BELCO SERVICES: 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.
BELCO SERVICES
Largest movements
- Deferred charges and accrued income +€2,289
up €2,289 (+4110.7%), from €56 to €2,345
- Receivables within one year -€1,916
down €1,916 (-5.2%), from €36,940 to €35,024
of which Trade receivables: -€1,032
- Other debts +€40,000
up €40,000 (+22222.2%), from €180 to €40,180
- Reserves -€38,182
down €38,182 (-47.4%), from €80,626 to €42,444
- Trade debts -€2,451
down €2,451 (-38.6%), from €6,348 to €3,897
- Gross operating margin -€49,426
down €49,426 (-90.6%), from €54,530 to €5,104
- Taxes -€11,926
down €11,926 (-91.0%), from €13,107 to €1,181
- Other operating charges -€2,739
down €2,739 (-64.4%), from €4,253 to €1,514
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 | €169,692 | €169,194 | -€498 | -0.3% |
| Fixed assets | 21/28 | €40,869 | €40,196 | -€673 | -1.6% |
| Tangible fixed assets | 22/27 | €40,715 | €40,043 | -€673 | -1.7% |
| Land and buildings | 22 | €39,446 | €39,446 | = | 0.0% |
| Furniture and vehicles | 24 | €1,269 | €597 | -€673 | -53.0% |
| Financial fixed assets | 28 | €154 | €154 | = | 0.0% |
| Current assets | 29/58 | €128,823 | €128,997 | +€174 | +0.1% |
| Amounts receivable within one year | 40/41 | €36,940 | €35,024 | -€1,916 | -5.2% |
| Trade receivables | 40 | €5,326 | €4,294 | -€1,032 | -19.4% |
| Other amounts receivable | 41 | €31,615 | €30,730 | -€885 | -2.8% |
| Cash at bank and in hand | 54/58 | €91,827 | €91,628 | -€198 | -0.2% |
| Deferred charges and accrued income | 490/1 | €56 | €2,345 | +€2,289 | +4110.7% |
| Total equity and liabilities | 10/49 | €169,692 | €169,194 | -€498 | -0.3% |
| Equity | 10/15 | €158,322 | €120,140 | -€38,182 | -24.1% |
| Contributions | 10/11 | €11,750 | €11,750 | = | 0.0% |
| Reserves | 13 | €80,626 | €42,444 | -€38,182 | -47.4% |
| Distributable reserves | 133 | €80,626 | €42,444 | -€38,182 | -47.4% |
| Profit (loss) carried forward | 14 | €65,946 | €65,946 | = | 0.0% |
| Amounts payable | 17/49 | €11,370 | €49,054 | +€37,684 | +331.4% |
| Amounts payable within one year | 42/48 | €11,370 | €49,054 | +€37,684 | +331.4% |
| Trade debts | 44 | €6,348 | €3,897 | -€2,451 | -38.6% |
| Suppliers | 440/4 | €6,348 | €3,897 | -€2,451 | -38.6% |
| Taxes, remuneration and social security | 45 | €4,842 | €4,977 | +€135 | +2.8% |
| Taxes | 450/3 | €4,842 | €4,977 | +€135 | +2.8% |
| Other amounts payable | 47/48 | €180 | €40,180 | +€40,000 | +22222.2% |
| Non-recurring operating income | 76A | €1,942 | €2,892 | +€950 | +48.9% |
| Remuneration, social security and pensions | 62 | €1,739 | €1,583 | -€156 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €673 | €673 | = | 0.0% |
| Other operating charges | 640/8 | €4,253 | €1,514 | -€2,739 | -64.4% |
| Gross operating margin | 9900 | €54,530 | €5,104 | -€49,426 | -90.6% |
| Operating profit (loss) | 9901 | €47,866 | €1,334 | -€46,531 | -97.2% |
| Financial income | 75/76B | €1,630 | €1,837 | +€206 | +12.7% |
| Recurring financial income | 75 | €1,630 | €1,837 | +€206 | +12.7% |
| Financial charges | 65/66B | €401 | €172 | -€228 | -57.0% |
| Recurring financial charges | 65 | €401 | €172 | -€228 | -57.0% |
| Profit (loss) for the period before taxes | 9903 | €49,096 | €2,999 | -€46,096 | -93.9% |
| Income taxes | 67/77 | €13,107 | €1,181 | -€11,926 | -91.0% |
| Profit (loss) for the period | 9904 | €35,988 | €1,818 | -€34,171 | -94.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,988 | €1,818 | -€34,171 | -94.9% |
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 10 October 2026 via checked.be.