Belgiums Finest: 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.
Belgiums Finest
Largest movements
- Receivables within one year +€10,311
up €10,311 (+86.7%), from €11,891 to €22,202
of which Other amounts receivable: +€13,513
- Cash -€2,314
down €2,314 (-27.1%), from €8,527 to €6,213
mainly Receivables within one year (-€10,311) and Advances received (-€7,260)
- Tangible fixed assets -€1,355
down €1,355 (-27.6%), from €4,904 to €3,549
- Intangible fixed assets -€1,000
down €1,000 (-52.2%), from €1,917 to €917
- Profit (loss) carried forward +€9,291
up €9,291 (+58.5%), from €15,879 to €25,170
- Advances received -€7,260
no longer reported in 2025 (was €7,260)
- Tax, wage and social debts +€2,961
up €2,961 (+141%), from €2,100 to €5,061
- Trade debts +€650
new in 2025: €650
- Gross operating margin -€4,396
down €4,396 (-22.4%), from €19,650 to €15,254
- Taxes -€874
down €874 (-22.9%), from €3,814 to €2,940
- Other operating charges +€270
new in 2025: €270
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 | €27,239 | €32,881 | +€5,642 | +20.7% |
| Fixed assets | 21/28 | €6,821 | €4,466 | -€2,355 | -34.5% |
| Intangible fixed assets | 21 | €1,917 | €917 | -€1,000 | -52.2% |
| Tangible fixed assets | 22/27 | €4,904 | €3,549 | -€1,355 | -27.6% |
| Other tangible fixed assets | 26 | €4,904 | €3,549 | -€1,355 | -27.6% |
| Current assets | 29/58 | €20,418 | €28,415 | +€7,997 | +39.2% |
| Amounts receivable within one year | 40/41 | €11,891 | €22,202 | +€10,311 | +86.7% |
| Trade receivables | 40 | €6,000 | €2,798 | -€3,202 | -53.4% |
| Other amounts receivable | 41 | €5,891 | €19,404 | +€13,513 | +229% |
| Cash at bank and in hand | 54/58 | €8,527 | €6,213 | -€2,314 | -27.1% |
| Total equity and liabilities | 10/49 | €27,239 | €32,881 | +€5,642 | +20.7% |
| Equity | 10/15 | €17,879 | €27,170 | +€9,291 | +52.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,879 | €25,170 | +€9,291 | +58.5% |
| Amounts payable | 17/49 | €9,360 | €5,711 | -€3,649 | -39.0% |
| Amounts payable within one year | 42/48 | €9,360 | €5,711 | -€3,649 | -39.0% |
| Trade debts | 44 | - | €650 | +€650 | |
| Suppliers | 440/4 | - | €650 | +€650 | |
| Advances received on contracts in progress | 46 | €7,260 | - | -€7,260 | |
| Taxes, remuneration and social security | 45 | €2,100 | €5,061 | +€2,961 | +141% |
| Taxes | 450/3 | €2,100 | €5,061 | +€2,961 | +141% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,355 | €2,355 | = | 0.0% |
| Other operating charges | 640/8 | - | €270 | +€270 | |
| Gross operating margin | 9900 | €19,650 | €15,254 | -€4,396 | -22.4% |
| Operating profit (loss) | 9901 | €17,295 | €12,629 | -€4,666 | -27.0% |
| Financial charges | 65/66B | €206 | €398 | +€192 | +92.9% |
| Recurring financial charges | 65 | €206 | €398 | +€192 | +92.9% |
| Profit (loss) for the period before taxes | 9903 | €17,089 | €12,231 | -€4,858 | -28.4% |
| Income taxes | 67/77 | €3,814 | €2,940 | -€874 | -22.9% |
| Profit (loss) for the period | 9904 | €13,274 | €9,291 | -€3,983 | -30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,274 | €9,291 | -€3,983 | -30.0% |
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 26 October 2026 via checked.be.