BELCOBIS: 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.
BELCOBIS
Largest movements
- Receivables within one year -€78,320
down €78,320 (-51.7%), from €151,632 to €73,312
- Cash +€70,613
up €70,613 (+36,818%), from €192 to €70,805
mainly Receivables within one year (+€78,320) and Depreciation (+€13,831)
- Tangible fixed assets -€13,831
down €13,831 (-3.8%), from €363,572 to €349,741
- Profit (loss) carried forward -€10,618
down €10,618 (-28.4%), from -€37,427 to -€48,044
- Reserves -€7,573
down €7,573 (-3.5%), from €216,792 to €209,219
of which Tax-exempt reserves: -€7,573
- Financial charges +€5,982
up €5,982 (+3,034%), from €197 to €6,179
- Depreciation -€3,880
down €3,880 (-21.9%), from €17,711 to €13,831
- Gross operating margin +€1,596
up €1,596, from -€1,573 to €23
- Other operating charges +€70
up €70 (+3.2%), from €2,226 to €2,297
- Financial income +€35
up €35 (+2.3%), from €1,535 to €1,570
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.
Derived cash bridge
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 | €515,395 | €493,875 | -€21,520 | -4.2% |
| Fixed assets | 21/28 | €363,572 | €349,741 | -€13,831 | -3.8% |
| Tangible fixed assets | 22/27 | €363,572 | €349,741 | -€13,831 | -3.8% |
| Land and buildings | 22 | €363,572 | €349,741 | -€13,831 | -3.8% |
| Current assets | 29/58 | €151,824 | €144,134 | -€7,689 | -5.1% |
| Amounts receivable within one year | 40/41 | €151,632 | €73,312 | -€78,320 | -51.7% |
| Other amounts receivable | 41 | €151,632 | €73,312 | -€78,320 | -51.7% |
| Cash at bank and in hand | 54/58 | €192 | €70,805 | +€70,613 | +36,818% |
| Deferred charges and accrued income | 490/1 | - | €17 | +€17 | |
| Total equity and liabilities | 10/49 | €515,395 | €493,875 | -€21,520 | -4.2% |
| Equity | 10/15 | €459,365 | €441,175 | -€18,190 | -4.0% |
| Contributions | 10/11 | €280,000 | €280,000 | = | 0.0% |
| Capital | 10 | €280,000 | €280,000 | = | 0.0% |
| Issued capital | 100 | €280,000 | €280,000 | = | 0.0% |
| Reserves | 13 | €216,792 | €209,219 | -€7,573 | -3.5% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €174,300 | €166,727 | -€7,573 | -4.3% |
| Distributable reserves | 133 | €32,492 | €32,492 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,427 | -€48,044 | -€10,618 | -28.4% |
| Provisions and deferred taxes | 16 | €53,997 | €51,473 | -€2,524 | -4.7% |
| Deferred taxes | 168 | €53,997 | €51,473 | -€2,524 | -4.7% |
| Amounts payable | 17/49 | €2,033 | €1,227 | -€806 | -39.6% |
| Amounts payable within one year | 42/48 | €1,016 | €19 | -€998 | -98.2% |
| Trade debts | 44 | €1,016 | €19 | -€998 | -98.2% |
| Suppliers | 440/4 | €1,016 | €19 | -€998 | -98.2% |
| Accrued charges and deferred income | 492/3 | €1,016 | €1,208 | +€192 | +18.9% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,711 | €13,831 | -€3,880 | -21.9% |
| Other operating charges | 640/8 | €2,226 | €2,297 | +€70 | +3.2% |
| Gross operating margin | 9900 | -€1,573 | €23 | +€1,596 | |
| Operating profit (loss) | 9901 | -€21,510 | -€16,104 | +€5,406 | +25.1% |
| Financial income | 75/76B | €1,535 | €1,570 | +€35 | +2.3% |
| Recurring financial income | 75 | €1,535 | €1,570 | +€35 | +2.3% |
| Financial charges | 65/66B | €197 | €6,179 | +€5,982 | +3,034% |
| Recurring financial charges | 65 | €197 | €6,179 | +€5,982 | +3,034% |
| Profit (loss) for the period before taxes | 9903 | -€20,172 | -€20,713 | -€541 | -2.7% |
| Transfer from deferred taxes | 780 | €2,524 | €2,524 | = | 0.0% |
| Income taxes | 67/77 | - | €2 | +€2 | |
| Profit (loss) for the period | 9904 | -€17,648 | -€18,190 | -€542 | -3.1% |
| Transfer from tax-exempt reserves | 789 | €7,573 | €7,573 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,075 | -€10,618 | -€542 | -5.4% |
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 17 October 2026 via checked.be.