BELARSIM: 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.
BELARSIM
Largest movements
- Tangible fixed assets +€74,434
up €74,434 (+2774.8%), from €2,682 to €77,116
of which Furniture and vehicles: +€74,531
- Other debts +€78,680
up €78,680 (+145.5%), from €54,075 to €132,755
- Profit (loss) carried forward -€3,942
down €3,942 (-3.8%), from -€102,595 to -€106,537
- Write-downs -€2,465
no longer reported in 2025 (was €2,465)
- Other operating charges +€824
new in 2025: €824
- Gross operating margin -€265
down €265 (-12.6%), from -€2,099 to -€2,364
- Depreciation +€82
up €82 (+17.0%), from €484 to €566
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,719 | €81,709 | +€74,990 | +1116.0% |
| Fixed assets | 21/28 | €2,682 | €77,116 | +€74,434 | +2774.8% |
| Tangible fixed assets | 22/27 | €2,682 | €77,116 | +€74,434 | +2774.8% |
| Furniture and vehicles | 24 | €2,092 | €76,623 | +€74,531 | +3562.3% |
| Other tangible fixed assets | 26 | €590 | €493 | -€97 | -16.4% |
| Current assets | 29/58 | €4,037 | €4,593 | +€556 | +13.8% |
| Stocks and contracts in progress | 3 | €3,544 | €3,530 | -€14 | -0.4% |
| Stocks | 30/36 | €3,544 | €3,530 | -€14 | -0.4% |
| Amounts receivable within one year | 40/41 | €427 | €402 | -€25 | -5.8% |
| Trade receivables | 40 | €427 | - | -€427 | |
| Other amounts receivable | 41 | - | €402 | +€402 | |
| Cash at bank and in hand | 54/58 | €65 | €660 | +€595 | +912.9% |
| Total equity and liabilities | 10/49 | €6,719 | €81,709 | +€74,990 | +1116.0% |
| Equity | 10/15 | -€47,595 | -€51,537 | -€3,942 | -8.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€102,595 | -€106,537 | -€3,942 | -3.8% |
| Amounts payable | 17/49 | €54,315 | €133,246 | +€78,932 | +145.3% |
| Amounts payable within one year | 42/48 | €54,315 | €133,246 | +€78,932 | +145.3% |
| Trade debts | 44 | €230 | €491 | +€261 | +113.7% |
| Suppliers | 440/4 | €230 | €491 | +€261 | +113.7% |
| Taxes, remuneration and social security | 45 | €10 | - | -€10 | |
| Taxes | 450/3 | €10 | - | -€10 | |
| Other amounts payable | 47/48 | €54,075 | €132,755 | +€78,680 | +145.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €484 | €566 | +€82 | +17.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,465 | - | -€2,465 | |
| Other operating charges | 640/8 | - | €824 | +€824 | |
| Gross operating margin | 9900 | -€2,099 | -€2,364 | -€265 | -12.6% |
| Operating profit (loss) | 9901 | -€5,048 | -€3,753 | +€1,294 | +25.6% |
| Financial charges | 65/66B | €202 | €189 | -€14 | -6.8% |
| Recurring financial charges | 65 | €202 | €189 | -€14 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,250 | -€3,942 | +€1,308 | +24.9% |
| Profit (loss) for the period | 9904 | -€5,250 | -€3,942 | +€1,308 | +24.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,250 | -€3,942 | +€1,308 | +24.9% |
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.