Belfuture 2: 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.
Belfuture 2
Largest movements
- Cash +€948,906
up €948,906 (+182.1%), from €521,030 to €1.5m
mainly Other debts (+€1.3m) and Depreciation (+€915,750)
- Tangible fixed assets -€897,034
down €897,034 (-17.9%), from €5.0m to €4.1m
- Other debts +€1.3m
up €1.3m (+6501525.0%), from €20 to €1.3m
- Debts after one year -€826,697
down €826,697 (-28.6%), from €2.9m to €2.1m
- Profit (loss) carried forward -€463,309
down €463,309 (-85.6%), from €541,495 to €78,186
- Reserves +€217,390
up €217,390 (+14.3%), from €1.5m to €1.7m
of which Distributable reserves: +€217,390
- Revaluation surpluses -€217,388
down €217,388 (-16.7%), from €1.3m to €1.1m
- Turnover +€150,502
up €150,502 (+7.3%), from €2.0m to €2.2m
- Purchases and services +€127,321
up €127,321 (+14.4%), from €885,959 to €1.0m
- Financial charges -€73,305
down €73,305 (-33.4%), from €219,505 to €146,200
- Financial income -€40,078
down €40,078 (-14.7%), from €272,433 to €232,355
- Gross operating margin +€23,180
up €23,180 (+2.0%), from €1.2m to €1.2m
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 | €9,369,716 | €9,330,425 | -€39,291 | -0.4% |
| Formation expenses | 20 | €70,005 | €51,290 | -€18,715 | -26.7% |
| Fixed assets | 21/28 | €5,019,706 | €4,122,672 | -€897,034 | -17.9% |
| Tangible fixed assets | 22/27 | €5,019,706 | €4,122,672 | -€897,034 | -17.9% |
| Plant, machinery and equipment | 23 | €5,019,706 | €4,122,672 | -€897,034 | -17.9% |
| Current assets | 29/58 | €4,280,005 | €5,156,463 | +€876,458 | +20.5% |
| Amounts receivable within one year | 40/41 | €3,725,044 | €3,686,527 | -€38,517 | -1.0% |
| Trade receivables | 40 | €232,798 | €40,854 | -€191,944 | -82.5% |
| Other amounts receivable | 41 | €3,492,246 | €3,645,673 | +€153,427 | +4.4% |
| Cash at bank and in hand | 54/58 | €521,030 | €1,469,936 | +€948,906 | +182.1% |
| Deferred charges and accrued income | 490/1 | €33,930 | - | -€33,930 | |
| Total equity and liabilities | 10/49 | €9,369,716 | €9,330,425 | -€39,291 | -0.4% |
| Equity | 10/15 | €4,945,162 | €4,400,935 | -€544,227 | -11.0% |
| Contributions | 10/11 | €1,133,400 | €1,133,400 | = | 0.0% |
| Revaluation surpluses | 12 | €1,304,332 | €1,086,944 | -€217,388 | -16.7% |
| Reserves | 13 | €1,523,580 | €1,740,970 | +€217,390 | +14.3% |
| 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 | €1,521,720 | €1,739,110 | +€217,390 | +14.3% |
| Profit (loss) carried forward | 14 | €541,495 | €78,186 | -€463,309 | -85.6% |
| Investment grants | 15 | €442,354 | €361,435 | -€80,919 | -18.3% |
| Provisions and deferred taxes | 16 | €196,534 | €196,534 | -€0 | 0.0% |
| Provisions for liabilities and charges | 160/5 | €196,534 | €196,534 | -€0 | 0.0% |
| Major repairs and maintenance | 162 | €196,534 | €196,534 | -€0 | 0.0% |
| Amounts payable | 17/49 | €4,228,021 | €4,732,956 | +€504,935 | +11.9% |
| Amounts payable after more than one year | 17 | €2,893,440 | €2,066,743 | -€826,697 | -28.6% |
| Financial debts | 170/4 | €2,893,440 | €2,066,743 | -€826,697 | -28.6% |
| Amounts payable within one year | 42/48 | €1,287,691 | €2,639,475 | +€1.4m | +105.0% |
| Current portion of amounts payable after more than one year | 42 | €826,697 | €826,697 | -€0 | 0.0% |
| Trade debts | 44 | €420,126 | €483,910 | +€63,784 | +15.2% |
| Suppliers | 440/4 | €420,126 | €483,910 | +€63,784 | +15.2% |
| Taxes, remuneration and social security | 45 | €40,848 | €28,543 | -€12,305 | -30.1% |
| Taxes | 450/3 | €40,848 | €28,543 | -€12,305 | -30.1% |
| Other amounts payable | 47/48 | €20 | €1,300,325 | +€1.3m | +6501525.0% |
| Accrued charges and deferred income | 492/3 | €46,889 | €26,738 | -€20,151 | -43.0% |
| Turnover | 70 | €2,049,196 | €2,199,698 | +€150,502 | +7.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €885,959 | €1,013,280 | +€127,321 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €915,750 | €915,750 | +€0 | 0.0% |
| Other operating charges | 640/8 | €12,640 | €1,060 | -€11,580 | -91.6% |
| Gross operating margin | 9900 | €1,163,237 | €1,186,417 | +€23,180 | +2.0% |
| Operating profit (loss) | 9901 | €234,847 | €269,607 | +€34,760 | +14.8% |
| Financial income | 75/76B | €272,433 | €232,355 | -€40,078 | -14.7% |
| Recurring financial income | 75 | €272,433 | €232,355 | -€40,078 | -14.7% |
| Financial charges | 65/66B | €219,505 | €146,200 | -€73,305 | -33.4% |
| Recurring financial charges | 65 | €219,505 | €146,200 | -€73,305 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | €287,776 | €355,762 | +€67,986 | +23.6% |
| Income taxes | 67/77 | €136,709 | €119,071 | -€17,638 | -12.9% |
| Profit (loss) for the period | 9904 | €151,067 | €236,691 | +€85,624 | +56.7% |
| Profit (loss) for the period to be appropriated | 9905 | €151,067 | €236,691 | +€85,624 | +56.7% |
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 8 October 2026 via checked.be.