C. BEKAERT: 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.
C. BEKAERT
Largest movements
- Tangible fixed assets +€204,373
new in 2025: €204,373
- Cash +€70,487
up €70,487 (+107.2%), from €65,730 to €136,217
mainly Other debts (+€352,816) and Net result for the year (+€224,318)
- Receivables within one year +€62,336
new in 2025: €62,336
of which Trade receivables: +€47,469
- Current investments -€50,000
down €50,000 (-14.3%), from €350,000 to €300,000
- Deferred charges and accrued income -€36,391
down €36,391 (-99.7%), from €36,500 to €109
- Other debts +€352,816
up €352,816 (+6116.2%), from €5,769 to €358,585
- Reserves -€325,005
down €325,005 (-95.6%), from €340,005 to €15,000
- Debts after one year +€223,834
new in 2025: €223,834
- Gross operating margin -€17,194
down €17,194 (-5.4%), from €320,689 to €303,494
- Taxes -€15,323
down €15,323 (-18.3%), from €83,699 to €68,376
- Other operating charges +€9,547
up €9,547 (+1694.8%), from €563 to €10,111
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 | €452,231 | €703,035 | +€250,804 | +55.5% |
| Fixed assets | 21/28 | - | €204,373 | +€204,373 | |
| Tangible fixed assets | 22/27 | - | €204,373 | +€204,373 | |
| Land and buildings | 22 | - | €204,373 | +€204,373 | |
| Current assets | 29/58 | €452,231 | €498,662 | +€46,431 | +10.3% |
| Amounts receivable within one year | 40/41 | - | €62,336 | +€62,336 | |
| Trade receivables | 40 | - | €47,469 | +€47,469 | |
| Other amounts receivable | 41 | - | €14,866 | +€14,866 | |
| Current investments | 50/53 | €350,000 | €300,000 | -€50,000 | -14.3% |
| Cash at bank and in hand | 54/58 | €65,730 | €136,217 | +€70,487 | +107.2% |
| Deferred charges and accrued income | 490/1 | €36,500 | €109 | -€36,391 | -99.7% |
| Total equity and liabilities | 10/49 | €452,231 | €703,035 | +€250,804 | +55.5% |
| Equity | 10/15 | €361,269 | €35,581 | -€325,688 | -90.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €340,005 | €15,000 | -€325,005 | -95.6% |
| Distributable reserves | 133 | €340,005 | €15,000 | -€325,005 | -95.6% |
| Profit (loss) carried forward | 14 | €804 | €121 | -€683 | -84.9% |
| Amounts payable | 17/49 | €90,962 | €667,454 | +€576,492 | +633.8% |
| Amounts payable after more than one year | 17 | - | €223,834 | +€223,834 | |
| Financial debts | 170/4 | - | €223,834 | +€223,834 | |
| Amounts payable within one year | 42/48 | €90,962 | €443,620 | +€352,658 | +387.7% |
| Trade debts | 44 | €1,494 | €1,336 | -€158 | -10.6% |
| Suppliers | 440/4 | €1,494 | €1,336 | -€158 | -10.6% |
| Taxes, remuneration and social security | 45 | €83,699 | €83,699 | = | 0.0% |
| Taxes | 450/3 | €83,699 | €83,699 | = | 0.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,769 | €358,585 | +€352,816 | +6116.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,547 | +€1,547 | |
| Other operating charges | 640/8 | €563 | €10,111 | +€9,547 | +1694.8% |
| Gross operating margin | 9900 | €320,689 | €303,494 | -€17,194 | -5.4% |
| Operating profit (loss) | 9901 | €320,125 | €291,837 | -€28,289 | -8.8% |
| Financial income | 75/76B | €4,026 | €4,141 | +€114 | +2.8% |
| Recurring financial income | 75 | €4,026 | €4,141 | +€114 | +2.8% |
| Financial charges | 65/66B | €244 | €3,284 | +€3,040 | +1246.5% |
| Recurring financial charges | 65 | €244 | €3,284 | +€3,040 | +1246.5% |
| Profit (loss) for the period before taxes | 9903 | €323,908 | €292,693 | -€31,214 | -9.6% |
| Income taxes | 67/77 | €83,699 | €68,376 | -€15,323 | -18.3% |
| Profit (loss) for the period | 9904 | €240,209 | €224,318 | -€15,891 | -6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €240,209 | €224,318 | -€15,891 | -6.6% |
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.