BELAMED: 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.
BELAMED
Largest movements
- Receivables within one year +€34,984
up €34,984 (+631.9%), from €5,536 to €40,520
of which Other amounts receivable: +€30,271
- Cash +€21,523
up €21,523 (+17.2%), from €125,012 to €146,535
mainly Net result for the year (+€155,521) and Depreciation (+€14,588)
- Reserves +€65,000
up €65,000 (+5.4%), from €1.2m to €1.3m
- Gross operating margin -€190,154
down €190,154 (-44.1%), from €430,759 to €240,605
- Taxes -€47,143
down €47,143 (-38.2%), from €123,304 to €76,161
- Staff costs -€38,619
no longer reported in 2025 (was €38,619)
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 | €1,246,457 | €1,299,001 | +€52,544 | +4.2% |
| Fixed assets | 21/28 | €200,866 | €192,850 | -€8,017 | -4.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €200,866 | €192,850 | -€8,017 | -4.0% |
| Furniture and vehicles | 24 | €27,023 | €17,969 | -€9,054 | -33.5% |
| Other tangible fixed assets | 26 | €173,844 | €174,881 | +€1,037 | +0.6% |
| Current assets | 29/58 | €1,045,590 | €1,106,151 | +€60,561 | +5.8% |
| Amounts receivable within one year | 40/41 | €5,536 | €40,520 | +€34,984 | +631.9% |
| Trade receivables | 40 | €5,536 | €10,249 | +€4,712 | +85.1% |
| Other amounts receivable | 41 | - | €30,271 | +€30,271 | |
| Current investments | 50/53 | €909,988 | €909,988 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €125,012 | €146,535 | +€21,523 | +17.2% |
| Deferred charges and accrued income | 490/1 | €5,053 | €9,108 | +€4,054 | +80.2% |
| Total equity and liabilities | 10/49 | €1,246,457 | €1,299,001 | +€52,544 | +4.2% |
| Equity | 10/15 | €1,229,602 | €1,294,623 | +€65,021 | +5.3% |
| Contributions | 10/11 | €24,591 | €24,591 | = | 0.0% |
| Reserves | 13 | €1,199,138 | €1,264,138 | +€65,000 | +5.4% |
| Distributable reserves | 133 | €1,199,138 | €1,264,138 | +€65,000 | +5.4% |
| Profit (loss) carried forward | 14 | €5,873 | €5,893 | +€21 | +0.4% |
| Amounts payable | 17/49 | €16,855 | €4,378 | -€12,476 | -74.0% |
| Amounts payable within one year | 42/48 | €16,106 | €3,802 | -€12,304 | -76.4% |
| Financial debts | 43 | €665 | €65 | -€600 | -90.2% |
| Credit institutions | 430/8 | €665 | €65 | -€600 | -90.2% |
| Trade debts | 44 | €4,351 | €3,557 | -€794 | -18.3% |
| Suppliers | 440/4 | €4,351 | €3,557 | -€794 | -18.3% |
| Taxes, remuneration and social security | 45 | €2,623 | - | -€2,623 | |
| Taxes | 450/3 | €2,623 | - | -€2,623 | |
| Other amounts payable | 47/48 | €8,467 | €180 | -€8,287 | -97.9% |
| Accrued charges and deferred income | 492/3 | €748 | €576 | -€172 | -23.0% |
| Remuneration, social security and pensions | 62 | €38,619 | - | -€38,619 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,337 | €14,588 | +€1,251 | +9.4% |
| Other operating charges | 640/8 | €1,893 | €2,141 | +€249 | +13.1% |
| Gross operating margin | 9900 | €430,759 | €240,605 | -€190,154 | -44.1% |
| Operating profit (loss) | 9901 | €376,910 | €223,876 | -€153,034 | -40.6% |
| Financial income | 75/76B | €10,578 | €7,889 | -€2,689 | -25.4% |
| Recurring financial income | 75 | €10,578 | €7,889 | -€2,689 | -25.4% |
| Financial charges | 65/66B | €103 | €84 | -€19 | -18.5% |
| Recurring financial charges | 65 | €103 | €84 | -€19 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €387,385 | €231,682 | -€155,704 | -40.2% |
| Income taxes | 67/77 | €123,304 | €76,161 | -€47,143 | -38.2% |
| Profit (loss) for the period | 9904 | €264,082 | €155,521 | -€108,561 | -41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €264,082 | €155,521 | -€108,561 | -41.1% |
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.