BIEFAST: 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.
BIEFAST
Largest movements
- Tangible fixed assets +€5.2m
up €5.2m (+125.3%), from €4.2m to €9.4m
of which Assets under construction and advance payments: +€5.2m
- Receivables within one year -€605,632
down €605,632 (-93.3%), from €649,196 to €43,563
of which Other amounts receivable: -€590,156
- Short-term financial debts +€2.0m
new in 2025: €2.0m
- Debts after one year +€1.4m
up €1.4m (+1649.8%), from €83,704 to €1.5m
- Other debts +€839,848
up €839,848, from €0 to €839,848
- Trade debts +€406,968
up €406,968 (+1291.6%), from €31,508 to €438,476
- Gross operating margin -€28,503
down €28,503, from €4,823 to -€23,680
- Other operating charges -€22,118
down €22,118 (-83.7%), from €26,440 to €4,322
- Financial income -€10,196
down €10,196 (-78.9%), from €12,925 to €2,728
- Financial charges -€1,625
down €1,625 (-29.4%), from €5,536 to €3,910
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 | €4,867,353 | €9,459,461 | +€4.6m | +94.3% |
| Fixed assets | 21/28 | €4,164,116 | €9,382,948 | +€5.2m | +125.3% |
| Tangible fixed assets | 22/27 | €4,164,116 | €9,382,948 | +€5.2m | +125.3% |
| Land and buildings | 22 | €2,964,000 | €2,964,000 | = | 0.0% |
| Assets under construction and advance payments | 27 | €1,200,116 | €6,418,948 | +€5.2m | +434.9% |
| Current assets | 29/58 | €703,237 | €76,512 | -€626,725 | -89.1% |
| Amounts receivable within one year | 40/41 | €649,196 | €43,563 | -€605,632 | -93.3% |
| Trade receivables | 40 | €15,476 | €0 | -€15,476 | -100.0% |
| Other amounts receivable | 41 | €633,719 | €43,563 | -€590,156 | -93.1% |
| Cash at bank and in hand | 54/58 | €54,041 | €32,949 | -€21,092 | -39.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €4,867,353 | €9,459,461 | +€4.6m | +94.3% |
| Equity | 10/15 | €3,087,002 | €3,057,818 | -€29,184 | -0.9% |
| Contributions | 10/11 | €282,091 | €282,091 | = | 0.0% |
| Capital | 10 | €282,091 | €282,091 | = | 0.0% |
| Issued capital | 100 | €282,091 | €282,091 | = | 0.0% |
| Revaluation surpluses | 12 | €2,676,510 | €2,676,510 | = | 0.0% |
| Reserves | 13 | €128,401 | €99,217 | -€29,184 | -22.7% |
| Non-distributable reserves | 130/1 | €28,209 | €28,209 | = | 0.0% |
| Legal reserve | 130 | €28,209 | €28,209 | = | 0.0% |
| Distributable reserves | 133 | €100,192 | €71,008 | -€29,184 | -29.1% |
| Amounts payable | 17/49 | €1,780,351 | €6,401,642 | +€4.6m | +259.6% |
| Amounts payable after more than one year | 17 | €83,704 | €1,464,614 | +€1.4m | +1649.8% |
| Financial debts | 170/4 | €83,704 | €1,464,614 | +€1.4m | +1649.8% |
| Amounts payable within one year | 42/48 | €121,647 | €3,362,028 | +€3.2m | +2663.8% |
| Current portion of amounts payable after more than one year | 42 | €90,138 | €83,704 | -€6,434 | -7.1% |
| Financial debts | 43 | - | €2,000,000 | +€2.0m | |
| Credit institutions | 430/8 | - | €2,000,000 | +€2.0m | |
| Trade debts | 44 | €31,508 | €438,476 | +€406,968 | +1291.6% |
| Suppliers | 440/4 | €31,508 | €438,476 | +€406,968 | +1291.6% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €839,848 | +€839,848 | |
| Accrued charges and deferred income | 492/3 | €1,575,000 | €1,575,000 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €26,440 | €4,322 | -€22,118 | -83.7% |
| Non-recurring operating charges | 66A | €193,905 | €0 | -€193,905 | -100.0% |
| Gross operating margin | 9900 | €4,823 | -€23,680 | -€28,503 | |
| Operating profit (loss) | 9901 | -€215,522 | -€28,002 | +€187,520 | +87.0% |
| Financial income | 75/76B | €12,925 | €2,728 | -€10,196 | -78.9% |
| Recurring financial income | 75 | €12,925 | €2,728 | -€10,196 | -78.9% |
| Financial charges | 65/66B | €5,536 | €3,910 | -€1,625 | -29.4% |
| Recurring financial charges | 65 | €5,536 | €3,910 | -€1,625 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | -€208,133 | -€29,184 | +€178,949 | +86.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€208,133 | -€29,184 | +€178,949 | +86.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€208,133 | -€29,184 | +€178,949 | +86.0% |
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 4 October 2026 via checked.be.