BELFIBA: 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.
BELFIBA
Largest movements
- Cash +€57,034
up €57,034 (+6.9%), from €825,268 to €882,301
mainly Net result for the year (+€188,270) and Other debts (+€119,542)
- Receivables within one year +€35,852
up €35,852 (+70.4%), from €50,951 to €86,803
of which Trade receivables: +€29,921
- Tangible fixed assets -€25,330
down €25,330 (-39.7%), from €63,830 to €38,501
of which Furniture and vehicles: -€19,249
- Other debts +€119,542
up €119,542 (+113%), from €105,608 to €225,150
- Reserves -€52,000
down €52,000 (-8.2%), from €633,464 to €581,464
of which Distributable reserves: -€52,000
- Gross operating margin +€13,117
up €13,117 (+3.3%), from €398,847 to €411,964
- Write-downs +€6,396
up €6,396 (+176%), from €3,637 to €10,033
- Staff costs +€5,164
up €5,164 (+4.2%), from €122,078 to €127,242
- Financial income +€5,008
up €5,008 (+23.9%), from €20,979 to €25,988
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 | €947,202 | €1,021,394 | +€74,192 | +7.8% |
| Fixed assets | 21/28 | €63,909 | €38,579 | -€25,330 | -39.6% |
| Tangible fixed assets | 22/27 | €63,830 | €38,501 | -€25,330 | -39.7% |
| Plant, machinery and equipment | 23 | €15,988 | €9,908 | -€6,080 | -38.0% |
| Furniture and vehicles | 24 | €47,842 | €28,593 | -€19,249 | -40.2% |
| Financial fixed assets | 28 | €78 | €78 | = | 0.0% |
| Current assets | 29/58 | €883,293 | €982,815 | +€99,522 | +11.3% |
| Amounts receivable within one year | 40/41 | €50,951 | €86,803 | +€35,852 | +70.4% |
| Trade receivables | 40 | €48,029 | €77,951 | +€29,921 | +62.3% |
| Other amounts receivable | 41 | €2,921 | €8,852 | +€5,931 | +203% |
| Cash at bank and in hand | 54/58 | €825,268 | €882,301 | +€57,034 | +6.9% |
| Deferred charges and accrued income | 490/1 | €7,074 | €13,710 | +€6,636 | +93.8% |
| Total equity and liabilities | 10/49 | €947,202 | €1,021,394 | +€74,192 | +7.8% |
| Equity | 10/15 | €802,613 | €750,884 | -€51,730 | -6.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €633,464 | €581,464 | -€52,000 | -8.2% |
| Tax-exempt reserves | 132 | €1,604 | €1,604 | = | 0.0% |
| Distributable reserves | 133 | €631,860 | €579,860 | -€52,000 | -8.2% |
| Profit (loss) carried forward | 14 | €150,549 | €150,820 | +€270 | +0.2% |
| Amounts payable | 17/49 | €144,588 | €270,510 | +€125,922 | +87.1% |
| Amounts payable within one year | 42/48 | €144,588 | €270,510 | +€125,922 | +87.1% |
| Trade debts | 44 | €5,586 | €6,586 | +€1,000 | +17.9% |
| Suppliers | 440/4 | €5,586 | €6,586 | +€1,000 | +17.9% |
| Taxes, remuneration and social security | 45 | €33,394 | €38,775 | +€5,380 | +16.1% |
| Taxes | 450/3 | €20,871 | €25,413 | +€4,542 | +21.8% |
| Remuneration and social security | 454/9 | €12,523 | €13,362 | +€839 | +6.7% |
| Other amounts payable | 47/48 | €105,608 | €225,150 | +€119,542 | +113% |
| Remuneration, social security and pensions | 62 | €122,078 | €127,242 | +€5,164 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,296 | €25,330 | -€966 | -3.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,637 | €10,033 | +€6,396 | +176% |
| Other operating charges | 640/8 | €4,066 | €1,988 | -€2,078 | -51.1% |
| Gross operating margin | 9900 | €398,847 | €411,964 | +€13,117 | +3.3% |
| Operating profit (loss) | 9901 | €242,770 | €247,372 | +€4,602 | +1.9% |
| Financial income | 75/76B | €20,979 | €25,988 | +€5,008 | +23.9% |
| Recurring financial income | 75 | €20,979 | €25,988 | +€5,008 | +23.9% |
| Financial charges | 65/66B | €375 | €751 | +€376 | +100% |
| Recurring financial charges | 65 | €375 | €751 | +€376 | +100% |
| Profit (loss) for the period before taxes | 9903 | €263,374 | €272,609 | +€9,235 | +3.5% |
| Income taxes | 67/77 | €84,455 | €84,339 | -€117 | -0.1% |
| Profit (loss) for the period | 9904 | €178,919 | €188,270 | +€9,351 | +5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €178,919 | €188,270 | +€9,351 | +5.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.