BELGRAVIA: 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.
BELGRAVIA
Largest movements
- Receivables within one year +€3,835
up €3,835 (+338%), from €1,135 to €4,970
of which Trade receivables: +€3,835
- Tangible fixed assets -€812
down €812 (-14.1%), from €5,781 to €4,969
of which Land and buildings: -€426
- Cash +€562
up €562 (+1.4%), from €39,794 to €40,356
mainly Other debts (+€4,020) and Net result for the year (+€1,545)
- Other debts +€4,020
up €4,020 (+30.5%), from €13,163 to €17,183
- Tax, wage and social debts -€3,113
down €3,113 (-74.9%), from €4,157 to €1,044
- Reserves +€1,545
up €1,545 (+14.3%), from €10,790 to €12,334
- Trade debts +€1,133
new in 2025: €1,133
- Gross operating margin -€5,639
down €5,639 (-60.6%), from €9,300 to €3,661
- Taxes -€2,082
down €2,082 (-73.0%), from €2,851 to €769
- Depreciation +€404
up €404 (+98.7%), from €409 to €812
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 | €46,710 | €50,295 | +€3,585 | +7.7% |
| Fixed assets | 21/28 | €5,781 | €4,969 | -€812 | -14.1% |
| Tangible fixed assets | 22/27 | €5,781 | €4,969 | -€812 | -14.1% |
| Land and buildings | 22 | €4,234 | €3,809 | -€426 | -10.1% |
| Plant, machinery and equipment | 23 | €1,547 | €1,160 | -€387 | -25.0% |
| Current assets | 29/58 | €40,929 | €45,326 | +€4,397 | +10.7% |
| Amounts receivable within one year | 40/41 | €1,135 | €4,970 | +€3,835 | +338% |
| Trade receivables | 40 | €1,133 | €4,968 | +€3,835 | +338% |
| Other amounts receivable | 41 | €2 | €2 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €39,794 | €40,356 | +€562 | +1.4% |
| Total equity and liabilities | 10/49 | €46,710 | €50,295 | +€3,585 | +7.7% |
| Equity | 10/15 | €29,390 | €30,934 | +€1,545 | +5.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,790 | €12,334 | +€1,545 | +14.3% |
| Distributable reserves | 133 | €10,790 | €12,334 | +€1,545 | +14.3% |
| Amounts payable | 17/49 | €17,320 | €19,361 | +€2,040 | +11.8% |
| Amounts payable within one year | 42/48 | €17,320 | €19,361 | +€2,040 | +11.8% |
| Trade debts | 44 | - | €1,133 | +€1,133 | |
| Suppliers | 440/4 | - | €1,133 | +€1,133 | |
| Taxes, remuneration and social security | 45 | €4,157 | €1,044 | -€3,113 | -74.9% |
| Taxes | 450/3 | €4,157 | €1,044 | -€3,113 | -74.9% |
| Other amounts payable | 47/48 | €13,163 | €17,183 | +€4,020 | +30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €409 | €812 | +€404 | +98.7% |
| Other operating charges | 640/8 | €446 | €470 | +€23 | +5.2% |
| Gross operating margin | 9900 | €9,300 | €3,661 | -€5,639 | -60.6% |
| Operating profit (loss) | 9901 | €8,444 | €2,379 | -€6,065 | -71.8% |
| Financial income | 75/76B | €30 | - | -€30 | |
| Recurring financial income | 75 | €30 | - | -€30 | |
| Financial charges | 65/66B | €71 | €65 | -€5 | -7.5% |
| Recurring financial charges | 65 | €71 | €65 | -€5 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €8,404 | €2,314 | -€6,090 | -72.5% |
| Income taxes | 67/77 | €2,851 | €769 | -€2,082 | -73.0% |
| Profit (loss) for the period | 9904 | €5,552 | €1,545 | -€4,008 | -72.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,552 | €1,545 | -€4,008 | -72.2% |
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 30 October 2026 via checked.be.