BELGOSUN: 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.
BELGOSUN
Largest movements
- Deferred charges and accrued income -€8,150
down €8,150 (-50.5%), from €16,150 to €8,000
- Tangible fixed assets +€6,524
up €6,524 (+17.5%), from €37,330 to €43,854
of which Furniture and vehicles: +€6,884
- Cash +€3,254
up €3,254 (+10.4%), from €31,223 to €34,477
mainly Trade debts (+€25,902) and Depreciation (+€10,250)
- Receivables within one year +€2,753
up €2,753 (+9.7%), from €28,269 to €31,021
of which Trade receivables: +€3,993
- Profit (loss) carried forward -€27,788
down €27,788 (-37.6%), from €73,870 to €46,082
- Trade debts +€25,902
up €25,902 (+150%), from €17,257 to €43,159
- Debts after one year +€6,650
new in 2025: €6,650
- Tax, wage and social debts -€4,190
down €4,190 (-35.4%), from €11,843 to €7,653
of which Taxes: -€5,370
- Current portion of long-term debt +€3,668
new in 2025: €3,668
- Purchases and services +€119,770
up €119,770 (+33.9%), from €353,209 to €472,979
- Gross operating margin -€69,729
down €69,729 (-75.3%), from €92,579 to €22,850
- Turnover +€50,041
up €50,041 (+11.2%), from €445,788 to €495,829
- Staff costs -€24,204
down €24,204 (-42.3%), from €57,211 to €33,007
- Taxes -€5,370
down €5,370 (-46.7%), from €11,507 to €6,137
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 | €112,971 | €117,352 | +€4,381 | +3.9% |
| Fixed assets | 21/28 | €37,330 | €43,854 | +€6,524 | +17.5% |
| Tangible fixed assets | 22/27 | €37,330 | €43,854 | +€6,524 | +17.5% |
| Plant, machinery and equipment | 23 | €1,740 | €1,380 | -€360 | -20.7% |
| Furniture and vehicles | 24 | €35,590 | €42,474 | +€6,884 | +19.3% |
| Current assets | 29/58 | €75,641 | €73,498 | -€2,142 | -2.8% |
| Amounts receivable within one year | 40/41 | €28,269 | €31,021 | +€2,753 | +9.7% |
| Trade receivables | 40 | €15,325 | €19,318 | +€3,993 | +26.1% |
| Other amounts receivable | 41 | €12,944 | €11,704 | -€1,240 | -9.6% |
| Cash at bank and in hand | 54/58 | €31,223 | €34,477 | +€3,254 | +10.4% |
| Deferred charges and accrued income | 490/1 | €16,150 | €8,000 | -€8,150 | -50.5% |
| Total equity and liabilities | 10/49 | €112,971 | €117,352 | +€4,381 | +3.9% |
| Equity | 10/15 | €83,870 | €56,082 | -€27,788 | -33.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,870 | €46,082 | -€27,788 | -37.6% |
| Amounts payable | 17/49 | €29,101 | €61,270 | +€32,170 | +111% |
| Amounts payable after more than one year | 17 | - | €6,650 | +€6,650 | |
| Financial debts | 170/4 | - | €6,650 | +€6,650 | |
| Amounts payable within one year | 42/48 | €29,101 | €54,480 | +€25,380 | +87.2% |
| Current portion of amounts payable after more than one year | 42 | - | €3,668 | +€3,668 | |
| Trade debts | 44 | €17,257 | €43,159 | +€25,902 | +150% |
| Suppliers | 440/4 | €17,257 | €43,159 | +€25,902 | +150% |
| Taxes, remuneration and social security | 45 | €11,843 | €7,653 | -€4,190 | -35.4% |
| Taxes | 450/3 | €11,507 | €6,137 | -€5,370 | -46.7% |
| Remuneration and social security | 454/9 | €337 | €1,516 | +€1,179 | +350% |
| Accrued charges and deferred income | 492/3 | - | €140 | +€140 | |
| Turnover | 70 | €445,788 | €495,829 | +€50,041 | +11.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €353,209 | €472,979 | +€119,770 | +33.9% |
| Remuneration, social security and pensions | 62 | €57,211 | €33,007 | -€24,204 | -42.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,918 | €10,250 | +€4,331 | +73.2% |
| Other operating charges | 640/8 | €979 | €718 | -€262 | -26.7% |
| Gross operating margin | 9900 | €92,579 | €22,850 | -€69,729 | -75.3% |
| Operating profit (loss) | 9901 | €28,470 | -€21,124 | -€49,594 | |
| Financial income | 75/76B | €88 | €67 | -€21 | -23.6% |
| Recurring financial income | 75 | €88 | €67 | -€21 | -23.6% |
| Financial charges | 65/66B | €121 | €595 | +€474 | +392% |
| Recurring financial charges | 65 | €121 | €595 | +€474 | +392% |
| Profit (loss) for the period before taxes | 9903 | €28,437 | -€21,652 | -€50,089 | |
| Income taxes | 67/77 | €11,507 | €6,137 | -€5,370 | -46.7% |
| Profit (loss) for the period | 9904 | €16,931 | -€27,788 | -€44,719 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,931 | -€27,788 | -€44,719 |
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 18 October 2026 via checked.be.