BELIF: 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.
BELIF
Largest movements
- Cash -€76,766
down €76,766 (-75.8%), from €101,241 to €24,475
mainly Investment in fixed assets (net) (-€132,770) and Stocks and contracts (-€50,287)
- Tangible fixed assets +€54,800
up €54,800 (+8.7%), from €631,402 to €686,202
of which Furniture and vehicles: +€82,227
- Stocks and contracts +€50,287
new in 2025: €50,287
- Receivables within one year +€31,297
up €31,297 (+6.0%), from €519,891 to €551,189
of which Trade receivables: +€77,348
- Financial fixed assets +€13,500
new in 2025: €13,500
- Current portion of long-term debt +€28,899
new in 2025: €28,899
- Other debts +€24,750
up €24,750 (+64.7%), from €38,236 to €62,986
- Debts after one year -€24,470
down €24,470 (-4.0%), from €617,494 to €593,024
- Profit (loss) carried forward +€22,381
up €22,381 (+7.9%), from €282,923 to €305,304
- Trade debts +€18,754
up €18,754 (+7.8%), from €240,574 to €259,328
- Depreciation -€28,406
down €28,406 (-30.6%), from €92,876 to €64,470
- Financial charges +€17,371
up €17,371 (+88.6%), from €19,613 to €36,984
- Gross operating margin -€8,739
down €8,739 (-3.7%), from €235,532 to €226,793
- Staff costs -€3,088
down €3,088 (-4.1%), from €76,046 to €72,959
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 | €1,276,765 | €1,341,644 | +€64,879 | +5.1% |
| Fixed assets | 21/28 | €631,402 | €699,702 | +€68,300 | +10.8% |
| Tangible fixed assets | 22/27 | €631,402 | €686,202 | +€54,800 | +8.7% |
| Land and buildings | 22 | €566,162 | €551,557 | -€14,605 | -2.6% |
| Plant, machinery and equipment | 23 | €465 | - | -€465 | |
| Furniture and vehicles | 24 | €31,874 | €114,101 | +€82,227 | +258% |
| Other tangible fixed assets | 26 | €32,901 | €20,543 | -€12,357 | -37.6% |
| Financial fixed assets | 28 | - | €13,500 | +€13,500 | |
| Current assets | 29/58 | €645,363 | €641,942 | -€3,421 | -0.5% |
| Stocks and contracts in progress | 3 | - | €50,287 | +€50,287 | |
| Stocks | 30/36 | - | €50,287 | +€50,287 | |
| Amounts receivable within one year | 40/41 | €519,891 | €551,189 | +€31,297 | +6.0% |
| Trade receivables | 40 | €317,512 | €394,860 | +€77,348 | +24.4% |
| Other amounts receivable | 41 | €202,379 | €156,328 | -€46,051 | -22.8% |
| Cash at bank and in hand | 54/58 | €101,241 | €24,475 | -€76,766 | -75.8% |
| Deferred charges and accrued income | 490/1 | €24,232 | €15,992 | -€8,240 | -34.0% |
| Total equity and liabilities | 10/49 | €1,276,765 | €1,341,644 | +€64,879 | +5.1% |
| Equity | 10/15 | €290,983 | €313,364 | +€22,381 | +7.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €282,923 | €305,304 | +€22,381 | +7.9% |
| Amounts payable | 17/49 | €985,782 | €1,028,280 | +€42,498 | +4.3% |
| Amounts payable after more than one year | 17 | €617,494 | €593,024 | -€24,470 | -4.0% |
| Financial debts | 170/4 | €617,494 | €593,024 | -€24,470 | -4.0% |
| Amounts payable within one year | 42/48 | €368,288 | €435,183 | +€66,895 | +18.2% |
| Current portion of amounts payable after more than one year | 42 | - | €28,899 | +€28,899 | |
| Financial debts | 43 | €30,530 | €49,107 | +€18,577 | +60.8% |
| Credit institutions | 430/8 | €30,530 | €49,107 | +€18,577 | +60.8% |
| Trade debts | 44 | €240,574 | €259,328 | +€18,754 | +7.8% |
| Suppliers | 440/4 | €240,574 | €259,328 | +€18,754 | +7.8% |
| Advances received on contracts in progress | 46 | €12,500 | - | -€12,500 | |
| Taxes, remuneration and social security | 45 | €46,447 | €34,861 | -€11,586 | -24.9% |
| Taxes | 450/3 | €46,447 | €23,428 | -€23,019 | -49.6% |
| Remuneration and social security | 454/9 | - | €11,433 | +€11,433 | |
| Other amounts payable | 47/48 | €38,236 | €62,986 | +€24,750 | +64.7% |
| Accrued charges and deferred income | 492/3 | - | €73 | +€73 | |
| Remuneration, social security and pensions | 62 | €76,046 | €72,959 | -€3,088 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,876 | €64,470 | -€28,406 | -30.6% |
| Other operating charges | 640/8 | €20,377 | €19,932 | -€445 | -2.2% |
| Non-recurring operating charges | 66A | €1,658 | - | -€1,658 | |
| Gross operating margin | 9900 | €235,532 | €226,793 | -€8,739 | -3.7% |
| Operating profit (loss) | 9901 | €44,575 | €69,433 | +€24,858 | +55.8% |
| Financial income | 75/76B | €200 | €26 | -€174 | -86.9% |
| Recurring financial income | 75 | €200 | €26 | -€174 | -86.9% |
| Financial charges | 65/66B | €19,613 | €36,984 | +€17,371 | +88.6% |
| Recurring financial charges | 65 | €19,613 | €36,984 | +€17,371 | +88.6% |
| Profit (loss) for the period before taxes | 9903 | €25,163 | €32,475 | +€7,312 | +29.1% |
| Income taxes | 67/77 | €7,950 | €10,094 | +€2,144 | +27.0% |
| Profit (loss) for the period | 9904 | €17,213 | €22,381 | +€5,168 | +30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,213 | €22,381 | +€5,168 | +30.0% |
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 15 October 2026 via checked.be.