BELGIAN CO: 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.
BELGIAN CO
Largest movements
- Receivables within one year +€457,928
up €457,928 (+289.1%), from €158,417 to €616,345
of which Other amounts receivable: +€312,436
- Deferred charges and accrued income -€165,936
down €165,936 (-82.6%), from €200,905 to €34,969
- Tangible fixed assets +€73,389
up €73,389 (+47.6%), from €154,188 to €227,576
of which Furniture and vehicles: +€76,169
- Cash -€61,336
down €61,336 (-31.8%), from €193,155 to €131,819
mainly Receivables within one year (-€457,928) and Other debts (-€123,256)
- Reserves +€258,141
up €258,141 (+58.4%), from €441,859 to €700,000
of which Distributable reserves: +€258,141
- Trade debts +€245,145
up €245,145 (+252.3%), from €97,148 to €342,292
- Other debts -€123,256
down €123,256 (-98.0%), from €125,757 to €2,501
- Profit (loss) carried forward -€30,602
down €30,602 (-72.7%), from €42,090 to €11,488
- Accrued charges and deferred income -€28,556
down €28,556 (-47.3%), from €60,315 to €31,759
- Staff costs +€152,953
up €152,953 (+136.9%), from €111,696 to €264,649
- Gross operating margin -€86,228
down €86,228 (-12.6%), from €684,458 to €598,229
- Taxes -€50,323
down €50,323 (-40.6%), from €124,005 to €73,682
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 | €832,207 | €1,135,459 | +€303,252 | +36.4% |
| Fixed assets | 21/28 | €154,875 | €228,263 | +€73,389 | +47.4% |
| Tangible fixed assets | 22/27 | €154,188 | €227,576 | +€73,389 | +47.6% |
| Land and buildings | 22 | €107,678 | €97,564 | -€10,114 | -9.4% |
| Plant, machinery and equipment | 23 | €19,927 | €20,366 | +€439 | +2.2% |
| Furniture and vehicles | 24 | €2,544 | €78,713 | +€76,169 | +2993.7% |
| Other tangible fixed assets | 26 | €24,038 | €30,934 | +€6,895 | +28.7% |
| Financial fixed assets | 28 | €687 | €687 | = | 0.0% |
| Current assets | 29/58 | €677,332 | €907,195 | +€229,863 | +33.9% |
| Stocks and contracts in progress | 3 | €124,855 | €124,063 | -€792 | -0.6% |
| Stocks | 30/36 | €124,855 | €124,063 | -€792 | -0.6% |
| Amounts receivable within one year | 40/41 | €158,417 | €616,345 | +€457,928 | +289.1% |
| Trade receivables | 40 | €152,423 | €297,914 | +€145,492 | +95.5% |
| Other amounts receivable | 41 | €5,995 | €318,430 | +€312,436 | +5211.8% |
| Cash at bank and in hand | 54/58 | €193,155 | €131,819 | -€61,336 | -31.8% |
| Deferred charges and accrued income | 490/1 | €200,905 | €34,969 | -€165,936 | -82.6% |
| Total equity and liabilities | 10/49 | €832,207 | €1,135,459 | +€303,252 | +36.4% |
| Equity | 10/15 | €502,542 | €730,080 | +€227,539 | +45.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €441,859 | €700,000 | +€258,141 | +58.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €441,859 | €700,000 | +€258,141 | +58.4% |
| Profit (loss) carried forward | 14 | €42,090 | €11,488 | -€30,602 | -72.7% |
| Amounts payable | 17/49 | €329,666 | €405,379 | +€75,713 | +23.0% |
| Amounts payable within one year | 42/48 | €269,351 | €373,619 | +€104,269 | +38.7% |
| Trade debts | 44 | €97,148 | €342,292 | +€245,145 | +252.3% |
| Suppliers | 440/4 | €97,148 | €342,292 | +€245,145 | +252.3% |
| Taxes, remuneration and social security | 45 | €46,446 | €28,826 | -€17,620 | -37.9% |
| Taxes | 450/3 | €35,000 | €0 | -€35,000 | -100.0% |
| Remuneration and social security | 454/9 | €11,446 | €28,826 | +€17,380 | +151.8% |
| Other amounts payable | 47/48 | €125,757 | €2,501 | -€123,256 | -98.0% |
| Accrued charges and deferred income | 492/3 | €60,315 | €31,759 | -€28,556 | -47.3% |
| Non-recurring operating income | 76A | - | €4,800 | +€4,800 | |
| Remuneration, social security and pensions | 62 | €111,696 | €264,649 | +€152,953 | +136.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,932 | €30,151 | +€5,218 | +20.9% |
| Other operating charges | 640/8 | €4,562 | €4,297 | -€265 | -5.8% |
| Gross operating margin | 9900 | €684,458 | €598,229 | -€86,228 | -12.6% |
| Operating profit (loss) | 9901 | €543,267 | €299,132 | -€244,135 | -44.9% |
| Financial income | 75/76B | €2,776 | €2,473 | -€303 | -10.9% |
| Recurring financial income | 75 | €2,776 | €2,473 | -€303 | -10.9% |
| Financial charges | 65/66B | €6,086 | €385 | -€5,701 | -93.7% |
| Recurring financial charges | 65 | €6,086 | €385 | -€5,701 | -93.7% |
| Profit (loss) for the period before taxes | 9903 | €539,957 | €301,221 | -€238,737 | -44.2% |
| Income taxes | 67/77 | €124,005 | €73,682 | -€50,323 | -40.6% |
| Profit (loss) for the period | 9904 | €415,952 | €227,539 | -€188,413 | -45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €415,952 | €227,539 | -€188,413 | -45.3% |
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.