BEN CONSTRUCT: 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.
BEN CONSTRUCT
Largest movements
- Cash -€31,439
down €31,439 (-49.8%), from €63,160 to €31,722
mainly Investment in fixed assets (net) (-€40,700) and Advances received (-€35,000)
- Tangible fixed assets +€30,157
up €30,157 (+14.4%), from €209,068 to €239,225
of which Assets under construction and advance payments: +€51,252
- Deferred charges and accrued income -€18,380
down €18,380 (-91.7%), from €20,034 to €1,653
- Advances received -€35,000
no longer reported in 2025 (was €35,000)
- Tax, wage and social debts -€29,788
down €29,788 (-48.4%), from €61,520 to €31,733
of which Remuneration and social security: -€23,454
- Reserves +€25,000
up €25,000 (+114%), from €21,860 to €46,860
of which Distributable reserves: +€25,000
- Trade debts +€9,757
up €9,757 (+19.1%), from €50,964 to €60,721
- Accrued charges and deferred income +€9,480
new in 2025: €9,480
- Gross operating margin -€30,542
down €30,542 (-27.2%), from €112,154 to €81,612
- Staff costs -€21,229
no longer reported in 2025 (was €21,229)
- Depreciation -€7,394
down €7,394 (-39.3%), from €18,813 to €11,419
- Financial income +€2,712
up €2,712 (+260,778%), from €1 to €2,713
of which Financial income: +€1,620
- Taxes +€2,141
up €2,141 (+16.5%), from €13,000 to €15,141
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 | €454,976 | €434,628 | -€20,348 | -4.5% |
| Fixed assets | 21/28 | €210,781 | €240,063 | +€29,281 | +13.9% |
| Intangible fixed assets | 21 | €512 | - | -€512 | |
| Tangible fixed assets | 22/27 | €209,068 | €239,225 | +€30,157 | +14.4% |
| Land and buildings | 22 | €102,000 | €102,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €725 | €30 | -€695 | -95.9% |
| Furniture and vehicles | 24 | €23,544 | €3,145 | -€20,400 | -86.6% |
| Assets under construction and advance payments | 27 | €82,799 | €134,051 | +€51,252 | +61.9% |
| Financial fixed assets | 28 | €1,201 | €837 | -€363 | -30.3% |
| Current assets | 29/58 | €244,195 | €194,565 | -€49,630 | -20.3% |
| Amounts receivable within one year | 40/41 | €161,001 | €161,190 | +€189 | +0.1% |
| Trade receivables | 40 | €77,188 | €123,326 | +€46,138 | +59.8% |
| Other amounts receivable | 41 | €83,813 | €37,864 | -€45,949 | -54.8% |
| Cash at bank and in hand | 54/58 | €63,160 | €31,722 | -€31,439 | -49.8% |
| Deferred charges and accrued income | 490/1 | €20,034 | €1,653 | -€18,380 | -91.7% |
| Total equity and liabilities | 10/49 | €454,976 | €434,628 | -€20,348 | -4.5% |
| Equity | 10/15 | €217,319 | €249,461 | +€32,141 | +14.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €21,860 | €46,860 | +€25,000 | +114% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €45,000 | +€25,000 | +125% |
| Profit (loss) carried forward | 14 | €189,259 | €196,401 | +€7,141 | +3.8% |
| Amounts payable | 17/49 | €237,657 | €185,167 | -€52,489 | -22.1% |
| Amounts payable after more than one year | 17 | €63,234 | €55,977 | -€7,256 | -11.5% |
| Financial debts | 170/4 | €63,234 | €55,977 | -€7,256 | -11.5% |
| Amounts payable within one year | 42/48 | €174,423 | €119,710 | -€54,713 | -31.4% |
| Current portion of amounts payable after more than one year | 42 | €6,938 | €7,256 | +€318 | +4.6% |
| Trade debts | 44 | €50,964 | €60,721 | +€9,757 | +19.1% |
| Suppliers | 440/4 | €50,964 | €60,721 | +€9,757 | +19.1% |
| Advances received on contracts in progress | 46 | €35,000 | - | -€35,000 | |
| Taxes, remuneration and social security | 45 | €61,520 | €31,733 | -€29,788 | -48.4% |
| Taxes | 450/3 | €34,474 | €28,141 | -€6,334 | -18.4% |
| Remuneration and social security | 454/9 | €27,046 | €3,592 | -€23,454 | -86.7% |
| Other amounts payable | 47/48 | €20,000 | €20,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €9,480 | +€9,480 | |
| Remuneration, social security and pensions | 62 | €21,229 | - | -€21,229 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,813 | €11,419 | -€7,394 | -39.3% |
| Other operating charges | 640/8 | €1,997 | €2,475 | +€478 | +23.9% |
| Gross operating margin | 9900 | €112,154 | €81,612 | -€30,542 | -27.2% |
| Operating profit (loss) | 9901 | €70,115 | €67,718 | -€2,397 | -3.4% |
| Financial income | 75/76B | €1 | €2,713 | +€2,712 | +260,778% |
| Recurring financial income | 75 | €1 | €1,621 | +€1,620 | +155,775% |
| Non-recurring financial income | 76B | - | €1,092 | +€1,092 | |
| Financial charges | 65/66B | €3,620 | €3,149 | -€471 | -13.0% |
| Recurring financial charges | 65 | €3,620 | €3,149 | -€471 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €66,496 | €67,282 | +€785 | +1.2% |
| Income taxes | 67/77 | €13,000 | €15,141 | +€2,141 | +16.5% |
| Profit (loss) for the period | 9904 | €53,496 | €52,141 | -€1,355 | -2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,496 | €52,141 | -€1,355 | -2.5% |
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 28 October 2026 via checked.be.