BELGOIMMO: 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.
BELGOIMMO
Largest movements
- Stocks and contracts -€2.2m
down €2.2m (-19.8%), from €11.3m to €9.1m
- Deferred charges and accrued income -€366,145
down €366,145 (-22.7%), from €1.6m to €1.2m
- Short-term financial debts -€3.9m
down €3.9m (-33.0%), from €11.8m to €7.9m
- Other debts +€679,778
up €679,778 (+19.5%), from €3.5m to €4.2m
- Trade debts +€598,762
up €598,762 (+80.7%), from €741,735 to €1.3m
- Financial charges -€338,712
down €338,712 (-46.0%), from €735,662 to €396,950
- Gross operating margin -€250,814
down €250,814 (-26.4%), from €951,312 to €700,498
- Financial income +€19,136
new in 2025: €19,136
- Other operating charges -€13,491
down €13,491 (-8.0%), from €168,260 to €154,769
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 | €17,233,927 | €14,781,980 | -€2.5m | -14.2% |
| Fixed assets | 21/28 | €1,977,113 | €1,977,113 | = | 0.0% |
| Financial fixed assets | 28 | €1,977,113 | €1,977,113 | = | 0.0% |
| Current assets | 29/58 | €15,256,814 | €12,804,867 | -€2.5m | -16.1% |
| Stocks and contracts in progress | 3 | €11,282,320 | €9,051,676 | -€2.2m | -19.8% |
| Stocks | 30/36 | €11,282,320 | €9,051,676 | -€2.2m | -19.8% |
| Amounts receivable within one year | 40/41 | €2,291,653 | €2,434,225 | +€142,572 | +6.2% |
| Trade receivables | 40 | €155,354 | €38,964 | -€116,390 | -74.9% |
| Other amounts receivable | 41 | €2,136,300 | €2,395,261 | +€258,962 | +12.1% |
| Cash at bank and in hand | 54/58 | €72,841 | €75,110 | +€2,270 | +3.1% |
| Deferred charges and accrued income | 490/1 | €1,610,000 | €1,243,855 | -€366,145 | -22.7% |
| Total equity and liabilities | 10/49 | €17,233,927 | €14,781,980 | -€2.5m | -14.2% |
| Equity | 10/15 | €1,190,479 | €1,238,937 | +€48,459 | +4.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,182,419 | €1,230,877 | +€48,459 | +4.1% |
| Provisions and deferred taxes | 16 | - | €100,000 | +€100,000 | |
| Provisions for liabilities and charges | 160/5 | - | €100,000 | +€100,000 | |
| Other liabilities and charges | 164/5 | - | €100,000 | +€100,000 | |
| Amounts payable | 17/49 | €16,043,448 | €13,443,043 | -€2.6m | -16.2% |
| Amounts payable after more than one year | 17 | €10,975 | €23,280 | +€12,305 | +112.1% |
| Other amounts payable | 178/9 | €10,975 | €23,280 | +€12,305 | +112.1% |
| Amounts payable within one year | 42/48 | €16,032,473 | €13,419,763 | -€2.6m | -16.3% |
| Financial debts | 43 | €11,800,420 | €7,909,170 | -€3.9m | -33.0% |
| Credit institutions | 430/8 | €11,800,420 | €7,909,170 | -€3.9m | -33.0% |
| Trade debts | 44 | €741,735 | €1,340,497 | +€598,762 | +80.7% |
| Suppliers | 440/4 | €741,735 | €1,340,497 | +€598,762 | +80.7% |
| Other amounts payable | 47/48 | €3,490,319 | €4,170,096 | +€679,778 | +19.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€722 | €1,964 | +€2,686 | |
| Other operating charges | 640/8 | €168,260 | €154,769 | -€13,491 | -8.0% |
| Non-recurring operating charges | 66A | - | €100,000 | +€100,000 | |
| Gross operating margin | 9900 | €951,312 | €700,498 | -€250,814 | -26.4% |
| Operating profit (loss) | 9901 | €783,774 | €443,765 | -€340,009 | -43.4% |
| Financial income | 75/76B | - | €19,136 | +€19,136 | |
| Recurring financial income | 75 | - | €19,136 | +€19,136 | |
| Financial charges | 65/66B | €735,662 | €396,950 | -€338,712 | -46.0% |
| Recurring financial charges | 65 | €735,662 | €396,950 | -€338,712 | -46.0% |
| Profit (loss) for the period before taxes | 9903 | €48,112 | €65,951 | +€17,839 | +37.1% |
| Income taxes | 67/77 | €12,218 | €17,492 | +€5,274 | +43.2% |
| Profit (loss) for the period | 9904 | €35,894 | €48,459 | +€12,565 | +35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €35,894 | €48,459 | +€12,565 | +35.0% |
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 9 October 2026 via checked.be.