BELFRAN: 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.
BELFRAN
Largest movements
- Financial fixed assets +€56,029
up €56,029 (+5.6%), from €1.0m to €1.1m
- Debts after one year +€47,260
up €47,260 (+4.9%), from €973,928 to €1.0m
- Financial charges +€2,524
up €2,524 (+101.0%), from €2,498 to €5,022
- Financial income +€2,458
up €2,458 (+22.1%), from €11,127 to €13,585
- Gross operating margin +€210
up €210 (+11.5%), from -€1,828 to -€1,618
- Taxes +€36
up €36 (+2.3%), from €1,567 to €1,604
- Other operating charges -€33
down €33 (-3.4%), from €979 to €946
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 | €1,011,906 | €1,065,343 | +€53,437 | +5.3% |
| Fixed assets | 21/28 | €1,008,790 | €1,064,819 | +€56,029 | +5.6% |
| Financial fixed assets | 28 | €1,008,790 | €1,064,819 | +€56,029 | +5.6% |
| Current assets | 29/58 | €3,116 | €524 | -€2,592 | -83.2% |
| Cash at bank and in hand | 54/58 | €3,116 | €524 | -€2,592 | -83.2% |
| Total equity and liabilities | 10/49 | €1,011,906 | €1,065,343 | +€53,437 | +5.3% |
| Equity | 10/15 | €35,005 | €39,401 | +€4,396 | +12.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,610 | €3,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,750 | €1,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,795 | €17,191 | +€4,396 | +34.4% |
| Amounts payable | 17/49 | €976,901 | €1,025,942 | +€49,041 | +5.0% |
| Amounts payable after more than one year | 17 | €973,928 | €1,021,187 | +€47,260 | +4.9% |
| Other amounts payable | 178/9 | €973,928 | €1,021,187 | +€47,260 | +4.9% |
| Amounts payable within one year | 42/48 | €2,973 | €3,034 | +€61 | +2.1% |
| Trade debts | 44 | €1,423 | €1,434 | +€11 | +0.8% |
| Suppliers | 440/4 | €1,423 | €1,434 | +€11 | +0.8% |
| Taxes, remuneration and social security | 45 | €1,550 | €1,600 | +€50 | +3.2% |
| Taxes | 450/3 | €1,550 | €1,600 | +€50 | +3.2% |
| Accrued charges and deferred income | 492/3 | - | €1,720 | +€1,720 | |
| Other operating charges | 640/8 | €979 | €946 | -€33 | -3.4% |
| Gross operating margin | 9900 | -€1,828 | -€1,618 | +€210 | +11.5% |
| Operating profit (loss) | 9901 | -€2,807 | -€2,564 | +€243 | +8.7% |
| Financial income | 75/76B | €11,127 | €13,585 | +€2,458 | +22.1% |
| Recurring financial income | 75 | €11,127 | €13,585 | +€2,458 | +22.1% |
| Financial charges | 65/66B | €2,498 | €5,022 | +€2,524 | +101.0% |
| Recurring financial charges | 65 | €2,498 | €5,022 | +€2,524 | +101.0% |
| Profit (loss) for the period before taxes | 9903 | €5,822 | €6,000 | +€177 | +3.0% |
| Income taxes | 67/77 | €1,567 | €1,604 | +€36 | +2.3% |
| Profit (loss) for the period | 9904 | €4,255 | €4,396 | +€141 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,255 | €4,396 | +€141 | +3.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.