BELGOOBEER: what changed
Two fiscal 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.
BELGOOBEER
Largest movements
- Cash +€261,243
up €261,243 (+213.9%), from €122,148 to €383,391
mainly Current investments (+€103,033) and Depreciation (+€86,121)
- Current investments -€103,033
no longer reported in 2025 (was €103,033)
- Tangible fixed assets -€66,767
down €66,767 (-12.9%), from €517,326 to €450,559
of which Plant, machinery and equipment: -€42,405
- Receivables within one year -€15,097
down €15,097 (-10.4%), from €145,594 to €130,497
of which Other amounts receivable: -€14,405
- Reserves +€84,123
up €84,123 (+16.5%), from €509,858 to €593,981
of which Distributable reserves: +€84,123
- Debts after one year -€36,020
down €36,020 (-27.6%), from €130,454 to €94,434
- Trade debts +€23,124
up €23,124 (+40.3%), from €57,421 to €80,545
- Gross operating margin +€50,763
up €50,763 (+16.5%), from €307,687 to €358,450
- Staff costs -€24,766
down €24,766 (-15.3%), from €161,841 to €137,075
- Taxes +€20,114
up €20,114 (+210.4%), from €9,559 to €29,672
- Financial charges -€5,530
down €5,530 (-28.2%), from €19,580 to €14,050
of which Financial charges: -€5,280
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 | €1,032,533 | €1,101,587 | +€69,054 | +6.7% |
| Fixed assets | 21/28 | €518,911 | €452,144 | -€66,767 | -12.9% |
| Tangible fixed assets | 22/27 | €517,326 | €450,559 | -€66,767 | -12.9% |
| Land and buildings | 22 | €200,958 | €176,866 | -€24,093 | -12.0% |
| Plant, machinery and equipment | 23 | €316,099 | €273,694 | -€42,405 | -13.4% |
| Furniture and vehicles | 24 | €268 | - | -€268 | |
| Financial fixed assets | 28 | €1,585 | €1,585 | = | 0.0% |
| Current assets | 29/58 | €513,622 | €649,443 | +€135,821 | +26.4% |
| Stocks and contracts in progress | 3 | €141,185 | €135,555 | -€5,630 | -4.0% |
| Stocks | 30/36 | €141,185 | €135,555 | -€5,630 | -4.0% |
| Amounts receivable within one year | 40/41 | €145,594 | €130,497 | -€15,097 | -10.4% |
| Trade receivables | 40 | €118,374 | €117,681 | -€692 | -0.6% |
| Other amounts receivable | 41 | €27,220 | €12,816 | -€14,405 | -52.9% |
| Current investments | 50/53 | €103,033 | - | -€103,033 | |
| Cash at bank and in hand | 54/58 | €122,148 | €383,391 | +€261,243 | +213.9% |
| Deferred charges and accrued income | 490/1 | €1,662 | - | -€1,662 | |
| Total equity and liabilities | 10/49 | €1,032,533 | €1,101,587 | +€69,054 | +6.7% |
| Equity | 10/15 | €615,358 | €699,481 | +€84,123 | +13.7% |
| Contributions | 10/11 | €105,500 | €105,500 | = | 0.0% |
| Reserves | 13 | €509,858 | €593,981 | +€84,123 | +16.5% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €507,858 | €591,981 | +€84,123 | +16.6% |
| Amounts payable | 17/49 | €417,175 | €402,106 | -€15,069 | -3.6% |
| Amounts payable after more than one year | 17 | €130,454 | €94,434 | -€36,020 | -27.6% |
| Financial debts | 170/4 | €130,454 | €94,434 | -€36,020 | -27.6% |
| Amounts payable within one year | 42/48 | €284,918 | €307,672 | +€22,754 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €36,360 | €37,237 | +€877 | +2.4% |
| Trade debts | 44 | €57,421 | €80,545 | +€23,124 | +40.3% |
| Suppliers | 440/4 | €57,421 | €80,545 | +€23,124 | +40.3% |
| Advances received on contracts in progress | 46 | €2,029 | - | -€2,029 | |
| Taxes, remuneration and social security | 45 | €52,651 | €62,165 | +€9,514 | +18.1% |
| Taxes | 450/3 | €41,711 | €43,591 | +€1,879 | +4.5% |
| Remuneration and social security | 454/9 | €10,940 | €18,574 | +€7,635 | +69.8% |
| Other amounts payable | 47/48 | €136,457 | €127,725 | -€8,732 | -6.4% |
| Accrued charges and deferred income | 492/3 | €1,803 | - | -€1,803 | |
| Remuneration, social security and pensions | 62 | €161,841 | €137,075 | -€24,766 | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,608 | €86,121 | +€513 | +0.6% |
| Other operating charges | 640/8 | €7,574 | €8,233 | +€659 | +8.7% |
| Gross operating margin | 9900 | €307,687 | €358,450 | +€50,763 | +16.5% |
| Operating profit (loss) | 9901 | €52,665 | €127,022 | +€74,357 | +141.2% |
| Financial income | 75/76B | €585 | €823 | +€238 | +40.6% |
| Recurring financial income | 75 | €585 | €823 | +€238 | +40.6% |
| Financial charges | 65/66B | €19,580 | €14,050 | -€5,530 | -28.2% |
| Recurring financial charges | 65 | €19,330 | €14,050 | -€5,280 | -27.3% |
| Non-recurring financial charges | 66B | €250 | - | -€250 | |
| Profit (loss) for the period before taxes | 9903 | €33,671 | €113,795 | +€80,124 | +238.0% |
| Income taxes | 67/77 | €9,559 | €29,672 | +€20,114 | +210.4% |
| Profit (loss) for the period | 9904 | €24,112 | €84,123 | +€60,010 | +248.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,112 | €84,123 | +€60,010 | +248.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.