BELGOVER: 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.
BELGOVER
Largest movements
- Cash -€23,867
down €23,867 (-13.0%), from €183,284 to €159,417
mainly Other debts (-€14,996) and Tax, wage and social debts (-€14,109)
- Tangible fixed assets +€4,470
up €4,470 (+31.6%), from €14,153 to €18,624
of which Plant, machinery and equipment: +€5,059
- Receivables within one year +€2,509
up €2,509 (+83.8%), from €2,994 to €5,503
- Other debts -€14,996
down €14,996 (-100%), from €14,996 to €0
- Tax, wage and social debts -€14,109
down €14,109 (-81.8%), from €17,244 to €3,135
- Profit (loss) carried forward +€9,040
up €9,040 (+534%), from €1,694 to €10,734
- Trade debts +€5,990
up €5,990 (+7.7%), from €78,116 to €84,106
of which Bills of exchange payable: +€4,144
- Accrued charges and deferred income -€2,813
down €2,813 (-81.8%), from €3,437 to €624
- Gross operating margin -€27,548
down €27,548 (-64.0%), from €43,033 to €15,485
- Taxes -€14,733
down €14,733, from €13,787 to -€946
- Financial income -€2,034
down €2,034 (-88.5%), from €2,298 to €264
- Financial charges -€1,625
down €1,625 (-81.9%), from €1,984 to €359
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €200,431 | €183,543 | -€16,888 | -8.4% |
| Fixed assets | 21/28 | €14,153 | €18,624 | +€4,470 | +31.6% |
| Tangible fixed assets | 22/27 | €14,153 | €18,624 | +€4,470 | +31.6% |
| Plant, machinery and equipment | 23 | €10,941 | €16,000 | +€5,059 | +46.2% |
| Furniture and vehicles | 24 | €3,212 | €2,623 | -€589 | -18.3% |
| Current assets | 29/58 | €186,278 | €164,920 | -€21,358 | -11.5% |
| Amounts receivable within one year | 40/41 | €2,994 | €5,503 | +€2,509 | +83.8% |
| Trade receivables | 40 | €2,994 | €5,503 | +€2,509 | +83.8% |
| Cash at bank and in hand | 54/58 | €183,284 | €159,417 | -€23,867 | -13.0% |
| Total equity and liabilities | 10/49 | €200,431 | €183,543 | -€16,888 | -8.4% |
| Equity | 10/15 | €86,639 | €95,679 | +€9,040 | +10.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €22,972 | €22,972 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €16,774 | €16,774 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,694 | €10,734 | +€9,040 | +534% |
| Amounts payable | 17/49 | €113,792 | €87,865 | -€25,927 | -22.8% |
| Amounts payable within one year | 42/48 | €110,355 | €87,241 | -€23,115 | -20.9% |
| Trade debts | 44 | €78,116 | €84,106 | +€5,990 | +7.7% |
| Suppliers | 440/4 | €1,224 | €3,070 | +€1,846 | +151% |
| Bills of exchange payable | 441 | €76,891 | €81,035 | +€4,144 | +5.4% |
| Taxes, remuneration and social security | 45 | €17,244 | €3,135 | -€14,109 | -81.8% |
| Taxes | 450/3 | €17,244 | €3,135 | -€14,109 | -81.8% |
| Other amounts payable | 47/48 | €14,996 | €0 | -€14,996 | -100% |
| Accrued charges and deferred income | 492/3 | €3,437 | €624 | -€2,813 | -81.8% |
| Non-recurring operating income | 76A | - | €252 | +€252 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,367 | €5,369 | +€3 | +0.1% |
| Other operating charges | 640/8 | €1,749 | €1,927 | +€178 | +10.2% |
| Non-recurring operating charges | 66A | €750 | €0 | -€750 | -100% |
| Gross operating margin | 9900 | €43,033 | €15,485 | -€27,548 | -64.0% |
| Operating profit (loss) | 9901 | €35,167 | €8,189 | -€26,978 | -76.7% |
| Financial income | 75/76B | €2,298 | €264 | -€2,034 | -88.5% |
| Recurring financial income | 75 | €2,298 | €264 | -€2,034 | -88.5% |
| Financial charges | 65/66B | €1,984 | €359 | -€1,625 | -81.9% |
| Recurring financial charges | 65 | €1,984 | €359 | -€1,625 | -81.9% |
| Profit (loss) for the period before taxes | 9903 | €35,481 | €8,093 | -€27,387 | -77.2% |
| Income taxes | 67/77 | €13,787 | -€946 | -€14,733 | |
| Profit (loss) for the period | 9904 | €21,694 | €9,040 | -€12,654 | -58.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,694 | €9,040 | -€12,654 | -58.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.