BELFRAL: 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.
BELFRAL
Largest movements
- Receivables within one year -€1,326
down €1,326 (-11.9%), from €11,110 to €9,784
of which Other amounts receivable: -€1,326
- Cash +€1,252
up €1,252 (+47.4%), from €2,640 to €3,892
mainly Receivables within one year (+€1,326) and Net result for the year (+€162)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€449
down €449 (-17.4%), from €2,574 to €2,125
- Financial income +€76
up €76 (+88.1%), from €86 to €162
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 | €119,012 | €118,938 | -€74 | -0.1% |
| Fixed assets | 21/28 | €105,262 | €105,262 | = | 0.0% |
| Tangible fixed assets | 22/27 | €105,262 | €105,262 | = | 0.0% |
| Other tangible fixed assets | 26 | €105,262 | €105,262 | = | 0.0% |
| Current assets | 29/58 | €13,750 | €13,676 | -€74 | -0.5% |
| Amounts receivable within one year | 40/41 | €11,110 | €9,784 | -€1,326 | -11.9% |
| Trade receivables | 40 | €3,000 | €3,000 | = | 0.0% |
| Other amounts receivable | 41 | €8,110 | €6,784 | -€1,326 | -16.3% |
| Cash at bank and in hand | 54/58 | €2,640 | €3,892 | +€1,252 | +47.4% |
| Total equity and liabilities | 10/49 | €119,012 | €118,938 | -€74 | -0.1% |
| Equity | 10/15 | €43,119 | €43,281 | +€162 | +0.4% |
| Contributions | 10/11 | €952 | €952 | = | 0.0% |
| Reserves | 13 | €1,843 | €1,843 | = | 0.0% |
| Non-distributable reserves | 130/1 | €95 | €95 | = | 0.0% |
| Reserves not available under the articles | 1311 | €95 | €95 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,748 | €1,748 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,324 | €40,486 | +€162 | +0.4% |
| Amounts payable | 17/49 | €75,893 | €75,658 | -€235 | -0.3% |
| Amounts payable after more than one year | 17 | €74,408 | €74,408 | = | 0.0% |
| Financial debts | 170/4 | €74,408 | €74,408 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,485 | €1,250 | -€235 | -15.8% |
| Trade debts | 44 | €1,485 | €1,250 | -€235 | -15.8% |
| Suppliers | 440/4 | €1,485 | €1,250 | -€235 | -15.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Other operating charges | 640/8 | €472 | €487 | +€15 | +3.2% |
| Gross operating margin | 9900 | €2,574 | €2,125 | -€449 | -17.4% |
| Operating profit (loss) | 9901 | €2,101 | €1,638 | -€464 | -22.1% |
| Financial income | 75/76B | €86 | €162 | +€76 | +88.1% |
| Recurring financial income | 75 | €86 | €162 | +€76 | +88.1% |
| Financial charges | 65/66B | €1,654 | €1,638 | -€16 | -1.0% |
| Recurring financial charges | 65 | €1,654 | €1,638 | -€16 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €533 | €162 | -€372 | -69.7% |
| Profit (loss) for the period | 9904 | €533 | €162 | -€372 | -69.7% |
| Profit (loss) for the period to be appropriated | 9905 | €533 | €162 | -€372 | -69.7% |
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 30 October 2026 via checked.be.