BELFIND: 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.
BELFIND
Largest movements
- Receivables within one year +€101,006
up €101,006 (+115.8%), from €87,221 to €188,228
of which Other amounts receivable: +€117,184
- Profit (loss) carried forward +€56,938
up €56,938 (+69.2%), from €82,261 to €139,198
- Tax, wage and social debts +€23,671
up €23,671 (+130.7%), from €18,113 to €41,784
- Trade debts +€22,100
up €22,100 (+85.3%), from €25,915 to €48,015
- Gross operating margin +€4,713
up €4,713 (+7.5%), from €62,579 to €67,291
- Financial income +€3,240
up €3,240 (+130.8%), from €2,477 to €5,717
- Taxes +€1,773
up €1,773 (+13.6%), from €13,016 to €14,790
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 | €129,288 | €231,997 | +€102,709 | +79.4% |
| Fixed assets | 21/28 | €50 | €50 | = | 0.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €129,238 | €231,947 | +€102,709 | +79.5% |
| Amounts receivable within one year | 40/41 | €87,221 | €188,228 | +€101,006 | +115.8% |
| Trade receivables | 40 | €40,317 | €24,140 | -€16,178 | -40.1% |
| Other amounts receivable | 41 | €46,904 | €164,088 | +€117,184 | +249.8% |
| Cash at bank and in hand | 54/58 | €42,017 | €43,719 | +€1,702 | +4.1% |
| Total equity and liabilities | 10/49 | €129,288 | €231,997 | +€102,709 | +79.4% |
| Equity | 10/15 | €85,261 | €142,198 | +€56,938 | +66.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,261 | €139,198 | +€56,938 | +69.2% |
| Amounts payable | 17/49 | €44,028 | €89,799 | +€45,771 | +104.0% |
| Amounts payable within one year | 42/48 | €44,028 | €89,799 | +€45,771 | +104.0% |
| Trade debts | 44 | €25,915 | €48,015 | +€22,100 | +85.3% |
| Suppliers | 440/4 | €25,915 | €48,015 | +€22,100 | +85.3% |
| Taxes, remuneration and social security | 45 | €18,113 | €41,784 | +€23,671 | +130.7% |
| Taxes | 450/3 | €18,113 | €41,784 | +€23,671 | +130.7% |
| Remuneration, social security and pensions | 62 | - | €595 | +€595 | |
| Other operating charges | 640/8 | €75 | €475 | +€400 | +533.0% |
| Gross operating margin | 9900 | €62,579 | €67,291 | +€4,713 | +7.5% |
| Operating profit (loss) | 9901 | €62,504 | €66,221 | +€3,718 | +5.9% |
| Financial income | 75/76B | €2,477 | €5,717 | +€3,240 | +130.8% |
| Recurring financial income | 75 | €2,477 | €5,717 | +€3,240 | +130.8% |
| Financial charges | 65/66B | €146 | €211 | +€64 | +44.0% |
| Recurring financial charges | 65 | €146 | €211 | +€64 | +44.0% |
| Profit (loss) for the period before taxes | 9903 | €64,834 | €71,727 | +€6,893 | +10.6% |
| Income taxes | 67/77 | €13,016 | €14,790 | +€1,773 | +13.6% |
| Profit (loss) for the period | 9904 | €51,818 | €56,938 | +€5,120 | +9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €51,818 | €56,938 | +€5,120 | +9.9% |
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 10 October 2026 via checked.be.