BELGIMO: 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.
BELGIMO
Largest movements
- Cash -€71,592
down €71,592 (-69.9%), from €102,397 to €30,806
mainly Other debts (-€86,836) and Net result for the year (-€5,178)
- Tangible fixed assets -€24,069
down €24,069 (-3.8%), from €641,810 to €617,740
- Other debts -€86,836
down €86,836 (-25.5%), from €340,669 to €253,834
- Gross operating margin -€4,071
down €4,071 (-13.2%), from €30,947 to €26,876
- Depreciation +€400
up €400 (+1.7%), from €23,669 to €24,069
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 | €813,788 | €721,027 | -€92,761 | -11.4% |
| Fixed assets | 21/28 | €641,810 | €620,640 | -€21,169 | -3.3% |
| Tangible fixed assets | 22/27 | €641,810 | €617,740 | -€24,069 | -3.8% |
| Land and buildings | 22 | €641,810 | €617,740 | -€24,069 | -3.8% |
| Financial fixed assets | 28 | - | €2,900 | +€2,900 | |
| Current assets | 29/58 | €171,978 | €100,386 | -€71,592 | -41.6% |
| Cash at bank and in hand | 54/58 | €102,397 | €30,806 | -€71,592 | -69.9% |
| Deferred charges and accrued income | 490/1 | €69,581 | €69,581 | = | 0.0% |
| Total equity and liabilities | 10/49 | €813,788 | €721,027 | -€92,761 | -11.4% |
| Equity | 10/15 | €434,304 | €429,126 | -€5,178 | -1.2% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €273 | €273 | = | 0.0% |
| Non-distributable reserves | 130/1 | €273 | €273 | = | 0.0% |
| Legal reserve | 130 | €273 | €273 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€165,968 | -€171,147 | -€5,178 | -3.1% |
| Amounts payable | 17/49 | €379,483 | €291,901 | -€87,583 | -23.1% |
| Amounts payable after more than one year | 17 | €8,810 | €7,060 | -€1,750 | -19.9% |
| Other amounts payable | 178/9 | €8,810 | €7,060 | -€1,750 | -19.9% |
| Amounts payable within one year | 42/48 | €362,861 | €277,028 | -€85,833 | -23.7% |
| Trade debts | 44 | €22,192 | €22,984 | +€792 | +3.6% |
| Suppliers | 440/4 | €22,192 | €22,984 | +€792 | +3.6% |
| Taxes, remuneration and social security | 45 | - | €211 | +€211 | |
| Taxes | 450/3 | - | €211 | +€211 | |
| Other amounts payable | 47/48 | €340,669 | €253,834 | -€86,836 | -25.5% |
| Accrued charges and deferred income | 492/3 | €7,812 | €7,812 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,669 | €24,069 | +€400 | +1.7% |
| Other operating charges | 640/8 | €7,377 | €7,590 | +€213 | +2.9% |
| Gross operating margin | 9900 | €30,947 | €26,876 | -€4,071 | -13.2% |
| Operating profit (loss) | 9901 | -€99 | -€4,783 | -€4,684 | -4721.4% |
| Financial charges | 65/66B | €63 | €184 | +€121 | +193.0% |
| Recurring financial charges | 65 | €63 | €184 | +€121 | +193.0% |
| Profit (loss) for the period before taxes | 9903 | -€162 | -€4,967 | -€4,805 | -2967.4% |
| Income taxes | 67/77 | €185 | €211 | +€26 | +14.0% |
| Profit (loss) for the period | 9904 | -€347 | -€5,178 | -€4,831 | -1392.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€347 | -€5,178 | -€4,831 | -1392.5% |
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 29 September 2026 via checked.be.