BELIEVER: 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.
BELIEVER
Largest movements
- Receivables within one year +€17,693
up €17,693 (+170.5%), from €10,375 to €28,068
of which Trade receivables: +€17,537
- Cash -€9,087
down €9,087 (-87.5%), from €10,380 to €1,293
mainly Receivables within one year (-€17,693) and Other debts (-€4,639)
- Tangible fixed assets -€1,163
down €1,163 (-26.7%), from €4,349 to €3,186
of which Land and buildings: -€778
- Deferred charges and accrued income +€420
up €420 (+23.8%), from €1,765 to €2,185
- Profit (loss) carried forward +€10,375
up €10,375, from €0 to €10,375
- Other debts -€4,639
down €4,639 (-53.4%), from €8,683 to €4,044
- Trade debts +€1,496
up €1,496 (+56.5%), from €2,650 to €4,146
- Short-term financial debts +€1,096
new in 2025: €1,096
- Tax, wage and social debts -€465
down €465 (-5.1%), from €9,036 to €8,572
- Gross operating margin +€5,258
up €5,258 (+41.8%), from €12,585 to €17,843
- Taxes +€1,104
up €1,104 (+34.5%), from €3,203 to €4,307
- Depreciation +€467
up €467 (+67.2%), from €696 to €1,163
- Financial charges +€285
up €285 (+23.1%), from €1,237 to €1,522
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 | €26,870 | €34,733 | +€7,863 | +29.3% |
| Fixed assets | 21/28 | €4,349 | €3,186 | -€1,163 | -26.7% |
| Tangible fixed assets | 22/27 | €4,349 | €3,186 | -€1,163 | -26.7% |
| Land and buildings | 22 | €3,264 | €2,487 | -€778 | -23.8% |
| Plant, machinery and equipment | 23 | €1,085 | €700 | -€385 | -35.5% |
| Current assets | 29/58 | €22,520 | €31,547 | +€9,026 | +40.1% |
| Amounts receivable within one year | 40/41 | €10,375 | €28,068 | +€17,693 | +170.5% |
| Trade receivables | 40 | €10,314 | €27,850 | +€17,537 | +170.0% |
| Other amounts receivable | 41 | €62 | €218 | +€156 | +253.6% |
| Cash at bank and in hand | 54/58 | €10,380 | €1,293 | -€9,087 | -87.5% |
| Deferred charges and accrued income | 490/1 | €1,765 | €2,185 | +€420 | +23.8% |
| Total equity and liabilities | 10/49 | €26,870 | €34,733 | +€7,863 | +29.3% |
| Equity | 10/15 | €6,500 | €16,875 | +€10,375 | +159.6% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €10,375 | +€10,375 | |
| Amounts payable | 17/49 | €20,370 | €17,858 | -€2,512 | -12.3% |
| Amounts payable within one year | 42/48 | €20,370 | €17,858 | -€2,512 | -12.3% |
| Financial debts | 43 | - | €1,096 | +€1,096 | |
| Other loans | 439 | - | €1,096 | +€1,096 | |
| Trade debts | 44 | €2,650 | €4,146 | +€1,496 | +56.5% |
| Suppliers | 440/4 | €2,650 | €4,146 | +€1,496 | +56.5% |
| Taxes, remuneration and social security | 45 | €9,036 | €8,572 | -€465 | -5.1% |
| Taxes | 450/3 | €9,036 | €8,572 | -€465 | -5.1% |
| Other amounts payable | 47/48 | €8,683 | €4,044 | -€4,639 | -53.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €696 | €1,163 | +€467 | +67.2% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €12,585 | €17,843 | +€5,258 | +41.8% |
| Operating profit (loss) | 9901 | €11,320 | €16,095 | +€4,774 | +42.2% |
| Financial income | 75/76B | €35 | €109 | +€74 | +214.3% |
| Recurring financial income | 75 | €35 | €109 | +€74 | +214.3% |
| Financial charges | 65/66B | €1,237 | €1,522 | +€285 | +23.1% |
| Recurring financial charges | 65 | €1,237 | €1,522 | +€285 | +23.1% |
| Profit (loss) for the period before taxes | 9903 | €10,118 | €14,682 | +€4,563 | +45.1% |
| Income taxes | 67/77 | €3,203 | €4,307 | +€1,104 | +34.5% |
| Profit (loss) for the period | 9904 | €6,915 | €10,375 | +€3,460 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,915 | €10,375 | +€3,460 | +50.0% |
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 12 October 2026 via checked.be.