BELGAFUN: 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.
BELGAFUN
Largest movements
- Deferred charges and accrued income -€76,709
down €76,709 (-100%), from €76,709 to €0
- Receivables within one year -€30,847
down €30,847 (-95.1%), from €32,452 to €1,605
of which Other amounts receivable: -€32,441
- Financial fixed assets +€30,000
up €30,000 (+24.3%), from €123,250 to €153,250
- Tangible fixed assets -€7,329
down €7,329 (-12.0%), from €61,051 to €53,722
of which Furniture and vehicles: -€6,461
- Cash -€3,279
down €3,279 (-26.6%), from €12,309 to €9,030
mainly Trade debts (-€106,465) and Investment in fixed assets (net) (-€30,000)
- Trade debts -€106,465
down €106,465 (-95.9%), from €111,002 to €4,537
- Profit (loss) carried forward +€22,663
up €22,663 (+85.6%), from €26,464 to €49,127
- Other debts +€10,673
up €10,673 (+16.0%), from €66,736 to €77,409
- Tax, wage and social debts -€7,970
down €7,970 (-53.2%), from €14,986 to €7,016
- Debts after one year -€7,229
down €7,229 (-57.7%), from €12,523 to €5,294
of which Financial debts: -€7,229
- Gross operating margin -€40,580
down €40,580 (-49.8%), from €81,499 to €40,919
- Taxes -€3,409
down €3,409 (-28.0%), from €12,172 to €8,764
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 | €311,771 | €223,607 | -€88,164 | -28.3% |
| Fixed assets | 21/28 | €184,301 | €206,972 | +€22,671 | +12.3% |
| Tangible fixed assets | 22/27 | €61,051 | €53,722 | -€7,329 | -12.0% |
| Plant, machinery and equipment | 23 | €18,774 | €17,907 | -€867 | -4.6% |
| Furniture and vehicles | 24 | €42,277 | €35,816 | -€6,461 | -15.3% |
| Financial fixed assets | 28 | €123,250 | €153,250 | +€30,000 | +24.3% |
| Current assets | 29/58 | €127,470 | €16,635 | -€110,835 | -86.9% |
| Stocks and contracts in progress | 3 | €6,000 | €6,000 | = | 0.0% |
| Stocks | 30/36 | €6,000 | €6,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €32,452 | €1,605 | -€30,847 | -95.1% |
| Trade receivables | 40 | €11 | €1,605 | +€1,594 | +14,281% |
| Other amounts receivable | 41 | €32,441 | €0 | -€32,441 | -100% |
| Cash at bank and in hand | 54/58 | €12,309 | €9,030 | -€3,279 | -26.6% |
| Deferred charges and accrued income | 490/1 | €76,709 | €0 | -€76,709 | -100% |
| Total equity and liabilities | 10/49 | €311,771 | €223,607 | -€88,164 | -28.3% |
| Equity | 10/15 | €99,460 | €122,123 | +€22,663 | +22.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €54,396 | €54,396 | = | 0.0% |
| Distributable reserves | 133 | €54,396 | €54,396 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,464 | €49,127 | +€22,663 | +85.6% |
| Amounts payable | 17/49 | €212,311 | €101,485 | -€110,827 | -52.2% |
| Amounts payable after more than one year | 17 | €12,523 | €5,294 | -€7,229 | -57.7% |
| Financial debts | 170/4 | €11,523 | €4,294 | -€7,229 | -62.7% |
| Other amounts payable | 178/9 | €1,000 | €1,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €199,788 | €96,190 | -€103,598 | -51.9% |
| Current portion of amounts payable after more than one year | 42 | €7,064 | €7,229 | +€165 | +2.3% |
| Trade debts | 44 | €111,002 | €4,537 | -€106,465 | -95.9% |
| Suppliers | 440/4 | €111,002 | €4,537 | -€106,465 | -95.9% |
| Taxes, remuneration and social security | 45 | €14,986 | €7,016 | -€7,970 | -53.2% |
| Taxes | 450/3 | €14,986 | €7,016 | -€7,970 | -53.2% |
| Other amounts payable | 47/48 | €66,736 | €77,409 | +€10,673 | +16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,995 | €7,329 | -€666 | -8.3% |
| Other operating charges | 640/8 | €2,210 | €1,649 | -€560 | -25.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €81,499 | €40,919 | -€40,580 | -49.8% |
| Operating profit (loss) | 9901 | €71,294 | €31,940 | -€39,354 | -55.2% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €718 | €513 | -€205 | -28.5% |
| Recurring financial charges | 65 | €718 | €513 | -€205 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | €70,576 | €31,427 | -€39,149 | -55.5% |
| Income taxes | 67/77 | €12,172 | €8,764 | -€3,409 | -28.0% |
| Profit (loss) for the period | 9904 | €58,404 | €22,663 | -€35,741 | -61.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,404 | €22,663 | -€35,741 | -61.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.