BELILIEGE: 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.
BELILIEGE
Largest movements
- Receivables within one year -€208,718
down €208,718 (-48.8%), from €427,480 to €218,763
of which Trade receivables: -€159,386
- Cash -€17,044
down €17,044 (-54.5%), from €31,248 to €14,204
mainly Trade debts (-€135,309) and Other debts (-€59,000)
- Trade debts -€135,309
down €135,309 (-99.9%), from €135,384 to €75
- Other debts -€59,000
down €59,000 (-5.6%), from €1.1m to €999,000
- Profit (loss) carried forward -€32,363
down €32,363 (-3.7%), from -€882,795 to -€915,158
- Gross operating margin -€166,093
down €166,093, from €140,116 to -€25,977
- Staff costs -€42,289
down €42,289 (-99.3%), from €42,588 to €299
- Financial income -€14,653
down €14,653 (-97.4%), from €15,039 to €386
- Other operating charges -€7,638
down €7,638 (-64.0%), from €11,928 to €4,291
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 | €460,996 | €233,916 | -€227,079 | -49.3% |
| Fixed assets | 21/28 | €2,267 | €950 | -€1,317 | -58.1% |
| Intangible fixed assets | 21 | €266 | - | -€266 | |
| Tangible fixed assets | 22/27 | €239 | - | -€239 | |
| Plant, machinery and equipment | 23 | €239 | - | -€239 | |
| Financial fixed assets | 28 | €1,763 | €950 | -€813 | -46.1% |
| Current assets | 29/58 | €458,728 | €232,966 | -€225,762 | -49.2% |
| Amounts receivable within one year | 40/41 | €427,480 | €218,763 | -€208,718 | -48.8% |
| Trade receivables | 40 | €177,480 | €18,094 | -€159,386 | -89.8% |
| Other amounts receivable | 41 | €250,000 | €200,669 | -€49,331 | -19.7% |
| Cash at bank and in hand | 54/58 | €31,248 | €14,204 | -€17,044 | -54.5% |
| Total equity and liabilities | 10/49 | €460,996 | €233,916 | -€227,079 | -49.3% |
| Equity | 10/15 | -€732,795 | -€765,158 | -€32,363 | -4.4% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€882,795 | -€915,158 | -€32,363 | -3.7% |
| Amounts payable | 17/49 | €1,193,790 | €999,074 | -€194,716 | -16.3% |
| Amounts payable within one year | 42/48 | €1,193,790 | €999,074 | -€194,716 | -16.3% |
| Trade debts | 44 | €135,384 | €75 | -€135,309 | -99.9% |
| Suppliers | 440/4 | €135,384 | €75 | -€135,309 | -99.9% |
| Taxes, remuneration and social security | 45 | €407 | - | -€407 | |
| Taxes | 450/3 | €407 | - | -€407 | |
| Other amounts payable | 47/48 | €1,058,000 | €999,000 | -€59,000 | -5.6% |
| Non-recurring operating income | 76A | €17,258 | €10,929 | -€6,328 | -36.7% |
| Remuneration, social security and pensions | 62 | €42,588 | €299 | -€42,289 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,686 | €546 | -€1,141 | -67.6% |
| Other operating charges | 640/8 | €11,928 | €4,291 | -€7,638 | -64.0% |
| Gross operating margin | 9900 | €140,116 | -€25,977 | -€166,093 | |
| Operating profit (loss) | 9901 | €83,914 | -€31,112 | -€115,026 | |
| Financial income | 75/76B | €15,039 | €386 | -€14,653 | -97.4% |
| Recurring financial income | 75 | €15,039 | €386 | -€14,653 | -97.4% |
| Financial charges | 65/66B | €1,284 | €1,637 | +€354 | +27.6% |
| Recurring financial charges | 65 | €1,284 | €1,637 | +€354 | +27.6% |
| Profit (loss) for the period before taxes | 9903 | €97,669 | -€32,363 | -€130,032 | |
| Income taxes | 67/77 | €38 | - | -€38 | |
| Profit (loss) for the period | 9904 | €97,631 | -€32,363 | -€129,994 | |
| Profit (loss) for the period to be appropriated | 9905 | €97,631 | -€32,363 | -€129,994 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.