BELASSUR: 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.
BELASSUR
Largest movements
- Tangible fixed assets -€10,740
down €10,740 (-50.0%), from €21,483 to €10,742
of which Furniture and vehicles: -€10,740
- Deferred charges and accrued income +€9,779
up €9,779 (+6.4%), from €152,576 to €162,354
- Receivables within one year -€8,485
down €8,485 (-90.5%), from €9,373 to €888
- Cash +€6,288
up €6,288 (+71.4%), from €8,804 to €15,091
mainly Net result for the year (+€63,943) and Trade debts (+€19,722)
- Intangible fixed assets -€2,423
down €2,423 (-25.0%), from €9,692 to €7,269
- Other debts -€20,452
down €20,452 (-24.2%), from €84,395 to €63,943
- Trade debts +€19,722
up €19,722 (+40.9%), from €48,193 to €67,916
- Debts after one year -€8,663
no longer reported in 2025 (was €8,663)
- Tax, wage and social debts +€3,478
up €3,478 (+8.8%), from €39,426 to €42,904
of which Taxes: +€4,750
- Staff costs +€40,301
up €40,301 (+31.0%), from €129,880 to €170,181
- Other operating charges -€10,530
down €10,530 (-84.1%), from €12,528 to €1,998
- Gross operating margin +€8,582
up €8,582 (+3.4%), from €251,945 to €260,527
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 | €205,127 | €199,545 | -€5,582 | -2.7% |
| Fixed assets | 21/28 | €34,375 | €21,211 | -€13,163 | -38.3% |
| Intangible fixed assets | 21 | €9,692 | €7,269 | -€2,423 | -25.0% |
| Tangible fixed assets | 22/27 | €21,483 | €10,742 | -€10,740 | -50.0% |
| Furniture and vehicles | 24 | €21,483 | €10,742 | -€10,740 | -50.0% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €3,200 | €3,200 | = | 0.0% |
| Current assets | 29/58 | €170,752 | €178,333 | +€7,582 | +4.4% |
| Amounts receivable within one year | 40/41 | €9,373 | €888 | -€8,485 | -90.5% |
| Other amounts receivable | 41 | €9,373 | €888 | -€8,485 | -90.5% |
| Cash at bank and in hand | 54/58 | €8,804 | €15,091 | +€6,288 | +71.4% |
| Deferred charges and accrued income | 490/1 | €152,576 | €162,354 | +€9,779 | +6.4% |
| Total equity and liabilities | 10/49 | €205,127 | €199,545 | -€5,582 | -2.7% |
| Equity | 10/15 | €16,120 | €16,120 | = | 0.0% |
| Contributions | 10/11 | €16,120 | €16,120 | = | 0.0% |
| Amounts payable | 17/49 | €189,007 | €183,425 | -€5,582 | -3.0% |
| Amounts payable after more than one year | 17 | €8,663 | - | -€8,663 | |
| Financial debts | 170/4 | €8,663 | - | -€8,663 | |
| Amounts payable within one year | 42/48 | €180,343 | €183,425 | +€3,081 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €8,330 | €8,663 | +€333 | +4.0% |
| Trade debts | 44 | €48,193 | €67,916 | +€19,722 | +40.9% |
| Suppliers | 440/4 | €48,193 | €67,916 | +€19,722 | +40.9% |
| Taxes, remuneration and social security | 45 | €39,426 | €42,904 | +€3,478 | +8.8% |
| Taxes | 450/3 | €10,138 | €14,889 | +€4,750 | +46.9% |
| Remuneration and social security | 454/9 | €29,287 | €28,015 | -€1,272 | -4.3% |
| Other amounts payable | 47/48 | €84,395 | €63,943 | -€20,452 | -24.2% |
| Remuneration, social security and pensions | 62 | €129,880 | €170,181 | +€40,301 | +31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,611 | €13,163 | -€448 | -3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€788 | - | +€788 | |
| Other operating charges | 640/8 | €12,528 | €1,998 | -€10,530 | -84.1% |
| Operating charges capitalised as restructuring costs | 649 | €0 | - | = | |
| Non-recurring operating charges | 66A | €3,381 | - | -€3,381 | |
| Gross operating margin | 9900 | €251,945 | €260,527 | +€8,582 | +3.4% |
| Operating profit (loss) | 9901 | €93,332 | €75,185 | -€18,147 | -19.4% |
| Financial charges | 65/66B | €1,108 | €854 | -€254 | -22.9% |
| Recurring financial charges | 65 | €1,108 | €854 | -€254 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €92,224 | €74,331 | -€17,893 | -19.4% |
| Income taxes | 67/77 | €8,327 | €10,389 | +€2,061 | +24.8% |
| Profit (loss) for the period | 9904 | €83,897 | €63,943 | -€19,954 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €83,897 | €63,943 | -€19,954 | -23.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.