BEELGIUM: 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.
BEELGIUM
Largest movements
- Tangible fixed assets +€553,868
up €553,868 (+561.6%), from €98,615 to €652,483
of which Land and buildings: +€500,000
- Receivables within one year -€59,421
down €59,421 (-52.9%), from €112,283 to €52,863
of which Trade receivables: -€64,142
- Cash -€15,927
down €15,927 (-30.1%), from €52,907 to €36,981
mainly Investment in fixed assets (net) (-€590,931) and Contributions, distributions and other (-€86,000)
- Stocks and contracts -€15,556
down €15,556 (-21.3%), from €72,942 to €57,386
- Debts after one year +€502,523
up €502,523 (+799.7%), from €62,836 to €565,359
- Other debts +€86,000
up €86,000 (+10386.7%), from €828 to €86,828
- Profit (loss) carried forward -€68,551
down €68,551 (-79.2%), from €86,594 to €18,042
- Trade debts -€46,350
down €46,350 (-68.5%), from €67,690 to €21,340
- Tax, wage and social debts -€14,523
down €14,523 (-27.9%), from €52,077 to €37,555
of which Taxes: -€12,052
- Gross operating margin +€78,526
up €78,526 (+45.3%), from €173,427 to €251,954
- Other operating charges +€71,804
up €71,804 (+3722.0%), from €1,929 to €73,733
- Staff costs +€57,155
up €57,155 (+127.2%), from €44,933 to €102,087
- Taxes -€18,758
down €18,758 (-81.7%), from €22,951 to €4,193
- Financial charges +€9,902
up €9,902 (+231.2%), from €4,283 to €14,184
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 | €344,504 | €805,420 | +€460,916 | +133.8% |
| Fixed assets | 21/28 | €105,839 | €656,463 | +€550,624 | +520.2% |
| Intangible fixed assets | 21 | €2,811 | €367 | -€2,444 | -86.9% |
| Tangible fixed assets | 22/27 | €98,615 | €652,483 | +€553,868 | +561.6% |
| Land and buildings | 22 | - | €500,000 | +€500,000 | |
| Plant, machinery and equipment | 23 | €61,707 | €41,597 | -€20,110 | -32.6% |
| Furniture and vehicles | 24 | €32,586 | €42,195 | +€9,608 | +29.5% |
| Assets under construction and advance payments | 27 | €4,322 | €68,692 | +€64,370 | +1489.2% |
| Financial fixed assets | 28 | €4,413 | €3,613 | -€800 | -18.1% |
| Current assets | 29/58 | €238,665 | €148,956 | -€89,708 | -37.6% |
| Stocks and contracts in progress | 3 | €72,942 | €57,386 | -€15,556 | -21.3% |
| Stocks | 30/36 | €72,942 | €57,386 | -€15,556 | -21.3% |
| Amounts receivable within one year | 40/41 | €112,283 | €52,863 | -€59,421 | -52.9% |
| Trade receivables | 40 | €112,283 | €48,141 | -€64,142 | -57.1% |
| Other amounts receivable | 41 | - | €4,721 | +€4,721 | |
| Cash at bank and in hand | 54/58 | €52,907 | €36,981 | -€15,927 | -30.1% |
| Deferred charges and accrued income | 490/1 | €532 | €1,727 | +€1,195 | +224.8% |
| Total equity and liabilities | 10/49 | €344,504 | €805,420 | +€460,916 | +133.8% |
| Equity | 10/15 | €106,594 | €38,042 | -€68,551 | -64.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,594 | €18,042 | -€68,551 | -79.2% |
| Amounts payable | 17/49 | €237,910 | €767,378 | +€529,467 | +222.5% |
| Amounts payable after more than one year | 17 | €62,836 | €565,359 | +€502,523 | +799.7% |
| Financial debts | 170/4 | €62,836 | €565,359 | +€502,523 | +799.7% |
| Amounts payable within one year | 42/48 | €175,074 | €202,019 | +€26,944 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €50,496 | €56,295 | +€5,800 | +11.5% |
| Trade debts | 44 | €67,690 | €21,340 | -€46,350 | -68.5% |
| Suppliers | 440/4 | €67,690 | €21,340 | -€46,350 | -68.5% |
| Advances received on contracts in progress | 46 | €3,983 | - | -€3,983 | |
| Taxes, remuneration and social security | 45 | €52,077 | €37,555 | -€14,523 | -27.9% |
| Taxes | 450/3 | €26,350 | €14,297 | -€12,052 | -45.7% |
| Remuneration and social security | 454/9 | €25,728 | €23,258 | -€2,470 | -9.6% |
| Other amounts payable | 47/48 | €828 | €86,828 | +€86,000 | +10386.7% |
| Remuneration, social security and pensions | 62 | €44,933 | €102,087 | +€57,155 | +127.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,235 | €40,307 | +€2,072 | +5.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,205 | - | -€1,205 | |
| Other operating charges | 640/8 | €1,929 | €73,733 | +€71,804 | +3722.0% |
| Gross operating margin | 9900 | €173,427 | €251,954 | +€78,526 | +45.3% |
| Operating profit (loss) | 9901 | €87,126 | €35,826 | -€51,300 | -58.9% |
| Financial charges | 65/66B | €4,283 | €14,184 | +€9,902 | +231.2% |
| Recurring financial charges | 65 | €4,283 | €14,184 | +€9,902 | +231.2% |
| Profit (loss) for the period before taxes | 9903 | €82,843 | €21,642 | -€61,201 | -73.9% |
| Income taxes | 67/77 | €22,951 | €4,193 | -€18,758 | -81.7% |
| Profit (loss) for the period | 9904 | €59,892 | €17,449 | -€42,443 | -70.9% |
| Profit (loss) for the period to be appropriated | 9905 | €59,892 | €17,449 | -€42,443 | -70.9% |
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 11 October 2026 via checked.be.