BELGAVISION: 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.
BELGAVISION
Largest movements
- Receivables within one year -€34,809
down €34,809 (-67.3%), from €51,737 to €16,928
of which Other amounts receivable: -€46,688
- Tangible fixed assets -€16,084
down €16,084 (-48.0%), from €33,520 to €17,435
- Cash -€8,239
down €8,239 (-75.0%), from €10,989 to €2,750
mainly Other debts (-€41,342) and Debts after one year (-€24,122)
- Deferred charges and accrued income +€1,112
new in 2025: €1,112
- Other debts -€41,342
down €41,342 (-98.6%), from €41,924 to €582
- Debts after one year -€24,122
down €24,122 (-26.4%), from €91,459 to €67,338
of which Other amounts payable: -€15,000
- Tax, wage and social debts +€8,214
up €8,214 (+99.0%), from €8,293 to €16,508
- Current portion of long-term debt -€4,120
down €4,120 (-36.5%), from €11,301 to €7,181
- Trade debts +€2,955
up €2,955 (+453%), from €652 to €3,607
- Other operating charges +€19,555
up €19,555 (+689%), from €2,838 to €22,394
- Gross operating margin +€11,391
up €11,391 (+37.2%), from €30,624 to €42,015
- Depreciation -€2,066
down €2,066 (-14.2%), from €14,535 to €12,469
- Financial income -€1,859
down €1,859 (-100%), from €1,859 to €0
- Taxes -€1,787
down €1,787 (-35.8%), from €4,995 to €3,208
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 | €96,246 | €38,225 | -€58,021 | -60.3% |
| Fixed assets | 21/28 | €33,520 | €17,435 | -€16,084 | -48.0% |
| Tangible fixed assets | 22/27 | €33,520 | €17,435 | -€16,084 | -48.0% |
| Furniture and vehicles | 24 | €33,520 | €17,435 | -€16,084 | -48.0% |
| Current assets | 29/58 | €62,726 | €20,790 | -€41,936 | -66.9% |
| Amounts receivable within one year | 40/41 | €51,737 | €16,928 | -€34,809 | -67.3% |
| Trade receivables | 40 | €5,049 | €16,928 | +€11,879 | +235% |
| Other amounts receivable | 41 | €46,688 | €0 | -€46,688 | -100% |
| Cash at bank and in hand | 54/58 | €10,989 | €2,750 | -€8,239 | -75.0% |
| Deferred charges and accrued income | 490/1 | - | €1,112 | +€1,112 | |
| Total equity and liabilities | 10/49 | €96,246 | €38,225 | -€58,021 | -60.3% |
| Equity | 10/15 | -€62,506 | -€62,218 | +€288 | +0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6 | €6 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6 | €6 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6 | €6 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,112 | -€80,824 | +€288 | +0.4% |
| Amounts payable | 17/49 | €158,752 | €100,443 | -€58,309 | -36.7% |
| Amounts payable after more than one year | 17 | €91,459 | €67,338 | -€24,122 | -26.4% |
| Financial debts | 170/4 | €16,459 | €7,338 | -€9,122 | -55.4% |
| Other amounts payable | 178/9 | €75,000 | €60,000 | -€15,000 | -20.0% |
| Amounts payable within one year | 42/48 | €67,293 | €33,105 | -€34,187 | -50.8% |
| Current portion of amounts payable after more than one year | 42 | €11,301 | €7,181 | -€4,120 | -36.5% |
| Financial debts | 43 | €5,123 | €5,228 | +€105 | +2.0% |
| Credit institutions | 430/8 | €5,123 | €5,228 | +€105 | +2.0% |
| Trade debts | 44 | €652 | €3,607 | +€2,955 | +453% |
| Suppliers | 440/4 | €652 | €3,607 | +€2,955 | +453% |
| Taxes, remuneration and social security | 45 | €8,293 | €16,508 | +€8,214 | +99.0% |
| Taxes | 450/3 | €8,293 | €16,508 | +€8,214 | +99.0% |
| Other amounts payable | 47/48 | €41,924 | €582 | -€41,342 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,535 | €12,469 | -€2,066 | -14.2% |
| Other operating charges | 640/8 | €2,838 | €22,394 | +€19,555 | +689% |
| Non-recurring operating charges | 66A | - | €1,504 | +€1,504 | |
| Gross operating margin | 9900 | €30,624 | €42,015 | +€11,391 | +37.2% |
| Operating profit (loss) | 9901 | €13,251 | €5,650 | -€7,602 | -57.4% |
| Financial income | 75/76B | €1,859 | €0 | -€1,859 | -100% |
| Recurring financial income | 75 | €1,859 | €0 | -€1,859 | -100% |
| Financial charges | 65/66B | €2,432 | €2,153 | -€280 | -11.5% |
| Recurring financial charges | 65 | €2,432 | €2,153 | -€280 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €12,678 | €3,497 | -€9,181 | -72.4% |
| Income taxes | 67/77 | €4,995 | €3,208 | -€1,787 | -35.8% |
| Profit (loss) for the period | 9904 | €7,683 | €288 | -€7,394 | -96.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,683 | €288 | -€7,394 | -96.2% |
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 20 October 2026 via checked.be.