BELGOSOFT: 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.
BELGOSOFT
Largest movements
- Tangible fixed assets +€475,926
up €475,926 (+66.3%), from €718,176 to €1.2m
of which Land and buildings: +€466,513
- Financial fixed assets -€325,233
no longer reported in 2025 (was €325,233)
- Intangible fixed assets +€161,522
new in 2025: €161,522
- Cash -€48,342
down €48,342 (-62.0%), from €77,969 to €29,627
mainly Investment in fixed assets (net) (-€367,336) and Receivables within one year (-€46,215)
- Receivables within one year +€46,215
up €46,215 (+138%), from €33,509 to €79,723
of which Trade receivables: +€27,181
- Debts after one year +€256,998
up €256,998 (+59.0%), from €435,434 to €692,432
- Other debts +€80,615
up €80,615 (+153%), from €52,541 to €133,157
- Trade debts -€25,332
down €25,332 (-60.7%), from €41,748 to €16,416
- Depreciation +€26,580
up €26,580 (+93.1%), from €28,541 to €55,121
- Gross operating margin -€16,614
down €16,614 (-15.4%), from €107,662 to €91,048
- Taxes -€8,635
down €8,635 (-50.5%), from €17,084 to €8,449
- Financial charges +€7,085
up €7,085 (+48.7%), from €14,564 to €21,649
- Other operating charges -€1,888
down €1,888 (-22.2%), from €8,501 to €6,612
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 | €1,159,318 | €1,468,791 | +€309,473 | +26.7% |
| Fixed assets | 21/28 | €1,043,409 | €1,355,624 | +€312,215 | +29.9% |
| Intangible fixed assets | 21 | - | €161,522 | +€161,522 | |
| Tangible fixed assets | 22/27 | €718,176 | €1,194,102 | +€475,926 | +66.3% |
| Land and buildings | 22 | €671,955 | €1,138,468 | +€466,513 | +69.4% |
| Furniture and vehicles | 24 | €40,217 | €37,911 | -€2,306 | -5.7% |
| Other tangible fixed assets | 26 | €6,003 | €17,722 | +€11,719 | +195% |
| Financial fixed assets | 28 | €325,233 | - | -€325,233 | |
| Current assets | 29/58 | €115,909 | €113,167 | -€2,742 | -2.4% |
| Amounts receivable within one year | 40/41 | €33,509 | €79,723 | +€46,215 | +138% |
| Trade receivables | 40 | €32,545 | €59,726 | +€27,181 | +83.5% |
| Other amounts receivable | 41 | €964 | €19,998 | +€19,034 | +1,975% |
| Current investments | 50/53 | - | €250 | +€250 | |
| Cash at bank and in hand | 54/58 | €77,969 | €29,627 | -€48,342 | -62.0% |
| Deferred charges and accrued income | 490/1 | €4,432 | €3,566 | -€865 | -19.5% |
| Total equity and liabilities | 10/49 | €1,159,318 | €1,468,791 | +€309,473 | +26.7% |
| Equity | 10/15 | €543,538 | €544,323 | +€785 | +0.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €498,027 | €498,812 | +€785 | +0.2% |
| Distributable reserves | 133 | €498,027 | €498,812 | +€785 | +0.2% |
| Profit (loss) carried forward | 14 | €25,511 | €25,511 | = | 0.0% |
| Amounts payable | 17/49 | €615,780 | €924,467 | +€308,687 | +50.1% |
| Amounts payable after more than one year | 17 | €435,434 | €692,432 | +€256,998 | +59.0% |
| Financial debts | 170/4 | €435,434 | €692,432 | +€256,998 | +59.0% |
| Amounts payable within one year | 42/48 | €173,689 | €221,253 | +€47,564 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | €77,243 | €70,000 | -€7,243 | -9.4% |
| Trade debts | 44 | €41,748 | €16,416 | -€25,332 | -60.7% |
| Suppliers | 440/4 | €41,748 | €16,416 | -€25,332 | -60.7% |
| Advances received on contracts in progress | 46 | - | €1,680 | +€1,680 | |
| Taxes, remuneration and social security | 45 | €2,156 | - | -€2,156 | |
| Taxes | 450/3 | €2,156 | - | -€2,156 | |
| Other amounts payable | 47/48 | €52,541 | €133,157 | +€80,615 | +153% |
| Accrued charges and deferred income | 492/3 | €6,657 | €10,783 | +€4,125 | +62.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,541 | €55,121 | +€26,580 | +93.1% |
| Other operating charges | 640/8 | €8,501 | €6,612 | -€1,888 | -22.2% |
| Gross operating margin | 9900 | €107,662 | €91,048 | -€16,614 | -15.4% |
| Operating profit (loss) | 9901 | €70,620 | €29,315 | -€41,305 | -58.5% |
| Financial income | 75/76B | €290 | €1,569 | +€1,279 | +440% |
| Recurring financial income | 75 | €290 | €1,569 | +€1,279 | +440% |
| Financial charges | 65/66B | €14,564 | €21,649 | +€7,085 | +48.7% |
| Recurring financial charges | 65 | €14,564 | €21,649 | +€7,085 | +48.7% |
| Profit (loss) for the period before taxes | 9903 | €56,347 | €9,235 | -€47,112 | -83.6% |
| Income taxes | 67/77 | €17,084 | €8,449 | -€8,635 | -50.5% |
| Profit (loss) for the period | 9904 | €39,262 | €785 | -€38,477 | -98.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,262 | €785 | -€38,477 | -98.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.