Be-Lieve: 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
Be-Lieve
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€89,119
2024 · €80,829+€8,290
Equity
€1.1m
2024 · €1.1m+€15,969
Cash
€53,284
2024 · €61,863-€8,579
Balance sheet total
€1.1m
2024 · €1.1m+€6,783
Largest movements
Assets
- Current investments +€21,171
up €21,171 (+4.3%), from €492,111 to €513,282
Equity and liabilities
- Reserves +€15,969
up €15,969 (+1.6%), from €1.0m to €1.0m
- Debts after one year -€14,813
down €14,813 (-30.7%), from €48,223 to €33,411
Income statement
- Gross operating margin +€9,974
up €9,974 (+8.9%), from €111,688 to €121,662
- Taxes +€4,023
up €4,023 (+13.0%), from €30,973 to €34,996
- Financial income +€1,436
up €1,436 (+13.7%), from €10,464 to €11,900
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
€80,829
Gross operating margin
+€9,974
Depreciation
+€305
Other operating charges
+€96
Financial income
+€1,436
Financial charges
+€502
Taxes
-€4,023
Result 2025
€89,119
raises the resultlowers the result
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
+€100,227
Investment
-€21,171
Financing
-€87,635
Cash 2024
€61,863
From operations (derived)
+€100,227
Net result for the year
+€89,119
Depreciation
+€6,115
Receivables after one year
-€5,000
Receivables within one year
+€3,947
Deferred charges and accrued income
+€747
Smaller working-capital items
+€122
Tax, wage and social debts
+€5,178
Investment (derived)
-€21,171
Current investments
-€21,171
Financing
-€87,635
Debts after one year
-€14,813
Current portion of long-term debt
+€370
Short-term financial debts
-€43
Contributions, distributions and other
-€73,150
Cash 2025
€53,284
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,138,036 | €1,144,820 | +€6,783 | +0.6% |
| Fixed assets | 21/28 | €375,559 | €369,444 | -€6,115 | -1.6% |
| Tangible fixed assets | 22/27 | €18,772 | €12,658 | -€6,115 | -32.6% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €16,287 | €10,620 | -€5,667 | -34.8% |
| Other tangible fixed assets | 26 | €2,486 | €2,038 | -€448 | -18.0% |
| Financial fixed assets | 28 | €356,786 | €356,786 | = | 0.0% |
| Current assets | 29/58 | €762,477 | €775,376 | +€12,898 | +1.7% |
| Amounts receivable after more than one year | 29 | €165,000 | €170,000 | +€5,000 | +3.0% |
| Other amounts receivable | 291 | €165,000 | €170,000 | +€5,000 | +3.0% |
| Amounts receivable within one year | 40/41 | €39,700 | €35,754 | -€3,947 | -9.9% |
| Trade receivables | 40 | €22,304 | €19,018 | -€3,286 | -14.7% |
| Other amounts receivable | 41 | €17,397 | €16,735 | -€661 | -3.8% |
| Current investments | 50/53 | €492,111 | €513,282 | +€21,171 | +4.3% |
| Cash at bank and in hand | 54/58 | €61,863 | €53,284 | -€8,579 | -13.9% |
| Deferred charges and accrued income | 490/1 | €3,803 | €3,057 | -€747 | -19.6% |
| Total equity and liabilities | 10/49 | €1,138,036 | €1,144,820 | +€6,783 | +0.6% |
| Equity | 10/15 | €1,052,725 | €1,068,694 | +€15,969 | +1.5% |
| Contributions | 10/11 | €34,000 | €34,000 | = | 0.0% |
| Reserves | 13 | €1,018,725 | €1,034,694 | +€15,969 | +1.6% |
| Distributable reserves | 133 | €1,018,725 | €1,034,694 | +€15,969 | +1.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €85,311 | €76,126 | -€9,186 | -10.8% |
| Amounts payable after more than one year | 17 | €48,223 | €33,411 | -€14,813 | -30.7% |
| Financial debts | 170/4 | €48,223 | €33,411 | -€14,813 | -30.7% |
| Amounts payable within one year | 42/48 | €36,878 | €42,505 | +€5,627 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €14,442 | €14,813 | +€370 | +2.6% |
| Financial debts | 43 | €8,464 | €8,421 | -€43 | -0.5% |
| Credit institutions | 430/8 | €8,464 | €8,421 | -€43 | -0.5% |
| Trade debts | 44 | €2,203 | €2,291 | +€89 | +4.0% |
| Suppliers | 440/4 | €2,203 | €2,291 | +€89 | +4.0% |
| Taxes, remuneration and social security | 45 | €10,969 | €16,147 | +€5,178 | +47.2% |
| Taxes | 450/3 | €10,969 | €16,147 | +€5,178 | +47.2% |
| Other amounts payable | 47/48 | €800 | €833 | +€33 | +4.1% |
| Accrued charges and deferred income | 492/3 | €210 | €210 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,420 | €6,115 | -€305 | -4.7% |
| Other operating charges | 640/8 | €1,412 | €1,316 | -€96 | -6.8% |
| Gross operating margin | 9900 | €111,688 | €121,662 | +€9,974 | +8.9% |
| Operating profit (loss) | 9901 | €103,856 | €114,232 | +€10,376 | +10.0% |
| Financial income | 75/76B | €10,464 | €11,900 | +€1,436 | +13.7% |
| Recurring financial income | 75 | €10,464 | €11,900 | +€1,436 | +13.7% |
| Financial charges | 65/66B | €2,518 | €2,016 | -€502 | -19.9% |
| Recurring financial charges | 65 | €2,518 | €2,016 | -€502 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €111,802 | €124,115 | +€12,313 | +11.0% |
| Income taxes | 67/77 | €30,973 | €34,996 | +€4,023 | +13.0% |
| Profit (loss) for the period | 9904 | €80,829 | €89,119 | +€8,290 | +10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €80,829 | €89,119 | +€8,290 | +10.3% |
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 18 October 2026 via checked.be.