BEMO: 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.
BEMO
Largest movements
- Current investments +€9.3m
up €9.3m (+30.4%), from €30.7m to €40.0m
- Receivables within one year +€1.5m
up €1.5m (+19.9%), from €7.3m to €8.8m
of which Other amounts receivable: +€1.4m
- Tangible fixed assets +€823,214
up €823,214 (+3.4%), from €24.0m to €24.8m
of which Land and buildings: +€762,881
- Profit (loss) carried forward +€7.1m
up €7.1m (+14.8%), from €48.1m to €55.2m
- Reserves +€2.1m
up €2.1m (+17.0%), from €12.1m to €14.2m
of which Distributable reserves: +€2.1m
- Short-term financial debts +€1.3m
new in 2025: €1.3m
- Other debts +€896,408
up €896,408 (+2045.3%), from €43,827 to €940,235
- Financial income +€3.8m
up €3.8m (+37.0%), from €10.4m to €14.2m
- Staff costs +€285,559
up €285,559 (+506.1%), from €56,420 to €341,979
- Gross operating margin +€245,276
up €245,276 (+27.6%), from €887,681 to €1.1m
- Taxes +€113,581
up €113,581 (+15.3%), from €743,851 to €857,432
- Financial charges -€91,524
down €91,524 (-45.6%), from €200,898 to €109,374
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.
Cash bridge derived
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 | €66,418,369 | €77,762,349 | +€11.3m | +17.1% |
| Fixed assets | 21/28 | €26,586,473 | €27,640,946 | +€1.1m | +4.0% |
| Tangible fixed assets | 22/27 | €23,968,930 | €24,792,144 | +€823,214 | +3.4% |
| Land and buildings | 22 | €21,469,364 | €22,232,245 | +€762,881 | +3.6% |
| Plant, machinery and equipment | 23 | €2,492,146 | €2,559,898 | +€67,752 | +2.7% |
| Assets under construction and advance payments | 27 | €7,420 | - | -€7,420 | |
| Financial fixed assets | 28 | €2,617,543 | €2,848,803 | +€231,260 | +8.8% |
| Current assets | 29/58 | €39,831,896 | €50,121,402 | +€10.3m | +25.8% |
| Amounts receivable within one year | 40/41 | €7,341,764 | €8,801,530 | +€1.5m | +19.9% |
| Trade receivables | 40 | €56,742 | €139,530 | +€82,788 | +145.9% |
| Other amounts receivable | 41 | €7,285,022 | €8,662,000 | +€1.4m | +18.9% |
| Current investments | 50/53 | €30,686,561 | €40,012,036 | +€9.3m | +30.4% |
| Cash at bank and in hand | 54/58 | €1,775,521 | €1,298,236 | -€477,285 | -26.9% |
| Deferred charges and accrued income | 490/1 | €28,050 | €9,600 | -€18,450 | -65.8% |
| Total equity and liabilities | 10/49 | €66,418,369 | €77,762,349 | +€11.3m | +17.1% |
| Equity | 10/15 | €62,348,689 | €71,512,255 | +€9.2m | +14.7% |
| Contributions | 10/11 | €2,161,654 | €2,161,654 | = | 0.0% |
| Reserves | 13 | €12,119,340 | €14,174,094 | +€2.1m | +17.0% |
| Non-distributable reserves | 130/1 | €174,094 | €174,094 | = | 0.0% |
| Other | 1319 | €174,094 | €174,094 | = | 0.0% |
| Distributable reserves | 133 | €11,945,246 | €14,000,000 | +€2.1m | +17.2% |
| Profit (loss) carried forward | 14 | €48,067,695 | €55,176,506 | +€7.1m | +14.8% |
| Amounts payable | 17/49 | €4,069,680 | €6,250,094 | +€2.2m | +53.6% |
| Amounts payable after more than one year | 17 | €2,421,270 | €2,037,135 | -€384,135 | -15.9% |
| Financial debts | 170/4 | €2,421,270 | €2,037,135 | -€384,135 | -15.9% |
| Amounts payable within one year | 42/48 | €1,593,996 | €4,202,024 | +€2.6m | +163.6% |
| Current portion of amounts payable after more than one year | 42 | €410,000 | €398,676 | -€11,324 | -2.8% |
| Financial debts | 43 | - | €1,282,865 | +€1.3m | |
| Credit institutions | 430/8 | - | €1,282,865 | +€1.3m | |
| Trade debts | 44 | €8,169 | €122,396 | +€114,226 | +1398.3% |
| Suppliers | 440/4 | €8,169 | €122,396 | +€114,226 | +1398.3% |
| Taxes, remuneration and social security | 45 | €1,132,000 | €1,457,852 | +€325,851 | +28.8% |
| Taxes | 450/3 | €1,125,903 | €1,421,723 | +€295,820 | +26.3% |
| Remuneration and social security | 454/9 | €6,098 | €36,129 | +€30,031 | +492.5% |
| Other amounts payable | 47/48 | €43,827 | €940,235 | +€896,408 | +2045.3% |
| Accrued charges and deferred income | 492/3 | €54,413 | €10,935 | -€43,479 | -79.9% |
| Remuneration, social security and pensions | 62 | €56,420 | €341,979 | +€285,559 | +506.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €776,912 | €853,128 | +€76,215 | +9.8% |
| Other operating charges | 640/8 | €104,168 | €80,916 | -€23,252 | -22.3% |
| Gross operating margin | 9900 | €887,681 | €1,132,957 | +€245,276 | +27.6% |
| Operating profit (loss) | 9901 | -€49,819 | -€143,066 | -€93,246 | -187.2% |
| Financial income | 75/76B | €10,382,455 | €14,224,682 | +€3.8m | +37.0% |
| Recurring financial income | 75 | €10,382,455 | €14,224,682 | +€3.8m | +37.0% |
| Financial charges | 65/66B | €200,898 | €109,374 | -€91,524 | -45.6% |
| Recurring financial charges | 65 | €200,898 | €109,374 | -€91,524 | -45.6% |
| Profit (loss) for the period before taxes | 9903 | €10,131,738 | €13,972,243 | +€3.8m | +37.9% |
| Income taxes | 67/77 | €743,851 | €857,432 | +€113,581 | +15.3% |
| Profit (loss) for the period | 9904 | €9,387,887 | €13,114,811 | +€3.7m | +39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,387,887 | €13,114,811 | +€3.7m | +39.7% |
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 10 October 2026 via checked.be.