Belgium Performance: 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.
Belgium Performance
Largest movements
- Receivables within one year -€13,453
down €13,453 (-44.7%), from €30,112 to €16,659
- Cash -€10,083
down €10,083 (-23.1%), from €43,590 to €33,507
mainly Net result for the year (-€13,011) and Trade debts (-€12,880)
- Tangible fixed assets -€1,346
down €1,346 (-34.6%), from €3,895 to €2,549
- Profit (loss) carried forward -€13,011
down €13,011 (-69.8%), from €18,642 to €5,631
- Trade debts -€12,880
down €12,880 (-85.4%), from €15,077 to €2,197
- Tax, wage and social debts +€7,898
up €7,898 (+62.8%), from €12,570 to €20,469
of which Remuneration and social security: +€8,800
- Other debts -€7,043
down €7,043 (-24.0%), from €29,307 to €22,264
- Gross operating margin -€28,718
down €28,718, from €27,540 to -€1,178
- Taxes +€2,927
up €2,927 (+48.6%), from €6,021 to €8,948
- Financial charges +€399
up €399 (+128.2%), from €311 to €710
- Other operating charges -€349
down €349 (-29.6%), from €1,177 to €829
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 | €77,597 | €52,836 | -€24,761 | -31.9% |
| Fixed assets | 21/28 | €3,895 | €2,549 | -€1,346 | -34.6% |
| Tangible fixed assets | 22/27 | €3,895 | €2,549 | -€1,346 | -34.6% |
| Furniture and vehicles | 24 | €3,895 | €2,549 | -€1,346 | -34.6% |
| Current assets | 29/58 | €73,702 | €50,287 | -€23,415 | -31.8% |
| Amounts receivable within one year | 40/41 | €30,112 | €16,659 | -€13,453 | -44.7% |
| Trade receivables | 40 | €30,112 | €16,659 | -€13,453 | -44.7% |
| Cash at bank and in hand | 54/58 | €43,590 | €33,507 | -€10,083 | -23.1% |
| Deferred charges and accrued income | 490/1 | - | €121 | +€121 | |
| Total equity and liabilities | 10/49 | €77,597 | €52,836 | -€24,761 | -31.9% |
| Equity | 10/15 | €20,642 | €7,631 | -€13,011 | -63.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,642 | €5,631 | -€13,011 | -69.8% |
| Amounts payable | 17/49 | €56,955 | €45,205 | -€11,750 | -20.6% |
| Amounts payable within one year | 42/48 | €56,955 | €44,930 | -€12,025 | -21.1% |
| Trade debts | 44 | €15,077 | €2,197 | -€12,880 | -85.4% |
| Suppliers | 440/4 | €15,077 | €2,197 | -€12,880 | -85.4% |
| Taxes, remuneration and social security | 45 | €12,570 | €20,469 | +€7,898 | +62.8% |
| Taxes | 450/3 | €10,970 | €10,069 | -€902 | -8.2% |
| Remuneration and social security | 454/9 | €1,600 | €10,400 | +€8,800 | +550.0% |
| Other amounts payable | 47/48 | €29,307 | €22,264 | -€7,043 | -24.0% |
| Accrued charges and deferred income | 492/3 | - | €275 | +€275 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,389 | €1,346 | -€42 | -3.1% |
| Other operating charges | 640/8 | €1,177 | €829 | -€349 | -29.6% |
| Gross operating margin | 9900 | €27,540 | -€1,178 | -€28,718 | |
| Operating profit (loss) | 9901 | €24,974 | -€3,353 | -€28,327 | |
| Financial charges | 65/66B | €311 | €710 | +€399 | +128.2% |
| Recurring financial charges | 65 | €311 | €710 | +€399 | +128.2% |
| Profit (loss) for the period before taxes | 9903 | €24,663 | -€4,063 | -€28,726 | |
| Income taxes | 67/77 | €6,021 | €8,948 | +€2,927 | +48.6% |
| Profit (loss) for the period | 9904 | €18,642 | -€13,011 | -€31,654 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,642 | -€13,011 | -€31,654 |
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.