.4% |
| Other operating charges | 640/8 | €7,040 | €7,611 | +€571 | +8.1% |
| Gross operating margin | 9900 | €162,778 | €236,595 | +€73,817 | +45.3% |
| Operating profit (loss) | 9901 | €84,149 | €148,496 | +€64,348 | +76.5% |
| Financial income | 75/76B | €4,907 | €4,939 | +€33 | +0.7% |
| Recurring financial income | 75 | €4,907 | €4,939 | +€33 | +0.7% |
| Financial charges | 65/66B | €11,341 | €10,612 | -€729 | -6.4% |
| Recurring financial charges | 65 | €11,341 | €10,612 | -€729 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €77,714 | €142,824 | +€65,110 | +83.8% |
| Income taxes | 67/77 | €21,270 | €43,981 | +€22,711 | +106.8% |
| Profit (loss) for the period | 9904 | €56,444 | €98,842 | +€42,398 | +75.1% |
| Profit (loss) for the period to be appropriated | 9905 | €56,444 | €98,842 | +€42,398 | +75.1% |
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 12 October 2026 via checked.be.