BELGALEASE: 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.
BELGALEASE
Largest movements
- Cash -€1.3m
down €1.3m (-65.6%), from €1.9m to €657,277
mainly Receivables after one year (-€1.0m) and Receivables within one year (-€209,220)
- Receivables after one year +€1.0m
up €1.0m (+20.2%), from €5.2m to €6.3m
- Receivables within one year +€209,220
up €209,220 (+6.9%), from €3.0m to €3.2m
of which Other amounts receivable: +€402,337
- Tangible fixed assets -€127,780
down €127,780 (-41.8%), from €305,798 to €178,017
of which Other tangible fixed assets: -€127,780
- Reserves +€2.2m
up €2.2m (+515.5%), from €430,094 to €2.6m
of which Distributable reserves: +€2.2m
- Profit (loss) carried forward -€2.1m
no longer reported in 2025 (was €2.1m)
- Other debts -€149,596
down €149,596 (-4.1%), from €3.6m to €3.5m
- Gross operating margin -€114,861
down €114,861 (-25.4%), from €452,981 to €338,120
- Taxes -€41,889
down €41,889 (-54.4%), from €77,026 to €35,138
- Financial income -€21,291
no longer reported in 2025 (was €21,291)
of which Non-recurring financial income: -€19,458
- Financial charges -€4,931
down €4,931 (-24.4%), from €20,246 to €15,315
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 | €10,479,534 | €10,350,711 | -€128,823 | -1.2% |
| Fixed assets | 21/28 | €305,798 | €178,017 | -€127,780 | -41.8% |
| Tangible fixed assets | 22/27 | €305,798 | €178,017 | -€127,780 | -41.8% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €305,798 | €178,017 | -€127,780 | -41.8% |
| Current assets | 29/58 | €10,173,736 | €10,172,693 | -€1,043 | 0.0% |
| Amounts receivable after more than one year | 29 | €5,204,035 | €6,253,383 | +€1.0m | +20.2% |
| Other amounts receivable | 291 | €5,204,035 | €6,253,383 | +€1.0m | +20.2% |
| Amounts receivable within one year | 40/41 | €3,031,883 | €3,241,104 | +€209,220 | +6.9% |
| Trade receivables | 40 | €342,068 | €148,951 | -€193,117 | -56.5% |
| Other amounts receivable | 41 | €2,689,815 | €3,092,153 | +€402,337 | +15.0% |
| Cash at bank and in hand | 54/58 | €1,910,767 | €657,277 | -€1.3m | -65.6% |
| Deferred charges and accrued income | 490/1 | €27,052 | €20,930 | -€6,121 | -22.6% |
| Total equity and liabilities | 10/49 | €10,479,534 | €10,350,711 | -€128,823 | -1.2% |
| Equity | 10/15 | €6,543,579 | €6,647,218 | +€103,639 | +1.6% |
| Contributions | 10/11 | €4,000,000 | €4,000,000 | = | 0.0% |
| Capital | 10 | €4,000,000 | €4,000,000 | = | 0.0% |
| Issued capital | 100 | €4,000,000 | €4,000,000 | = | 0.0% |
| Reserves | 13 | €430,094 | €2,647,218 | +€2.2m | +515.5% |
| Non-distributable reserves | 130/1 | €128,135 | €133,317 | +€5,182 | +4.0% |
| Legal reserve | 130 | €128,135 | €133,317 | +€5,182 | +4.0% |
| Distributable reserves | 133 | €301,959 | €2,513,901 | +€2.2m | +732.5% |
| Profit (loss) carried forward | 14 | €2,113,485 | - | -€2.1m | |
| Amounts payable | 17/49 | €3,935,954 | €3,703,493 | -€232,462 | -5.9% |
| Amounts payable within one year | 42/48 | €3,782,289 | €3,583,882 | -€198,407 | -5.2% |
| Trade debts | 44 | €32,130 | €27,031 | -€5,098 | -15.9% |
| Suppliers | 440/4 | €32,130 | €27,031 | -€5,098 | -15.9% |
| Taxes, remuneration and social security | 45 | €100,563 | €56,851 | -€43,712 | -43.5% |
| Taxes | 450/3 | €100,563 | €56,851 | -€43,712 | -43.5% |
| Other amounts payable | 47/48 | €3,649,596 | €3,500,000 | -€149,596 | -4.1% |
| Accrued charges and deferred income | 492/3 | €153,665 | €119,610 | -€34,055 | -22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,780 | €127,780 | -€0 | 0.0% |
| Other operating charges | 640/8 | €54,680 | €56,248 | +€1,568 | +2.9% |
| Gross operating margin | 9900 | €452,981 | €338,120 | -€114,861 | -25.4% |
| Operating profit (loss) | 9901 | €270,520 | €154,091 | -€116,429 | -43.0% |
| Financial income | 75/76B | €21,291 | - | -€21,291 | |
| Recurring financial income | 75 | €1,833 | - | -€1,833 | |
| Non-recurring financial income | 76B | €19,458 | - | -€19,458 | |
| Financial charges | 65/66B | €20,246 | €15,315 | -€4,931 | -24.4% |
| Recurring financial charges | 65 | €20,246 | €15,315 | -€4,931 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €271,565 | €138,776 | -€132,789 | -48.9% |
| Income taxes | 67/77 | €77,026 | €35,138 | -€41,889 | -54.4% |
| Profit (loss) for the period | 9904 | €194,539 | €103,639 | -€90,900 | -46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €194,539 | €103,639 | -€90,900 | -46.7% |
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 12 October 2026 via checked.be.