BELIMAS: 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.
BELIMAS
Largest movements
- Cash -€317,261
down €317,261 (-41.0%), from €774,608 to €457,347
mainly Contributions, distributions and other (-€140,000) and Other debts (-€111,503)
- Tangible fixed assets +€15,049
up €15,049 (+486.8%), from €3,092 to €18,141
of which Furniture and vehicles: +€15,882
- Reserves -€140,000
down €140,000 (-26.2%), from €535,157 to €395,157
of which Distributable reserves: -€140,000
- Other debts -€111,503
down €111,503 (-99.3%), from €112,263 to €760
- Profit (loss) carried forward -€32,574
down €32,574 (-94.8%), from €34,359 to €1,785
- Tax, wage and social debts -€16,044
down €16,044 (-68.6%), from €23,373 to €7,330
of which Remuneration and social security: -€15,000
- Gross operating margin -€84,451
down €84,451, from €55,906 to -€28,546
- Taxes -€8,074
down €8,074 (-95.8%), from €8,432 to €358
- Depreciation +€1,276
up €1,276 (+76.1%), from €1,675 to €2,951
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 | €778,253 | €476,762 | -€301,491 | -38.7% |
| Fixed assets | 21/28 | €3,092 | €18,141 | +€15,049 | +486.8% |
| Tangible fixed assets | 22/27 | €3,092 | €18,141 | +€15,049 | +486.8% |
| Plant, machinery and equipment | 23 | €1,991 | €1,158 | -€833 | -41.9% |
| Furniture and vehicles | 24 | €1,101 | €16,983 | +€15,882 | +1442.8% |
| Current assets | 29/58 | €775,161 | €458,621 | -€316,540 | -40.8% |
| Amounts receivable within one year | 40/41 | - | €505 | +€505 | |
| Trade receivables | 40 | - | €505 | +€505 | |
| Current investments | 50/53 | €56 | - | -€56 | |
| Cash at bank and in hand | 54/58 | €774,608 | €457,347 | -€317,261 | -41.0% |
| Deferred charges and accrued income | 490/1 | €498 | €769 | +€272 | +54.6% |
| Total equity and liabilities | 10/49 | €778,253 | €476,762 | -€301,491 | -38.7% |
| Equity | 10/15 | €575,716 | €403,142 | -€172,574 | -30.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €535,157 | €395,157 | -€140,000 | -26.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €533,297 | €393,297 | -€140,000 | -26.3% |
| Profit (loss) carried forward | 14 | €34,359 | €1,785 | -€32,574 | -94.8% |
| Amounts payable | 17/49 | €202,537 | €73,620 | -€128,917 | -63.7% |
| Amounts payable within one year | 42/48 | €137,007 | €8,089 | -€128,917 | -94.1% |
| Trade debts | 44 | €1,371 | - | -€1,371 | |
| Suppliers | 440/4 | €1,371 | - | -€1,371 | |
| Taxes, remuneration and social security | 45 | €23,373 | €7,330 | -€16,044 | -68.6% |
| Taxes | 450/3 | €8,373 | €7,330 | -€1,044 | -12.5% |
| Remuneration and social security | 454/9 | €15,000 | - | -€15,000 | |
| Other amounts payable | 47/48 | €112,263 | €760 | -€111,503 | -99.3% |
| Accrued charges and deferred income | 492/3 | €65,530 | €65,530 | = | 0.0% |
| Non-recurring operating income | 76A | €2,500 | - | -€2,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,675 | €2,951 | +€1,276 | +76.1% |
| Other operating charges | 640/8 | €1,037 | €528 | -€509 | -49.1% |
| Gross operating margin | 9900 | €55,906 | -€28,546 | -€84,451 | |
| Operating profit (loss) | 9901 | €53,193 | -€32,025 | -€85,218 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €284 | €192 | -€92 | -32.5% |
| Recurring financial charges | 65 | €284 | €192 | -€92 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €52,909 | -€32,217 | -€85,125 | |
| Income taxes | 67/77 | €8,432 | €358 | -€8,074 | -95.8% |
| Profit (loss) for the period | 9904 | €44,477 | -€32,574 | -€77,051 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,477 | -€32,574 | -€77,051 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.