BIENFAIT PHILIPPE: 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.
BIENFAIT PHILIPPE
Largest movements
- Tangible fixed assets -€80,600
down €80,600 (-12.9%), from €625,881 to €545,281
of which Plant, machinery and equipment: -€54,062
- Receivables within one year -€15,880
down €15,880 (-15.9%), from €100,162 to €84,282
of which Trade receivables: -€15,880
- Cash +€15,182
up €15,182 (+40.2%), from €37,738 to €52,920
mainly Depreciation (+€89,992) and Receivables within one year (+€15,880)
- Stocks and contracts +€9,290
up €9,290 (+226%), from €4,117 to €13,407
- Profit (loss) carried forward -€31,714
down €31,714 (-11.6%), from -€273,726 to -€305,439
- Debts after one year -€31,506
down €31,506 (-29.4%), from €107,033 to €75,527
- Other debts -€18,284
down €18,284 (-3.0%), from €619,139 to €600,855
- Trade debts +€13,106
up €13,106 (+54.3%), from €24,153 to €37,259
- Depreciation +€8,713
up €8,713 (+10.7%), from €81,279 to €89,992
- Gross operating margin +€5,414
up €5,414 (+9.0%), from €59,989 to €65,403
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.
Derived cash bridge
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 | €772,042 | €705,085 | -€66,957 | -8.7% |
| Fixed assets | 21/28 | €625,881 | €545,281 | -€80,600 | -12.9% |
| Tangible fixed assets | 22/27 | €625,881 | €545,281 | -€80,600 | -12.9% |
| Land and buildings | 22 | €371,361 | €343,815 | -€27,546 | -7.4% |
| Plant, machinery and equipment | 23 | €253,845 | €199,783 | -€54,062 | -21.3% |
| Furniture and vehicles | 24 | €675 | €1,683 | +€1,008 | +149% |
| Current assets | 29/58 | €146,161 | €159,804 | +€13,643 | +9.3% |
| Stocks and contracts in progress | 3 | €4,117 | €13,407 | +€9,290 | +226% |
| Stocks | 30/36 | €4,117 | €13,407 | +€9,290 | +226% |
| Amounts receivable within one year | 40/41 | €100,162 | €84,282 | -€15,880 | -15.9% |
| Trade receivables | 40 | €99,752 | €83,873 | -€15,880 | -15.9% |
| Other amounts receivable | 41 | €410 | €410 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €37,738 | €52,920 | +€15,182 | +40.2% |
| Deferred charges and accrued income | 490/1 | €4,144 | €9,195 | +€5,050 | +122% |
| Total equity and liabilities | 10/49 | €772,042 | €705,085 | -€66,957 | -8.7% |
| Equity | 10/15 | -€16,526 | -€48,239 | -€31,714 | -192% |
| Contributions | 10/11 | €257,200 | €257,200 | = | 0.0% |
| Capital | 10 | €257,200 | €257,200 | = | 0.0% |
| Issued capital | 100 | €257,200 | €257,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€273,726 | -€305,439 | -€31,714 | -11.6% |
| Amounts payable | 17/49 | €788,567 | €753,324 | -€35,243 | -4.5% |
| Amounts payable after more than one year | 17 | €107,033 | €75,527 | -€31,506 | -29.4% |
| Financial debts | 170/4 | €107,033 | €75,527 | -€31,506 | -29.4% |
| Amounts payable within one year | 42/48 | €681,534 | €677,797 | -€3,737 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €35,200 | €37,533 | +€2,333 | +6.6% |
| Trade debts | 44 | €24,153 | €37,259 | +€13,106 | +54.3% |
| Suppliers | 440/4 | €24,153 | €37,259 | +€13,106 | +54.3% |
| Taxes, remuneration and social security | 45 | €3,042 | €2,149 | -€893 | -29.3% |
| Taxes | 450/3 | €3,042 | €2,149 | -€893 | -29.3% |
| Other amounts payable | 47/48 | €619,139 | €600,855 | -€18,284 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,279 | €89,992 | +€8,713 | +10.7% |
| Other operating charges | 640/8 | €1,128 | €1,009 | -€119 | -10.6% |
| Gross operating margin | 9900 | €59,989 | €65,403 | +€5,414 | +9.0% |
| Operating profit (loss) | 9901 | -€22,418 | -€25,598 | -€3,180 | -14.2% |
| Financial income | 75/76B | €31 | €45 | +€14 | +46.7% |
| Recurring financial income | 75 | €31 | €45 | +€14 | +46.7% |
| Financial charges | 65/66B | €6,029 | €6,161 | +€132 | +2.2% |
| Recurring financial charges | 65 | €6,029 | €6,161 | +€132 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | -€28,416 | -€31,714 | -€3,297 | -11.6% |
| Profit (loss) for the period | 9904 | -€28,416 | -€31,714 | -€3,297 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,416 | -€31,714 | -€3,297 | -11.6% |
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 14 October 2026 via checked.be.