BELGICA STRATEGY SERVICES: 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.
BELGICA STRATEGY SERVICES
Largest movements
- Receivables within one year -€198,086
down €198,086 (-23.3%), from €850,796 to €652,710
of which Trade receivables: -€198,138
- Deferred charges and accrued income -€182,368
no longer reported in 2025 (was €182,368)
- Trade debts -€503,947
down €503,947 (-49.3%), from €1.0m to €517,834
- Accrued charges and deferred income +€121,345
new in 2025: €121,345
- Gross operating margin +€1,566
up €1,566 (+68.6%), from €2,283 to €3,849
- Taxes +€378
up €378 (+130%), from €291 to €669
- Other operating charges -€372
down €372 (-48.2%), from €772 to €400
- Financial charges +€51
up €51 (+94.4%), from €54 to €105
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 | €1,033,238 | €653,980 | -€379,258 | -36.7% |
| Current assets | 29/58 | €1,033,238 | €653,980 | -€379,258 | -36.7% |
| Amounts receivable within one year | 40/41 | €850,796 | €652,710 | -€198,086 | -23.3% |
| Trade receivables | 40 | €849,652 | €651,514 | -€198,138 | -23.3% |
| Other amounts receivable | 41 | €1,144 | €1,196 | +€52 | +4.5% |
| Cash at bank and in hand | 54/58 | €74 | €1,270 | +€1,196 | +1,616% |
| Deferred charges and accrued income | 490/1 | €182,368 | - | -€182,368 | |
| Total equity and liabilities | 10/49 | €1,033,238 | €653,980 | -€379,258 | -36.7% |
| Equity | 10/15 | €11,166 | €13,841 | +€2,675 | +24.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,166 | €3,841 | +€2,675 | +229% |
| Amounts payable | 17/49 | €1,022,072 | €640,139 | -€381,933 | -37.4% |
| Amounts payable within one year | 42/48 | €1,022,072 | €518,794 | -€503,278 | -49.2% |
| Trade debts | 44 | €1,021,781 | €517,834 | -€503,947 | -49.3% |
| Suppliers | 440/4 | €1,021,781 | €517,834 | -€503,947 | -49.3% |
| Taxes, remuneration and social security | 45 | €291 | €960 | +€669 | +230% |
| Taxes | 450/3 | €291 | €960 | +€669 | +230% |
| Accrued charges and deferred income | 492/3 | - | €121,345 | +€121,345 | |
| Other operating charges | 640/8 | €772 | €400 | -€372 | -48.2% |
| Gross operating margin | 9900 | €2,283 | €3,849 | +€1,566 | +68.6% |
| Operating profit (loss) | 9901 | €1,511 | €3,449 | +€1,938 | +128% |
| Financial charges | 65/66B | €54 | €105 | +€51 | +94.4% |
| Recurring financial charges | 65 | €54 | €105 | +€51 | +94.4% |
| Profit (loss) for the period before taxes | 9903 | €1,457 | €3,344 | +€1,887 | +130% |
| Income taxes | 67/77 | €291 | €669 | +€378 | +130% |
| Profit (loss) for the period | 9904 | €1,166 | €2,675 | +€1,509 | +129% |
| Profit (loss) for the period to be appropriated | 9905 | €1,166 | €2,675 | +€1,509 | +129% |
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 31 October 2026 via checked.be.