BELCROOM: what changed
Two fiscal 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.
BELCROOM
Largest movements
- Stocks and contracts -€950,427
down €950,427 (-78.6%), from €1.2m to €258,862
- Tangible fixed assets -€161,069
down €161,069 (-5.2%), from €3.1m to €2.9m
of which Leasing and similar rights: -€96,937
- Current investments +€94,755
new in 2025: €94,755
- Cash -€89,934
down €89,934 (-7.1%), from €1.3m to €1.2m
mainly Contributions, distributions and other (-€750,000) and Debts after one year (-€211,248)
- Reserves -€747,034
down €747,034 (-31.5%), from €2.4m to €1.6m
of which Distributable reserves: -€620,120
- Debts after one year -€211,248
down €211,248 (-9.3%), from €2.3m to €2.1m
- Trade debts -€91,452
down €91,452 (-29.5%), from €310,249 to €218,797
- Gross operating margin -€1.7m
down €1.7m (-70.2%), from €2.4m to €706,323
- Taxes -€173,165
down €173,165 (-80.3%), from €215,735 to €42,570
- Staff costs -€115,028
down €115,028 (-27.9%), from €412,671 to €297,644
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 | €5,764,793 | €4,700,777 | -€1.1m | -18.5% |
| Fixed assets | 21/28 | €3,106,253 | €2,944,099 | -€162,154 | -5.2% |
| Intangible fixed assets | 21 | €1,720 | €635 | -€1,085 | -63.1% |
| Tangible fixed assets | 22/27 | €3,104,283 | €2,943,214 | -€161,069 | -5.2% |
| Land and buildings | 22 | €2,007,662 | €1,915,457 | -€92,205 | -4.6% |
| Plant, machinery and equipment | 23 | €329,957 | €361,904 | +€31,946 | +9.7% |
| Furniture and vehicles | 24 | €6,263 | €2,390 | -€3,873 | -61.8% |
| Leasing and similar rights | 25 | €760,401 | €663,464 | -€96,937 | -12.7% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €2,658,541 | €1,756,678 | -€901,862 | -33.9% |
| Stocks and contracts in progress | 3 | €1,209,288 | €258,862 | -€950,427 | -78.6% |
| Stocks | 30/36 | €1,209,288 | €258,862 | -€950,427 | -78.6% |
| Amounts receivable within one year | 40/41 | €170,420 | €214,763 | +€44,343 | +26.0% |
| Trade receivables | 40 | €71,558 | €172,303 | +€100,745 | +140.8% |
| Other amounts receivable | 41 | €98,862 | €42,460 | -€56,402 | -57.1% |
| Current investments | 50/53 | - | €94,755 | +€94,755 | |
| Cash at bank and in hand | 54/58 | €1,266,015 | €1,176,082 | -€89,934 | -7.1% |
| Deferred charges and accrued income | 490/1 | €12,817 | €12,217 | -€600 | -4.7% |
| Total equity and liabilities | 10/49 | €5,764,793 | €4,700,777 | -€1.1m | -18.5% |
| Equity | 10/15 | €2,535,284 | €1,788,250 | -€747,034 | -29.5% |
| Contributions | 10/11 | €162,344 | €162,344 | = | 0.0% |
| Reserves | 13 | €2,372,940 | €1,625,906 | -€747,034 | -31.5% |
| Tax-exempt reserves | 132 | €1,427,682 | €1,300,768 | -€126,914 | -8.9% |
| Distributable reserves | 133 | €945,258 | €325,138 | -€620,120 | -65.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €356,920 | €325,192 | -€31,729 | -8.9% |
| Deferred taxes | 168 | €356,920 | €325,192 | -€31,729 | -8.9% |
| Amounts payable | 17/49 | €2,872,589 | €2,587,336 | -€285,253 | -9.9% |
| Amounts payable after more than one year | 17 | €2,282,320 | €2,071,072 | -€211,248 | -9.3% |
| Financial debts | 170/4 | €2,282,320 | €2,071,072 | -€211,248 | -9.3% |
| Amounts payable within one year | 42/48 | €582,947 | €500,438 | -€82,510 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €211,401 | €213,998 | +€2,597 | +1.2% |
| Trade debts | 44 | €310,249 | €218,797 | -€91,452 | -29.5% |
| Suppliers | 440/4 | €310,249 | €218,797 | -€91,452 | -29.5% |
| Advances received on contracts in progress | 46 | €2,934 | €9,473 | +€6,539 | +222.9% |
| Taxes, remuneration and social security | 45 | €58,362 | €58,170 | -€192 | -0.3% |
| Taxes | 450/3 | €22,601 | €10,845 | -€11,756 | -52.0% |
| Remuneration and social security | 454/9 | €35,760 | €47,325 | +€11,564 | +32.3% |
| Other amounts payable | 47/48 | €2 | €0 | -€2 | -100.0% |
| Accrued charges and deferred income | 492/3 | €7,322 | €15,826 | +€8,504 | +116.2% |
| Remuneration, social security and pensions | 62 | €412,671 | €297,644 | -€115,028 | -27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €283,532 | €289,821 | +€6,289 | +2.2% |
| Other operating charges | 640/8 | €11,543 | €10,671 | -€873 | -7.6% |
| Gross operating margin | 9900 | €2,368,007 | €706,323 | -€1.7m | -70.2% |
| Operating profit (loss) | 9901 | €1,660,261 | €108,188 | -€1.6m | -93.5% |
| Financial income | 75/76B | €200 | €274 | +€74 | +37.1% |
| Recurring financial income | 75 | €200 | €274 | +€74 | +37.1% |
| Financial charges | 65/66B | €99,443 | €94,655 | -€4,788 | -4.8% |
| Recurring financial charges | 65 | €99,443 | €94,655 | -€4,788 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €1,561,018 | €13,807 | -€1.5m | -99.1% |
| Transfer from deferred taxes | 780 | €31,731 | €31,729 | -€3 | 0.0% |
| Income taxes | 67/77 | €215,735 | €42,570 | -€173,165 | -80.3% |
| Profit (loss) for the period | 9904 | €1,377,014 | €2,966 | -€1.4m | -99.8% |
| Transfer from tax-exempt reserves | 789 | €126,924 | €126,914 | -€10 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,503,938 | €129,880 | -€1.4m | -91.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.