BELGOLAC: 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.
BELGOLAC
Largest movements
- Cash +€16,962
up €16,962 (+216%), from €7,842 to €24,804
mainly Net result for the year (+€23,676) and Other debts (+€22,801)
- Tangible fixed assets -€13,643
down €13,643 (-3.2%), from €429,336 to €415,693
of which Land and buildings: -€11,988
- Receivables within one year -€5,747
down €5,747 (-49.1%), from €11,705 to €5,958
- Debts after one year -€23,064
down €23,064 (-8.9%), from €260,433 to €237,369
- Other debts +€22,801
up €22,801 (+46.3%), from €49,199 to €72,000
- Profit (loss) carried forward -€6,324
down €6,324 (-8.1%), from €77,651 to €71,328
- Financial charges +€1,635
up €1,635 (+29.2%), from €5,601 to €7,235
- Taxes -€871
down €871 (-9.2%), from €9,511 to €8,640
- Gross operating margin -€663
down €663 (-1.1%), from €61,270 to €60,606
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 | €448,964 | €449,236 | +€271 | +0.1% |
| Fixed assets | 21/28 | €429,418 | €415,774 | -€13,643 | -3.2% |
| Tangible fixed assets | 22/27 | €429,336 | €415,693 | -€13,643 | -3.2% |
| Land and buildings | 22 | €398,983 | €386,995 | -€11,988 | -3.0% |
| Plant, machinery and equipment | 23 | €30,353 | €28,697 | -€1,656 | -5.5% |
| Financial fixed assets | 28 | €82 | €82 | = | 0.0% |
| Current assets | 29/58 | €19,547 | €33,461 | +€13,914 | +71.2% |
| Amounts receivable within one year | 40/41 | €11,705 | €5,958 | -€5,747 | -49.1% |
| Trade receivables | 40 | €11,705 | €5,958 | -€5,747 | -49.1% |
| Cash at bank and in hand | 54/58 | €7,842 | €24,804 | +€16,962 | +216% |
| Deferred charges and accrued income | 490/1 | - | €2,700 | +€2,700 | |
| Total equity and liabilities | 10/49 | €448,964 | €449,236 | +€271 | +0.1% |
| Equity | 10/15 | €98,102 | €91,779 | -€6,324 | -6.4% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,651 | €71,328 | -€6,324 | -8.1% |
| Amounts payable | 17/49 | €350,862 | €357,457 | +€6,595 | +1.9% |
| Amounts payable after more than one year | 17 | €260,433 | €237,369 | -€23,064 | -8.9% |
| Financial debts | 170/4 | €260,433 | €237,369 | -€23,064 | -8.9% |
| Amounts payable within one year | 42/48 | €85,728 | €113,204 | +€27,476 | +32.0% |
| Current portion of amounts payable after more than one year | 42 | €22,719 | €23,064 | +€346 | +1.5% |
| Taxes, remuneration and social security | 45 | €13,811 | €18,140 | +€4,329 | +31.3% |
| Taxes | 450/3 | €13,811 | €18,140 | +€4,329 | +31.3% |
| Other amounts payable | 47/48 | €49,199 | €72,000 | +€22,801 | +46.3% |
| Accrued charges and deferred income | 492/3 | €4,700 | €6,883 | +€2,183 | +46.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,643 | €13,643 | +€0 | 0.0% |
| Other operating charges | 640/8 | €7,179 | €7,412 | +€233 | +3.2% |
| Gross operating margin | 9900 | €61,270 | €60,606 | -€663 | -1.1% |
| Operating profit (loss) | 9901 | €40,447 | €39,551 | -€896 | -2.2% |
| Financial charges | 65/66B | €5,601 | €7,235 | +€1,635 | +29.2% |
| Recurring financial charges | 65 | €5,601 | €7,235 | +€1,635 | +29.2% |
| Profit (loss) for the period before taxes | 9903 | €34,847 | €32,316 | -€2,530 | -7.3% |
| Income taxes | 67/77 | €9,511 | €8,640 | -€871 | -9.2% |
| Profit (loss) for the period | 9904 | €25,336 | €23,676 | -€1,659 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,336 | €23,676 | -€1,659 | -6.5% |
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 19 October 2026 via checked.be.