BELGOUM: 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.
BELGOUM
Largest movements
- Receivables within one year -€27,075
down €27,075 (-50.6%), from €53,488 to €26,413
of which Trade receivables: -€23,298
- Deferred charges and accrued income +€6,559
up €6,559 (+695.9%), from €942 to €7,501
- Tangible fixed assets -€5,540
down €5,540 (-28.5%), from €19,407 to €13,867
- Stocks and contracts +€4,816
new in 2025: €4,816
- Trade debts -€43,209
no longer reported in 2025 (was €43,209)
- Other debts +€26,618
new in 2025: €26,618
- Profit (loss) carried forward -€9,743
down €9,743 (-35.9%), from €27,173 to €17,430
- Short-term financial debts +€5,094
up €5,094 (+324453.5%), from €2 to €5,095
- Gross operating margin -€42,318
down €42,318 (-77.0%), from €54,990 to €12,672
- Staff costs -€3,838
down €3,838 (-20.6%), from €18,603 to €14,765
- Depreciation -€2,753
down €2,753 (-33.2%), from €8,293 to €5,540
- Financial charges +€1,223
up €1,223 (+284.6%), from €430 to €1,652
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,837 | €52,597 | -€21,240 | -28.8% |
| Fixed assets | 21/28 | €19,407 | €13,867 | -€5,540 | -28.5% |
| Tangible fixed assets | 22/27 | €19,407 | €13,867 | -€5,540 | -28.5% |
| Furniture and vehicles | 24 | €19,407 | €13,867 | -€5,540 | -28.5% |
| Current assets | 29/58 | €54,430 | €38,730 | -€15,700 | -28.8% |
| Stocks and contracts in progress | 3 | - | €4,816 | +€4,816 | |
| Stocks | 30/36 | - | €4,816 | +€4,816 | |
| Amounts receivable within one year | 40/41 | €53,488 | €26,413 | -€27,075 | -50.6% |
| Trade receivables | 40 | €42,990 | €19,692 | -€23,298 | -54.2% |
| Other amounts receivable | 41 | €10,498 | €6,721 | -€3,777 | -36.0% |
| Deferred charges and accrued income | 490/1 | €942 | €7,501 | +€6,559 | +695.9% |
| Total equity and liabilities | 10/49 | €73,837 | €52,597 | -€21,240 | -28.8% |
| Equity | 10/15 | €30,473 | €20,730 | -€9,743 | -32.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Outside capital | 11 | €3,000 | €3,000 | = | 0.0% |
| Share premium | 1100/10 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €300 | €300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €300 | €300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €300 | €300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,173 | €17,430 | -€9,743 | -35.9% |
| Amounts payable | 17/49 | €43,364 | €31,867 | -€11,497 | -26.5% |
| Amounts payable within one year | 42/48 | €43,364 | €31,867 | -€11,497 | -26.5% |
| Financial debts | 43 | €2 | €5,095 | +€5,094 | +324453.5% |
| Credit institutions | 430/8 | €2 | €5,095 | +€5,094 | +324453.5% |
| Trade debts | 44 | €43,209 | - | -€43,209 | |
| Suppliers | 440/4 | €43,209 | - | -€43,209 | |
| Taxes, remuneration and social security | 45 | €153 | €153 | = | 0.0% |
| Taxes | 450/3 | €153 | €153 | = | 0.0% |
| Other amounts payable | 47/48 | - | €26,618 | +€26,618 | |
| Remuneration, social security and pensions | 62 | €18,603 | €14,765 | -€3,838 | -20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,293 | €5,540 | -€2,753 | -33.2% |
| Other operating charges | 640/8 | €191 | €457 | +€266 | +138.9% |
| Gross operating margin | 9900 | €54,990 | €12,672 | -€42,318 | -77.0% |
| Operating profit (loss) | 9901 | €27,902 | -€8,091 | -€35,993 | |
| Financial charges | 65/66B | €430 | €1,652 | +€1,223 | +284.6% |
| Recurring financial charges | 65 | €430 | €1,652 | +€1,223 | +284.6% |
| Profit (loss) for the period before taxes | 9903 | €27,473 | -€9,743 | -€37,216 | |
| Profit (loss) for the period | 9904 | €27,473 | -€9,743 | -€37,216 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,473 | -€9,743 | -€37,216 |
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 7 October 2026 via checked.be.