Belgiqa Sales: 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.
Belgiqa Sales
Largest movements
- Formation expenses -€11,867
down €11,867 (-66.6%), from €17,811 to €5,944
- Receivables within one year +€5,348
up €5,348 (+15.9%), from €33,656 to €39,004
- Cash +€2,979
up €2,979 (+15.3%), from €19,435 to €22,414
mainly Depreciation (+€14,241) and Tax, wage and social debts (+€5,476)
- Intangible fixed assets -€2,374
down €2,374 (-74.4%), from €3,191 to €818
- Deferred charges and accrued income +€1,030
up €1,030 (+47.9%), from €2,148 to €3,178
- Profit (loss) carried forward -€10,146
down €10,146 (-16.6%), from -€61,261 to -€71,407
- Tax, wage and social debts +€5,476
up €5,476 (+27.4%), from €19,968 to €25,445
of which Taxes: +€2,986
- Staff costs -€8,155
down €8,155 (-6.4%), from €128,029 to €119,874
- Gross operating margin -€7,951
down €7,951 (-5.7%), from €139,805 to €131,854
- Depreciation -€2,807
down €2,807 (-16.5%), from €17,048 to €14,241
- Financial charges +€1,674
up €1,674 (+32.1%), from €5,208 to €6,882
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 | €76,242 | €71,357 | -€4,885 | -6.4% |
| Formation expenses | 20 | €17,811 | €5,944 | -€11,867 | -66.6% |
| Fixed assets | 21/28 | €3,191 | €818 | -€2,374 | -74.4% |
| Intangible fixed assets | 21 | €3,191 | €818 | -€2,374 | -74.4% |
| Current assets | 29/58 | €55,240 | €64,596 | +€9,356 | +16.9% |
| Amounts receivable within one year | 40/41 | €33,656 | €39,004 | +€5,348 | +15.9% |
| Trade receivables | 40 | €33,656 | €39,004 | +€5,348 | +15.9% |
| Cash at bank and in hand | 54/58 | €19,435 | €22,414 | +€2,979 | +15.3% |
| Deferred charges and accrued income | 490/1 | €2,148 | €3,178 | +€1,030 | +47.9% |
| Total equity and liabilities | 10/49 | €76,242 | €71,357 | -€4,885 | -6.4% |
| Equity | 10/15 | -€58,335 | -€68,481 | -€10,146 | -17.4% |
| Contributions | 10/11 | €2,840 | €2,840 | = | 0.0% |
| Reserves | 13 | €86 | €86 | = | 0.0% |
| Distributable reserves | 133 | €86 | €86 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,261 | -€71,407 | -€10,146 | -16.6% |
| Amounts payable | 17/49 | €134,578 | €139,838 | +€5,261 | +3.9% |
| Amounts payable after more than one year | 17 | €114,019 | €114,019 | = | 0.0% |
| Financial debts | 170/4 | €114,019 | €114,019 | = | 0.0% |
| Amounts payable within one year | 42/48 | €20,559 | €25,820 | +€5,261 | +25.6% |
| Trade debts | 44 | €591 | €375 | -€216 | -36.6% |
| Suppliers | 440/4 | €591 | €375 | -€216 | -36.6% |
| Taxes, remuneration and social security | 45 | €19,968 | €25,445 | +€5,476 | +27.4% |
| Taxes | 450/3 | €6,885 | €9,870 | +€2,986 | +43.4% |
| Remuneration and social security | 454/9 | €13,084 | €15,575 | +€2,491 | +19.0% |
| Remuneration, social security and pensions | 62 | €128,029 | €119,874 | -€8,155 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,048 | €14,241 | -€2,807 | -16.5% |
| Other operating charges | 640/8 | €487 | €526 | +€38 | +7.9% |
| Gross operating margin | 9900 | €139,805 | €131,854 | -€7,951 | -5.7% |
| Operating profit (loss) | 9901 | -€5,759 | -€2,786 | +€2,973 | +51.6% |
| Financial income | 75/76B | €23 | €0 | -€23 | -99.8% |
| Recurring financial income | 75 | €23 | €0 | -€23 | -99.8% |
| Financial charges | 65/66B | €5,208 | €6,882 | +€1,674 | +32.1% |
| Recurring financial charges | 65 | €5,208 | €6,882 | +€1,674 | +32.1% |
| Profit (loss) for the period before taxes | 9903 | -€10,944 | -€9,669 | +€1,275 | +11.7% |
| Income taxes | 67/77 | €552 | €477 | -€75 | -13.5% |
| Profit (loss) for the period | 9904 | -€11,496 | -€10,146 | +€1,350 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,496 | -€10,146 | +€1,350 | +11.7% |
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.