BEL GO BIO: 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.
BEL GO BIO
Largest movements
- Cash +€404,492
up €404,492 (+169%), from €239,299 to €643,791
mainly Trade debts (+€811,854) and Depreciation (+€330,656)
- Receivables within one year +€307,886
up €307,886 (+46.1%), from €668,164 to €976,050
of which Trade receivables: +€310,748
- Tangible fixed assets -€62,276
down €62,276 (-2.3%), from €2.7m to €2.7m
of which Plant, machinery and equipment: -€163,417
- Trade debts +€811,854
up €811,854 (+203%), from €399,307 to €1.2m
- Reserves +€400,000
up €400,000 (+1,667%), from €24,000 to €424,000
of which Distributable reserves: +€400,000
- Profit (loss) carried forward -€382,795
down €382,795 (-88.2%), from €434,151 to €51,356
- Debts after one year -€230,476
down €230,476 (-11.6%), from €2.0m to €1.8m
- Gross operating margin +€93,175
up €93,175 (+16.2%), from €574,031 to €667,205
- Staff costs +€52,835
up €52,835 (+23.6%), from €223,483 to €276,318
- Financial charges +€21,981
up €21,981 (+146%), from €15,065 to €37,046
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,630,694 | €4,279,448 | +€648,754 | +17.9% |
| Fixed assets | 21/28 | €2,722,683 | €2,659,607 | -€63,076 | -2.3% |
| Intangible fixed assets | 21 | €1,927 | €927 | -€1,000 | -51.9% |
| Tangible fixed assets | 22/27 | €2,715,257 | €2,652,980 | -€62,276 | -2.3% |
| Land and buildings | 22 | €1,431,822 | €1,346,822 | -€85,000 | -5.9% |
| Plant, machinery and equipment | 23 | €1,231,585 | €1,068,168 | -€163,417 | -13.3% |
| Furniture and vehicles | 24 | €48,345 | €59,485 | +€11,140 | +23.0% |
| Assets under construction and advance payments | 27 | €3,506 | €178,506 | +€175,000 | +4,992% |
| Financial fixed assets | 28 | €5,500 | €5,700 | +€200 | +3.6% |
| Current assets | 29/58 | €908,011 | €1,619,841 | +€711,830 | +78.4% |
| Stocks and contracts in progress | 3 | €547 | - | -€547 | |
| Stocks | 30/36 | €547 | - | -€547 | |
| Amounts receivable within one year | 40/41 | €668,164 | €976,050 | +€307,886 | +46.1% |
| Trade receivables | 40 | €635,002 | €945,750 | +€310,748 | +48.9% |
| Other amounts receivable | 41 | €33,162 | €30,300 | -€2,862 | -8.6% |
| Cash at bank and in hand | 54/58 | €239,299 | €643,791 | +€404,492 | +169% |
| Total equity and liabilities | 10/49 | €3,630,694 | €4,279,448 | +€648,754 | +17.9% |
| Equity | 10/15 | €605,591 | €643,872 | +€38,281 | +6.3% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €24,000 | €424,000 | +€400,000 | +1,667% |
| Non-distributable reserves | 130/1 | €24,000 | €24,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €24,000 | €24,000 | = | 0.0% |
| Distributable reserves | 133 | - | €400,000 | +€400,000 | |
| Profit (loss) carried forward | 14 | €434,151 | €51,356 | -€382,795 | -88.2% |
| Investment grants | 15 | €67,440 | €88,516 | +€21,076 | +31.3% |
| Provisions and deferred taxes | 16 | €3,590 | €3,633 | +€42 | +1.2% |
| Deferred taxes | 168 | €3,590 | €3,633 | +€42 | +1.2% |
| Amounts payable | 17/49 | €3,021,513 | €3,631,944 | +€610,430 | +20.2% |
| Amounts payable after more than one year | 17 | €1,982,857 | €1,752,381 | -€230,476 | -11.6% |
| Financial debts | 170/4 | €1,982,857 | €1,752,381 | -€230,476 | -11.6% |
| Amounts payable within one year | 42/48 | €1,037,728 | €1,862,695 | +€824,968 | +79.5% |
| Current portion of amounts payable after more than one year | 42 | €230,476 | €230,476 | = | 0.0% |
| Trade debts | 44 | €399,307 | €1,211,161 | +€811,854 | +203% |
| Suppliers | 440/4 | €399,307 | €1,211,161 | +€811,854 | +203% |
| Taxes, remuneration and social security | 45 | €28,581 | €45,215 | +€16,633 | +58.2% |
| Taxes | 450/3 | €137 | €7,554 | +€7,417 | +5,428% |
| Remuneration and social security | 454/9 | €28,445 | €37,661 | +€9,216 | +32.4% |
| Other amounts payable | 47/48 | €379,363 | €375,843 | -€3,519 | -0.9% |
| Accrued charges and deferred income | 492/3 | €928 | €16,867 | +€15,939 | +1,717% |
| Remuneration, social security and pensions | 62 | €223,483 | €276,318 | +€52,835 | +23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €324,439 | €330,656 | +€6,216 | +1.9% |
| Other operating charges | 640/8 | €18,764 | €18,991 | +€227 | +1.2% |
| Non-recurring operating charges | 66A | - | €2,895 | +€2,895 | |
| Gross operating margin | 9900 | €574,031 | €667,205 | +€93,175 | +16.2% |
| Operating profit (loss) | 9901 | €7,344 | €38,346 | +€31,002 | +422% |
| Financial income | 75/76B | €12,784 | €15,254 | +€2,470 | +19.3% |
| Recurring financial income | 75 | €12,784 | €15,254 | +€2,470 | +19.3% |
| Financial charges | 65/66B | €15,065 | €37,046 | +€21,981 | +146% |
| Recurring financial charges | 65 | €15,065 | €37,046 | +€21,981 | +146% |
| Profit (loss) for the period before taxes | 9903 | €5,063 | €16,554 | +€11,491 | +227% |
| Transfer from deferred taxes | 780 | €662 | €795 | +€134 | +20.2% |
| Income taxes | 67/77 | €137 | €144 | +€7 | +5.2% |
| Profit (loss) for the period | 9904 | €5,588 | €17,205 | +€11,618 | +208% |
| Profit (loss) for the period to be appropriated | 9905 | €5,588 | €17,205 | +€11,618 | +208% |
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 25 October 2026 via checked.be.