BELAN: 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.
BELAN
Largest movements
- Tangible fixed assets +€32,674
up €32,674 (+9.6%), from €342,000 to €374,675
of which Land and buildings: +€38,846
- Receivables within one year +€8,764
up €8,764 (+26.0%), from €33,647 to €42,411
of which Other amounts receivable: +€7,901
- Other debts +€24,345
up €24,345 (+1,810%), from €1,345 to €25,690
- Trade debts +€7,626
up €7,626 (+366%), from €2,083 to €9,709
- Debts after one year +€5,750
up €5,750 (+3.1%), from €187,162 to €192,911
- Current portion of long-term debt +€5,721
up €5,721 (+21.3%), from €26,829 to €32,550
- Tax, wage and social debts +€5,645
up €5,645 (+51.9%), from €10,870 to €16,515
- Gross operating margin -€4,598
down €4,598 (-6.1%), from €74,934 to €70,336
- Other operating charges -€1,785
down €1,785 (-42.8%), from €4,173 to €2,388
- Taxes -€1,723
down €1,723 (-13.2%), from €13,023 to €11,299
- Depreciation +€1,142
up €1,142 (+7.6%), from €15,014 to €16,155
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 | €483,712 | €529,775 | +€46,063 | +9.5% |
| Fixed assets | 21/28 | €342,090 | €374,765 | +€32,674 | +9.6% |
| Tangible fixed assets | 22/27 | €342,000 | €374,675 | +€32,674 | +9.6% |
| Land and buildings | 22 | €328,406 | €367,252 | +€38,846 | +11.8% |
| Furniture and vehicles | 24 | €13,594 | €7,422 | -€6,172 | -45.4% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €141,622 | €155,011 | +€13,389 | +9.5% |
| Amounts receivable within one year | 40/41 | €33,647 | €42,411 | +€8,764 | +26.0% |
| Trade receivables | 40 | €33,647 | €34,510 | +€863 | +2.6% |
| Other amounts receivable | 41 | - | €7,901 | +€7,901 | |
| Cash at bank and in hand | 54/58 | €106,086 | €111,382 | +€5,296 | +5.0% |
| Deferred charges and accrued income | 490/1 | €1,889 | €1,218 | -€671 | -35.5% |
| Total equity and liabilities | 10/49 | €483,712 | €529,775 | +€46,063 | +9.5% |
| Equity | 10/15 | €255,423 | €252,399 | -€3,024 | -1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €236,500 | €233,475 | -€3,025 | -1.3% |
| Distributable reserves | 133 | €236,500 | €233,475 | -€3,025 | -1.3% |
| Profit (loss) carried forward | 14 | €323 | €324 | +€1 | +0.3% |
| Amounts payable | 17/49 | €228,289 | €277,376 | +€49,087 | +21.5% |
| Amounts payable after more than one year | 17 | €187,162 | €192,911 | +€5,750 | +3.1% |
| Financial debts | 170/4 | €187,162 | €192,911 | +€5,750 | +3.1% |
| Amounts payable within one year | 42/48 | €41,127 | €84,465 | +€43,337 | +105% |
| Current portion of amounts payable after more than one year | 42 | €26,829 | €32,550 | +€5,721 | +21.3% |
| Trade debts | 44 | €2,083 | €9,709 | +€7,626 | +366% |
| Suppliers | 440/4 | €2,083 | €9,709 | +€7,626 | +366% |
| Taxes, remuneration and social security | 45 | €10,870 | €16,515 | +€5,645 | +51.9% |
| Taxes | 450/3 | €10,870 | €16,515 | +€5,645 | +51.9% |
| Other amounts payable | 47/48 | €1,345 | €25,690 | +€24,345 | +1,810% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,014 | €16,155 | +€1,142 | +7.6% |
| Other operating charges | 640/8 | €4,173 | €2,388 | -€1,785 | -42.8% |
| Non-recurring operating charges | 66A | - | €13,959 | +€13,959 | |
| Gross operating margin | 9900 | €74,934 | €70,336 | -€4,598 | -6.1% |
| Operating profit (loss) | 9901 | €55,748 | €37,833 | -€17,915 | -32.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €4,506 | €4,557 | +€52 | +1.1% |
| Recurring financial charges | 65 | €4,506 | €4,557 | +€52 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €51,242 | €33,275 | -€17,966 | -35.1% |
| Income taxes | 67/77 | €13,023 | €11,299 | -€1,723 | -13.2% |
| Profit (loss) for the period | 9904 | €38,219 | €21,976 | -€16,243 | -42.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,219 | €21,976 | -€16,243 | -42.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.