BELGA IMMO BRUSSELS: 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.
BELGA IMMO BRUSSELS
Largest movements
- Receivables within one year -€46,784
down €46,784 (-33.4%), from €140,025 to €93,240
of which Trade receivables: -€57,584
- Stocks and contracts -€5,770
down €5,770 (-26.1%), from €22,076 to €16,306
- Tangible fixed assets -€4,320
down €4,320 (-20.8%), from €20,807 to €16,488
- Cash -€3,801
down €3,801 (-12.2%), from €31,123 to €27,322
mainly Trade debts (-€60,308) and Tax, wage and social debts (-€27,524)
- Trade debts -€60,308
down €60,308 (-62.7%), from €96,234 to €35,926
- Tax, wage and social debts -€27,524
down €27,524 (-39.0%), from €70,606 to €43,082
of which Taxes: -€18,536
- Debts after one year +€13,245
new in 2025: €13,245
- Profit (loss) carried forward +€6,865
up €6,865 (+16.9%), from €40,564 to €47,429
- Current portion of long-term debt +€3,762
new in 2025: €3,762
- Gross operating margin +€117,923
up €117,923, from -€823 to €117,100
- Staff costs +€67,565
up €67,565 (+186%), from €36,265 to €103,830
- Depreciation +€2,801
up €2,801 (+184%), from €1,519 to €4,320
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 | €214,137 | €153,462 | -€60,675 | -28.3% |
| Fixed assets | 21/28 | €20,807 | €16,488 | -€4,320 | -20.8% |
| Tangible fixed assets | 22/27 | €20,807 | €16,488 | -€4,320 | -20.8% |
| Furniture and vehicles | 24 | €20,807 | €16,488 | -€4,320 | -20.8% |
| Current assets | 29/58 | €193,330 | €136,974 | -€56,355 | -29.1% |
| Stocks and contracts in progress | 3 | €22,076 | €16,306 | -€5,770 | -26.1% |
| Stocks | 30/36 | €22,076 | €16,306 | -€5,770 | -26.1% |
| Amounts receivable within one year | 40/41 | €140,025 | €93,240 | -€46,784 | -33.4% |
| Trade receivables | 40 | €139,358 | €81,773 | -€57,584 | -41.3% |
| Other amounts receivable | 41 | €667 | €11,467 | +€10,800 | +1,619% |
| Cash at bank and in hand | 54/58 | €31,123 | €27,322 | -€3,801 | -12.2% |
| Deferred charges and accrued income | 490/1 | €106 | €106 | = | 0.0% |
| Total equity and liabilities | 10/49 | €214,137 | €153,462 | -€60,675 | -28.3% |
| Equity | 10/15 | €46,564 | €53,429 | +€6,865 | +14.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,564 | €47,429 | +€6,865 | +16.9% |
| Amounts payable | 17/49 | €167,573 | €100,033 | -€67,540 | -40.3% |
| Amounts payable after more than one year | 17 | - | €13,245 | +€13,245 | |
| Financial debts | 170/4 | - | €13,245 | +€13,245 | |
| Amounts payable within one year | 42/48 | €167,573 | €86,788 | -€80,785 | -48.2% |
| Current portion of amounts payable after more than one year | 42 | - | €3,762 | +€3,762 | |
| Trade debts | 44 | €96,234 | €35,926 | -€60,308 | -62.7% |
| Suppliers | 440/4 | €96,234 | €35,926 | -€60,308 | -62.7% |
| Taxes, remuneration and social security | 45 | €70,606 | €43,082 | -€27,524 | -39.0% |
| Taxes | 450/3 | €23,297 | €4,761 | -€18,536 | -79.6% |
| Remuneration and social security | 454/9 | €47,309 | €38,321 | -€8,988 | -19.0% |
| Other amounts payable | 47/48 | €733 | €4,018 | +€3,285 | +448% |
| Remuneration, social security and pensions | 62 | €36,265 | €103,830 | +€67,565 | +186% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,519 | €4,320 | +€2,801 | +184% |
| Other operating charges | 640/8 | €760 | €1,010 | +€249 | +32.8% |
| Gross operating margin | 9900 | -€823 | €117,100 | +€117,923 | |
| Operating profit (loss) | 9901 | -€39,366 | €7,941 | +€47,307 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €449 | €1,076 | +€626 | +139% |
| Recurring financial charges | 65 | €449 | €1,076 | +€626 | +139% |
| Profit (loss) for the period before taxes | 9903 | -€39,816 | €6,865 | +€46,681 | |
| Profit (loss) for the period | 9904 | -€39,816 | €6,865 | +€46,681 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,816 | €6,865 | +€46,681 |
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 25 October 2026 via checked.be.