ENZO BEECKMAN: 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.
ENZO BEECKMAN
Largest movements
- Tangible fixed assets -€97,700
down €97,700 (-46.6%), from €209,660 to €111,961
of which Plant, machinery and equipment: -€81,656
- Receivables within one year +€28,876
up €28,876 (+72.4%), from €39,910 to €68,786
of which Other amounts receivable: +€55,910
- Cash +€6,576
up €6,576 (+156%), from €4,218 to €10,794
mainly Other debts (+€132,377) and Investment in fixed assets (net) (+€75,897)
- Financial fixed assets -€5,800
down €5,800 (-58.0%), from €10,000 to €4,200
- Other debts +€132,377
up €132,377, from €0 to €132,377
- Profit (loss) carried forward -€83,496
down €83,496 (-639%), from -€13,057 to -€96,553
- Trade debts -€56,564
down €56,564 (-73.0%), from €77,465 to €20,901
- Debts after one year -€55,269
down €55,269 (-41.6%), from €132,860 to €77,591
of which Financial debts: -€59,019
- Current portion of long-term debt -€17,893
down €17,893 (-42.1%), from €42,541 to €24,648
- Gross operating margin -€56,013
down €56,013, from €45,884 to -€10,129
- Staff costs -€30,215
down €30,215 (-99.8%), from €30,276 to €61
- Financial charges +€4,891
up €4,891 (+70.0%), from €6,985 to €11,876
- Depreciation -€906
down €906 (-3.2%), from €28,508 to €27,603
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 | €265,153 | €196,104 | -€69,049 | -26.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €219,660 | €116,161 | -€103,500 | -47.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €209,660 | €111,961 | -€97,700 | -46.6% |
| Plant, machinery and equipment | 23 | €184,371 | €102,715 | -€81,656 | -44.3% |
| Furniture and vehicles | 24 | €5,105 | €1,772 | -€3,333 | -65.3% |
| Other tangible fixed assets | 26 | €20,184 | €7,474 | -€12,711 | -63.0% |
| Financial fixed assets | 28 | €10,000 | €4,200 | -€5,800 | -58.0% |
| Current assets | 29/58 | €45,493 | €79,943 | +€34,450 | +75.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €39,910 | €68,786 | +€28,876 | +72.4% |
| Trade receivables | 40 | €37,920 | €10,886 | -€27,034 | -71.3% |
| Other amounts receivable | 41 | €1,990 | €57,900 | +€55,910 | +2,809% |
| Cash at bank and in hand | 54/58 | €4,218 | €10,794 | +€6,576 | +156% |
| Deferred charges and accrued income | 490/1 | €1,365 | €363 | -€1,002 | -73.4% |
| Total equity and liabilities | 10/49 | €265,153 | €196,104 | -€69,049 | -26.0% |
| Equity | 10/15 | -€10,057 | -€93,553 | -€83,496 | -830% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€13,057 | -€96,553 | -€83,496 | -639% |
| Amounts payable | 17/49 | €275,210 | €289,657 | +€14,447 | +5.2% |
| Amounts payable after more than one year | 17 | €132,860 | €77,591 | -€55,269 | -41.6% |
| Financial debts | 170/4 | €132,860 | €73,841 | -€59,019 | -44.4% |
| Other amounts payable | 178/9 | - | €3,750 | +€3,750 | |
| Amounts payable within one year | 42/48 | €137,742 | €199,515 | +€61,773 | +44.8% |
| Current portion of amounts payable after more than one year | 42 | €42,541 | €24,648 | -€17,893 | -42.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €77,465 | €20,901 | -€56,564 | -73.0% |
| Suppliers | 440/4 | €77,465 | €20,901 | -€56,564 | -73.0% |
| Taxes, remuneration and social security | 45 | €17,736 | €21,590 | +€3,854 | +21.7% |
| Taxes | 450/3 | €17,736 | €21,590 | +€3,854 | +21.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €132,377 | +€132,377 | |
| Accrued charges and deferred income | 492/3 | €4,608 | €12,550 | +€7,942 | +172% |
| Non-recurring operating income | 76A | €2,743 | €36,781 | +€34,038 | +1,241% |
| Remuneration, social security and pensions | 62 | €30,276 | €61 | -€30,215 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,508 | €27,603 | -€906 | -3.2% |
| Other operating charges | 640/8 | €3,285 | €3,165 | -€121 | -3.7% |
| Non-recurring operating charges | 66A | - | €30,398 | +€30,398 | |
| Gross operating margin | 9900 | €45,884 | -€10,129 | -€56,013 | |
| Operating profit (loss) | 9901 | -€16,185 | -€71,355 | -€55,169 | -341% |
| Financial income | 75/76B | €22 | €11 | -€10 | -48.0% |
| Recurring financial income | 75 | €22 | €11 | -€10 | -48.0% |
| Financial charges | 65/66B | €6,985 | €11,876 | +€4,891 | +70.0% |
| Recurring financial charges | 65 | €6,985 | €11,876 | +€4,891 | +70.0% |
| Profit (loss) for the period before taxes | 9903 | -€23,148 | -€83,219 | -€60,071 | -260% |
| Income taxes | 67/77 | €354 | €277 | -€77 | -21.8% |
| Profit (loss) for the period | 9904 | -€23,502 | -€83,496 | -€59,994 | -255% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,502 | -€83,496 | -€59,994 | -255% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.