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
- Cash +€95,456
up €95,456 (+32.3%), from €295,211 to €390,667
mainly Receivables within one year (+€58,354) and Depreciation (+€49,565)
- Receivables within one year -€58,354
down €58,354 (-65.3%), from €89,298 to €30,944
- Tangible fixed assets -€44,270
down €44,270 (-6.7%), from €661,495 to €617,225
of which Land and buildings: -€37,860
- Debts after one year -€21,675
down €21,675 (-22.2%), from €97,718 to €76,043
- Reserves +€19,754
up €19,754 (+2.2%), from €878,756 to €898,509
of which Distributable reserves: +€19,754
- Gross operating margin -€23,481
down €23,481 (-17.5%), from €134,009 to €110,528
- Financial income -€1,834
down €1,834 (-76.2%), from €2,408 to €574
- Taxes +€1,748
up €1,748 (+13.3%), from €13,098 to €14,845
- Depreciation -€1,721
down €1,721 (-3.4%), from €51,286 to €49,565
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 | €1,070,240 | €1,063,409 | -€6,830 | -0.6% |
| Fixed assets | 21/28 | €661,881 | €617,611 | -€44,270 | -6.7% |
| Tangible fixed assets | 22/27 | €661,495 | €617,225 | -€44,270 | -6.7% |
| Land and buildings | 22 | €642,267 | €604,406 | -€37,860 | -5.9% |
| Furniture and vehicles | 24 | €19,229 | €12,819 | -€6,410 | -33.3% |
| Financial fixed assets | 28 | €386 | €386 | = | 0.0% |
| Current assets | 29/58 | €408,359 | €445,798 | +€37,440 | +9.2% |
| Amounts receivable after more than one year | 29 | €22,500 | €22,500 | = | 0.0% |
| Other amounts receivable | 291 | €22,500 | €22,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €89,298 | €30,944 | -€58,354 | -65.3% |
| Trade receivables | 40 | €89,298 | €30,944 | -€58,354 | -65.3% |
| Cash at bank and in hand | 54/58 | €295,211 | €390,667 | +€95,456 | +32.3% |
| Deferred charges and accrued income | 490/1 | €1,350 | €1,688 | +€338 | +25.0% |
| Total equity and liabilities | 10/49 | €1,070,240 | €1,063,409 | -€6,830 | -0.6% |
| Equity | 10/15 | €891,156 | €910,909 | +€19,754 | +2.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €878,756 | €898,509 | +€19,754 | +2.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €878,756 | €898,509 | +€19,754 | +2.2% |
| Amounts payable | 17/49 | €179,084 | €152,500 | -€26,584 | -14.8% |
| Amounts payable after more than one year | 17 | €97,718 | €76,043 | -€21,675 | -22.2% |
| Financial debts | 170/4 | €97,718 | €76,043 | -€21,675 | -22.2% |
| Amounts payable within one year | 42/48 | €81,366 | €75,337 | -€6,029 | -7.4% |
| Current portion of amounts payable after more than one year | 42 | €24,857 | €22,819 | -€2,039 | -8.2% |
| Trade debts | 44 | €13,961 | €13,065 | -€896 | -6.4% |
| Suppliers | 440/4 | €13,961 | €13,065 | -€896 | -6.4% |
| Taxes, remuneration and social security | 45 | €18,220 | €20,838 | +€2,618 | +14.4% |
| Taxes | 450/3 | €18,220 | €20,838 | +€2,618 | +14.4% |
| Other amounts payable | 47/48 | €24,328 | €18,616 | -€5,712 | -23.5% |
| Accrued charges and deferred income | 492/3 | - | €1,120 | +€1,120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,286 | €49,565 | -€1,721 | -3.4% |
| Other operating charges | 640/8 | €8,752 | €9,164 | +€411 | +4.7% |
| Gross operating margin | 9900 | €134,009 | €110,528 | -€23,481 | -17.5% |
| Operating profit (loss) | 9901 | €73,971 | €51,800 | -€22,171 | -30.0% |
| Financial income | 75/76B | €2,408 | €574 | -€1,834 | -76.2% |
| Recurring financial income | 75 | €2,408 | €574 | -€1,834 | -76.2% |
| Financial charges | 65/66B | €3,307 | €2,775 | -€533 | -16.1% |
| Recurring financial charges | 65 | €3,307 | €2,775 | -€533 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €73,071 | €49,599 | -€23,473 | -32.1% |
| Income taxes | 67/77 | €13,098 | €14,845 | +€1,748 | +13.3% |
| Profit (loss) for the period | 9904 | €59,974 | €34,754 | -€25,220 | -42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €59,974 | €34,754 | -€25,220 | -42.1% |
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 28 October 2026 via checked.be.