Belemi: 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.
Belemi
Largest movements
- Current investments -€235,000
down €235,000 (-100.0%), from €235,000 to €0
- Cash +€47,369
up €47,369 (+156.7%), from €30,228 to €77,596
mainly Current investments (+€235,000) and Current portion of long-term debt (+€2,570)
- Debts after one year -€173,923
down €173,923 (-32.8%), from €529,634 to €355,711
- Financial income -€716,180
down €716,180 (-99.6%), from €719,215 to €3,035
of which Non-recurring financial income: -€711,846
- Taxes -€6,186
down €6,186, from €3,093 to -€3,093
- Financial charges -€2,553
down €2,553 (-20.1%), from €12,715 to €10,162
- Gross operating margin -€503
down €503 (-8.0%), from -€6,278 to -€6,781
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 | €3,877,272 | €3,692,323 | -€184,949 | -4.8% |
| Fixed assets | 21/28 | €3,610,544 | €3,610,544 | = | 0.0% |
| Financial fixed assets | 28 | €3,610,544 | €3,610,544 | = | 0.0% |
| Current assets | 29/58 | €266,728 | €81,779 | -€184,949 | -69.3% |
| Amounts receivable within one year | 40/41 | €250 | €4,004 | +€3,753 | +1499.4% |
| Other amounts receivable | 41 | €250 | €4,004 | +€3,753 | +1499.4% |
| Current investments | 50/53 | €235,000 | €0 | -€235,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €30,228 | €77,596 | +€47,369 | +156.7% |
| Deferred charges and accrued income | 490/1 | €1,250 | €180 | -€1,071 | -85.6% |
| Total equity and liabilities | 10/49 | €3,877,272 | €3,692,323 | -€184,949 | -4.8% |
| Equity | 10/15 | €3,168,937 | €3,156,980 | -€11,957 | -0.4% |
| Contributions | 10/11 | €2,418,000 | €2,418,000 | = | 0.0% |
| Capital | 10 | €2,418,000 | €2,418,000 | = | 0.0% |
| Issued capital | 100 | €2,418,000 | €2,418,000 | = | 0.0% |
| Reserves | 13 | €750,937 | €738,980 | -€11,957 | -1.6% |
| Non-distributable reserves | 130/1 | €160,000 | €160,000 | = | 0.0% |
| Legal reserve | 130 | €160,000 | €160,000 | = | 0.0% |
| Distributable reserves | 133 | €590,937 | €578,980 | -€11,957 | -2.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €708,335 | €535,344 | -€172,991 | -24.4% |
| Amounts payable after more than one year | 17 | €529,634 | €355,711 | -€173,923 | -32.8% |
| Financial debts | 170/4 | €529,634 | €355,711 | -€173,923 | -32.8% |
| Amounts payable within one year | 42/48 | €172,661 | €176,065 | +€3,404 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €171,353 | €173,923 | +€2,570 | +1.5% |
| Trade debts | 44 | €1,308 | €2,142 | +€834 | +63.7% |
| Suppliers | 440/4 | €1,308 | €2,142 | +€834 | +63.7% |
| Accrued charges and deferred income | 492/3 | €6,040 | €3,568 | -€2,472 | -40.9% |
| Other operating charges | 640/8 | €1,108 | €1,143 | +€35 | +3.1% |
| Gross operating margin | 9900 | -€6,278 | -€6,781 | -€503 | -8.0% |
| Operating profit (loss) | 9901 | -€7,386 | -€7,923 | -€537 | -7.3% |
| Financial income | 75/76B | €719,215 | €3,035 | -€716,180 | -99.6% |
| Recurring financial income | 75 | €7,370 | €3,035 | -€4,335 | -58.8% |
| Non-recurring financial income | 76B | €711,846 | €0 | -€711,846 | -100.0% |
| Financial charges | 65/66B | €12,715 | €10,162 | -€2,553 | -20.1% |
| Recurring financial charges | 65 | €12,715 | €10,162 | -€2,553 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €699,115 | -€15,050 | -€714,165 | |
| Income taxes | 67/77 | €3,093 | -€3,093 | -€6,186 | |
| Profit (loss) for the period | 9904 | €696,022 | -€11,957 | -€707,979 | |
| Profit (loss) for the period to be appropriated | 9905 | €696,022 | -€11,957 | -€707,979 |
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 28 September 2026 via checked.be.