BELGOCAR: 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.
BELGOCAR
Largest movements
- Cash +€92,156
up €92,156 (+119.4%), from €77,152 to €169,308
mainly Net result for the year (+€81,965) and Receivables within one year (+€74,045)
- Receivables within one year -€74,045
down €74,045 (-97.8%), from €75,716 to €1,671
of which Trade receivables: -€72,211
- Stocks and contracts +€28,292
up €28,292 (+26.4%), from €107,325 to €135,617
- Tangible fixed assets -€8,365
down €8,365 (-2.1%), from €405,594 to €397,228
of which Land and buildings: -€13,333
- Profit (loss) carried forward +€81,965
up €81,965 (+34.0%), from €240,734 to €322,699
- Debts after one year -€36,000
down €36,000 (-13.4%), from €269,000 to €233,000
- Tax, wage and social debts -€8,220
down €8,220 (-8.1%), from €101,263 to €93,043
of which Taxes: -€8,581
- Gross operating margin -€161,811
down €161,811 (-46.9%), from €344,965 to €183,154
- Depreciation -€44,452
down €44,452 (-61.8%), from €71,878 to €27,426
- Taxes -€29,177
down €29,177 (-55.0%), from €53,042 to €23,866
- Staff costs +€11,355
up €11,355 (+35.3%), from €32,122 to €43,477
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 | €679,287 | €717,324 | +€38,037 | +5.6% |
| Fixed assets | 21/28 | €419,094 | €410,728 | -€8,365 | -2.0% |
| Tangible fixed assets | 22/27 | €405,594 | €397,228 | -€8,365 | -2.1% |
| Land and buildings | 22 | €386,667 | €373,333 | -€13,333 | -3.4% |
| Plant, machinery and equipment | 23 | €622 | €333 | -€289 | -46.4% |
| Furniture and vehicles | 24 | €18,305 | €23,562 | +€5,257 | +28.7% |
| Financial fixed assets | 28 | €13,500 | €13,500 | = | 0.0% |
| Current assets | 29/58 | €260,193 | €306,596 | +€46,403 | +17.8% |
| Stocks and contracts in progress | 3 | €107,325 | €135,617 | +€28,292 | +26.4% |
| Stocks | 30/36 | €107,325 | €135,617 | +€28,292 | +26.4% |
| Amounts receivable within one year | 40/41 | €75,716 | €1,671 | -€74,045 | -97.8% |
| Trade receivables | 40 | €73,700 | €1,489 | -€72,211 | -98.0% |
| Other amounts receivable | 41 | €2,016 | €182 | -€1,834 | -91.0% |
| Cash at bank and in hand | 54/58 | €77,152 | €169,308 | +€92,156 | +119.4% |
| Total equity and liabilities | 10/49 | €679,287 | €717,324 | +€38,037 | +5.6% |
| Equity | 10/15 | €242,034 | €323,999 | +€81,965 | +33.9% |
| Contributions | 10/11 | €1,300 | €1,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €240,734 | €322,699 | +€81,965 | +34.0% |
| Amounts payable | 17/49 | €437,253 | €393,325 | -€43,927 | -10.0% |
| Amounts payable after more than one year | 17 | €269,000 | €233,000 | -€36,000 | -13.4% |
| Financial debts | 170/4 | €269,000 | €233,000 | -€36,000 | -13.4% |
| Amounts payable within one year | 42/48 | €168,253 | €160,325 | -€7,927 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €36,000 | €36,000 | = | 0.0% |
| Trade debts | 44 | €27,327 | €31,255 | +€3,928 | +14.4% |
| Suppliers | 440/4 | €27,327 | €31,255 | +€3,928 | +14.4% |
| Taxes, remuneration and social security | 45 | €101,263 | €93,043 | -€8,220 | -8.1% |
| Taxes | 450/3 | €90,423 | €81,842 | -€8,581 | -9.5% |
| Remuneration and social security | 454/9 | €10,839 | €11,200 | +€361 | +3.3% |
| Other amounts payable | 47/48 | €3,663 | €27 | -€3,636 | -99.3% |
| Remuneration, social security and pensions | 62 | €32,122 | €43,477 | +€11,355 | +35.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,878 | €27,426 | -€44,452 | -61.8% |
| Other operating charges | 640/8 | €8,083 | €6,200 | -€1,883 | -23.3% |
| Gross operating margin | 9900 | €344,965 | €183,154 | -€161,811 | -46.9% |
| Operating profit (loss) | 9901 | €232,882 | €106,051 | -€126,831 | -54.5% |
| Financial income | 75/76B | €1 | €2 | +€1 | +93.3% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +93.3% |
| Financial charges | 65/66B | €2,015 | €222 | -€1,792 | -89.0% |
| Recurring financial charges | 65 | €2,015 | €222 | -€1,792 | -89.0% |
| Profit (loss) for the period before taxes | 9903 | €230,868 | €105,830 | -€125,038 | -54.2% |
| Income taxes | 67/77 | €53,042 | €23,866 | -€29,177 | -55.0% |
| Profit (loss) for the period | 9904 | €177,826 | €81,965 | -€95,861 | -53.9% |
| Profit (loss) for the period to be appropriated | 9905 | €177,826 | €81,965 | -€95,861 | -53.9% |
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 11 October 2026 via checked.be.