ACTIBELAM: 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
ACTIBELAM
NACE 66.199, Other activities auxiliary to financial services, excluding insurance and pension funding
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€101,538
2024 · -€192,509+€90,972
Equity
€693,352
2024 · €794,889-€101,538
Cash
€21,156
2024 · €106,949-€85,793
Balance sheet total
€769,589
2024 · €1.3m-€489,146
Largest movements
Assets
- Receivables after one year -€426,362
down €426,362 (-50.2%), from €848,701 to €422,339
- Cash -€85,793
down €85,793 (-80.2%), from €106,949 to €21,156
mainly Debts after one year (-€260,000) and Other debts (-€124,527)
- Receivables within one year +€28,915
up €28,915 (+13.7%), from €211,259 to €240,174
of which Trade receivables: +€28,137
Equity and liabilities
- Debts after one year -€260,000
down €260,000 (-100%), from €260,000 to €0
- Other debts -€124,527
down €124,527 (-63.4%), from €196,326 to €71,798
- Profit (loss) carried forward -€101,538
down €101,538 (-24.9%), from -€407,516 to -€509,054
Income statement
- Gross operating margin +€101,515
up €101,515 (+51.6%), from -€196,626 to -€95,111
- Financial income -€22,534
down €22,534 (-69.5%), from €32,437 to €9,902
- Financial charges -€20,705
down €20,705, from €15,925 to -€4,780
- Taxes +€13,796
up €13,796 (+2,660%), from €519 to €14,315
- Depreciation -€4,076
down €4,076 (-43.5%), from €9,379 to €5,304
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
-€192,509
Gross operating margin
+€101,515
Depreciation
+€4,076
Other operating charges
+€1,071
Other operating items
-€65
Financial income
-€22,534
Financial charges
+€20,705
Taxes
-€13,796
Result 2025
-€101,538
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
+€176,978
Investment
-€2,771
Financing
-€260,000
Cash 2024
€106,949
From operations (derived)
+€176,978
Net result for the year
-€101,538
Depreciation
+€5,304
Receivables after one year
+€426,362
Receivables within one year
-€28,915
Deferred charges and accrued income
+€3,372
Smaller working-capital items
-€832
Trade debts
-€2,248
Other debts
-€124,527
Investment (derived)
-€2,771
Investment in fixed assets (net)
+€2,348
Current investments
-€5,119
Financing
-€260,000
Debts after one year
-€260,000
Cash 2025
€21,156
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,258,734 | €769,589 | -€489,146 | -38.9% |
| Fixed assets | 21/28 | €68,871 | €61,219 | -€7,652 | -11.1% |
| Tangible fixed assets | 22/27 | €66,868 | €59,216 | -€7,652 | -11.4% |
| Land and buildings | 22 | €6,736 | €6,395 | -€341 | -5.1% |
| Furniture and vehicles | 24 | €3,505 | €655 | -€2,849 | -81.3% |
| Other tangible fixed assets | 26 | €56,628 | €52,165 | -€4,462 | -7.9% |
| Financial fixed assets | 28 | €2,003 | €2,003 | = | 0.0% |
| Current assets | 29/58 | €1,189,864 | €708,370 | -€481,494 | -40.5% |
| Amounts receivable after more than one year | 29 | €848,701 | €422,339 | -€426,362 | -50.2% |
| Other amounts receivable | 291 | €848,701 | €422,339 | -€426,362 | -50.2% |
| Amounts receivable within one year | 40/41 | €211,259 | €240,174 | +€28,915 | +13.7% |
| Trade receivables | 40 | €207,782 | €235,919 | +€28,137 | +13.5% |
| Other amounts receivable | 41 | €3,477 | €4,254 | +€777 | +22.4% |
| Current investments | 50/53 | €9,941 | €15,060 | +€5,119 | +51.5% |
| Cash at bank and in hand | 54/58 | €106,949 | €21,156 | -€85,793 | -80.2% |
| Deferred charges and accrued income | 490/1 | €13,014 | €9,641 | -€3,372 | -25.9% |
| Total equity and liabilities | 10/49 | €1,258,734 | €769,589 | -€489,146 | -38.9% |
| Equity | 10/15 | €794,889 | €693,352 | -€101,538 | -12.8% |
| Contributions | 10/11 | €360,000 | €360,000 | = | 0.0% |
| Capital | 10 | €360,000 | €360,000 | = | 0.0% |
| Issued capital | 100 | €360,000 | €360,000 | = | 0.0% |
| Reserves | 13 | €842,406 | €842,406 | = | 0.0% |
| Non-distributable reserves | 130/1 | €36,000 | €36,000 | = | 0.0% |
| Legal reserve | 130 | €36,000 | €36,000 | = | 0.0% |
| Distributable reserves | 133 | €806,406 | €806,406 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€407,516 | -€509,054 | -€101,538 | -24.9% |
| Provisions and deferred taxes | 16 | €3,007 | €1,965 | -€1,042 | -34.7% |
| Provisions for liabilities and charges | 160/5 | €3,007 | €1,965 | -€1,042 | -34.7% |
| Other liabilities and charges | 164/5 | €3,007 | €1,965 | -€1,042 | -34.7% |
| Amounts payable | 17/49 | €460,838 | €74,272 | -€386,566 | -83.9% |
| Amounts payable after more than one year | 17 | €260,000 | €0 | -€260,000 | -100% |
| Financial debts | 170/4 | €260,000 | €0 | -€260,000 | -100% |
| Amounts payable within one year | 42/48 | €200,838 | €74,272 | -€126,566 | -63.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €4,000 | €1,751 | -€2,248 | -56.2% |
| Suppliers | 440/4 | €4,000 | €1,751 | -€2,248 | -56.2% |
| Taxes, remuneration and social security | 45 | €513 | €723 | +€210 | +40.9% |
| Taxes | 450/3 | €513 | €723 | +€210 | +40.9% |
| Other amounts payable | 47/48 | €196,326 | €71,798 | -€124,527 | -63.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €927 | +€927 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,379 | €5,304 | -€4,076 | -43.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,364 | €1,293 | -€1,071 | -45.3% |
| Non-recurring operating charges | 66A | €133 | €198 | +€65 | +48.7% |
| Gross operating margin | 9900 | -€196,626 | -€95,111 | +€101,515 | +51.6% |
| Operating profit (loss) | 9901 | -€208,502 | -€101,905 | +€106,597 | +51.1% |
| Financial income | 75/76B | €32,437 | €9,902 | -€22,534 | -69.5% |
| Recurring financial income | 75 | €32,437 | €9,902 | -€22,534 | -69.5% |
| Financial charges | 65/66B | €15,925 | -€4,780 | -€20,705 | |
| Recurring financial charges | 65 | €15,925 | -€4,780 | -€20,705 | |
| Profit (loss) for the period before taxes | 9903 | -€191,990 | -€87,223 | +€104,768 | +54.6% |
| Income taxes | 67/77 | €519 | €14,315 | +€13,796 | +2,660% |
| Profit (loss) for the period | 9904 | -€192,509 | -€101,538 | +€90,972 | +47.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€192,509 | -€101,538 | +€90,972 | +47.3% |
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.