BELBANA: 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.
BELBANA
Largest movements
- Cash +€586,783
up €586,783 (+3088.8%), from €18,997 to €605,780
mainly Trade debts (+€428,679) and Current portion of long-term debt (+€373,322)
- Receivables within one year -€201,109
down €201,109 (-16.3%), from €1.2m to €1.0m
of which Trade receivables: -€325,309
- Deferred charges and accrued income -€50,634
down €50,634 (-23.8%), from €213,049 to €162,415
- Trade debts +€428,679
up €428,679 (+85.6%), from €500,612 to €929,290
- Current portion of long-term debt +€373,322
up €373,322 (+378.1%), from €98,734 to €472,056
- Short-term financial debts -€323,868
no longer reported in 2025 (was €323,868)
- Debts after one year -€122,056
down €122,056 (-16.6%), from €737,126 to €615,070
- Other debts -€41,568
down €41,568 (-66.7%), from €62,304 to €20,736
- Gross operating margin -€51,813
down €51,813 (-32.3%), from €160,371 to €108,557
- Financial charges -€38,769
down €38,769 (-39.1%), from €99,030 to €60,261
- Write-downs +€16,992
no longer reported in 2025 (was -€16,992)
- Other operating charges -€16,878
down €16,878 (-79.9%), from €21,122 to €4,243
- Taxes -€14,115
down €14,115 (-71.8%), from €19,653 to €5,538
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 | €2,552,697 | €2,876,007 | +€323,310 | +12.7% |
| Fixed assets | 21/28 | €1,089,680 | €1,077,950 | -€11,729 | -1.1% |
| Tangible fixed assets | 22/27 | €1,089,680 | €1,077,950 | -€11,729 | -1.1% |
| Land and buildings | 22 | €1,067,904 | €1,063,647 | -€4,258 | -0.4% |
| Plant, machinery and equipment | 23 | €14,248 | €9,520 | -€4,728 | -33.2% |
| Furniture and vehicles | 24 | €7,527 | €4,783 | -€2,744 | -36.5% |
| Current assets | 29/58 | €1,463,017 | €1,798,057 | +€335,040 | +22.9% |
| Amounts receivable within one year | 40/41 | €1,230,972 | €1,029,862 | -€201,109 | -16.3% |
| Trade receivables | 40 | €641,995 | €316,686 | -€325,309 | -50.7% |
| Other amounts receivable | 41 | €588,977 | €713,176 | +€124,200 | +21.1% |
| Cash at bank and in hand | 54/58 | €18,997 | €605,780 | +€586,783 | +3088.8% |
| Deferred charges and accrued income | 490/1 | €213,049 | €162,415 | -€50,634 | -23.8% |
| Total equity and liabilities | 10/49 | €2,552,697 | €2,876,007 | +€323,310 | +12.7% |
| Equity | 10/15 | €680,667 | €696,751 | +€16,084 | +2.4% |
| Contributions | 10/11 | €315,000 | €315,000 | = | 0.0% |
| Capital | 10 | €315,000 | - | -€315,000 | |
| Issued capital | 100 | €315,000 | - | -€315,000 | |
| Reserves | 13 | €365,667 | €381,751 | +€16,084 | +4.4% |
| Non-distributable reserves | 130/1 | €31,500 | €31,500 | = | 0.0% |
| Legal reserve | 130 | €31,500 | - | -€31,500 | |
| Reserves not available under the articles | 1311 | - | €31,500 | +€31,500 | |
| Tax-exempt reserves | 132 | €250,936 | €241,642 | -€9,294 | -3.7% |
| Distributable reserves | 133 | €83,231 | €108,609 | +€25,377 | +30.5% |
| Provisions and deferred taxes | 16 | €105,406 | €101,502 | -€3,904 | -3.7% |
| Deferred taxes | 168 | €105,406 | €101,502 | -€3,904 | -3.7% |
| Amounts payable | 17/49 | €1,766,624 | €2,077,755 | +€311,131 | +17.6% |
| Amounts payable after more than one year | 17 | €737,126 | €615,070 | -€122,056 | -16.6% |
| Financial debts | 170/4 | €737,126 | €615,070 | -€122,056 | -16.6% |
| Amounts payable within one year | 42/48 | €1,005,491 | €1,462,685 | +€457,194 | +45.5% |
| Current portion of amounts payable after more than one year | 42 | €98,734 | €472,056 | +€373,322 | +378.1% |
| Financial debts | 43 | €323,868 | - | -€323,868 | |
| Credit institutions | 430/8 | €323,868 | - | -€323,868 | |
| Trade debts | 44 | €500,612 | €929,290 | +€428,679 | +85.6% |
| Suppliers | 440/4 | €500,612 | €929,290 | +€428,679 | +85.6% |
| Advances received on contracts in progress | 46 | - | €23,997 | +€23,997 | |
| Taxes, remuneration and social security | 45 | €19,974 | €16,606 | -€3,368 | -16.9% |
| Taxes | 450/3 | €19,974 | €16,606 | -€3,368 | -16.9% |
| Other amounts payable | 47/48 | €62,304 | €20,736 | -€41,568 | -66.7% |
| Accrued charges and deferred income | 492/3 | €24,007 | - | -€24,007 | |
| Non-recurring operating income | 76A | €90,208 | - | -€90,208 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,740 | €36,232 | +€1,492 | +4.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€16,992 | - | +€16,992 | |
| Other operating charges | 640/8 | €21,122 | €4,243 | -€16,878 | -79.9% |
| Gross operating margin | 9900 | €160,371 | €108,557 | -€51,813 | -32.3% |
| Operating profit (loss) | 9901 | €121,500 | €68,082 | -€53,419 | -44.0% |
| Financial income | 75/76B | €325 | €9,897 | +€9,572 | +2949.5% |
| Recurring financial income | 75 | €325 | €9,897 | +€9,572 | +2949.5% |
| Financial charges | 65/66B | €99,030 | €60,261 | -€38,769 | -39.1% |
| Recurring financial charges | 65 | €99,030 | €60,261 | -€38,769 | -39.1% |
| Profit (loss) for the period before taxes | 9903 | €22,795 | €17,717 | -€5,078 | -22.3% |
| Transfer from deferred taxes | 780 | €3,904 | €3,904 | = | 0.0% |
| Income taxes | 67/77 | €19,653 | €5,538 | -€14,115 | -71.8% |
| Profit (loss) for the period | 9904 | €7,046 | €16,084 | +€9,038 | +128.3% |
| Transfer from tax-exempt reserves | 789 | €9,294 | €9,294 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,340 | €25,377 | +€9,038 | +55.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.