Belhome Staging: 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.
Belhome Staging
Largest movements
- Stocks and contracts +€19,394
up €19,394 (+15.2%), from €127,902 to €147,296
- Tangible fixed assets +€17,813
up €17,813 (+203%), from €8,767 to €26,580
of which Furniture and vehicles: +€18,524
- Cash -€4,972
down €4,972 (-44.3%), from €11,217 to €6,244
mainly Current portion of long-term debt (-€82,920) and Investment in fixed assets (net) (-€20,040)
- Deferred charges and accrued income +€4,638
up €4,638 (+632%), from €734 to €5,372
- Receivables within one year +€2,813
up €2,813 (+18.9%), from €14,886 to €17,699
of which Other amounts receivable: +€3,417
- Debts after one year +€95,258
new in 2025: €95,258
- Current portion of long-term debt -€82,920
down €82,920 (-96.7%), from €85,711 to €2,792
- Profit (loss) carried forward +€41,786
up €41,786 (+313%), from €13,335 to €55,121
- Other debts -€15,938
down €15,938 (-26.8%), from €59,376 to €43,438
- Gross operating margin +€52,157
up €52,157, from -€12,908 to €39,248
- Write-downs -€11,241
down €11,241 (-100%), from -€11,241 to -€22,482
- Taxes +€9,977
up €9,977 (+7,794%), from €128 to €10,105
- Financial charges +€3,582
up €3,582 (+226%), from €1,587 to €5,169
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 | €168,180 | €206,044 | +€37,864 | +22.5% |
| Formation expenses | 20 | €983 | €571 | -€412 | -42.0% |
| Fixed assets | 21/28 | €12,458 | €28,861 | +€16,403 | +132% |
| Intangible fixed assets | 21 | €3,691 | €2,281 | -€1,410 | -38.2% |
| Tangible fixed assets | 22/27 | €8,767 | €26,580 | +€17,813 | +203% |
| Plant, machinery and equipment | 23 | €4,829 | €4,118 | -€711 | -14.7% |
| Furniture and vehicles | 24 | €3,938 | €22,462 | +€18,524 | +470% |
| Current assets | 29/58 | €154,739 | €176,612 | +€21,873 | +14.1% |
| Stocks and contracts in progress | 3 | €127,902 | €147,296 | +€19,394 | +15.2% |
| Stocks | 30/36 | €127,902 | €147,296 | +€19,394 | +15.2% |
| Amounts receivable within one year | 40/41 | €14,886 | €17,699 | +€2,813 | +18.9% |
| Trade receivables | 40 | €14,642 | €14,038 | -€604 | -4.1% |
| Other amounts receivable | 41 | €244 | €3,662 | +€3,417 | +1,399% |
| Cash at bank and in hand | 54/58 | €11,217 | €6,244 | -€4,972 | -44.3% |
| Deferred charges and accrued income | 490/1 | €734 | €5,372 | +€4,638 | +632% |
| Total equity and liabilities | 10/49 | €168,180 | €206,044 | +€37,864 | +22.5% |
| Equity | 10/15 | €18,335 | €60,121 | +€41,786 | +228% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,335 | €55,121 | +€41,786 | +313% |
| Amounts payable | 17/49 | €149,845 | €145,923 | -€3,923 | -2.6% |
| Amounts payable after more than one year | 17 | - | €95,258 | +€95,258 | |
| Financial debts | 170/4 | - | €95,258 | +€95,258 | |
| Amounts payable within one year | 42/48 | €149,845 | €50,665 | -€99,180 | -66.2% |
| Current portion of amounts payable after more than one year | 42 | €85,711 | €2,792 | -€82,920 | -96.7% |
| Trade debts | 44 | €491 | €804 | +€313 | +63.7% |
| Suppliers | 440/4 | €491 | €804 | +€313 | +63.7% |
| Taxes, remuneration and social security | 45 | €4,267 | €3,631 | -€635 | -14.9% |
| Taxes | 450/3 | €3,067 | €2,131 | -€935 | -30.5% |
| Remuneration and social security | 454/9 | €1,200 | €1,500 | +€300 | +25.0% |
| Other amounts payable | 47/48 | €59,376 | €43,438 | -€15,938 | -26.8% |
| Non-recurring operating income | 76A | - | €3,334 | +€3,334 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,079 | €4,049 | -€30 | -0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€11,241 | -€22,482 | -€11,241 | -100% |
| Other operating charges | 640/8 | €290 | €637 | +€347 | +120% |
| Gross operating margin | 9900 | -€12,908 | €39,248 | +€52,157 | |
| Operating profit (loss) | 9901 | -€6,036 | €57,045 | +€63,081 | |
| Financial income | 75/76B | €0 | €15 | +€15 | +73,500% |
| Recurring financial income | 75 | €0 | €15 | +€15 | +73,500% |
| Financial charges | 65/66B | €1,587 | €5,169 | +€3,582 | +226% |
| Recurring financial charges | 65 | €1,587 | €5,169 | +€3,582 | +226% |
| Profit (loss) for the period before taxes | 9903 | -€7,623 | €51,891 | +€59,514 | |
| Income taxes | 67/77 | €128 | €10,105 | +€9,977 | +7,794% |
| Profit (loss) for the period | 9904 | -€7,751 | €41,786 | +€49,537 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,751 | €41,786 | +€49,537 |
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 18 October 2026 via checked.be.