BelgoAmerican: 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.
BelgoAmerican
Largest movements
- Cash +€49,244
up €49,244 (+13.5%), from €365,857 to €415,101
mainly Net result for the year (+€53,111) and Tax, wage and social debts (+€15,824)
- Receivables within one year +€17,572
up €17,572 (+24.7%), from €71,190 to €88,763
of which Trade receivables: +€28,333
- Reserves +€53,111
up €53,111 (+12.4%), from €427,223 to €480,334
- Tax, wage and social debts +€15,824
up €15,824 (+5,671%), from €279 to €16,103
of which Taxes: +€15,824
- Gross operating margin +€103,977
up €103,977, from -€34,577 to €69,400
- Taxes +€15,824
up €15,824 (+5,671%), from €279 to €16,103
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 | €438,409 | €505,406 | +€66,997 | +15.3% |
| Fixed assets | 21/28 | €219 | €0 | -€219 | -100% |
| Tangible fixed assets | 22/27 | €219 | €0 | -€219 | -100% |
| Plant, machinery and equipment | 23 | €219 | €0 | -€219 | -100% |
| Current assets | 29/58 | €438,190 | €505,406 | +€67,216 | +15.3% |
| Amounts receivable within one year | 40/41 | €71,190 | €88,763 | +€17,572 | +24.7% |
| Trade receivables | 40 | €21,010 | €49,343 | +€28,333 | +135% |
| Other amounts receivable | 41 | €50,180 | €39,419 | -€10,761 | -21.4% |
| Cash at bank and in hand | 54/58 | €365,857 | €415,101 | +€49,244 | +13.5% |
| Deferred charges and accrued income | 490/1 | €1,142 | €1,542 | +€400 | +35.0% |
| Total equity and liabilities | 10/49 | €438,409 | €505,406 | +€66,997 | +15.3% |
| Equity | 10/15 | €434,223 | €487,334 | +€53,111 | +12.2% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €427,223 | €480,334 | +€53,111 | +12.4% |
| Distributable reserves | 133 | €427,223 | €480,334 | +€53,111 | +12.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,186 | €18,072 | +€13,886 | +332% |
| Amounts payable within one year | 42/48 | €4,186 | €18,072 | +€13,886 | +332% |
| Trade debts | 44 | €3,907 | €1,969 | -€1,938 | -49.6% |
| Suppliers | 440/4 | €3,907 | €1,969 | -€1,938 | -49.6% |
| Taxes, remuneration and social security | 45 | €279 | €16,103 | +€15,824 | +5,671% |
| Taxes | 450/3 | €279 | €16,103 | +€15,824 | +5,671% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €219 | €219 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,435 | €1,069 | -€366 | -25.5% |
| Gross operating margin | 9900 | -€34,577 | €69,400 | +€103,977 | |
| Operating profit (loss) | 9901 | -€36,231 | €68,112 | +€104,343 | |
| Financial income | 75/76B | €1,438 | €1,204 | -€234 | -16.3% |
| Recurring financial income | 75 | €1,438 | €1,204 | -€234 | -16.3% |
| Financial charges | 65/66B | €95 | €102 | +€7 | +7.9% |
| Recurring financial charges | 65 | €95 | €102 | +€7 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | -€34,887 | €69,214 | +€104,101 | |
| Income taxes | 67/77 | €279 | €16,103 | +€15,824 | +5,671% |
| Profit (loss) for the period | 9904 | -€35,166 | €53,111 | +€88,277 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,166 | €53,111 | +€88,277 |
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 30 October 2026 via checked.be.