BEL'IMMO: 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'IMMO
Largest movements
- Receivables within one year -€52,392
down €52,392 (-93.8%), from €55,839 to €3,447
of which Trade receivables: -€53,010
- Cash +€7,798
up €7,798 (+35.0%), from €22,312 to €30,110
mainly Receivables within one year (+€52,392) and Other debts (+€31,465)
- Trade debts -€49,547
down €49,547 (-87.6%), from €56,554 to €7,007
- Other debts +€31,465
up €31,465 (+97.7%), from €32,216 to €63,682
- Profit (loss) carried forward -€18,777
down €18,777 (-57.6%), from €32,626 to €13,849
- Tax, wage and social debts -€8,681
down €8,681 (-56.7%), from €15,305 to €6,624
- Gross operating margin +€6,868
up €6,868, from -€6,008 to €860
- Financial charges -€2,901
down €2,901 (-14.3%), from €20,258 to €17,357
- Other operating charges -€681
down €681 (-33.6%), from €2,026 to €1,345
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 | €470,851 | €425,322 | -€45,529 | -9.7% |
| Fixed assets | 21/28 | €1,794 | €859 | -€935 | -52.1% |
| Tangible fixed assets | 22/27 | €1,794 | €859 | -€935 | -52.1% |
| Furniture and vehicles | 24 | €1,794 | €859 | -€935 | -52.1% |
| Current assets | 29/58 | €469,057 | €424,464 | -€44,594 | -9.5% |
| Stocks and contracts in progress | 3 | €390,906 | €390,906 | = | 0.0% |
| Stocks | 30/36 | €390,906 | €390,906 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €55,839 | €3,447 | -€52,392 | -93.8% |
| Trade receivables | 40 | €54,725 | €1,716 | -€53,010 | -96.9% |
| Other amounts receivable | 41 | €1,114 | €1,731 | +€617 | +55.4% |
| Cash at bank and in hand | 54/58 | €22,312 | €30,110 | +€7,798 | +35.0% |
| Total equity and liabilities | 10/49 | €470,851 | €425,322 | -€45,529 | -9.7% |
| Equity | 10/15 | €51,226 | €32,449 | -€18,777 | -36.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,626 | €13,849 | -€18,777 | -57.6% |
| Amounts payable | 17/49 | €419,625 | €392,873 | -€26,752 | -6.4% |
| Amounts payable within one year | 42/48 | €419,075 | €392,312 | -€26,763 | -6.4% |
| Financial debts | 43 | €315,000 | €315,000 | = | 0.0% |
| Credit institutions | 430/8 | €315,000 | €315,000 | = | 0.0% |
| Trade debts | 44 | €56,554 | €7,007 | -€49,547 | -87.6% |
| Suppliers | 440/4 | €56,554 | €7,007 | -€49,547 | -87.6% |
| Taxes, remuneration and social security | 45 | €15,305 | €6,624 | -€8,681 | -56.7% |
| Taxes | 450/3 | €15,305 | €6,624 | -€8,681 | -56.7% |
| Other amounts payable | 47/48 | €32,216 | €63,682 | +€31,465 | +97.7% |
| Accrued charges and deferred income | 492/3 | €550 | €561 | +€11 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €935 | €935 | = | 0.0% |
| Other operating charges | 640/8 | €2,026 | €1,345 | -€681 | -33.6% |
| Gross operating margin | 9900 | -€6,008 | €860 | +€6,868 | |
| Operating profit (loss) | 9901 | -€8,969 | -€1,420 | +€7,549 | +84.2% |
| Financial charges | 65/66B | €20,258 | €17,357 | -€2,901 | -14.3% |
| Recurring financial charges | 65 | €20,258 | €17,357 | -€2,901 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | -€29,227 | -€18,777 | +€10,450 | +35.8% |
| Profit (loss) for the period | 9904 | -€29,227 | -€18,777 | +€10,450 | +35.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,227 | -€18,777 | +€10,450 | +35.8% |
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 6 October 2026 via checked.be.