BELINSURE: 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.
BELINSURE
Largest movements
- Receivables after one year +€34,000
new in 2025: €34,000
- Cash -€16,592
down €16,592 (-43.6%), from €38,025 to €21,434
mainly Receivables after one year (-€34,000) and Trade debts (-€4,046)
- Receivables within one year -€5,734
down €5,734 (-9.7%), from €59,009 to €53,276
of which Other amounts receivable: -€4,954
- Reserves +€20,000
up €20,000 (+66.7%), from €30,000 to €50,000
- Trade debts -€4,046
down €4,046 (-34.6%), from €11,702 to €7,656
- Tax, wage and social debts -€3,224
down €3,224 (-24.7%), from €13,049 to €9,825
of which Taxes: -€2,783
- Other debts -€2,834
down €2,834 (-51.0%), from €5,554 to €2,721
- Profit (loss) carried forward +€2,782
up €2,782 (+14.1%), from €19,706 to €22,488
- Turnover -€9,800
down €9,800 (-12.0%), from €81,714 to €71,914
- Purchases and services -€5,772
down €5,772 (-14.7%), from €39,129 to €33,358
- Write-downs -€5,270
no longer reported in 2025 (was €5,270)
- Staff costs +€3,467
up €3,467 (+76.1%), from €4,553 to €8,019
- Taxes +€2,903
up €2,903 (+32.2%), from €9,012 to €11,915
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 | €98,611 | €111,289 | +€12,678 | +12.9% |
| Fixed assets | 21/28 | €1,562 | €1,590 | +€28 | +1.8% |
| Tangible fixed assets | 22/27 | €1,562 | €1,590 | +€28 | +1.8% |
| Plant, machinery and equipment | 23 | €1,562 | €1,162 | -€400 | -25.6% |
| Furniture and vehicles | 24 | - | €428 | +€428 | |
| Current assets | 29/58 | €97,049 | €109,698 | +€12,650 | +13.0% |
| Amounts receivable after more than one year | 29 | - | €34,000 | +€34,000 | |
| Other amounts receivable | 291 | - | €34,000 | +€34,000 | |
| Amounts receivable within one year | 40/41 | €59,009 | €53,276 | -€5,734 | -9.7% |
| Trade receivables | 40 | €50,760 | €49,981 | -€779 | -1.5% |
| Other amounts receivable | 41 | €8,249 | €3,295 | -€4,954 | -60.1% |
| Cash at bank and in hand | 54/58 | €38,025 | €21,434 | -€16,592 | -43.6% |
| Deferred charges and accrued income | 490/1 | €14 | €989 | +€975 | +6,809% |
| Total equity and liabilities | 10/49 | €98,611 | €111,289 | +€12,678 | +12.9% |
| Equity | 10/15 | €68,306 | €91,088 | +€22,782 | +33.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €30,000 | €50,000 | +€20,000 | +66.7% |
| Distributable reserves | 133 | €30,000 | €50,000 | +€20,000 | +66.7% |
| Profit (loss) carried forward | 14 | €19,706 | €22,488 | +€2,782 | +14.1% |
| Amounts payable | 17/49 | €30,305 | €20,201 | -€10,104 | -33.3% |
| Amounts payable within one year | 42/48 | €30,305 | €20,201 | -€10,104 | -33.3% |
| Trade debts | 44 | €11,702 | €7,656 | -€4,046 | -34.6% |
| Suppliers | 440/4 | €11,702 | €7,656 | -€4,046 | -34.6% |
| Taxes, remuneration and social security | 45 | €13,049 | €9,825 | -€3,224 | -24.7% |
| Taxes | 450/3 | €12,608 | €9,825 | -€2,783 | -22.1% |
| Remuneration and social security | 454/9 | €441 | - | -€441 | |
| Other amounts payable | 47/48 | €5,554 | €2,721 | -€2,834 | -51.0% |
| Turnover | 70 | €81,714 | €71,914 | -€9,800 | -12.0% |
| Non-recurring operating income | 76A | - | €4,415 | +€4,415 | |
| Goods, raw materials, services and sundry goods | 60/61 | €39,129 | €33,358 | -€5,772 | -14.7% |
| Remuneration, social security and pensions | 62 | €4,553 | €8,019 | +€3,467 | +76.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €504 | €520 | +€16 | +3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,270 | - | -€5,270 | |
| Other operating charges | 640/8 | €1,093 | €694 | -€400 | -36.6% |
| Non-recurring operating charges | 66A | €741 | €95 | -€646 | -87.2% |
| Gross operating margin | 9900 | €42,585 | €43,093 | +€508 | +1.2% |
| Operating profit (loss) | 9901 | €30,424 | €33,764 | +€3,340 | +11.0% |
| Financial income | 75/76B | €30 | €1,130 | +€1,100 | +3,647% |
| Recurring financial income | 75 | €30 | €1,130 | +€1,100 | +3,647% |
| Financial charges | 65/66B | €568 | €198 | -€370 | -65.1% |
| Recurring financial charges | 65 | €568 | €198 | -€370 | -65.1% |
| Profit (loss) for the period before taxes | 9903 | €29,886 | €34,697 | +€4,811 | +16.1% |
| Income taxes | 67/77 | €9,012 | €11,915 | +€2,903 | +32.2% |
| Profit (loss) for the period | 9904 | €20,874 | €22,782 | +€1,908 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,874 | €22,782 | +€1,908 | +9.1% |
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 14 October 2026 via checked.be.