BEL Housing: 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 Housing
Largest movements
- Receivables within one year +€7,981
up €7,981 (+14.6%), from €54,498 to €62,479
of which Other amounts receivable: +€8,081
- Reserves +€18,347
up €18,347 (+80.3%), from €22,860 to €41,207
- Tax, wage and social debts +€13,789
up €13,789 (+198%), from €6,950 to €20,739
- Other debts -€12,273
no longer reported in 2025 (was €12,273)
- Debts after one year -€11,737
down €11,737 (-44.0%), from €26,667 to €14,930
- Gross operating margin +€17,644
up €17,644 (+70.2%), from €25,130 to €42,774
- Other operating charges +€7,989
up €7,989 (+109%), from €7,344 to €15,332
- Taxes +€3,503
up €3,503 (+50.4%), from €6,950 to €10,453
- Financial income +€1,908
up €1,908 (+79.9%), from €2,389 to €4,297
- Depreciation +€932
up €932 (+281%), from €331 to €1,263
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €156,744 | €165,007 | +€8,263 | +5.3% |
| Fixed assets | 21/28 | €101,791 | €102,528 | +€736 | +0.7% |
| Tangible fixed assets | 22/27 | €1,791 | €2,528 | +€736 | +41.1% |
| Furniture and vehicles | 24 | €1,791 | €2,528 | +€736 | +41.1% |
| Financial fixed assets | 28 | €100,000 | €100,000 | = | 0.0% |
| Current assets | 29/58 | €54,952 | €62,479 | +€7,527 | +13.7% |
| Amounts receivable within one year | 40/41 | €54,498 | €62,479 | +€7,981 | +14.6% |
| Trade receivables | 40 | €100 | - | -€100 | |
| Other amounts receivable | 41 | €54,398 | €62,479 | +€8,081 | +14.9% |
| Deferred charges and accrued income | 490/1 | €454 | - | -€454 | |
| Total equity and liabilities | 10/49 | €156,744 | €165,007 | +€8,263 | +5.3% |
| Equity | 10/15 | €98,668 | €117,014 | +€18,347 | +18.6% |
| Contributions | 10/11 | €63,600 | €63,600 | = | 0.0% |
| Reserves | 13 | €22,860 | €41,207 | +€18,347 | +80.3% |
| Distributable reserves | 133 | €22,860 | €41,207 | +€18,347 | +80.3% |
| Profit (loss) carried forward | 14 | €12,208 | €12,208 | = | 0.0% |
| Amounts payable | 17/49 | €58,076 | €47,992 | -€10,084 | -17.4% |
| Amounts payable after more than one year | 17 | €26,667 | €14,930 | -€11,737 | -44.0% |
| Financial debts | 170/4 | €26,667 | €14,930 | -€11,737 | -44.0% |
| Amounts payable within one year | 42/48 | €31,409 | €33,062 | +€1,653 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €11,557 | €11,737 | +€180 | +1.6% |
| Financial debts | 43 | €114 | - | -€114 | |
| Other loans | 439 | €114 | - | -€114 | |
| Trade debts | 44 | €516 | €587 | +€71 | +13.8% |
| Suppliers | 440/4 | €516 | €587 | +€71 | +13.8% |
| Taxes, remuneration and social security | 45 | €6,950 | €20,739 | +€13,789 | +198% |
| Taxes | 450/3 | €6,950 | €20,739 | +€13,789 | +198% |
| Other amounts payable | 47/48 | €12,273 | - | -€12,273 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €331 | €1,263 | +€932 | +281% |
| Other operating charges | 640/8 | €7,344 | €15,332 | +€7,989 | +109% |
| Gross operating margin | 9900 | €25,130 | €42,774 | +€17,644 | +70.2% |
| Operating profit (loss) | 9901 | €17,455 | €26,178 | +€8,723 | +50.0% |
| Financial income | 75/76B | €2,389 | €4,297 | +€1,908 | +79.9% |
| Recurring financial income | 75 | €2,389 | €4,297 | +€1,908 | +79.9% |
| Financial charges | 65/66B | €897 | €1,676 | +€779 | +86.8% |
| Recurring financial charges | 65 | €897 | €1,676 | +€779 | +86.8% |
| Profit (loss) for the period before taxes | 9903 | €18,947 | €28,800 | +€9,852 | +52.0% |
| Income taxes | 67/77 | €6,950 | €10,453 | +€3,503 | +50.4% |
| Profit (loss) for the period | 9904 | €11,997 | €18,347 | +€6,349 | +52.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,997 | €18,347 | +€6,349 | +52.9% |
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 24 October 2026 via checked.be.