BELGOFINA: 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.
BELGOFINA
Largest movements
- Receivables within one year -€2,174
down €2,174 (-20.4%), from €10,653 to €8,479
- Tangible fixed assets -€504
down €504 (-9.7%), from €5,197 to €4,693
- Cash +€474
up €474 (+527%), from €90 to €564
mainly Trade debts (+€2,418) and Receivables within one year (+€2,174)
- Profit (loss) carried forward -€2,827
down €2,827 (-12.2%), from -€23,107 to -€25,934
- Trade debts +€2,418
up €2,418 (+69.3%), from €3,490 to €5,908
- Other debts -€1,504
down €1,504 (-9.1%), from €16,518 to €15,014
- Tax, wage and social debts -€455
no longer reported in 2025 (was €455)
- Depreciation +€968
up €968 (+141%), from €684 to €1,652
- Gross operating margin -€656
down €656 (-112%), from -€586 to -€1,242
- Financial income -€164
down €164 (-23.6%), from €697 to €533
- Financial charges -€105
down €105 (-61.8%), from €170 to €65
- Other operating charges -€25
down €25 (-5.9%), from €425 to €400
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 | €16,637 | €14,269 | -€2,368 | -14.2% |
| Fixed assets | 21/28 | €5,197 | €4,693 | -€504 | -9.7% |
| Tangible fixed assets | 22/27 | €5,197 | €4,693 | -€504 | -9.7% |
| Furniture and vehicles | 24 | €5,197 | €4,693 | -€504 | -9.7% |
| Current assets | 29/58 | €11,440 | €9,576 | -€1,864 | -16.3% |
| Amounts receivable within one year | 40/41 | €10,653 | €8,479 | -€2,174 | -20.4% |
| Other amounts receivable | 41 | €10,653 | €8,479 | -€2,174 | -20.4% |
| Cash at bank and in hand | 54/58 | €90 | €564 | +€474 | +527% |
| Deferred charges and accrued income | 490/1 | €697 | €533 | -€164 | -23.6% |
| Total equity and liabilities | 10/49 | €16,637 | €14,269 | -€2,368 | -14.2% |
| Equity | 10/15 | -€3,826 | -€6,653 | -€2,827 | -73.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €681 | €681 | = | 0.0% |
| Non-distributable reserves | 130/1 | €681 | €681 | = | 0.0% |
| Reserves not available under the articles | 1311 | €681 | €681 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,107 | -€25,934 | -€2,827 | -12.2% |
| Amounts payable | 17/49 | €20,463 | €20,922 | +€458 | +2.2% |
| Amounts payable within one year | 42/48 | €20,463 | €20,922 | +€458 | +2.2% |
| Trade debts | 44 | €3,490 | €5,908 | +€2,418 | +69.3% |
| Suppliers | 440/4 | €3,490 | €5,908 | +€2,418 | +69.3% |
| Taxes, remuneration and social security | 45 | €455 | - | -€455 | |
| Taxes | 450/3 | €455 | - | -€455 | |
| Other amounts payable | 47/48 | €16,518 | €15,014 | -€1,504 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €684 | €1,652 | +€968 | +141% |
| Other operating charges | 640/8 | €425 | €400 | -€25 | -5.9% |
| Gross operating margin | 9900 | -€586 | -€1,242 | -€656 | -112% |
| Operating profit (loss) | 9901 | -€1,696 | -€3,294 | -€1,598 | -94.2% |
| Financial income | 75/76B | €697 | €533 | -€164 | -23.6% |
| Recurring financial income | 75 | €697 | €533 | -€164 | -23.6% |
| Financial charges | 65/66B | €170 | €65 | -€105 | -61.8% |
| Recurring financial charges | 65 | €170 | €65 | -€105 | -61.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,168 | -€2,826 | -€1,657 | -142% |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€1,168 | -€2,827 | -€1,658 | -142% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,168 | -€2,827 | -€1,658 | -142% |
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 28 October 2026 via checked.be.