BELAJET: what changed
What changed
BELAJET
filed annual accounts (NBB)
Net result for the year
€152,231
2024 · -€33,820+€186,051
Equity
€5.3m
2024 · €5.2m+€152,231
Cash
€105,499
2024 · €31,173+€74,325
Balance sheet total
€7.0m
2024 · €6.7m+€307,641
Largest movements
Assets
- Financial fixed assets +€300,000
up €300,000 (+7.6%), from €3.9m to €4.2m
- Current investments -€101,472
down €101,472 (-4.1%), from €2.5m to €2.4m
- Cash +€74,325
up €74,325 (+238%), from €31,173 to €105,499
mainly Debts after one year (+€170,025) and Net result for the year (+€152,231)
Equity and liabilities
- Debts after one year +€170,025
up €170,025 (+11.7%), from €1.4m to €1.6m
- Profit (loss) carried forward +€144,531
up €144,531 (+7.6%), from €1.9m to €2.0m
Income statement
- Financial income +€161,660
up €161,660 (+174%), from €92,674 to €254,334
- Financial charges -€14,924
down €14,924 (-15.4%), from €97,127 to €82,203
- Gross operating margin +€9,569
up €9,569 (+34.2%), from -€27,997 to -€18,428
- Purchases and services -€9,569
down €9,569 (-34.2%), from €27,997 to €18,428
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€33,820
Gross operating margin
+€9,569
Depreciation
-€72
Other operating charges
-€31
Financial income
+€161,660
Financial charges
+€14,924
Result 2025
€152,231
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€119,491
Investment
-€201,105
Financing
+€155,939
Cash 2024
€31,173
From operations (derived)
+€119,491
Net result for the year
+€152,231
Depreciation
+€473
Receivables after one year
-€5,435
Receivables within one year
-€27,084
Deferred charges and accrued income
-€165
Trade debts
-€3,029
Accrued charges and deferred income
+€2,500
Investment (derived)
-€201,105
Investment in fixed assets (net)
-€302,577
Current investments
+€101,472
Financing
+€155,939
Debts after one year
+€170,025
Short-term financial debts
-€14,086
Cash 2025
€105,499
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,650,626 | €6,958,268 | +€307,641 | +4.6% |
| Fixed assets | 21/28 | €3,938,500 | €4,240,604 | +€302,104 | +7.7% |
| Tangible fixed assets | 22/27 | €10,000 | €12,104 | +€2,104 | +21.0% |
| Furniture and vehicles | 24 | €0 | €2,104 | +€2,104 | |
| Other tangible fixed assets | 26 | €10,000 | €10,000 | = | 0.0% |
| Financial fixed assets | 28 | €3,928,500 | €4,228,500 | +€300,000 | +7.6% |
| Current assets | 29/58 | €2,712,126 | €2,717,663 | +€5,537 | +0.2% |
| Amounts receivable after more than one year | 29 | €164,274 | €169,709 | +€5,435 | +3.3% |
| Other amounts receivable | 291 | €164,274 | €169,709 | +€5,435 | +3.3% |
| Amounts receivable within one year | 40/41 | €52,003 | €79,087 | +€27,084 | +52.1% |
| Other amounts receivable | 41 | €52,003 | €79,087 | +€27,084 | +52.1% |
| Current investments | 50/53 | €2,459,241 | €2,357,769 | -€101,472 | -4.1% |
| Cash at bank and in hand | 54/58 | €31,173 | €105,499 | +€74,325 | +238% |
| Deferred charges and accrued income | 490/1 | €5,435 | €5,600 | +€165 | +3.0% |
| Total equity and liabilities | 10/49 | €6,650,626 | €6,958,268 | +€307,641 | +4.6% |
| Equity | 10/15 | €5,179,992 | €5,332,223 | +€152,231 | +2.9% |
| Contributions | 10/11 | €3,165,892 | €3,165,892 | = | 0.0% |
| Capital | 10 | €3,165,892 | €3,165,892 | = | 0.0% |
| Issued capital | 100 | €3,165,892 | €3,165,892 | = | 0.0% |
| Reserves | 13 | €116,000 | €123,700 | +€7,700 | +6.6% |
| Non-distributable reserves | 130/1 | €116,000 | €123,700 | +€7,700 | +6.6% |
| Legal reserve | 130 | €116,000 | €123,700 | +€7,700 | +6.6% |
| Profit (loss) carried forward | 14 | €1,898,100 | €2,042,631 | +€144,531 | +7.6% |
| Amounts payable | 17/49 | €1,470,635 | €1,626,044 | +€155,410 | +10.6% |
| Amounts payable after more than one year | 17 | €1,447,185 | €1,617,210 | +€170,025 | +11.7% |
| Financial debts | 170/4 | €1,447,185 | €1,617,210 | +€170,025 | +11.7% |
| Amounts payable within one year | 42/48 | €20,949 | €3,834 | -€17,115 | -81.7% |
| Financial debts | 43 | €16,994 | €2,909 | -€14,086 | -82.9% |
| Credit institutions | 430/8 | €16,994 | €2,909 | -€14,086 | -82.9% |
| Trade debts | 44 | €3,955 | €926 | -€3,029 | -76.6% |
| Suppliers | 440/4 | €3,955 | €926 | -€3,029 | -76.6% |
| Accrued charges and deferred income | 492/3 | €2,500 | €5,000 | +€2,500 | +100% |
| Goods, raw materials, services and sundry goods | 60/61 | €27,997 | €18,428 | -€9,569 | -34.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €401 | €473 | +€72 | +17.9% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | -€27,997 | -€18,428 | +€9,569 | +34.2% |
| Operating profit (loss) | 9901 | -€29,366 | -€19,899 | +€9,467 | +32.2% |
| Financial income | 75/76B | €92,674 | €254,334 | +€161,660 | +174% |
| Recurring financial income | 75 | €92,674 | €254,334 | +€161,660 | +174% |
| Financial charges | 65/66B | €97,127 | €82,203 | -€14,924 | -15.4% |
| Recurring financial charges | 65 | €97,127 | €82,203 | -€14,924 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | -€33,820 | €152,231 | +€186,051 | |
| Income taxes | 67/77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | -€33,820 | €152,231 | +€186,051 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,820 | €152,231 | +€186,051 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.