LES BEGUINES: 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.
What changed
LES BEGUINES
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€90,230
2024 · €84,363+€5,867
Equity
€1.8m
2024 · €1.7m+€90,230
Cash
€148,908
2024 · €139,474+€9,434
Balance sheet total
€2.5m
2024 · €2.2m+€306,923
Largest movements
Assets
- Tangible fixed assets +€177,700
up €177,700 (+10.1%), from €1.8m to €1.9m
- Receivables within one year +€81,105
up €81,105 (+30.0%), from €270,736 to €351,841
of which Other amounts receivable: +€81,132
- Deferred charges and accrued income +€38,684
up €38,684 (+985%), from €3,928 to €42,612
Equity and liabilities
- Debts after one year +€211,604
new in 2025: €211,604
- Reserves +€90,230
up €90,230 (+7.0%), from €1.3m to €1.4m
of which Distributable reserves: +€137,667
Income statement
- Gross operating margin +€6,536
up €6,536 (+2.4%), from €271,874 to €278,410
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.
Result 2024
€84,363
Gross operating margin
+€6,536
Depreciation
-€876
Other operating charges
-€2,634
Financial income
-€20
Financial charges
+€806
Taxes
+€1,872
Deferred taxes and other
+€183
Result 2025
€90,230
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€68,258
Investment
-€295,821
Financing
+€236,997
Cash 2024
€139,474
From operations (derived)
+€68,258
Net result for the year
+€90,230
Depreciation
+€118,121
Receivables within one year
-€81,105
Deferred charges and accrued income
-€38,684
Provisions
-€15,812
Trade debts
-€849
Tax, wage and social debts
-€3,742
Accrued charges and deferred income
+€100
Investment (derived)
-€295,821
Investment in fixed assets (net)
-€295,821
Financing
+€236,997
Debts after one year
+€211,604
Current portion of long-term debt
+€23,731
Short-term financial debts
+€1,661
Cash 2025
€148,908
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,167,867 | €2,474,790 | +€306,923 | +14.2% |
| Fixed assets | 21/28 | €1,753,729 | €1,931,429 | +€177,700 | +10.1% |
| Tangible fixed assets | 22/27 | €1,753,729 | €1,931,429 | +€177,700 | +10.1% |
| Land and buildings | 22 | €1,753,729 | €1,931,429 | +€177,700 | +10.1% |
| Current assets | 29/58 | €414,138 | €543,360 | +€129,222 | +31.2% |
| Amounts receivable within one year | 40/41 | €270,736 | €351,841 | +€81,105 | +30.0% |
| Trade receivables | 40 | €280 | €253 | -€27 | -9.5% |
| Other amounts receivable | 41 | €270,456 | €351,588 | +€81,132 | +30.0% |
| Cash at bank and in hand | 54/58 | €139,474 | €148,908 | +€9,434 | +6.8% |
| Deferred charges and accrued income | 490/1 | €3,928 | €42,612 | +€38,684 | +985% |
| Total equity and liabilities | 10/49 | €2,167,867 | €2,474,790 | +€306,923 | +14.2% |
| Equity | 10/15 | €1,693,724 | €1,783,954 | +€90,230 | +5.3% |
| Contributions | 10/11 | €405,000 | €405,000 | = | 0.0% |
| Capital | 10 | €405,000 | €405,000 | = | 0.0% |
| Issued capital | 100 | €405,000 | €405,000 | = | 0.0% |
| Reserves | 13 | €1,288,724 | €1,378,954 | +€90,230 | +7.0% |
| Non-distributable reserves | 130/1 | €40,500 | €40,500 | = | 0.0% |
| Legal reserve | 130 | €40,500 | €40,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €921,116 | €873,679 | -€47,437 | -5.1% |
| Distributable reserves | 133 | €327,108 | €464,775 | +€137,667 | +42.1% |
| Provisions and deferred taxes | 16 | €307,039 | €291,226 | -€15,812 | -5.1% |
| Deferred taxes | 168 | €307,039 | €291,226 | -€15,812 | -5.1% |
| Amounts payable | 17/49 | €167,104 | €399,609 | +€232,505 | +139% |
| Amounts payable after more than one year | 17 | - | €211,604 | +€211,604 | |
| Financial debts | 170/4 | - | €211,604 | +€211,604 | |
| Amounts payable within one year | 42/48 | €167,094 | €187,895 | +€20,801 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | - | €23,731 | +€23,731 | |
| Financial debts | 43 | €6,805 | €8,466 | +€1,661 | +24.4% |
| Other loans | 439 | €6,805 | €8,466 | +€1,661 | +24.4% |
| Trade debts | 44 | €3,410 | €2,560 | -€849 | -24.9% |
| Suppliers | 440/4 | €3,410 | €2,560 | -€849 | -24.9% |
| Taxes, remuneration and social security | 45 | €54,859 | €51,117 | -€3,742 | -6.8% |
| Taxes | 450/3 | €54,859 | €51,117 | -€3,742 | -6.8% |
| Other amounts payable | 47/48 | €102,020 | €102,020 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €10 | €110 | +€100 | +1,000% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,245 | €118,121 | +€876 | +0.7% |
| Other operating charges | 640/8 | €33,398 | €36,032 | +€2,634 | +7.9% |
| Gross operating margin | 9900 | €271,874 | €278,410 | +€6,536 | +2.4% |
| Operating profit (loss) | 9901 | €121,231 | €124,257 | +€3,026 | +2.5% |
| Financial income | 75/76B | €20 | €1 | -€20 | -97.1% |
| Recurring financial income | 75 | €20 | €1 | -€20 | -97.1% |
| Financial charges | 65/66B | €2,678 | €1,873 | -€806 | -30.1% |
| Recurring financial charges | 65 | €2,678 | €1,873 | -€806 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €118,573 | €122,385 | +€3,812 | +3.2% |
| Transfer from deferred taxes | 780 | €15,629 | €15,812 | +€183 | +1.2% |
| Income taxes | 67/77 | €49,839 | €47,967 | -€1,872 | -3.8% |
| Profit (loss) for the period | 9904 | €84,363 | €90,230 | +€5,867 | +7.0% |
| Transfer from tax-exempt reserves | 789 | €46,888 | €47,437 | +€549 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €131,252 | €137,667 | +€6,416 | +4.9% |
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 16 October 2026 via checked.be.