BELIAN: 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.
BELIAN
Largest movements
- Receivables within one year -€48,129
down €48,129 (-11.3%), from €424,154 to €376,025
of which Other amounts receivable: -€46,429
- Tangible fixed assets -€18,939
down €18,939 (-3.2%), from €588,438 to €569,499
of which Land and buildings: -€12,401
- Debts after one year -€25,947
down €25,947 (-55.3%), from €46,893 to €20,946
- Reserves -€17,460
down €17,460 (-3.5%), from €502,073 to €484,614
of which Tax-exempt reserves: -€17,460
- Other debts -€12,548
down €12,548 (-33.4%), from €37,618 to €25,070
- Gross operating margin +€20,174
up €20,174, from -€6,861 to €13,313
- Other operating charges +€10,783
up €10,783 (+1533.4%), from €703 to €11,487
- Depreciation -€7,602
down €7,602 (-21.5%), from €35,289 to €27,687
- Taxes +€7,379
up €7,379 (+518.8%), from €1,422 to €8,801
- Financial charges -€2,190
down €2,190 (-17.6%), from €12,470 to €10,279
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 | €1,012,791 | €945,721 | -€67,070 | -6.6% |
| Fixed assets | 21/28 | €588,588 | €569,649 | -€18,939 | -3.2% |
| Tangible fixed assets | 22/27 | €588,438 | €569,499 | -€18,939 | -3.2% |
| Land and buildings | 22 | €553,512 | €541,110 | -€12,401 | -2.2% |
| Plant, machinery and equipment | 23 | €2,918 | €4,480 | +€1,562 | +53.5% |
| Furniture and vehicles | 24 | €32,008 | €23,908 | -€8,100 | -25.3% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €424,203 | €376,072 | -€48,131 | -11.3% |
| Amounts receivable within one year | 40/41 | €424,154 | €376,025 | -€48,129 | -11.3% |
| Trade receivables | 40 | €8,442 | €6,742 | -€1,700 | -20.1% |
| Other amounts receivable | 41 | €415,712 | €369,283 | -€46,429 | -11.2% |
| Cash at bank and in hand | 54/58 | €49 | €48 | -€2 | -3.6% |
| Total equity and liabilities | 10/49 | €1,012,791 | €945,721 | -€67,070 | -6.6% |
| Equity | 10/15 | €688,957 | €675,034 | -€13,923 | -2.0% |
| Contributions | 10/11 | €19,800 | €19,800 | = | 0.0% |
| Reserves | 13 | €502,073 | €484,614 | -€17,460 | -3.5% |
| Non-distributable reserves | 130/1 | €1,980 | €1,980 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,980 | €1,980 | = | 0.0% |
| Tax-exempt reserves | 132 | €500,093 | €482,634 | -€17,460 | -3.5% |
| Profit (loss) carried forward | 14 | €167,084 | €170,620 | +€3,537 | +2.1% |
| Provisions and deferred taxes | 16 | €129,394 | €123,372 | -€6,022 | -4.7% |
| Deferred taxes | 168 | €129,394 | €123,372 | -€6,022 | -4.7% |
| Amounts payable | 17/49 | €194,440 | €147,315 | -€47,125 | -24.2% |
| Amounts payable after more than one year | 17 | €46,893 | €20,946 | -€25,947 | -55.3% |
| Financial debts | 170/4 | €46,893 | €20,946 | -€25,947 | -55.3% |
| Amounts payable within one year | 42/48 | €147,547 | €126,369 | -€21,178 | -14.4% |
| Current portion of amounts payable after more than one year | 42 | €104,227 | €95,947 | -€8,280 | -7.9% |
| Trade debts | 44 | €4,223 | €4,256 | +€33 | +0.8% |
| Suppliers | 440/4 | €4,223 | €4,256 | +€33 | +0.8% |
| Taxes, remuneration and social security | 45 | €1,479 | €1,096 | -€383 | -25.9% |
| Taxes | 450/3 | €1,479 | €1,096 | -€383 | -25.9% |
| Other amounts payable | 47/48 | €37,618 | €25,070 | -€12,548 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,289 | €27,687 | -€7,602 | -21.5% |
| Other operating charges | 640/8 | €703 | €11,487 | +€10,783 | +1533.4% |
| Gross operating margin | 9900 | -€6,861 | €13,313 | +€20,174 | |
| Operating profit (loss) | 9901 | -€42,853 | -€25,861 | +€16,993 | +39.7% |
| Financial income | 75/76B | €26,892 | €24,997 | -€1,896 | -7.0% |
| Recurring financial income | 75 | €26,892 | €24,997 | -€1,896 | -7.0% |
| Financial charges | 65/66B | €12,470 | €10,279 | -€2,190 | -17.6% |
| Recurring financial charges | 65 | €12,470 | €10,279 | -€2,190 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | -€28,431 | -€11,144 | +€17,287 | +60.8% |
| Transfer from deferred taxes | 780 | €6,556 | €6,022 | -€534 | -8.1% |
| Income taxes | 67/77 | €1,422 | €8,801 | +€7,379 | +518.8% |
| Profit (loss) for the period | 9904 | -€23,297 | -€13,923 | +€9,374 | +40.2% |
| Transfer from tax-exempt reserves | 789 | €19,061 | €17,460 | -€1,602 | -8.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,236 | €3,537 | +€7,773 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.