BELEBATO: 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.
BELEBATO
Largest movements
- Financial fixed assets +€710,000
up €710,000 (+245.0%), from €289,809 to €999,809
- Tangible fixed assets -€43,499
down €43,499 (-7.7%), from €568,466 to €524,967
of which Land and buildings: -€45,620
- Other debts +€511,973
up €511,973 (+596.8%), from €85,788 to €597,761
- Reserves +€234,054
up €234,054 (+62.8%), from €372,690 to €606,744
- Debts after one year -€99,824
down €99,824 (-32.0%), from €311,625 to €211,801
- Tax, wage and social debts +€31,671
up €31,671 (+33.0%), from €96,019 to €127,690
- Short-term financial debts -€20,000
down €20,000 (-61.5%), from €32,500 to €12,500
- Gross operating margin +€228,649
up €228,649 (+105.3%), from €217,183 to €445,832
- Taxes +€65,459
up €65,459 (+126.9%), from €51,571 to €117,030
- Depreciation +€40,827
up €40,827 (+662.7%), from €6,161 to €46,988
- Financial charges -€9,507
down €9,507 (-39.6%), from €24,019 to €14,512
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 | €1,021,547 | €1,677,487 | +€655,940 | +64.2% |
| Fixed assets | 21/28 | €858,275 | €1,524,776 | +€666,501 | +77.7% |
| Tangible fixed assets | 22/27 | €568,466 | €524,967 | -€43,499 | -7.7% |
| Land and buildings | 22 | €566,878 | €521,258 | -€45,620 | -8.0% |
| Plant, machinery and equipment | 23 | €1,399 | €800 | -€599 | -42.8% |
| Furniture and vehicles | 24 | €189 | €2,909 | +€2,720 | +1439.2% |
| Financial fixed assets | 28 | €289,809 | €999,809 | +€710,000 | +245.0% |
| Current assets | 29/58 | €163,272 | €152,711 | -€10,561 | -6.5% |
| Stocks and contracts in progress | 3 | €4,269 | €1,599 | -€2,670 | -62.5% |
| Stocks | 30/36 | €4,269 | €1,599 | -€2,670 | -62.5% |
| Amounts receivable within one year | 40/41 | €151,963 | €146,300 | -€5,663 | -3.7% |
| Trade receivables | 40 | €151,874 | €96,250 | -€55,624 | -36.6% |
| Other amounts receivable | 41 | €89 | €50,050 | +€49,961 | +56136.0% |
| Cash at bank and in hand | 54/58 | €7,040 | €4,812 | -€2,228 | -31.6% |
| Total equity and liabilities | 10/49 | €1,021,547 | €1,677,487 | +€655,940 | +64.2% |
| Equity | 10/15 | €391,749 | €625,803 | +€234,054 | +59.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €372,690 | €606,744 | +€234,054 | +62.8% |
| Distributable reserves | 133 | €372,690 | €606,744 | +€234,054 | +62.8% |
| Profit (loss) carried forward | 14 | €59 | €59 | = | 0.0% |
| Amounts payable | 17/49 | €629,798 | €1,051,684 | +€421,886 | +67.0% |
| Amounts payable after more than one year | 17 | €311,625 | €211,801 | -€99,824 | -32.0% |
| Financial debts | 170/4 | €311,625 | €211,801 | -€99,824 | -32.0% |
| Amounts payable within one year | 42/48 | €318,173 | €839,883 | +€521,710 | +164.0% |
| Current portion of amounts payable after more than one year | 42 | €97,197 | €99,825 | +€2,628 | +2.7% |
| Financial debts | 43 | €32,500 | €12,500 | -€20,000 | -61.5% |
| Credit institutions | 430/8 | €32,500 | €12,500 | -€20,000 | -61.5% |
| Trade debts | 44 | €6,669 | €2,107 | -€4,562 | -68.4% |
| Suppliers | 440/4 | €6,669 | €2,107 | -€4,562 | -68.4% |
| Taxes, remuneration and social security | 45 | €96,019 | €127,690 | +€31,671 | +33.0% |
| Taxes | 450/3 | €96,019 | €127,690 | +€31,671 | +33.0% |
| Other amounts payable | 47/48 | €85,788 | €597,761 | +€511,973 | +596.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,161 | €46,988 | +€40,827 | +662.7% |
| Other operating charges | 640/8 | €3,123 | €3,254 | +€131 | +4.2% |
| Gross operating margin | 9900 | €217,183 | €445,832 | +€228,649 | +105.3% |
| Operating profit (loss) | 9901 | €207,899 | €395,590 | +€187,691 | +90.3% |
| Financial income | 75/76B | €13 | €6 | -€7 | -53.8% |
| Recurring financial income | 75 | €13 | €6 | -€7 | -53.8% |
| Financial charges | 65/66B | €24,019 | €14,512 | -€9,507 | -39.6% |
| Recurring financial charges | 65 | €24,019 | €14,512 | -€9,507 | -39.6% |
| Profit (loss) for the period before taxes | 9903 | €183,893 | €381,084 | +€197,191 | +107.2% |
| Income taxes | 67/77 | €51,571 | €117,030 | +€65,459 | +126.9% |
| Profit (loss) for the period | 9904 | €132,322 | €264,054 | +€131,732 | +99.6% |
| Profit (loss) for the period to be appropriated | 9905 | €132,322 | €264,054 | +€131,732 | +99.6% |
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.