BELAIRE: 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.
BELAIRE
Largest movements
- Tangible fixed assets +€38,397
up €38,397 (+36.9%), from €104,073 to €142,470
of which Furniture and vehicles: +€38,926
- Deferred charges and accrued income +€25,826
up €25,826 (+345%), from €7,493 to €33,318
- Cash -€15,297
down €15,297 (-23.5%), from €65,201 to €49,904
mainly Investment in fixed assets (net) (-€78,857) and Deferred charges and accrued income (-€25,826)
- Receivables within one year -€8,058
down €8,058 (-10.8%), from €74,378 to €66,320
of which Other amounts receivable: -€10,112
- Debts after one year +€21,000
up €21,000 (+72.1%), from €29,141 to €50,142
- Tax, wage and social debts +€16,724
up €16,724 (+10.7%), from €157,011 to €173,736
of which Taxes: +€11,283
- Current portion of long-term debt +€9,516
up €9,516 (+101%), from €9,404 to €18,920
- Trade debts -€7,559
down €7,559 (-65.3%), from €11,579 to €4,021
- Turnover -€119,480
down €119,480 (-9.0%), from €1.3m to €1.2m
- Staff costs +€62,036
up €62,036 (+7.3%), from €845,709 to €907,745
- Gross operating margin +€16,695
up €16,695 (+1.7%), from €963,398 to €980,094
- Taxes -€16,586
down €16,586 (-59.7%), from €27,796 to €11,210
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 | €253,149 | €294,922 | +€41,774 | +16.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €105,012 | €143,409 | +€38,397 | +36.6% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €104,073 | €142,470 | +€38,397 | +36.9% |
| Land and buildings | 22 | €31,777 | €24,890 | -€6,887 | -21.7% |
| Plant, machinery and equipment | 23 | €3,800 | €13,962 | +€10,162 | +267% |
| Furniture and vehicles | 24 | €51,963 | €90,888 | +€38,926 | +74.9% |
| Other tangible fixed assets | 26 | €16,533 | €12,730 | -€3,804 | -23.0% |
| Financial fixed assets | 28 | €939 | €939 | = | 0.0% |
| Current assets | 29/58 | €148,137 | €151,513 | +€3,377 | +2.3% |
| Stocks and contracts in progress | 3 | €1,065 | €1,972 | +€907 | +85.1% |
| Stocks | 30/36 | €1,065 | €1,972 | +€907 | +85.1% |
| Amounts receivable within one year | 40/41 | €74,378 | €66,320 | -€8,058 | -10.8% |
| Trade receivables | 40 | €0 | €2,054 | +€2,054 | |
| Other amounts receivable | 41 | €74,378 | €64,266 | -€10,112 | -13.6% |
| Cash at bank and in hand | 54/58 | €65,201 | €49,904 | -€15,297 | -23.5% |
| Deferred charges and accrued income | 490/1 | €7,493 | €33,318 | +€25,826 | +345% |
| Total equity and liabilities | 10/49 | €253,149 | €294,922 | +€41,774 | +16.5% |
| Equity | 10/15 | €46,013 | €47,675 | +€1,662 | +3.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €16,860 | €16,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,953 | €24,615 | +€1,662 | +7.2% |
| Amounts payable | 17/49 | €207,136 | €247,248 | +€40,112 | +19.4% |
| Amounts payable after more than one year | 17 | €29,141 | €50,142 | +€21,000 | +72.1% |
| Financial debts | 170/4 | €29,141 | €50,142 | +€21,000 | +72.1% |
| Amounts payable within one year | 42/48 | €177,994 | €197,106 | +€19,112 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €9,404 | €18,920 | +€9,516 | +101% |
| Financial debts | 43 | €0 | €0 | = | |
| Credit institutions | 430/8 | €0 | €0 | = | |
| Trade debts | 44 | €11,579 | €4,021 | -€7,559 | -65.3% |
| Suppliers | 440/4 | €11,579 | €4,021 | -€7,559 | -65.3% |
| Taxes, remuneration and social security | 45 | €157,011 | €173,736 | +€16,724 | +10.7% |
| Taxes | 450/3 | €60,987 | €72,270 | +€11,283 | +18.5% |
| Remuneration and social security | 454/9 | €96,024 | €101,466 | +€5,441 | +5.7% |
| Other amounts payable | 47/48 | €0 | €430 | +€430 | |
| Turnover | 70 | €1,323,847 | €1,204,367 | -€119,480 | -9.0% |
| Non-recurring operating income | 76A | €500 | €8,500 | +€8,000 | +1,600% |
| Goods, raw materials, services and sundry goods | 60/61 | €438,431 | €428,309 | -€10,122 | -2.3% |
| Remuneration, social security and pensions | 62 | €845,709 | €907,745 | +€62,036 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,029 | €40,460 | +€8,430 | +26.3% |
| Other operating charges | 640/8 | €2,150 | €2,103 | -€47 | -2.2% |
| Gross operating margin | 9900 | €963,398 | €980,094 | +€16,695 | +1.7% |
| Operating profit (loss) | 9901 | €83,510 | €29,786 | -€53,724 | -64.3% |
| Financial income | 75/76B | €1,263 | €5,337 | +€4,074 | +323% |
| Recurring financial income | 75 | €1,263 | €5,337 | +€4,074 | +323% |
| Financial charges | 65/66B | €10,334 | €4,233 | -€6,100 | -59.0% |
| Recurring financial charges | 65 | €10,334 | €4,233 | -€6,100 | -59.0% |
| Profit (loss) for the period before taxes | 9903 | €74,439 | €30,889 | -€43,550 | -58.5% |
| Income taxes | 67/77 | €27,796 | €11,210 | -€16,586 | -59.7% |
| Profit (loss) for the period | 9904 | €46,643 | €19,680 | -€26,964 | -57.8% |
| Profit (loss) for the period to be appropriated | 9905 | €46,643 | €19,680 | -€26,964 | -57.8% |
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 19 October 2026 via checked.be.