BEL 7: what changed
Two fiscal 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.
BEL 7
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€4,964
no longer reported in 2025 (was -€4,964)
- Financial charges -€348
down €348 (-64.0%), from €544 to €196
- Other operating charges -€203
down €203 (-34.0%), from €596 to €393
- Depreciation +€118
new in 2025: €118
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 | €437,860 | €437,782 | -€79 | 0.0% |
| Fixed assets | 21/28 | €437,860 | €437,742 | -€118 | 0.0% |
| Tangible fixed assets | 22/27 | €118 | - | -€118 | |
| Other tangible fixed assets | 26 | €118 | - | -€118 | |
| Financial fixed assets | 28 | €437,742 | €437,742 | = | 0.0% |
| Current assets | 29/58 | - | €40 | +€40 | |
| Cash at bank and in hand | 54/58 | - | €40 | +€40 | |
| Total equity and liabilities | 10/49 | €437,860 | €437,782 | -€79 | 0.0% |
| Equity | 10/15 | €163,636 | €162,929 | -€708 | -0.4% |
| Contributions | 10/11 | €50,142 | €50,142 | = | 0.0% |
| Capital | 10 | €50,142 | - | -€50,142 | |
| Issued capital | 100 | €56,342 | - | -€56,342 | |
| Uncalled capital | 101 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €85,014 | €85,014 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,014 | €5,014 | = | 0.0% |
| Legal reserve | 130 | €5,014 | - | -€5,014 | |
| Reserves not available under the articles | 1311 | - | €5,014 | +€5,014 | |
| Distributable reserves | 133 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,480 | €27,773 | -€708 | -2.5% |
| Provisions and deferred taxes | 16 | €17,500 | €17,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €17,500 | €17,500 | = | 0.0% |
| Environmental obligations | 163 | €17,500 | €17,500 | = | 0.0% |
| Amounts payable | 17/49 | €256,724 | €257,353 | +€629 | +0.2% |
| Amounts payable within one year | 42/48 | €256,724 | €257,353 | +€629 | +0.2% |
| Financial debts | 43 | €4 | - | -€4 | |
| Credit institutions | 430/8 | €4 | - | -€4 | |
| Trade debts | 44 | €6,025 | €6,025 | = | 0.0% |
| Suppliers | 440/4 | €6,025 | €6,025 | = | 0.0% |
| Other amounts payable | 47/48 | €250,695 | €251,328 | +€632 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €118 | +€118 | |
| Other operating charges | 640/8 | €596 | €393 | -€203 | -34.0% |
| Gross operating margin | 9900 | -€4,964 | - | +€4,964 | |
| Operating profit (loss) | 9901 | -€5,560 | -€512 | +€5,048 | +90.8% |
| Financial charges | 65/66B | €544 | €196 | -€348 | -64.0% |
| Recurring financial charges | 65 | €544 | €196 | -€348 | -64.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,104 | -€708 | +€5,396 | +88.4% |
| Profit (loss) for the period | 9904 | -€6,104 | -€708 | +€5,396 | +88.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,104 | -€708 | +€5,396 | +88.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.