P.BEDIN: 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.
P.BEDIN
Largest movements
- Cash +€81,775
up €81,775 (+1,110%), from €7,364 to €89,139
mainly Net result for the year (+€50,591) and Other debts (+€39,000)
- Receivables within one year -€30,260
down €30,260 (-17.6%), from €171,779 to €141,518
of which Other amounts receivable: -€26,620
- Tangible fixed assets -€23,667
down €23,667 (-46.8%), from €50,596 to €26,929
of which Leasing and similar rights: -€25,137
- Other debts +€39,000
new in 2025: €39,000
- Tax, wage and social debts -€13,631
down €13,631 (-46.4%), from €29,389 to €15,758
of which Taxes: -€12,968
- Reserves +€12,000
up €12,000 (+7.4%), from €162,000 to €174,000
- Debts after one year -€9,485
down €9,485 (-39.0%), from €24,340 to €14,855
- Gross operating margin -€61,562
down €61,562 (-37.4%), from €164,480 to €102,919
- Taxes -€13,867
down €13,867 (-47.3%), from €29,333 to €15,466
- Other operating charges +€5,123
up €5,123 (+77.4%), from €6,617 to €11,740
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 | €230,039 | €259,122 | +€29,083 | +12.6% |
| Fixed assets | 21/28 | €50,596 | €26,929 | -€23,667 | -46.8% |
| Tangible fixed assets | 22/27 | €50,596 | €26,929 | -€23,667 | -46.8% |
| Plant, machinery and equipment | 23 | €1,769 | €1,351 | -€417 | -23.6% |
| Furniture and vehicles | 24 | €212 | €2,100 | +€1,888 | +889% |
| Leasing and similar rights | 25 | €48,615 | €23,478 | -€25,137 | -51.7% |
| Current assets | 29/58 | €179,443 | €232,193 | +€52,751 | +29.4% |
| Amounts receivable within one year | 40/41 | €171,779 | €141,518 | -€30,260 | -17.6% |
| Trade receivables | 40 | €113,442 | €109,802 | -€3,640 | -3.2% |
| Other amounts receivable | 41 | €58,337 | €31,716 | -€26,620 | -45.6% |
| Cash at bank and in hand | 54/58 | €7,364 | €89,139 | +€81,775 | +1,110% |
| Deferred charges and accrued income | 490/1 | €300 | €1,535 | +€1,236 | +412% |
| Total equity and liabilities | 10/49 | €230,039 | €259,122 | +€29,083 | +12.6% |
| Equity | 10/15 | €165,354 | €176,945 | +€11,591 | +7.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €162,000 | €174,000 | +€12,000 | +7.4% |
| Distributable reserves | 133 | €162,000 | €174,000 | +€12,000 | +7.4% |
| Profit (loss) carried forward | 14 | €854 | €445 | -€409 | -47.9% |
| Amounts payable | 17/49 | €64,685 | €82,177 | +€17,493 | +27.0% |
| Amounts payable after more than one year | 17 | €24,340 | €14,855 | -€9,485 | -39.0% |
| Financial debts | 170/4 | €24,340 | €14,855 | -€9,485 | -39.0% |
| Amounts payable within one year | 42/48 | €39,330 | €65,698 | +€26,368 | +67.0% |
| Current portion of amounts payable after more than one year | 42 | €9,941 | €9,485 | -€456 | -4.6% |
| Trade debts | 44 | - | €1,455 | +€1,455 | |
| Suppliers | 440/4 | - | €1,455 | +€1,455 | |
| Taxes, remuneration and social security | 45 | €29,389 | €15,758 | -€13,631 | -46.4% |
| Taxes | 450/3 | €28,726 | €15,758 | -€12,968 | -45.1% |
| Remuneration and social security | 454/9 | €663 | - | -€663 | |
| Other amounts payable | 47/48 | - | €39,000 | +€39,000 | |
| Accrued charges and deferred income | 492/3 | €1,015 | €1,624 | +€609 | +60.0% |
| Non-recurring operating income | 76A | €360 | - | -€360 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,578 | €24,978 | -€1,601 | -6.0% |
| Other operating charges | 640/8 | €6,617 | €11,740 | +€5,123 | +77.4% |
| Gross operating margin | 9900 | €164,480 | €102,919 | -€61,562 | -37.4% |
| Operating profit (loss) | 9901 | €131,285 | €66,202 | -€65,083 | -49.6% |
| Financial income | 75/76B | €458 | €914 | +€455 | +99.4% |
| Recurring financial income | 75 | €458 | €914 | +€455 | +99.4% |
| Financial charges | 65/66B | €1,496 | €1,059 | -€437 | -29.2% |
| Recurring financial charges | 65 | €1,496 | €1,059 | -€437 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €130,248 | €66,056 | -€64,191 | -49.3% |
| Income taxes | 67/77 | €29,333 | €15,466 | -€13,867 | -47.3% |
| Profit (loss) for the period | 9904 | €100,915 | €50,591 | -€50,324 | -49.9% |
| Profit (loss) for the period to be appropriated | 9905 | €100,915 | €50,591 | -€50,324 | -49.9% |
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 15 October 2026 via checked.be.