BELIBERG: 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.
What changed
BELIBERG
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€65,215
2024 · €36,752+€28,463
Equity
€29.3m
2024 · €29.3m+€65,215
Cash
€199,305
2024 · €296,344-€97,039
Balance sheet total
€31.3m
2024 · €31.6m-€297,262
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Other debts -€420,000
down €420,000 (-18.7%), from €2.2m to €1.8m
Income statement
- Financial income +€147,909
up €147,909 (+78.1%), from €189,465 to €337,374
- Gross operating margin -€57,487
down €57,487 (-90.2%), from €63,713 to €6,227
- Taxes +€46,877
up €46,877 (+137%), from €34,215 to €81,093
- Depreciation +€25,045
up €25,045 (+31.6%), from €79,368 to €104,413
- Financial charges -€14,903
down €14,903 (-50.1%), from €29,727 to €14,824
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.
Result 2024
€36,752
Gross operating margin
-€57,487
Staff costs
-€2,731
Depreciation
-€25,045
Other operating charges
+€80
Other operating items
-€2,289
Financial income
+€147,909
Financial charges
+€14,903
Taxes
-€46,877
Result 2025
€65,215
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€154,205
Investment
+€57,166
Financing
€0
Cash 2024
€296,344
From operations (derived)
-€154,205
Net result for the year
+€65,215
Depreciation
+€104,413
Receivables within one year
+€38,594
Deferred charges and accrued income
+€50
Trade debts
+€1,798
Tax, wage and social debts
+€55,725
Other debts
-€420,000
Investment (derived)
+€57,166
Investment in fixed assets (net)
-€101,522
Current investments
+€158,688
Cash 2025
€199,305
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,556,067 | €31,258,805 | -€297,262 | -0.9% |
| Fixed assets | 21/28 | €28,537,685 | €28,534,794 | -€2,891 | 0.0% |
| Tangible fixed assets | 22/27 | €15,871,439 | €15,868,548 | -€2,891 | 0.0% |
| Land and buildings | 22 | €15,826,352 | €15,730,254 | -€96,097 | -0.6% |
| Plant, machinery and equipment | 23 | €33,834 | €70,411 | +€36,577 | +108% |
| Furniture and vehicles | 24 | €11,253 | €67,883 | +€56,630 | +503% |
| Financial fixed assets | 28 | €12,666,246 | €12,666,246 | = | 0.0% |
| Current assets | 29/58 | €3,018,382 | €2,724,011 | -€294,371 | -9.8% |
| Amounts receivable within one year | 40/41 | €63,076 | €24,482 | -€38,594 | -61.2% |
| Other amounts receivable | 41 | €63,076 | €24,482 | -€38,594 | -61.2% |
| Current investments | 50/53 | €2,658,182 | €2,499,494 | -€158,688 | -6.0% |
| Cash at bank and in hand | 54/58 | €296,344 | €199,305 | -€97,039 | -32.7% |
| Deferred charges and accrued income | 490/1 | €780 | €730 | -€50 | -6.4% |
| Total equity and liabilities | 10/49 | €31,556,067 | €31,258,805 | -€297,262 | -0.9% |
| Equity | 10/15 | €29,268,592 | €29,333,807 | +€65,215 | +0.2% |
| Contributions | 10/11 | €29,199,583 | €29,199,583 | = | 0.0% |
| Reserves | 13 | €16,430 | €16,430 | = | 0.0% |
| Distributable reserves | 133 | €16,430 | €16,430 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,943 | €116,158 | +€65,215 | +128% |
| Investment grants | 15 | €1,636 | €1,636 | = | 0.0% |
| Amounts payable | 17/49 | €2,287,476 | €1,924,999 | -€362,477 | -15.8% |
| Amounts payable within one year | 42/48 | €2,287,476 | €1,924,999 | -€362,477 | -15.8% |
| Trade debts | 44 | €5,438 | €7,236 | +€1,798 | +33.1% |
| Suppliers | 440/4 | €5,438 | €7,236 | +€1,798 | +33.1% |
| Taxes, remuneration and social security | 45 | €35,887 | €91,612 | +€55,725 | +155% |
| Taxes | 450/3 | €34,332 | €89,971 | +€55,639 | +162% |
| Remuneration and social security | 454/9 | €1,556 | €1,641 | +€85 | +5.5% |
| Other amounts payable | 47/48 | €2,246,150 | €1,826,150 | -€420,000 | -18.7% |
| Remuneration, social security and pensions | 62 | €63,348 | €66,079 | +€2,731 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,368 | €104,413 | +€25,045 | +31.6% |
| Other operating charges | 640/8 | €9,768 | €9,688 | -€80 | -0.8% |
| Non-recurring operating charges | 66A | - | €2,289 | +€2,289 | |
| Gross operating margin | 9900 | €63,713 | €6,227 | -€57,487 | -90.2% |
| Operating profit (loss) | 9901 | -€88,770 | -€176,242 | -€87,472 | -98.5% |
| Financial income | 75/76B | €189,465 | €337,374 | +€147,909 | +78.1% |
| Recurring financial income | 75 | €189,465 | €337,374 | +€147,909 | +78.1% |
| Financial charges | 65/66B | €29,727 | €14,824 | -€14,903 | -50.1% |
| Recurring financial charges | 65 | €29,727 | €14,824 | -€14,903 | -50.1% |
| Profit (loss) for the period before taxes | 9903 | €70,968 | €146,308 | +€75,340 | +106% |
| Income taxes | 67/77 | €34,215 | €81,093 | +€46,877 | +137% |
| Profit (loss) for the period | 9904 | €36,752 | €65,215 | +€28,463 | +77.4% |
| Profit (loss) for the period to be appropriated | 9905 | €36,752 | €65,215 | +€28,463 | +77.4% |
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 17 October 2026 via checked.be.