BENCO: what changed
What changed
BENCO
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
filed annual accounts (NBB)
Net result for the year
€9,725
2024 · €47,757-€38,032
Equity
€388,907
2024 · €379,182+€9,725
Cash
€66,239
2024 · €241,521-€175,282
Balance sheet total
€872,555
2024 · €1.4m-€546,260
Largest movements
Assets
- Stocks and contracts -€246,840
down €246,840 (-28.4%), from €870,291 to €623,451
- Cash -€175,282
down €175,282 (-72.6%), from €241,521 to €66,239
mainly Debts after one year (-€419,609) and Current portion of long-term debt (-€207,006)
- Receivables within one year -€132,216
down €132,216 (-43.6%), from €303,552 to €171,336
of which Trade receivables: -€200,422
Equity and liabilities
- Debts after one year -€419,609
down €419,609 (-100%), from €419,609 to €0
- Current portion of long-term debt -€207,006
down €207,006 (-49.9%), from €414,521 to €207,515
- Trade debts +€75,790
up €75,790 (+58.1%), from €130,353 to €206,144
- Other debts -€25,344
down €25,344 (-45.4%), from €55,834 to €30,490
Income statement
- Financial charges +€20,817
up €20,817 (+135%), from €15,402 to €36,219
- Other operating charges +€20,114
up €20,114 (+1,100%), from €1,829 to €21,943
- Taxes -€9,620
down €9,620 (-54.2%), from €17,737 to €8,117
- Gross operating margin -€4,792
down €4,792 (-5.8%), from €82,725 to €77,933
- Depreciation +€2,009
new in 2025: €2,009
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€47,757
Gross operating margin
-€4,792
Depreciation
-€2,009
Other operating charges
-€20,114
Financial income
+€79
Financial charges
-€20,817
Taxes
+€9,620
Result 2025
€9,725
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€462,707
Investment
-€11,762
Financing
-€626,228
Cash 2024
€241,521
From operations (derived)
+€462,707
Net result for the year
+€9,725
Depreciation
+€2,009
Stocks and contracts
+€246,840
Receivables within one year
+€132,216
Deferred charges and accrued income
+€1,675
Trade debts
+€75,790
Tax, wage and social debts
+€9,796
Advances received
+€10,000
Other debts
-€25,344
Investment (derived)
-€11,762
Investment in fixed assets (net)
-€11,762
Financing
-€626,228
Debts after one year
-€419,609
Current portion of long-term debt
-€207,006
Short-term financial debts
+€387
Cash 2025
€66,239
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,418,816 | €872,555 | -€546,260 | -38.5% |
| Fixed assets | 21/28 | - | €9,753 | +€9,753 | |
| Tangible fixed assets | 22/27 | - | €9,753 | +€9,753 | |
| Furniture and vehicles | 24 | - | €9,753 | +€9,753 | |
| Current assets | 29/58 | €1,418,816 | €862,802 | -€556,013 | -39.2% |
| Stocks and contracts in progress | 3 | €870,291 | €623,451 | -€246,840 | -28.4% |
| Stocks | 30/36 | €870,291 | €623,451 | -€246,840 | -28.4% |
| Amounts receivable within one year | 40/41 | €303,552 | €171,336 | -€132,216 | -43.6% |
| Trade receivables | 40 | €224,752 | €24,330 | -€200,422 | -89.2% |
| Other amounts receivable | 41 | €78,800 | €147,006 | +€68,205 | +86.6% |
| Cash at bank and in hand | 54/58 | €241,521 | €66,239 | -€175,282 | -72.6% |
| Deferred charges and accrued income | 490/1 | €3,452 | €1,777 | -€1,675 | -48.5% |
| Total equity and liabilities | 10/49 | €1,418,816 | €872,555 | -€546,260 | -38.5% |
| Equity | 10/15 | €379,182 | €388,907 | +€9,725 | +2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €360,582 | €370,307 | +€9,725 | +2.7% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €358,722 | €370,307 | +€11,585 | +3.2% |
| Amounts payable | 17/49 | €1,039,633 | €483,648 | -€555,985 | -53.5% |
| Amounts payable after more than one year | 17 | €419,609 | €0 | -€419,609 | -100% |
| Financial debts | 170/4 | €419,609 | €0 | -€419,609 | -100% |
| Amounts payable within one year | 42/48 | €620,025 | €483,648 | -€136,376 | -22.0% |
| Current portion of amounts payable after more than one year | 42 | €414,521 | €207,515 | -€207,006 | -49.9% |
| Financial debts | 43 | €810 | €1,197 | +€387 | +47.8% |
| Credit institutions | 430/8 | €810 | €1,197 | +€387 | +47.8% |
| Trade debts | 44 | €130,353 | €206,144 | +€75,790 | +58.1% |
| Suppliers | 440/4 | €130,353 | €206,144 | +€75,790 | +58.1% |
| Advances received on contracts in progress | 46 | - | €10,000 | +€10,000 | |
| Taxes, remuneration and social security | 45 | €18,506 | €28,302 | +€9,796 | +52.9% |
| Taxes | 450/3 | €18,506 | €28,302 | +€9,796 | +52.9% |
| Other amounts payable | 47/48 | €55,834 | €30,490 | -€25,344 | -45.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,009 | +€2,009 | |
| Other operating charges | 640/8 | €1,829 | €21,943 | +€20,114 | +1,100% |
| Gross operating margin | 9900 | €82,725 | €77,933 | -€4,792 | -5.8% |
| Operating profit (loss) | 9901 | €80,896 | €53,982 | -€26,915 | -33.3% |
| Financial income | 75/76B | - | €79 | +€79 | |
| Recurring financial income | 75 | - | €79 | +€79 | |
| Financial charges | 65/66B | €15,402 | €36,219 | +€20,817 | +135% |
| Recurring financial charges | 65 | €15,402 | €36,219 | +€20,817 | +135% |
| Profit (loss) for the period before taxes | 9903 | €65,494 | €17,842 | -€47,652 | -72.8% |
| Income taxes | 67/77 | €17,737 | €8,117 | -€9,620 | -54.2% |
| Profit (loss) for the period | 9904 | €47,757 | €9,725 | -€38,032 | -79.6% |
| Profit (loss) for the period to be appropriated | 9905 | €47,757 | €9,725 | -€38,032 | -79.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.