BelAir & Co: 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.
BelAir & Co
Largest movements
- Receivables within one year +€529,281
up €529,281 (+210%), from €251,653 to €780,934
of which Trade receivables: +€476,295
- Deferred charges and accrued income -€91,754
no longer reported in 2025 (was €91,754)
- Stocks and contracts -€15,000
no longer reported in 2025 (was €15,000)
- Trade debts +€294,514
up €294,514 (+220%), from €133,916 to €428,430
- Profit (loss) carried forward +€115,223
up €115,223 (+70.4%), from €163,597 to €278,820
- Tax, wage and social debts +€39,940
up €39,940 (+112%), from €35,739 to €75,679
of which Taxes: +€36,027
- Debts after one year -€22,567
down €22,567 (-7.5%), from €299,720 to €277,153
- Gross operating margin +€22,601
up €22,601 (+10.9%), from €206,545 to €229,146
- Financial charges +€5,384
up €5,384 (+51.3%), from €10,495 to €15,880
- Staff costs -€4,412
down €4,412 (-11.0%), from €40,063 to €35,651
- Taxes -€3,865
down €3,865 (-9.6%), from €40,188 to €36,323
- Depreciation -€3,743
down €3,743 (-13.2%), from €28,289 to €24,545
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 | €936,884 | €1,365,011 | +€428,128 | +45.7% |
| Fixed assets | 21/28 | €451,809 | €470,698 | +€18,889 | +4.2% |
| Tangible fixed assets | 22/27 | €451,809 | €465,398 | +€13,589 | +3.0% |
| Land and buildings | 22 | €424,788 | €414,352 | -€10,436 | -2.5% |
| Plant, machinery and equipment | 23 | €164 | €1,711 | +€1,547 | +945% |
| Furniture and vehicles | 24 | €21,638 | €11,456 | -€10,182 | -47.1% |
| Other tangible fixed assets | 26 | €5,219 | €37,880 | +€32,660 | +626% |
| Financial fixed assets | 28 | - | €5,300 | +€5,300 | |
| Current assets | 29/58 | €485,074 | €894,313 | +€409,239 | +84.4% |
| Stocks and contracts in progress | 3 | €15,000 | - | -€15,000 | |
| Stocks | 30/36 | €15,000 | - | -€15,000 | |
| Amounts receivable within one year | 40/41 | €251,653 | €780,934 | +€529,281 | +210% |
| Trade receivables | 40 | €180,807 | €657,103 | +€476,295 | +263% |
| Other amounts receivable | 41 | €70,845 | €123,831 | +€52,986 | +74.8% |
| Cash at bank and in hand | 54/58 | €126,668 | €113,379 | -€13,289 | -10.5% |
| Deferred charges and accrued income | 490/1 | €91,754 | - | -€91,754 | |
| Total equity and liabilities | 10/49 | €936,884 | €1,365,011 | +€428,128 | +45.7% |
| Equity | 10/15 | €436,697 | €551,920 | +€115,223 | +26.4% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €21,000 | +€21,000 | |
| Other | 1109/19 | - | €21,000 | +€21,000 | |
| Reserves | 13 | €252,100 | €252,100 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €2,100 | +€2,100 | |
| Legal reserve | 130 | - | €2,100 | +€2,100 | |
| Distributable reserves | 133 | €252,100 | €250,000 | -€2,100 | -0.8% |
| Profit (loss) carried forward | 14 | €163,597 | €278,820 | +€115,223 | +70.4% |
| Amounts payable | 17/49 | €500,186 | €813,091 | +€312,905 | +62.6% |
| Amounts payable after more than one year | 17 | €299,720 | €277,153 | -€22,567 | -7.5% |
| Financial debts | 170/4 | €299,720 | €277,153 | -€22,567 | -7.5% |
| Amounts payable within one year | 42/48 | €200,467 | €535,939 | +€335,472 | +167% |
| Current portion of amounts payable after more than one year | 42 | €30,812 | €23,481 | -€7,331 | -23.8% |
| Financial debts | 43 | - | €8,349 | +€8,349 | |
| Credit institutions | 430/8 | - | €8,349 | +€8,349 | |
| Trade debts | 44 | €133,916 | €428,430 | +€294,514 | +220% |
| Suppliers | 440/4 | €133,916 | €428,430 | +€294,514 | +220% |
| Taxes, remuneration and social security | 45 | €35,739 | €75,679 | +€39,940 | +112% |
| Taxes | 450/3 | €9,686 | €45,713 | +€36,027 | +372% |
| Remuneration and social security | 454/9 | €26,053 | €29,966 | +€3,913 | +15.0% |
| Remuneration, social security and pensions | 62 | €40,063 | €35,651 | -€4,412 | -11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,289 | €24,545 | -€3,743 | -13.2% |
| Other operating charges | 640/8 | €682 | €1,528 | +€846 | +124% |
| Gross operating margin | 9900 | €206,545 | €229,146 | +€22,601 | +10.9% |
| Operating profit (loss) | 9901 | €137,511 | €167,421 | +€29,910 | +21.8% |
| Financial income | 75/76B | €1,400 | €4 | -€1,396 | -99.7% |
| Recurring financial income | 75 | €1,400 | €4 | -€1,396 | -99.7% |
| Financial charges | 65/66B | €10,495 | €15,880 | +€5,384 | +51.3% |
| Recurring financial charges | 65 | €10,495 | €15,880 | +€5,384 | +51.3% |
| Profit (loss) for the period before taxes | 9903 | €128,415 | €151,545 | +€23,130 | +18.0% |
| Income taxes | 67/77 | €40,188 | €36,323 | -€3,865 | -9.6% |
| Profit (loss) for the period | 9904 | €88,227 | €115,223 | +€26,995 | +30.6% |
| Profit (loss) for the period to be appropriated | 9905 | €88,227 | €115,223 | +€26,995 | +30.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.