Didier 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.
Didier BEKAERT
Largest movements
- Current investments -€39,977
down €39,977 (-53.3%), from €75,000 to €35,023
- Receivables within one year -€20,932
down €20,932 (-36.3%), from €57,703 to €36,771
of which Other amounts receivable: -€15,372
- Cash +€14,329
up €14,329 (+44.3%), from €32,379 to €46,708
mainly Current investments (+€39,977) and Receivables within one year (+€20,932)
- Deferred charges and accrued income +€2,516
up €2,516 (+55.0%), from €4,571 to €7,086
- Reserves -€34,625
down €34,625 (-28.4%), from €121,946 to €87,320
- Tax, wage and social debts -€7,508
down €7,508 (-21.9%), from €34,351 to €26,842
of which Remuneration and social security: -€4,338
- Trade debts -€3,443
down €3,443 (-49.9%), from €6,901 to €3,458
- Gross operating margin -€61,785
down €61,785 (-43.9%), from €140,761 to €78,976
- Taxes -€17,116
down €17,116 (-81.3%), from €21,063 to €3,947
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 | €175,597 | €130,021 | -€45,577 | -26.0% |
| Fixed assets | 21/28 | €5,945 | €4,432 | -€1,513 | -25.5% |
| Tangible fixed assets | 22/27 | €5,945 | €4,432 | -€1,513 | -25.5% |
| Plant, machinery and equipment | 23 | €2,096 | €1,402 | -€695 | -33.1% |
| Furniture and vehicles | 24 | €572 | €149 | -€423 | -73.9% |
| Leasing and similar rights | 25 | €3,277 | €2,881 | -€396 | -12.1% |
| Current assets | 29/58 | €169,652 | €125,589 | -€44,063 | -26.0% |
| Amounts receivable within one year | 40/41 | €57,703 | €36,771 | -€20,932 | -36.3% |
| Trade receivables | 40 | €5,559 | €0 | -€5,559 | -100.0% |
| Other amounts receivable | 41 | €52,143 | €36,771 | -€15,372 | -29.5% |
| Current investments | 50/53 | €75,000 | €35,023 | -€39,977 | -53.3% |
| Cash at bank and in hand | 54/58 | €32,379 | €46,708 | +€14,329 | +44.3% |
| Deferred charges and accrued income | 490/1 | €4,571 | €7,086 | +€2,516 | +55.0% |
| Total equity and liabilities | 10/49 | €175,597 | €130,021 | -€45,577 | -26.0% |
| Equity | 10/15 | €134,346 | €99,720 | -€34,625 | -25.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €121,946 | €87,320 | -€34,625 | -28.4% |
| Distributable reserves | 133 | €121,946 | €87,320 | -€34,625 | -28.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €41,252 | €30,300 | -€10,951 | -26.5% |
| Amounts payable within one year | 42/48 | €41,252 | €30,300 | -€10,951 | -26.5% |
| Trade debts | 44 | €6,901 | €3,458 | -€3,443 | -49.9% |
| Suppliers | 440/4 | €6,901 | €3,458 | -€3,443 | -49.9% |
| Taxes, remuneration and social security | 45 | €34,351 | €26,842 | -€7,508 | -21.9% |
| Taxes | 450/3 | €16,134 | €12,964 | -€3,171 | -19.7% |
| Remuneration and social security | 454/9 | €18,216 | €13,879 | -€4,338 | -23.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €5,850 | +€5,850 | |
| Remuneration, social security and pensions | 62 | €68,398 | €68,102 | -€295 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,720 | €2,587 | -€133 | -4.9% |
| Other operating charges | 640/8 | €1,718 | €1,760 | +€42 | +2.4% |
| Gross operating margin | 9900 | €140,761 | €78,976 | -€61,785 | -43.9% |
| Operating profit (loss) | 9901 | €67,925 | €6,527 | -€61,398 | -90.4% |
| Financial income | 75/76B | €1,630 | €2,380 | +€750 | +46.0% |
| Recurring financial income | 75 | €1,630 | €2,380 | +€750 | +46.0% |
| Financial charges | 65/66B | €69 | €146 | +€77 | +111.0% |
| Recurring financial charges | 65 | €69 | €146 | +€77 | +111.0% |
| Profit (loss) for the period before taxes | 9903 | €69,487 | €8,762 | -€60,725 | -87.4% |
| Income taxes | 67/77 | €21,063 | €3,947 | -€17,116 | -81.3% |
| Profit (loss) for the period | 9904 | €48,424 | €4,815 | -€43,609 | -90.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,424 | €4,815 | -€43,609 | -90.1% |
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 5 October 2026 via checked.be.