BELFLEUR: 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.
BELFLEUR
Largest movements
- Receivables within one year -€142,361
down €142,361 (-60.0%), from €237,275 to €94,914
of which Trade receivables: -€142,361
- Cash +€80,395
up €80,395 (+836.3%), from €9,613 to €90,009
mainly Receivables within one year (+€142,361) and Net result for the year (+€11,031)
- Tax, wage and social debts -€35,627
down €35,627 (-84.9%), from €41,987 to €6,360
of which Taxes: -€30,480
- Other debts -€18,969
down €18,969 (-63.2%), from €30,000 to €11,031
- Current portion of long-term debt -€11,534
down €11,534 (-100.0%), from €11,534 to €0
- Staff costs -€19,978
down €19,978, from €18,989 to -€989
- Gross operating margin -€13,851
down €13,851 (-38.6%), from €35,841 to €21,990
- Financial charges -€7,224
down €7,224 (-79.7%), from €9,063 to €1,839
of which Financial charges: -€7,224
- Taxes +€2,644
up €2,644 (+105.8%), from €2,500 to €5,144
- Other operating charges +€972
up €972 (+75.4%), from €1,290 to €2,262
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 | €254,339 | €187,903 | -€66,436 | -26.1% |
| Fixed assets | 21/28 | €6,741 | €2,980 | -€3,761 | -55.8% |
| Tangible fixed assets | 22/27 | €5,341 | €2,980 | -€2,361 | -44.2% |
| Plant, machinery and equipment | 23 | €1,329 | €937 | -€392 | -29.5% |
| Furniture and vehicles | 24 | €2,629 | €1,711 | -€918 | -34.9% |
| Leasing and similar rights | 25 | €1,382 | €332 | -€1,050 | -76.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €1,400 | €0 | -€1,400 | -100.0% |
| Current assets | 29/58 | €247,598 | €184,923 | -€62,675 | -25.3% |
| Amounts receivable within one year | 40/41 | €237,275 | €94,914 | -€142,361 | -60.0% |
| Trade receivables | 40 | €237,275 | €94,914 | -€142,361 | -60.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €9,613 | €90,009 | +€80,395 | +836.3% |
| Deferred charges and accrued income | 490/1 | €709 | €0 | -€709 | -100.0% |
| Total equity and liabilities | 10/49 | €254,339 | €187,903 | -€66,436 | -26.1% |
| Equity | 10/15 | €153,661 | €153,661 | = | 0.0% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €73,100 | €73,100 | = | 0.0% |
| Distributable reserves | 133 | €73,100 | €73,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,561 | €49,561 | = | 0.0% |
| Amounts payable | 17/49 | €100,679 | €34,243 | -€66,436 | -66.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €100,679 | €34,243 | -€66,436 | -66.0% |
| Current portion of amounts payable after more than one year | 42 | €11,534 | €0 | -€11,534 | -100.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €17,157 | €16,852 | -€305 | -1.8% |
| Suppliers | 440/4 | €17,157 | €16,852 | -€305 | -1.8% |
| Taxes, remuneration and social security | 45 | €41,987 | €6,360 | -€35,627 | -84.9% |
| Taxes | 450/3 | €36,840 | €6,360 | -€30,480 | -82.7% |
| Remuneration and social security | 454/9 | €5,147 | €0 | -€5,147 | -100.0% |
| Other amounts payable | 47/48 | €30,000 | €11,031 | -€18,969 | -63.2% |
| Non-recurring operating income | 76A | €250 | - | -€250 | |
| Remuneration, social security and pensions | 62 | €18,989 | -€989 | -€19,978 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,367 | €2,703 | -€663 | -19.7% |
| Other operating charges | 640/8 | €1,290 | €2,262 | +€972 | +75.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €35,841 | €21,990 | -€13,851 | -38.6% |
| Operating profit (loss) | 9901 | €12,196 | €18,014 | +€5,818 | +47.7% |
| Financial income | 75/76B | €492 | €0 | -€492 | -100.0% |
| Recurring financial income | 75 | €492 | €0 | -€492 | -100.0% |
| Financial charges | 65/66B | €9,063 | €1,839 | -€7,224 | -79.7% |
| Recurring financial charges | 65 | €9,063 | €1,839 | -€7,224 | -79.7% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €3,626 | €16,175 | +€12,549 | +346.1% |
| Income taxes | 67/77 | €2,500 | €5,144 | +€2,644 | +105.8% |
| Profit (loss) for the period | 9904 | €1,126 | €11,031 | +€9,905 | +879.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,126 | €11,031 | +€9,905 | +879.9% |
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 3 October 2026 via checked.be.