BELGIL: what changed
Two fiscal 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.
BELGIL
Largest movements
- Tangible fixed assets -€24,442
down €24,442 (-7.9%), from €310,288 to €285,845
of which Land and buildings: -€23,707
- Cash -€11,685
down €11,685 (-80.6%), from €14,501 to €2,816
mainly Debts after one year (-€23,342) and Contributions, distributions and other (-€8,337)
- Debts after one year -€23,342
down €23,342 (-24.2%), from €96,584 to €73,242
- Other debts -€6,569
down €6,569 (-44.1%), from €14,906 to €8,337
- Gross operating margin -€2,883
down €2,883 (-6.3%), from €45,969 to €43,086
- Taxes -€825
down €825 (-16.0%), from €5,149 to €4,325
- Depreciation +€650
up €650 (+2.7%), from €23,792 to €24,442
- Financial charges -€480
down €480 (-16.0%), from €3,005 to €2,525
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 | €332,561 | €299,377 | -€33,184 | -10.0% |
| Fixed assets | 21/28 | €310,288 | €285,845 | -€24,442 | -7.9% |
| Tangible fixed assets | 22/27 | €310,288 | €285,845 | -€24,442 | -7.9% |
| Land and buildings | 22 | €307,187 | €283,480 | -€23,707 | -7.7% |
| Plant, machinery and equipment | 23 | €3,100 | €2,365 | -€735 | -23.7% |
| Current assets | 29/58 | €22,274 | €13,532 | -€8,741 | -39.2% |
| Amounts receivable within one year | 40/41 | €7,772 | €10,565 | +€2,792 | +35.9% |
| Trade receivables | 40 | €1,400 | €2,100 | +€700 | +50.0% |
| Other amounts receivable | 41 | €6,372 | €8,465 | +€2,092 | +32.8% |
| Cash at bank and in hand | 54/58 | €14,501 | €2,816 | -€11,685 | -80.6% |
| Deferred charges and accrued income | 490/1 | - | €151 | +€151 | |
| Total equity and liabilities | 10/49 | €332,561 | €299,377 | -€33,184 | -10.0% |
| Equity | 10/15 | €183,877 | €181,636 | -€2,241 | -1.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €122,377 | €120,136 | -€2,241 | -1.8% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,278 | €12,732 | -€2,546 | -16.7% |
| Distributable reserves | 133 | €100,949 | €101,254 | +€305 | +0.3% |
| Provisions and deferred taxes | 16 | €5,093 | €4,244 | -€849 | -16.7% |
| Deferred taxes | 168 | €5,093 | €4,244 | -€849 | -16.7% |
| Amounts payable | 17/49 | €143,591 | €113,498 | -€30,094 | -21.0% |
| Amounts payable after more than one year | 17 | €96,584 | €73,242 | -€23,342 | -24.2% |
| Financial debts | 170/4 | €96,584 | €73,242 | -€23,342 | -24.2% |
| Amounts payable within one year | 42/48 | €44,105 | €37,354 | -€6,751 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €22,863 | €23,342 | +€479 | +2.1% |
| Trade debts | 44 | €546 | €201 | -€344 | -63.1% |
| Suppliers | 440/4 | €546 | €201 | -€344 | -63.1% |
| Taxes, remuneration and social security | 45 | €5,791 | €5,474 | -€318 | -5.5% |
| Taxes | 450/3 | €5,791 | €5,474 | -€318 | -5.5% |
| Other amounts payable | 47/48 | €14,906 | €8,337 | -€6,569 | -44.1% |
| Accrued charges and deferred income | 492/3 | €2,902 | €2,902 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,792 | €24,442 | +€650 | +2.7% |
| Other operating charges | 640/8 | €6,384 | €6,548 | +€164 | +2.6% |
| Gross operating margin | 9900 | €45,969 | €43,086 | -€2,883 | -6.3% |
| Operating profit (loss) | 9901 | €15,793 | €12,096 | -€3,698 | -23.4% |
| Financial charges | 65/66B | €3,005 | €2,525 | -€480 | -16.0% |
| Recurring financial charges | 65 | €3,005 | €2,525 | -€480 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €12,788 | €9,571 | -€3,217 | -25.2% |
| Transfer from deferred taxes | 780 | €849 | €849 | = | 0.0% |
| Income taxes | 67/77 | €5,149 | €4,325 | -€825 | -16.0% |
| Profit (loss) for the period | 9904 | €8,488 | €6,095 | -€2,392 | -28.2% |
| Transfer from tax-exempt reserves | 789 | €2,546 | €2,546 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,034 | €8,642 | -€2,392 | -21.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.