BELIBAT: 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.
BELIBAT
Largest movements
- Receivables within one year -€95,831
down €95,831 (-60.1%), from €159,532 to €63,701
of which Trade receivables: -€66,967
- Cash +€78,143
up €78,143 (+283%), from €27,585 to €105,728
mainly Receivables within one year (+€95,831) and Depreciation (+€8,251)
- Tangible fixed assets -€8,251
down €8,251 (-27.1%), from €30,465 to €22,214
of which Furniture and vehicles: -€5,982
- Other debts -€21,749
down €21,749 (-93.3%), from €23,311 to €1,562
- Debts after one year -€6,893
down €6,893 (-37.3%), from €18,460 to €11,567
- Gross operating margin -€39,514
down €39,514 (-77.6%), from €50,910 to €11,396
- Taxes -€13,965
down €13,965 (-91.4%), from €15,277 to €1,312
- Depreciation +€2,998
up €2,998 (+57.1%), from €5,253 to €8,251
- Other operating charges -€865
down €865 (-50.3%), from €1,720 to €855
- Financial income -€784
down €784 (-35.3%), from €2,223 to €1,439
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 | €224,628 | €196,673 | -€27,955 | -12.4% |
| Fixed assets | 21/28 | €30,465 | €22,214 | -€8,251 | -27.1% |
| Tangible fixed assets | 22/27 | €30,465 | €22,214 | -€8,251 | -27.1% |
| Plant, machinery and equipment | 23 | €4,428 | €2,160 | -€2,269 | -51.2% |
| Furniture and vehicles | 24 | €26,037 | €20,054 | -€5,982 | -23.0% |
| Current assets | 29/58 | €194,163 | €174,458 | -€19,704 | -10.1% |
| Stocks and contracts in progress | 3 | €1,353 | €1,133 | -€220 | -16.3% |
| Stocks | 30/36 | €1,353 | €1,133 | -€220 | -16.3% |
| Amounts receivable within one year | 40/41 | €159,532 | €63,701 | -€95,831 | -60.1% |
| Trade receivables | 40 | €98,435 | €31,468 | -€66,967 | -68.0% |
| Other amounts receivable | 41 | €61,097 | €32,233 | -€28,864 | -47.2% |
| Cash at bank and in hand | 54/58 | €27,585 | €105,728 | +€78,143 | +283% |
| Deferred charges and accrued income | 490/1 | €5,694 | €3,897 | -€1,797 | -31.6% |
| Total equity and liabilities | 10/49 | €224,628 | €196,673 | -€27,955 | -12.4% |
| Equity | 10/15 | €168,988 | €169,482 | +€494 | +0.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €162,788 | €162,788 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,000 | €16,000 | = | 0.0% |
| Distributable reserves | 133 | €146,788 | €146,788 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €494 | +€494 | |
| Amounts payable | 17/49 | €55,640 | €27,190 | -€28,450 | -51.1% |
| Amounts payable after more than one year | 17 | €18,460 | €11,567 | -€6,893 | -37.3% |
| Financial debts | 170/4 | €18,460 | €11,567 | -€6,893 | -37.3% |
| Amounts payable within one year | 42/48 | €37,108 | €15,567 | -€21,540 | -58.0% |
| Current portion of amounts payable after more than one year | 42 | €6,590 | €6,893 | +€303 | +4.6% |
| Financial debts | 43 | €1,387 | €0 | -€1,387 | -100% |
| Credit institutions | 430/8 | €1,387 | €0 | -€1,387 | -100% |
| Trade debts | 44 | €4,548 | €5,622 | +€1,074 | +23.6% |
| Suppliers | 440/4 | €4,548 | €5,622 | +€1,074 | +23.6% |
| Taxes, remuneration and social security | 45 | €1,272 | €1,490 | +€218 | +17.2% |
| Taxes | 450/3 | €372 | €81 | -€291 | -78.2% |
| Remuneration and social security | 454/9 | €900 | €1,409 | +€509 | +56.6% |
| Other amounts payable | 47/48 | €23,311 | €1,562 | -€21,749 | -93.3% |
| Accrued charges and deferred income | 492/3 | €73 | €56 | -€17 | -23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,253 | €8,251 | +€2,998 | +57.1% |
| Other operating charges | 640/8 | €1,720 | €855 | -€865 | -50.3% |
| Non-recurring operating charges | 66A | €300 | €0 | -€300 | -100% |
| Gross operating margin | 9900 | €50,910 | €11,396 | -€39,514 | -77.6% |
| Operating profit (loss) | 9901 | €43,638 | €2,290 | -€41,348 | -94.8% |
| Financial income | 75/76B | €2,223 | €1,439 | -€784 | -35.3% |
| Recurring financial income | 75 | €2,223 | €1,439 | -€784 | -35.3% |
| Financial charges | 65/66B | €1,162 | €1,922 | +€760 | +65.4% |
| Recurring financial charges | 65 | €1,162 | €1,922 | +€760 | +65.4% |
| Profit (loss) for the period before taxes | 9903 | €44,698 | €1,807 | -€42,892 | -96.0% |
| Income taxes | 67/77 | €15,277 | €1,312 | -€13,965 | -91.4% |
| Profit (loss) for the period | 9904 | €29,421 | €494 | -€28,927 | -98.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,421 | €494 | -€28,927 | -98.3% |
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 13 October 2026 via checked.be.