BELFA - TRADING: 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.
BELFA - TRADING
Largest movements
- Tangible fixed assets -€5,161
down €5,161 (-8.4%), from €61,736 to €56,574
- Debts after one year -€13,000
down €13,000 (-76.7%), from €16,950 to €3,950
- Other debts +€10,631
up €10,631 (+12.7%), from €83,886 to €94,516
- Profit (loss) carried forward -€2,593
down €2,593 (-2.1%), from -€120,727 to -€123,320
- Gross operating margin +€1,078
up €1,078 (+13.4%), from €8,055 to €9,134
- Other operating charges -€130
down €130 (-2.8%), from €4,602 to €4,471
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 | €62,103 | €56,651 | -€5,452 | -8.8% |
| Fixed assets | 21/28 | €61,736 | €56,574 | -€5,161 | -8.4% |
| Tangible fixed assets | 22/27 | €61,736 | €56,574 | -€5,161 | -8.4% |
| Land and buildings | 22 | €61,736 | €56,574 | -€5,161 | -8.4% |
| Current assets | 29/58 | €367 | €76 | -€290 | -79.2% |
| Cash at bank and in hand | 54/58 | €367 | €76 | -€290 | -79.2% |
| Total equity and liabilities | 10/49 | €62,103 | €56,651 | -€5,452 | -8.8% |
| Equity | 10/15 | -€39,708 | -€42,301 | -€2,593 | -6.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | - | -€62,000 | |
| Issued capital | 100 | €62,000 | - | -€62,000 | |
| Reserves | 13 | €19,019 | €19,019 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | - | -€6,200 | |
| Reserves not available under the articles | 1311 | - | €6,200 | +€6,200 | |
| Tax-exempt reserves | 132 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €319 | €319 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€120,727 | -€123,320 | -€2,593 | -2.1% |
| Amounts payable | 17/49 | €101,811 | €98,952 | -€2,859 | -2.8% |
| Amounts payable after more than one year | 17 | €16,950 | €3,950 | -€13,000 | -76.7% |
| Financial debts | 170/4 | €16,950 | €3,950 | -€13,000 | -76.7% |
| Amounts payable within one year | 42/48 | €84,461 | €94,667 | +€10,206 | +12.1% |
| Trade debts | 44 | €576 | €151 | -€425 | -73.8% |
| Suppliers | 440/4 | €576 | €151 | -€425 | -73.8% |
| Other amounts payable | 47/48 | €83,886 | €94,516 | +€10,631 | +12.7% |
| Accrued charges and deferred income | 492/3 | €399 | €335 | -€64 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,174 | €5,161 | -€13 | -0.2% |
| Other operating charges | 640/8 | €4,602 | €4,471 | -€130 | -2.8% |
| Gross operating margin | 9900 | €8,055 | €9,134 | +€1,078 | +13.4% |
| Operating profit (loss) | 9901 | -€1,721 | -€499 | +€1,221 | +71.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,065 | €2,094 | +€29 | +1.4% |
| Recurring financial charges | 65 | €2,065 | €2,094 | +€29 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,786 | -€2,593 | +€1,193 | +31.5% |
| Profit (loss) for the period | 9904 | -€3,786 | -€2,593 | +€1,193 | +31.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,786 | -€2,593 | +€1,193 | +31.5% |
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 20 October 2026 via checked.be.