BELARBO: what changed
BELARBO
Largest movements
- Tangible fixed assets -€7,050
down €7,050 (-77.0%), from €9,155 to €2,105
- Cash +€4,976
up €4,976 (+46.9%), from €10,620 to €15,596
mainly Depreciation (+€7,535) and Net result for the year (+€6,487)
- Receivables within one year +€4,709
new in 2025: €4,709
of which Other amounts receivable: +€3,222
- Financial fixed assets +€3,684
new in 2025: €3,684
- Deferred charges and accrued income +€519
up €519 (+92.3%), from €562 to €1,081
- Profit (loss) carried forward +€6,487
up €6,487 (+19.9%), from -€32,579 to -€26,092
- Trade debts +€5,860
up €5,860 (+125%), from €4,675 to €10,535
- Other debts -€5,323
down €5,323 (-12.8%), from €41,678 to €36,355
- Tax, wage and social debts -€276
down €276 (-7.7%), from €3,563 to €3,287
- Gross operating margin +€4,376
up €4,376 (+39.1%), from €11,205 to €15,581
- Depreciation -€398
down €398 (-5.0%), from €7,933 to €7,535
- Other operating charges +€170
up €170 (+26.9%), from €631 to €801
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,337 | €27,175 | +€6,838 | +33.6% |
| Fixed assets | 21/28 | €9,155 | €5,789 | -€3,366 | -36.8% |
| Tangible fixed assets | 22/27 | €9,155 | €2,105 | -€7,050 | -77.0% |
| Plant, machinery and equipment | 23 | €9,155 | €2,105 | -€7,050 | -77.0% |
| Financial fixed assets | 28 | - | €3,684 | +€3,684 | |
| Current assets | 29/58 | €11,182 | €21,386 | +€10,204 | +91.3% |
| Amounts receivable within one year | 40/41 | - | €4,709 | +€4,709 | |
| Trade receivables | 40 | - | €1,487 | +€1,487 | |
| Other amounts receivable | 41 | - | €3,222 | +€3,222 | |
| Cash at bank and in hand | 54/58 | €10,620 | €15,596 | +€4,976 | +46.9% |
| Deferred charges and accrued income | 490/1 | €562 | €1,081 | +€519 | +92.3% |
| Total equity and liabilities | 10/49 | €20,337 | €27,175 | +€6,838 | +33.6% |
| Equity | 10/15 | -€29,579 | -€23,092 | +€6,487 | +21.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,579 | -€26,092 | +€6,487 | +19.9% |
| Amounts payable | 17/49 | €49,916 | €50,267 | +€351 | +0.7% |
| Amounts payable within one year | 42/48 | €49,916 | €50,267 | +€351 | +0.7% |
| Financial debts | 43 | - | €90 | +€90 | |
| Credit institutions | 430/8 | - | €90 | +€90 | |
| Trade debts | 44 | €4,675 | €10,535 | +€5,860 | +125% |
| Suppliers | 440/4 | €4,675 | €10,535 | +€5,860 | +125% |
| Taxes, remuneration and social security | 45 | €3,563 | €3,287 | -€276 | -7.7% |
| Taxes | 450/3 | €3,563 | €3,287 | -€276 | -7.7% |
| Other amounts payable | 47/48 | €41,678 | €36,355 | -€5,323 | -12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,933 | €7,535 | -€398 | -5.0% |
| Other operating charges | 640/8 | €631 | €801 | +€170 | +26.9% |
| Gross operating margin | 9900 | €11,205 | €15,581 | +€4,376 | +39.1% |
| Operating profit (loss) | 9901 | €2,641 | €7,245 | +€4,604 | +174% |
| Financial charges | 65/66B | €782 | €758 | -€24 | -3.1% |
| Recurring financial charges | 65 | €782 | €758 | -€24 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €1,859 | €6,487 | +€4,628 | +249% |
| Profit (loss) for the period | 9904 | €1,859 | €6,487 | +€4,628 | +249% |
| Profit (loss) for the period to be appropriated | 9905 | €1,859 | €6,487 | +€4,628 | +249% |
Next steps
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 4 November 2026 via checked.be.