BELCOVIA: 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.
BELCOVIA
Largest movements
- Receivables within one year -€172,495
down €172,495 (-34.0%), from €507,958 to €335,463
of which Trade receivables: -€183,753
- Other debts -€175,000
down €175,000 (-54.7%), from €320,000 to €145,000
- Gross operating margin -€174,631
down €174,631 (-54.0%), from €323,598 to €148,967
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 | €3,909,963 | €3,737,840 | -€172,123 | -4.4% |
| Fixed assets | 21/28 | €3,400,000 | €3,400,000 | = | 0.0% |
| Financial fixed assets | 28 | €3,400,000 | €3,400,000 | = | 0.0% |
| Current assets | 29/58 | €509,963 | €337,840 | -€172,123 | -33.8% |
| Amounts receivable within one year | 40/41 | €507,958 | €335,463 | -€172,495 | -34.0% |
| Trade receivables | 40 | €454,750 | €270,997 | -€183,753 | -40.4% |
| Other amounts receivable | 41 | €53,208 | €64,466 | +€11,258 | +21.2% |
| Cash at bank and in hand | 54/58 | €2,006 | €2,377 | +€372 | +18.5% |
| Total equity and liabilities | 10/49 | €3,909,963 | €3,737,840 | -€172,123 | -4.4% |
| Equity | 10/15 | €3,589,271 | €3,591,358 | +€2,087 | +0.1% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €3,389,271 | €3,391,358 | +€2,087 | +0.1% |
| Distributable reserves | 133 | €3,389,271 | €3,391,358 | +€2,087 | +0.1% |
| Amounts payable | 17/49 | €320,692 | €146,481 | -€174,210 | -54.3% |
| Amounts payable within one year | 42/48 | €320,692 | €146,481 | -€174,210 | -54.3% |
| Trade debts | 44 | - | €30 | +€30 | |
| Suppliers | 440/4 | - | €30 | +€30 | |
| Taxes, remuneration and social security | 45 | €692 | €1,451 | +€760 | +110% |
| Taxes | 450/3 | €692 | €1,451 | +€760 | +110% |
| Other amounts payable | 47/48 | €320,000 | €145,000 | -€175,000 | -54.7% |
| Other operating charges | 640/8 | €1,030 | €1,060 | +€31 | +3.0% |
| Gross operating margin | 9900 | €323,598 | €148,967 | -€174,631 | -54.0% |
| Operating profit (loss) | 9901 | €322,568 | €147,907 | -€174,662 | -54.1% |
| Financial charges | 65/66B | €30 | €60 | +€30 | +100% |
| Recurring financial charges | 65 | €30 | €60 | +€30 | +100% |
| Profit (loss) for the period before taxes | 9903 | €322,538 | €147,847 | -€174,692 | -54.2% |
| Income taxes | 67/77 | €692 | €760 | +€68 | +9.8% |
| Profit (loss) for the period | 9904 | €321,847 | €147,087 | -€174,760 | -54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €321,847 | €147,087 | -€174,760 | -54.3% |
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 14 October 2026 via checked.be.