Belgum: 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.
Belgum
Largest movements
- Tangible fixed assets -€59,129
down €59,129 (-59.0%), from €100,179 to €41,050
of which Furniture and vehicles: -€58,282
- Receivables within one year +€47,847
up €47,847 (+37.8%), from €126,690 to €174,537
of which Trade receivables: +€28,382
- Stocks and contracts +€10,175
up €10,175 (+196%), from €5,200 to €15,375
- Cash -€4,799
down €4,799 (-14.5%), from €33,069 to €28,271
mainly Receivables within one year (-€47,847) and Debts after one year (-€20,133)
- Debts after one year -€20,133
down €20,133 (-41.5%), from €48,540 to €28,407
- Profit (loss) carried forward +€19,602
up €19,602 (+37.2%), from €52,670 to €72,272
- Tax, wage and social debts -€6,493
down €6,493 (-24.4%), from €26,582 to €20,090
of which Taxes: -€6,602
- Staff costs -€17,492
down €17,492 (-84.6%), from €20,666 to €3,174
- Gross operating margin +€10,388
up €10,388 (+16.9%), from €61,432 to €71,820
- Taxes +€8,887
up €8,887 (+145%), from €6,137 to €15,024
- Depreciation -€3,826
down €3,826 (-26.0%), from €14,724 to €10,898
- Other operating charges -€2,029
down €2,029 (-40.8%), from €4,979 to €2,950
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 | €265,138 | €259,232 | -€5,906 | -2.2% |
| Fixed assets | 21/28 | €100,179 | €41,050 | -€59,129 | -59.0% |
| Tangible fixed assets | 22/27 | €100,179 | €41,050 | -€59,129 | -59.0% |
| Land and buildings | 22 | €7,050 | €6,757 | -€293 | -4.2% |
| Plant, machinery and equipment | 23 | €1,255 | €701 | -€555 | -44.2% |
| Furniture and vehicles | 24 | €91,874 | €33,592 | -€58,282 | -63.4% |
| Current assets | 29/58 | €164,959 | €218,182 | +€53,224 | +32.3% |
| Stocks and contracts in progress | 3 | €5,200 | €15,375 | +€10,175 | +196% |
| Stocks | 30/36 | €5,200 | €15,375 | +€10,175 | +196% |
| Amounts receivable within one year | 40/41 | €126,690 | €174,537 | +€47,847 | +37.8% |
| Trade receivables | 40 | €75,684 | €104,067 | +€28,382 | +37.5% |
| Other amounts receivable | 41 | €51,005 | €70,470 | +€19,465 | +38.2% |
| Cash at bank and in hand | 54/58 | €33,069 | €28,271 | -€4,799 | -14.5% |
| Total equity and liabilities | 10/49 | €265,138 | €259,232 | -€5,906 | -2.2% |
| Equity | 10/15 | €153,779 | €173,381 | +€19,602 | +12.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,109 | €1,109 | = | 0.0% |
| Non-distributable reserves | 130/1 | €55 | €55 | = | 0.0% |
| Reserves not available under the articles | 1311 | €55 | €55 | = | 0.0% |
| Distributable reserves | 133 | €1,053 | €1,053 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,670 | €72,272 | +€19,602 | +37.2% |
| Amounts payable | 17/49 | €111,359 | €85,851 | -€25,508 | -22.9% |
| Amounts payable after more than one year | 17 | €48,540 | €28,407 | -€20,133 | -41.5% |
| Financial debts | 170/4 | €48,540 | €28,407 | -€20,133 | -41.5% |
| Amounts payable within one year | 42/48 | €62,819 | €57,444 | -€5,375 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €19,180 | €20,133 | +€953 | +5.0% |
| Trade debts | 44 | €17,057 | €17,222 | +€165 | +1.0% |
| Suppliers | 440/4 | €17,057 | €17,222 | +€165 | +1.0% |
| Taxes, remuneration and social security | 45 | €26,582 | €20,090 | -€6,493 | -24.4% |
| Taxes | 450/3 | €20,764 | €14,162 | -€6,602 | -31.8% |
| Remuneration and social security | 454/9 | €5,818 | €5,928 | +€110 | +1.9% |
| Remuneration, social security and pensions | 62 | €20,666 | €3,174 | -€17,492 | -84.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,724 | €10,898 | -€3,826 | -26.0% |
| Other operating charges | 640/8 | €4,979 | €2,950 | -€2,029 | -40.8% |
| Non-recurring operating charges | 66A | €1,770 | €20,378 | +€18,608 | +1,051% |
| Gross operating margin | 9900 | €61,432 | €71,820 | +€10,388 | +16.9% |
| Operating profit (loss) | 9901 | €19,294 | €34,420 | +€15,127 | +78.4% |
| Financial income | 75/76B | €2,169 | €3,352 | +€1,182 | +54.5% |
| Recurring financial income | 75 | €2,169 | €3,352 | +€1,182 | +54.5% |
| Financial charges | 65/66B | €2,849 | €3,146 | +€297 | +10.4% |
| Recurring financial charges | 65 | €2,849 | €3,146 | +€297 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €18,614 | €34,626 | +€16,012 | +86.0% |
| Income taxes | 67/77 | €6,137 | €15,024 | +€8,887 | +145% |
| Profit (loss) for the period | 9904 | €12,477 | €19,602 | +€7,125 | +57.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,477 | €19,602 | +€7,125 | +57.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.