Credit Analytics BENELUX: 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.
Credit Analytics BENELUX
Largest movements
- Cash -€65,077
down €65,077 (-36.3%), from €179,250 to €114,173
mainly Debts after one year (-€57,957) and Contributions, distributions and other (-€45,000)
- Tangible fixed assets -€38,842
down €38,842 (-3.6%), from €1.1m to €1.1m
of which Land and buildings: -€26,303
- Receivables within one year -€31,724
down €31,724 (-93.5%), from €33,945 to €2,221
of which Trade receivables: -€31,076
- Debts after one year -€57,957
down €57,957 (-8.0%), from €726,855 to €668,898
- Reserves -€54,430
down €54,430 (-10.8%), from €504,179 to €449,749
of which Distributable reserves: -€54,430
- Other debts -€16,451
down €16,451 (-89.3%), from €18,430 to €1,979
- Gross operating margin -€250,525
down €250,525 (-83.7%), from €299,302 to €48,777
- Taxes -€55,108
down €55,108 (-99.6%), from €55,337 to €228
- Depreciation -€3,460
down €3,460 (-7.8%), from €44,097 to €40,637
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 | €1,335,232 | €1,194,007 | -€141,225 | -10.6% |
| Fixed assets | 21/28 | €1,092,517 | €1,053,675 | -€38,842 | -3.6% |
| Tangible fixed assets | 22/27 | €1,092,517 | €1,053,675 | -€38,842 | -3.6% |
| Land and buildings | 22 | €1,014,216 | €987,913 | -€26,303 | -2.6% |
| Plant, machinery and equipment | 23 | €57,823 | €49,154 | -€8,669 | -15.0% |
| Furniture and vehicles | 24 | €8,469 | €6,262 | -€2,207 | -26.1% |
| Other tangible fixed assets | 26 | €12,009 | €10,347 | -€1,663 | -13.8% |
| Current assets | 29/58 | €242,715 | €140,331 | -€102,383 | -42.2% |
| Amounts receivable within one year | 40/41 | €33,945 | €2,221 | -€31,724 | -93.5% |
| Trade receivables | 40 | €33,296 | €2,221 | -€31,076 | -93.3% |
| Other amounts receivable | 41 | €648 | €0 | -€648 | -100% |
| Cash at bank and in hand | 54/58 | €179,250 | €114,173 | -€65,077 | -36.3% |
| Deferred charges and accrued income | 490/1 | €29,520 | €23,937 | -€5,583 | -18.9% |
| Total equity and liabilities | 10/49 | €1,335,232 | €1,194,007 | -€141,225 | -10.6% |
| Equity | 10/15 | €509,179 | €454,749 | -€54,430 | -10.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €504,179 | €449,749 | -€54,430 | -10.8% |
| Tax-exempt reserves | 132 | €136,825 | €136,825 | = | 0.0% |
| Distributable reserves | 133 | €367,354 | €312,924 | -€54,430 | -14.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €826,053 | €739,258 | -€86,795 | -10.5% |
| Amounts payable after more than one year | 17 | €726,855 | €668,898 | -€57,957 | -8.0% |
| Financial debts | 170/4 | €726,855 | €668,898 | -€57,957 | -8.0% |
| Amounts payable within one year | 42/48 | €96,803 | €69,660 | -€27,143 | -28.0% |
| Current portion of amounts payable after more than one year | 42 | €56,853 | €57,957 | +€1,104 | +1.9% |
| Trade debts | 44 | €7,419 | €2,127 | -€5,291 | -71.3% |
| Suppliers | 440/4 | €7,419 | €2,127 | -€5,291 | -71.3% |
| Taxes, remuneration and social security | 45 | €14,101 | €7,596 | -€6,505 | -46.1% |
| Taxes | 450/3 | €13,101 | €6,596 | -€6,505 | -49.7% |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €18,430 | €1,979 | -€16,451 | -89.3% |
| Accrued charges and deferred income | 492/3 | €2,395 | €700 | -€1,695 | -70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,097 | €40,637 | -€3,460 | -7.8% |
| Other operating charges | 640/8 | €2,522 | €3,571 | +€1,048 | +41.6% |
| Gross operating margin | 9900 | €299,302 | €48,777 | -€250,525 | -83.7% |
| Operating profit (loss) | 9901 | €252,683 | €4,570 | -€248,113 | -98.2% |
| Financial income | 75/76B | €56 | €1,908 | +€1,852 | +3,320% |
| Recurring financial income | 75 | €56 | €1,908 | +€1,852 | +3,320% |
| Financial charges | 65/66B | €15,975 | €15,680 | -€295 | -1.8% |
| Recurring financial charges | 65 | €15,975 | €15,680 | -€295 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €236,763 | -€9,202 | -€245,965 | |
| Income taxes | 67/77 | €55,337 | €228 | -€55,108 | -99.6% |
| Profit (loss) for the period | 9904 | €181,427 | -€9,430 | -€190,857 | |
| Transfer to tax-exempt reserves | 689 | €73,675 | €0 | -€73,675 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €107,752 | -€9,430 | -€117,182 |
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 26 October 2026 via checked.be.