Cabinet Bede: 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.
Cabinet Bede
Largest movements
- Receivables within one year -€81,194
down €81,194 (-18.8%), from €432,391 to €351,197
of which Other amounts receivable: -€47,281
- Current investments -€66,667
down €66,667 (-66.7%), from €100,000 to €33,333
- Cash +€9,943
up €9,943 (+10.6%), from €94,165 to €104,108
mainly Receivables within one year (+€81,194) and Current investments (+€66,667)
- Profit (loss) carried forward -€142,039
down €142,039 (-40.3%), from €352,860 to €210,821
- Tax, wage and social debts +€9,760
up €9,760 (+58.9%), from €16,574 to €26,334
of which Remuneration and social security: +€7,386
- Accrued charges and deferred income -€7,041
down €7,041 (-93.3%), from €7,550 to €509
- Gross operating margin -€55,324
down €55,324 (-34.7%), from €159,296 to €103,972
- Staff costs -€30,128
down €30,128 (-11.4%), from €263,441 to €233,313
- Financial charges -€3,210
down €3,210 (-45.2%), from €7,105 to €3,895
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 | €676,130 | €539,254 | -€136,876 | -20.2% |
| Fixed assets | 21/28 | €38,168 | €43,898 | +€5,730 | +15.0% |
| Tangible fixed assets | 22/27 | €37,218 | €42,948 | +€5,730 | +15.4% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €35,108 | €26,386 | -€8,721 | -24.8% |
| Other tangible fixed assets | 26 | €2,110 | €16,562 | +€14,451 | +685% |
| Financial fixed assets | 28 | €950 | €950 | = | 0.0% |
| Current assets | 29/58 | €637,962 | €495,357 | -€142,606 | -22.4% |
| Amounts receivable within one year | 40/41 | €432,391 | €351,197 | -€81,194 | -18.8% |
| Trade receivables | 40 | €110,557 | €76,644 | -€33,914 | -30.7% |
| Other amounts receivable | 41 | €321,834 | €274,553 | -€47,281 | -14.7% |
| Current investments | 50/53 | €100,000 | €33,333 | -€66,667 | -66.7% |
| Cash at bank and in hand | 54/58 | €94,165 | €104,108 | +€9,943 | +10.6% |
| Deferred charges and accrued income | 490/1 | €11,406 | €6,718 | -€4,688 | -41.1% |
| Total equity and liabilities | 10/49 | €676,130 | €539,254 | -€136,876 | -20.2% |
| Equity | 10/15 | €479,899 | €337,860 | -€142,039 | -29.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €65,039 | €65,039 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €58,839 | €58,839 | = | 0.0% |
| Profit (loss) carried forward | 14 | €352,860 | €210,821 | -€142,039 | -40.3% |
| Amounts payable | 17/49 | €196,231 | €201,395 | +€5,163 | +2.6% |
| Amounts payable within one year | 42/48 | €188,682 | €200,886 | +€12,204 | +6.5% |
| Financial debts | 43 | - | €4,530 | +€4,530 | |
| Credit institutions | 430/8 | - | €4,530 | +€4,530 | |
| Trade debts | 44 | €169,698 | €166,852 | -€2,846 | -1.7% |
| Suppliers | 440/4 | €169,698 | €166,852 | -€2,846 | -1.7% |
| Taxes, remuneration and social security | 45 | €16,574 | €26,334 | +€9,760 | +58.9% |
| Taxes | 450/3 | €2,915 | €5,289 | +€2,373 | +81.4% |
| Remuneration and social security | 454/9 | €13,659 | €21,045 | +€7,386 | +54.1% |
| Other amounts payable | 47/48 | €2,410 | €3,170 | +€760 | +31.5% |
| Accrued charges and deferred income | 492/3 | €7,550 | €509 | -€7,041 | -93.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €263,441 | €233,313 | -€30,128 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,973 | €10,834 | -€139 | -1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,572 | €1,880 | +€308 | +19.6% |
| Other operating charges | 640/8 | €2,869 | €1,480 | -€1,389 | -48.4% |
| Gross operating margin | 9900 | €159,296 | €103,972 | -€55,324 | -34.7% |
| Operating profit (loss) | 9901 | -€119,558 | -€143,535 | -€23,976 | -20.1% |
| Financial income | 75/76B | €6,443 | €5,977 | -€466 | -7.2% |
| Recurring financial income | 75 | €6,443 | €5,977 | -€466 | -7.2% |
| Financial charges | 65/66B | €7,105 | €3,895 | -€3,210 | -45.2% |
| Recurring financial charges | 65 | €7,105 | €3,895 | -€3,210 | -45.2% |
| Profit (loss) for the period before taxes | 9903 | -€120,221 | -€141,452 | -€21,232 | -17.7% |
| Income taxes | 67/77 | €497 | €587 | +€90 | +18.1% |
| Profit (loss) for the period | 9904 | -€120,717 | -€142,039 | -€21,322 | -17.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€120,717 | -€142,039 | -€21,322 | -17.7% |
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 24 October 2026 via checked.be.