E- BEX: 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.
E- BEX
Largest movements
- Receivables within one year -€152,133
down €152,133 (-44.6%), from €341,166 to €189,033
of which Trade receivables: -€111,422
- Cash +€145,984
up €145,984 (+51.9%), from €281,488 to €427,472
mainly Net result for the year (+€236,698) and Receivables within one year (+€152,133)
- Tangible fixed assets -€14,966
down €14,966 (-28.2%), from €53,077 to €38,111
of which Other tangible fixed assets: -€8,760
- Trade debts -€46,107
down €46,107 (-17.0%), from €271,920 to €225,813
- Profit (loss) carried forward +€31,132
up €31,132 (+25.5%), from €122,015 to €153,147
- Accrued charges and deferred income +€15,733
up €15,733 (+28.6%), from €55,086 to €70,818
- Current portion of long-term debt -€10,104
down €10,104 (-100.0%), from €10,104 to €0
- Staff costs +€16,810
up €16,810 (+4.0%), from €425,377 to €442,186
- Depreciation +€11,425
up €11,425 (+33.6%), from €33,961 to €45,386
- Taxes -€10,394
down €10,394 (-11.1%), from €93,248 to €82,854
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 | €792,815 | €774,123 | -€18,692 | -2.4% |
| Fixed assets | 21/28 | €109,847 | €95,713 | -€14,134 | -12.9% |
| Intangible fixed assets | 21 | €56,590 | €57,422 | +€832 | +1.5% |
| Tangible fixed assets | 22/27 | €53,077 | €38,111 | -€14,966 | -28.2% |
| Land and buildings | 22 | - | €0 | = | |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €14,427 | €8,221 | -€6,206 | -43.0% |
| Other tangible fixed assets | 26 | €38,650 | €29,890 | -€8,760 | -22.7% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €682,968 | €678,410 | -€4,558 | -0.7% |
| Stocks and contracts in progress | 3 | €52,851 | €52,592 | -€259 | -0.5% |
| Contracts in progress | 37 | €52,851 | €52,592 | -€259 | -0.5% |
| Amounts receivable within one year | 40/41 | €341,166 | €189,033 | -€152,133 | -44.6% |
| Trade receivables | 40 | €263,492 | €152,070 | -€111,422 | -42.3% |
| Other amounts receivable | 41 | €77,674 | €36,963 | -€40,711 | -52.4% |
| Cash at bank and in hand | 54/58 | €281,488 | €427,472 | +€145,984 | +51.9% |
| Deferred charges and accrued income | 490/1 | €7,464 | €9,313 | +€1,850 | +24.8% |
| Total equity and liabilities | 10/49 | €792,815 | €774,123 | -€18,692 | -2.4% |
| Equity | 10/15 | €190,325 | €221,457 | +€31,132 | +16.4% |
| Contributions | 10/11 | €62,100 | €62,100 | = | 0.0% |
| Reserves | 13 | €6,210 | €6,210 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,210 | €6,210 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,210 | €6,210 | = | 0.0% |
| Profit (loss) carried forward | 14 | €122,015 | €153,147 | +€31,132 | +25.5% |
| Amounts payable | 17/49 | €602,490 | €552,666 | -€49,824 | -8.3% |
| Amounts payable within one year | 42/48 | €547,404 | €481,848 | -€65,557 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €10,104 | €0 | -€10,104 | -100.0% |
| Trade debts | 44 | €271,920 | €225,813 | -€46,107 | -17.0% |
| Suppliers | 440/4 | €271,920 | €225,813 | -€46,107 | -17.0% |
| Taxes, remuneration and social security | 45 | €58,021 | €50,469 | -€7,553 | -13.0% |
| Taxes | 450/3 | €808 | €0 | -€808 | -100.0% |
| Remuneration and social security | 454/9 | €57,213 | €50,469 | -€6,745 | -11.8% |
| Other amounts payable | 47/48 | €207,359 | €205,566 | -€1,793 | -0.9% |
| Accrued charges and deferred income | 492/3 | €55,086 | €70,818 | +€15,733 | +28.6% |
| Remuneration, social security and pensions | 62 | €425,377 | €442,186 | +€16,810 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,961 | €45,386 | +€11,425 | +33.6% |
| Other operating charges | 640/8 | €3,486 | €6,216 | +€2,730 | +78.3% |
| Gross operating margin | 9900 | €811,843 | €812,106 | +€263 | 0.0% |
| Operating profit (loss) | 9901 | €349,018 | €318,317 | -€30,702 | -8.8% |
| Financial income | 75/76B | €5,419 | €2,374 | -€3,045 | -56.2% |
| Recurring financial income | 75 | €5,419 | €2,374 | -€3,045 | -56.2% |
| Financial charges | 65/66B | €1,532 | €1,138 | -€393 | -25.7% |
| Recurring financial charges | 65 | €1,532 | €1,138 | -€393 | -25.7% |
| Profit (loss) for the period before taxes | 9903 | €352,905 | €319,552 | -€33,353 | -9.5% |
| Income taxes | 67/77 | €93,248 | €82,854 | -€10,394 | -11.1% |
| Profit (loss) for the period | 9904 | €259,657 | €236,698 | -€22,959 | -8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €259,657 | €236,698 | -€22,959 | -8.8% |
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 6 October 2026 via checked.be.