BELIËN IMMO: 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.
BELIËN IMMO
Largest movements
- Tangible fixed assets +€627,933
up €627,933 (+18.7%), from €3.4m to €4.0m
of which Land and buildings: +€630,415
- Cash +€154,732
up €154,732 (+1,990%), from €7,775 to €162,507
mainly Short-term financial debts (+€399,428) and Contributions, distributions and other (+€362,372)
- Receivables within one year +€127,518
up €127,518 (+333%), from €38,340 to €165,858
of which Trade receivables: +€115,000
- Short-term financial debts +€399,428
up €399,428 (+59.2%), from €675,000 to €1.1m
- Reserves +€361,582
up €361,582 (+15.2%), from €2.4m to €2.7m
of which Distributable reserves: +€356,061
- Contributions +€111,207
up €111,207 (+36.9%), from €301,661 to €412,868
- Trade debts +€61,504
up €61,504 (+606%), from €10,147 to €71,651
- Depreciation -€156,977
down €156,977 (-42.4%), from €370,282 to €213,305
- Gross operating margin +€41,676
up €41,676 (+12.1%), from €343,500 to €385,176
- Financial charges +€33,744
up €33,744 (+872%), from €3,868 to €37,612
- Taxes +€22,482
up €22,482, from €0 to €22,482
- Other operating charges -€19,564
down €19,564 (-93.5%), from €20,923 to €1,359
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 | €3,403,856 | €4,314,940 | +€911,084 | +26.8% |
| Fixed assets | 21/28 | €3,357,668 | €3,985,601 | +€627,933 | +18.7% |
| Tangible fixed assets | 22/27 | €3,357,668 | €3,985,601 | +€627,933 | +18.7% |
| Land and buildings | 22 | €3,053,458 | €3,683,873 | +€630,415 | +20.6% |
| Furniture and vehicles | 24 | €2,481 | €0 | -€2,481 | -100% |
| Other tangible fixed assets | 26 | €301,728 | €301,728 | = | 0.0% |
| Current assets | 29/58 | €46,188 | €329,339 | +€283,151 | +613% |
| Amounts receivable within one year | 40/41 | €38,340 | €165,858 | +€127,518 | +333% |
| Trade receivables | 40 | - | €115,000 | +€115,000 | |
| Other amounts receivable | 41 | €38,340 | €50,858 | +€12,518 | +32.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €7,775 | €162,507 | +€154,732 | +1,990% |
| Deferred charges and accrued income | 490/1 | €73 | €974 | +€902 | +1,235% |
| Total equity and liabilities | 10/49 | €3,403,856 | €4,314,940 | +€911,084 | +26.8% |
| Equity | 10/15 | €2,678,453 | €3,151,242 | +€472,789 | +17.7% |
| Contributions | 10/11 | €301,661 | €412,868 | +€111,207 | +36.9% |
| Capital | 10 | €301,661 | €412,868 | +€111,207 | +36.9% |
| Issued capital | 100 | €301,661 | €412,868 | +€111,207 | +36.9% |
| Reserves | 13 | €2,376,792 | €2,738,374 | +€361,582 | +15.2% |
| Non-distributable reserves | 130/1 | €28,290 | €33,811 | +€5,521 | +19.5% |
| Legal reserve | 130 | €28,290 | €33,811 | +€5,521 | +19.5% |
| Distributable reserves | 133 | €2,348,502 | €2,704,563 | +€356,061 | +15.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €725,403 | €1,163,698 | +€438,295 | +60.4% |
| Amounts payable within one year | 42/48 | €718,988 | €1,146,079 | +€427,091 | +59.4% |
| Financial debts | 43 | €675,000 | €1,074,428 | +€399,428 | +59.2% |
| Other loans | 439 | €675,000 | €1,074,428 | +€399,428 | +59.2% |
| Trade debts | 44 | €10,147 | €71,651 | +€61,504 | +606% |
| Suppliers | 440/4 | €10,147 | €71,651 | +€61,504 | +606% |
| Taxes, remuneration and social security | 45 | €33,841 | €0 | -€33,841 | -100% |
| Taxes | 450/3 | €33,841 | €0 | -€33,841 | -100% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €6,415 | €17,619 | +€11,204 | +175% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €370,282 | €213,305 | -€156,977 | -42.4% |
| Other operating charges | 640/8 | €20,923 | €1,359 | -€19,564 | -93.5% |
| Gross operating margin | 9900 | €343,500 | €385,176 | +€41,676 | +12.1% |
| Operating profit (loss) | 9901 | -€47,705 | €170,512 | +€218,217 | |
| Financial income | 75/76B | €8,602 | €0 | -€8,602 | -100% |
| Recurring financial income | 75 | €8,602 | €0 | -€8,602 | -100% |
| Financial charges | 65/66B | €3,868 | €37,612 | +€33,744 | +872% |
| Recurring financial charges | 65 | €3,868 | €37,612 | +€33,744 | +872% |
| Profit (loss) for the period before taxes | 9903 | -€42,971 | €132,900 | +€175,870 | |
| Income taxes | 67/77 | €0 | €22,482 | +€22,482 | |
| Profit (loss) for the period | 9904 | -€42,971 | €110,417 | +€153,388 | |
| Profit (loss) for the period to be appropriated | 9905 | -€42,971 | €110,417 | +€153,388 |
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 23 October 2026 via checked.be.