BELAFIN: 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.
BELAFIN
Largest movements
- Receivables within one year -€44,913
down €44,913 (-10.5%), from €427,983 to €383,070
of which Other amounts receivable: -€44,576
- Cash +€22,729
up €22,729 (+114%), from €19,946 to €42,676
mainly Net result for the year (+€58,627) and Receivables within one year (+€44,913)
- Receivables after one year -€5,000
no longer reported in 2025 (was €5,000)
- Other debts -€89,505
down €89,505 (-99.7%), from €89,764 to €259
- Reserves +€58,627
up €58,627 (+17.6%), from €332,790 to €391,417
of which Distributable reserves: +€58,627
- Turnover +€211,750
new in 2025: €211,750
- Purchases and services +€147,801
new in 2025: €147,801
- Gross operating margin +€14,675
up €14,675 (+25.7%), from €57,031 to €71,706
- Taxes +€9,154
up €9,154 (+68.8%), from €13,296 to €22,449
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 | €453,864 | €426,840 | -€27,023 | -6.0% |
| Fixed assets | 21/28 | €934 | €1,095 | +€161 | +17.2% |
| Tangible fixed assets | 22/27 | €934 | €1,095 | +€161 | +17.2% |
| Furniture and vehicles | 24 | €934 | €1,095 | +€161 | +17.2% |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €452,930 | €425,746 | -€27,184 | -6.0% |
| Amounts receivable after more than one year | 29 | €5,000 | - | -€5,000 | |
| Other amounts receivable | 291 | €5,000 | - | -€5,000 | |
| Amounts receivable within one year | 40/41 | €427,983 | €383,070 | -€44,913 | -10.5% |
| Trade receivables | 40 | €20,353 | €20,016 | -€338 | -1.7% |
| Other amounts receivable | 41 | €407,630 | €363,054 | -€44,576 | -10.9% |
| Cash at bank and in hand | 54/58 | €19,946 | €42,676 | +€22,729 | +114% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €453,864 | €426,840 | -€27,023 | -6.0% |
| Equity | 10/15 | €351,399 | €410,027 | +€58,627 | +16.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €332,790 | €391,417 | +€58,627 | +17.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €332,790 | €391,417 | +€58,627 | +17.6% |
| Profit (loss) carried forward | 14 | €10 | €10 | = | 0.0% |
| Amounts payable | 17/49 | €102,464 | €16,814 | -€85,651 | -83.6% |
| Amounts payable within one year | 42/48 | €102,464 | €16,814 | -€85,651 | -83.6% |
| Trade debts | 44 | €495 | €0 | -€495 | -100% |
| Suppliers | 440/4 | €495 | €0 | -€495 | -100% |
| Taxes, remuneration and social security | 45 | €12,206 | €16,555 | +€4,349 | +35.6% |
| Taxes | 450/3 | €12,206 | €16,555 | +€4,349 | +35.6% |
| Other amounts payable | 47/48 | €89,764 | €259 | -€89,505 | -99.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | - | €211,750 | +€211,750 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €147,801 | +€147,801 | |
| Remuneration, social security and pensions | 62 | €422 | €385 | -€38 | -8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €613 | €830 | +€217 | +35.4% |
| Other operating charges | 640/8 | €609 | €331 | -€278 | -45.7% |
| Gross operating margin | 9900 | €57,031 | €71,706 | +€14,675 | +25.7% |
| Operating profit (loss) | 9901 | €55,387 | €70,160 | +€14,774 | +26.7% |
| Financial income | 75/76B | €10,048 | €11,022 | +€974 | +9.7% |
| Recurring financial income | 75 | €10,048 | €11,022 | +€974 | +9.7% |
| Financial charges | 65/66B | €39 | €106 | +€67 | +172% |
| Recurring financial charges | 65 | €39 | €106 | +€67 | +172% |
| Profit (loss) for the period before taxes | 9903 | €65,396 | €81,077 | +€15,681 | +24.0% |
| Income taxes | 67/77 | €13,296 | €22,449 | +€9,154 | +68.8% |
| Profit (loss) for the period | 9904 | €52,100 | €58,627 | +€6,527 | +12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €52,100 | €58,627 | +€6,527 | +12.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.