BELIGNUM: what changed
Two fiscal 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
BELIGNUM
NACE 46.832, Wholesale of timber
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2.9m
2024 · -€126,032-€2.8m
Equity
€3.2m
2024 · €6.1m-€2.9m
Cash
€351,131
2024 · €489,536-€138,404
Balance sheet total
€13.3m
2024 · €16.7m-€3.4m
Largest movements
Assets
- Receivables within one year -€2.8m
down €2.8m (-49.6%), from €5.6m to €2.8m
of which Trade receivables: -€2.8m
- Stocks and contracts -€278,704
down €278,704 (-2.8%), from €10.0m to €9.7m
- Tangible fixed assets -€172,255
down €172,255 (-33.9%), from €508,653 to €336,397
of which Plant, machinery and equipment: -€101,202
Equity and liabilities
- Profit (loss) carried forward -€2.9m
down €2.9m (-49.8%), from €5.9m to €3.0m
- Debts after one year -€614,214
down €614,214 (-35.2%), from €1.7m to €1.1m
- Short-term financial debts +€225,000
up €225,000 (+3.5%), from €6.4m to €6.6m
Income statement
- Turnover -€700,072
down €700,072 (-4.7%), from €14.7m to €14.0m
- Goods and materials -€661,515
down €661,515 (-5.9%), from €11.3m to €10.6m
of which Change in stocks: decrease (increase): -€593,760
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
-€126,032
Turnover
-€700,072
Other operating income
+€33,289
Goods and materials
+€661,515
Services and other goods
-€25,590
Staff costs
+€35,080
Depreciation
+€11,841
Write-downs
+€59,426
Other operating charges
+€408
Other operating items
-€3.0m
Financial income
-€5,140
Financial charges
+€93,948
Taxes
-€1,009
Result 2025
-€2.9m
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.
From operations
+€317,377
Investment
-€50,737
Financing
-€405,044
Cash 2024
€489,536
From operations (derived)
+€317,377
Net result for the year
-€2.9m
Depreciation
+€209,543
Stocks and contracts
+€278,704
Receivables within one year
+€2.8m
Smaller working-capital items
-€2,127
Trade debts
-€12,304
Tax, wage and social debts
+€7,518
Investment (derived)
-€50,737
Investment in fixed assets (net)
-€50,737
Financing
-€405,044
Debts after one year
-€614,214
Current portion of long-term debt
-€15,090
Short-term financial debts
+€225,000
Contributions, distributions and other
-€740
Cash 2025
€351,131
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,651,130 | €13,294,130 | -€3.4m | -20.2% |
| Fixed assets | 21/28 | €510,182 | €351,376 | -€158,805 | -31.1% |
| Intangible fixed assets | 21 | €1,529 | €14,979 | +€13,450 | +879.6% |
| Tangible fixed assets | 22/27 | €508,653 | €336,397 | -€172,255 | -33.9% |
| Plant, machinery and equipment | 23 | €290,631 | €189,429 | -€101,202 | -34.8% |
| Furniture and vehicles | 24 | €33,750 | €51,256 | +€17,506 | +51.9% |
| Leasing and similar rights | 25 | €172,811 | €89,438 | -€83,373 | -48.2% |
| Other tangible fixed assets | 26 | €11,461 | €6,274 | -€5,187 | -45.3% |
| Current assets | 29/58 | €16,140,948 | €12,942,754 | -€3.2m | -19.8% |
| Stocks and contracts in progress | 3 | €9,999,438 | €9,720,734 | -€278,704 | -2.8% |
| Stocks | 30/36 | €9,999,438 | €9,720,734 | -€278,704 | -2.8% |
| Goods purchased for resale | 34 | €9,999,438 | €9,720,734 | -€278,704 | -2.8% |
| Amounts receivable within one year | 40/41 | €5,603,334 | €2,824,168 | -€2.8m | -49.6% |
| Trade receivables | 40 | €4,700,809 | €1,939,391 | -€2.8m | -58.7% |
| Other amounts receivable | 41 | €902,525 | €884,778 | -€17,748 | -2.0% |
| Cash at bank and in hand | 54/58 | €489,536 | €351,131 | -€138,404 | -28.3% |
| Deferred charges and accrued income | 490/1 | €48,640 | €46,721 | -€1,920 | -3.9% |
| Total equity and liabilities | 10/49 | €16,651,130 | €13,294,130 | -€3.4m | -20.2% |
| Equity | 10/15 | €6,105,916 | €3,162,053 | -€2.9m | -48.2% |
| Contributions | 10/11 | €120,145 | €120,145 | = | 0.0% |
| Capital | 10 | €120,145 | €120,145 | = | 0.0% |
| Issued capital | 100 | €120,145 | €120,145 | = | 0.0% |
| Reserves | 13 | €67,466 | €67,466 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,014 | €12,014 | = | 0.0% |
| Legal reserve | 130 | €12,014 | €12,014 | = | 0.0% |
| Tax-exempt reserves | 132 | €55,452 | €55,452 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,907,296 | €2,964,173 | -€2.9m | -49.8% |
| Investment grants | 15 | €11,009 | €10,268 | -€740 | -6.7% |
| Amounts payable | 17/49 | €10,545,214 | €10,132,078 | -€413,136 | -3.9% |
| Amounts payable after more than one year | 17 | €1,745,163 | €1,130,949 | -€614,214 | -35.2% |
| Financial debts | 170/4 | €1,745,163 | €1,130,949 | -€614,214 | -35.2% |
| Leasing and similar obligations | 172 | €78,839 | €0 | -€78,839 | -100.0% |
| Credit institutions | 173 | €1,166,324 | €630,949 | -€535,375 | -45.9% |
| Other loans | 174 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €8,775,622 | €8,980,747 | +€205,125 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €629,303 | €614,214 | -€15,090 | -2.4% |
| Financial debts | 43 | €6,400,000 | €6,625,000 | +€225,000 | +3.5% |
| Credit institutions | 430/8 | €6,400,000 | €6,625,000 | +€225,000 | +3.5% |
| Trade debts | 44 | €714,588 | €702,284 | -€12,304 | -1.7% |
| Suppliers | 440/4 | €714,588 | €702,284 | -€12,304 | -1.7% |
| Taxes, remuneration and social security | 45 | €1,031,731 | €1,039,250 | +€7,518 | +0.7% |
| Taxes | 450/3 | €960,318 | €970,919 | +€10,601 | +1.1% |
| Remuneration and social security | 454/9 | €71,413 | €68,330 | -€3,083 | -4.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €24,428 | €20,381 | -€4,047 | -16.6% |
| Operating income | 70/76A | €14,779,457 | €14,112,675 | -€666,782 | -4.5% |
| Turnover | 70 | €14,746,642 | €14,046,571 | -€700,072 | -4.7% |
| Other operating income | 74 | €32,815 | €66,104 | +€33,289 | +101.4% |
| Operating charges | 60/66A | €14,382,286 | €16,620,394 | +€2.2m | +15.6% |
| Goods for resale, raw materials and consumables | 60 | €11,305,604 | €10,644,089 | -€661,515 | -5.9% |
| Purchases | 600/8 | €10,433,140 | €10,365,385 | -€67,755 | -0.6% |
| Change in stocks: decrease (increase) | 609 | €872,464 | €278,704 | -€593,760 | -68.1% |
| Services and other goods | 61 | €1,883,790 | €1,909,380 | +€25,590 | +1.4% |
| Remuneration, social security and pensions | 62 | €960,152 | €925,073 | -€35,080 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €221,384 | €209,543 | -€11,841 | -5.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€392 | -€59,818 | -€59,426 | -15155.5% |
| Other operating charges | 640/8 | €11,748 | €11,340 | -€408 | -3.5% |
| Non-recurring operating charges | 66A | €0 | €2,980,787 | +€3.0m | |
| Operating profit (loss) | 9901 | €397,171 | -€2,507,720 | -€2.9m | |
| Financial income | 75/76B | €21,798 | €16,658 | -€5,140 | -23.6% |
| Recurring financial income | 75 | €21,798 | €16,658 | -€5,140 | -23.6% |
| Income from current assets | 751 | €1,109 | €0 | -€1,109 | -100.0% |
| Other financial income | 752/9 | €20,688 | €16,658 | -€4,031 | -19.5% |
| Financial charges | 65/66B | €545,000 | €451,052 | -€93,948 | -17.2% |
| Recurring financial charges | 65 | €545,000 | €451,052 | -€93,948 | -17.2% |
| Debt charges | 650 | €443,379 | €328,162 | -€115,217 | -26.0% |
| Other financial charges | 652/9 | €101,621 | €122,890 | +€21,268 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | -€126,032 | -€2,942,114 | -€2.8m | -2234.4% |
| Income taxes | 67/77 | €0 | €1,009 | +€1,009 | |
| Taxes | 670/3 | €884,778 | €1,009 | -€883,769 | -99.9% |
| Tax adjustments and reversals of tax provisions | 77 | €884,778 | €0 | -€884,778 | -100.0% |
| Profit (loss) for the period | 9904 | -€126,032 | -€2,943,123 | -€2.8m | -2235.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€126,032 | -€2,943,123 | -€2.8m | -2235.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.