BELCOM IMMO: 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.
BELCOM IMMO
Largest movements
- Tangible fixed assets -€21,466
down €21,466 (-29.0%), from €73,976 to €52,510
- Receivables within one year -€6,232
down €6,232 (-58.6%), from €10,632 to €4,400
of which Trade receivables: -€6,055
- Debts after one year -€24,095
down €24,095 (-52.0%), from €46,299 to €22,204
- Other debts -€20,764
down €20,764 (-59.5%), from €34,908 to €14,144
- Profit (loss) carried forward +€12,980
up €12,980 (+33.3%), from €38,945 to €51,925
- Gross operating margin -€32,033
down €32,033 (-37.3%), from €85,833 to €53,800
- Taxes -€7,861
down €7,861 (-53.6%), from €14,660 to €6,799
- Depreciation +€2,931
up €2,931 (+13.9%), from €21,106 to €24,038
- Other operating charges -€1,013
down €1,013 (-40.2%), from €2,519 to €1,506
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 | €234,882 | €206,957 | -€27,925 | -11.9% |
| Fixed assets | 21/28 | €73,976 | €52,510 | -€21,466 | -29.0% |
| Tangible fixed assets | 22/27 | €73,976 | €52,510 | -€21,466 | -29.0% |
| Furniture and vehicles | 24 | €73,976 | €52,510 | -€21,466 | -29.0% |
| Current assets | 29/58 | €160,906 | €154,447 | -€6,459 | -4.0% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 291 | €150,000 | €150,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,632 | €4,400 | -€6,232 | -58.6% |
| Trade receivables | 40 | €10,455 | €4,400 | -€6,055 | -57.9% |
| Other amounts receivable | 41 | €178 | - | -€178 | |
| Cash at bank and in hand | 54/58 | €274 | €47 | -€227 | -82.8% |
| Total equity and liabilities | 10/49 | €234,882 | €206,957 | -€27,925 | -11.9% |
| Equity | 10/15 | €100,945 | €113,925 | +€12,980 | +12.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,945 | €51,925 | +€12,980 | +33.3% |
| Amounts payable | 17/49 | €133,937 | €93,032 | -€40,905 | -30.5% |
| Amounts payable after more than one year | 17 | €46,299 | €22,204 | -€24,095 | -52.0% |
| Financial debts | 170/4 | €46,299 | €22,204 | -€24,095 | -52.0% |
| Amounts payable within one year | 42/48 | €87,638 | €70,828 | -€16,810 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €22,009 | €24,059 | +€2,050 | +9.3% |
| Trade debts | 44 | €7,532 | €7,934 | +€402 | +5.3% |
| Suppliers | 440/4 | €7,532 | €7,934 | +€402 | +5.3% |
| Taxes, remuneration and social security | 45 | €23,189 | €24,691 | +€1,502 | +6.5% |
| Taxes | 450/3 | €23,189 | €24,691 | +€1,502 | +6.5% |
| Other amounts payable | 47/48 | €34,908 | €14,144 | -€20,764 | -59.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,106 | €24,038 | +€2,931 | +13.9% |
| Other operating charges | 640/8 | €2,519 | €1,506 | -€1,013 | -40.2% |
| Gross operating margin | 9900 | €85,833 | €53,800 | -€32,033 | -37.3% |
| Operating profit (loss) | 9901 | €62,208 | €28,256 | -€33,951 | -54.6% |
| Financial income | 75/76B | €5,400 | €5,400 | = | 0.0% |
| Recurring financial income | 75 | €5,400 | €5,400 | = | 0.0% |
| Financial charges | 65/66B | €2,689 | €1,877 | -€812 | -30.2% |
| Recurring financial charges | 65 | €2,689 | €1,877 | -€812 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | €64,919 | €31,780 | -€33,139 | -51.0% |
| Income taxes | 67/77 | €14,660 | €6,799 | -€7,861 | -53.6% |
| Profit (loss) for the period | 9904 | €50,259 | €24,980 | -€25,279 | -50.3% |
| Profit (loss) for the period to be appropriated | 9905 | €50,259 | €24,980 | -€25,279 | -50.3% |
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.