BELGOFIRE: 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.
BELGOFIRE
Largest movements
- Cash -€493,401
down €493,401 (-76.6%), from €644,470 to €151,069
mainly Short-term financial debts (-€650,000) and Contributions, distributions and other (-€420,315)
- Stocks and contracts -€486,795
down €486,795 (-21.3%), from €2.3m to €1.8m
- Receivables within one year -€160,885
down €160,885 (-34.2%), from €469,824 to €308,938
of which Trade receivables: -€213,456
- Short-term financial debts -€650,000
down €650,000 (-52.0%), from €1.3m to €600,000
- Other debts -€335,106
down €335,106 (-44.3%), from €755,694 to €420,588
- Debts after one year -€250,000
down €250,000 (-100%), from €250,000 to €0
- Trade debts +€134,543
up €134,543 (+135%), from €99,539 to €234,082
- Gross operating margin -€365,188
down €365,188 (-36.6%), from €998,992 to €633,804
- Financial income -€46,420
down €46,420 (-77.3%), from €60,039 to €13,620
- Taxes -€15,439
down €15,439 (-10.2%), from €150,666 to €135,227
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 | €3,436,231 | €2,309,168 | -€1.1m | -32.8% |
| Fixed assets | 21/28 | €36,415 | €37,668 | +€1,253 | +3.4% |
| Intangible fixed assets | 21 | €36,415 | €37,668 | +€1,253 | +3.4% |
| Current assets | 29/58 | €3,399,816 | €2,271,500 | -€1.1m | -33.2% |
| Stocks and contracts in progress | 3 | €2,283,468 | €1,796,673 | -€486,795 | -21.3% |
| Stocks | 30/36 | €2,283,468 | €1,796,673 | -€486,795 | -21.3% |
| Amounts receivable within one year | 40/41 | €469,824 | €308,938 | -€160,885 | -34.2% |
| Trade receivables | 40 | €469,824 | €256,367 | -€213,456 | -45.4% |
| Other amounts receivable | 41 | - | €52,571 | +€52,571 | |
| Cash at bank and in hand | 54/58 | €644,470 | €151,069 | -€493,401 | -76.6% |
| Deferred charges and accrued income | 490/1 | €2,055 | €14,820 | +€12,765 | +621% |
| Total equity and liabilities | 10/49 | €3,436,231 | €2,309,168 | -€1.1m | -32.8% |
| Equity | 10/15 | €1,062,528 | €1,046,077 | -€16,451 | -1.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,001,028 | €984,577 | -€16,451 | -1.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50 | €50 | = | 0.0% |
| Distributable reserves | 133 | €994,828 | €978,377 | -€16,451 | -1.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,373,703 | €1,263,092 | -€1.1m | -46.8% |
| Amounts payable after more than one year | 17 | €250,000 | €0 | -€250,000 | -100% |
| Financial debts | 170/4 | €250,000 | €0 | -€250,000 | -100% |
| Amounts payable within one year | 42/48 | €2,112,153 | €1,262,826 | -€849,326 | -40.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €1,250,000 | €600,000 | -€650,000 | -52.0% |
| Credit institutions | 430/8 | €1,250,000 | €600,000 | -€650,000 | -52.0% |
| Trade debts | 44 | €99,539 | €234,082 | +€134,543 | +135% |
| Suppliers | 440/4 | €99,539 | €234,082 | +€134,543 | +135% |
| Taxes, remuneration and social security | 45 | €6,920 | €8,156 | +€1,237 | +17.9% |
| Taxes | 450/3 | €2,615 | €466 | -€2,149 | -82.2% |
| Remuneration and social security | 454/9 | €4,305 | €7,691 | +€3,386 | +78.7% |
| Other amounts payable | 47/48 | €755,694 | €420,588 | -€335,106 | -44.3% |
| Accrued charges and deferred income | 492/3 | €11,551 | €265 | -€11,286 | -97.7% |
| Remuneration, social security and pensions | 62 | €50,817 | €51,250 | +€432 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,972 | €12,243 | -€2,729 | -18.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €738 | €2,565 | +€1,828 | +248% |
| Other operating charges | 640/8 | €4,692 | €1,137 | -€3,555 | -75.8% |
| Gross operating margin | 9900 | €998,992 | €633,804 | -€365,188 | -36.6% |
| Operating profit (loss) | 9901 | €927,773 | €566,610 | -€361,163 | -38.9% |
| Financial income | 75/76B | €60,039 | €13,620 | -€46,420 | -77.3% |
| Recurring financial income | 75 | €60,039 | €13,620 | -€46,420 | -77.3% |
| Financial charges | 65/66B | €35,391 | €41,139 | +€5,748 | +16.2% |
| Recurring financial charges | 65 | €35,391 | €41,139 | +€5,748 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €952,421 | €539,090 | -€413,331 | -43.4% |
| Income taxes | 67/77 | €150,666 | €135,227 | -€15,439 | -10.2% |
| Profit (loss) for the period | 9904 | €801,756 | €403,863 | -€397,892 | -49.6% |
| Profit (loss) for the period to be appropriated | 9905 | €801,756 | €403,863 | -€397,892 | -49.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.