BelgSecurity: 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.
BelgSecurity
Largest movements
- Tangible fixed assets +€33,171
up €33,171 (+457.4%), from €7,251 to €40,423
of which Furniture and vehicles: +€32,350
- Cash -€3,822
down €3,822 (-97.3%), from €3,929 to €107
mainly Investment in fixed assets (net) (-€42,114)
- Receivables within one year -€3,451
down €3,451 (-18.5%), from €18,613 to €15,163
of which Trade receivables: -€2,625
- Short-term financial debts +€17,000
new in 2025: €17,000
- Profit (loss) carried forward +€6,787
up €6,787 (+53.1%), from -€12,791 to -€6,004
- Trade debts +€1,410
up €1,410 (+45.1%), from €3,125 to €4,534
- Debts after one year +€701
up €701 (+3.7%), from €19,000 to €19,701
- Purchases and services +€120,916
new in 2025: €120,916
- Gross operating margin -€7,912
down €7,912 (-32.0%), from €24,705 to €16,794
- Depreciation +€5,773
up €5,773 (+182.1%), from €3,170 to €8,943
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
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 | €29,794 | €55,692 | +€25,899 | +86.9% |
| Fixed assets | 21/28 | €7,251 | €40,423 | +€33,171 | +457.4% |
| Tangible fixed assets | 22/27 | €7,251 | €40,423 | +€33,171 | +457.4% |
| Plant, machinery and equipment | 23 | - | €821 | +€821 | |
| Furniture and vehicles | 24 | €7,251 | €39,601 | +€32,350 | +446.1% |
| Current assets | 29/58 | €22,543 | €15,270 | -€7,273 | -32.3% |
| Amounts receivable within one year | 40/41 | €18,613 | €15,163 | -€3,451 | -18.5% |
| Trade receivables | 40 | €16,350 | €13,725 | -€2,625 | -16.1% |
| Other amounts receivable | 41 | €2,263 | €1,438 | -€826 | -36.5% |
| Cash at bank and in hand | 54/58 | €3,929 | €107 | -€3,822 | -97.3% |
| Total equity and liabilities | 10/49 | €29,794 | €55,692 | +€25,899 | +86.9% |
| Equity | 10/15 | €7,669 | €14,456 | +€6,787 | +88.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,791 | -€6,004 | +€6,787 | +53.1% |
| Amounts payable | 17/49 | €22,125 | €41,236 | +€19,111 | +86.4% |
| Amounts payable after more than one year | 17 | €19,000 | €19,701 | +€701 | +3.7% |
| Financial debts | 170/4 | €19,000 | €19,701 | +€701 | +3.7% |
| Amounts payable within one year | 42/48 | €3,125 | €21,534 | +€18,410 | +589.2% |
| Financial debts | 43 | - | €17,000 | +€17,000 | |
| Credit institutions | 430/8 | - | €17,000 | +€17,000 | |
| Trade debts | 44 | €3,125 | €4,534 | +€1,410 | +45.1% |
| Suppliers | 440/4 | €3,125 | €4,534 | +€1,410 | +45.1% |
| Taxes, remuneration and social security | 45 | - | €0 | = | |
| Taxes | 450/3 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €120,916 | +€120,916 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,170 | €8,943 | +€5,773 | +182.1% |
| Other operating charges | 640/8 | €676 | €687 | +€11 | +1.7% |
| Gross operating margin | 9900 | €24,705 | €16,794 | -€7,912 | -32.0% |
| Operating profit (loss) | 9901 | €20,860 | €7,164 | -€13,696 | -65.7% |
| Financial charges | 65/66B | €358 | €377 | +€19 | +5.4% |
| Recurring financial charges | 65 | €358 | €377 | +€19 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €20,502 | €6,787 | -€13,715 | -66.9% |
| Profit (loss) for the period | 9904 | €20,502 | €6,787 | -€13,715 | -66.9% |
| Profit (loss) for the period to be appropriated | 9905 | €20,502 | €6,787 | -€13,715 | -66.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.