BELION: 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.
BELION
Largest movements
- Current investments +€94,732
up €94,732 (+90.1%), from €105,096 to €199,827
- Cash -€84,237
down €84,237 (-69.7%), from €120,868 to €36,630
mainly Current investments (-€94,732) and Investment in fixed assets (net) (-€32,988)
- Tangible fixed assets +€24,922
up €24,922 (+164.8%), from €15,121 to €40,043
of which Furniture and vehicles: +€24,332
- Receivables within one year +€8,317
up €8,317 (+12.6%), from €65,792 to €74,109
of which Other amounts receivable: +€4,626
- Reserves +€20,834
up €20,834 (+6.9%), from €303,160 to €323,994
- Trade debts +€14,718
new in 2025: €14,718
- Profit (loss) carried forward +€7,880
no longer reported in 2025 (was -€7,880)
- Gross operating margin +€45,857
up €45,857 (+4003.1%), from €1,146 to €47,002
- Taxes +€15,177
up €15,177 (+4761.0%), from €319 to €15,495
- Financial income +€7,274
new in 2025: €7,274
- Depreciation +€3,028
up €3,028 (+60.1%), from €5,039 to €8,067
- Other operating charges -€1,705
down €1,705 (-73.2%), from €2,330 to €625
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 | €306,876 | €353,468 | +€46,592 | +15.2% |
| Fixed assets | 21/28 | €15,121 | €40,043 | +€24,922 | +164.8% |
| Tangible fixed assets | 22/27 | €15,121 | €40,043 | +€24,922 | +164.8% |
| Land and buildings | 22 | €5,186 | €8,985 | +€3,799 | +73.3% |
| Plant, machinery and equipment | 23 | €9,192 | €5,982 | -€3,210 | -34.9% |
| Furniture and vehicles | 24 | €743 | €25,076 | +€24,332 | +3274.0% |
| Current assets | 29/58 | €291,755 | €313,426 | +€21,671 | +7.4% |
| Amounts receivable within one year | 40/41 | €65,792 | €74,109 | +€8,317 | +12.6% |
| Trade receivables | 40 | €65,792 | €69,483 | +€3,691 | +5.6% |
| Other amounts receivable | 41 | - | €4,626 | +€4,626 | |
| Current investments | 50/53 | €105,096 | €199,827 | +€94,732 | +90.1% |
| Cash at bank and in hand | 54/58 | €120,868 | €36,630 | -€84,237 | -69.7% |
| Deferred charges and accrued income | 490/1 | - | €2,859 | +€2,859 | |
| Total equity and liabilities | 10/49 | €306,876 | €353,468 | +€46,592 | +15.2% |
| Equity | 10/15 | €301,580 | €330,294 | +€28,714 | +9.5% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €303,160 | €323,994 | +€20,834 | +6.9% |
| Distributable reserves | 133 | €303,160 | €323,994 | +€20,834 | +6.9% |
| Profit (loss) carried forward | 14 | -€7,880 | - | +€7,880 | |
| Amounts payable | 17/49 | €5,296 | €23,174 | +€17,878 | +337.6% |
| Amounts payable within one year | 42/48 | €5,296 | €23,174 | +€17,878 | +337.6% |
| Trade debts | 44 | - | €14,718 | +€14,718 | |
| Suppliers | 440/4 | - | €14,718 | +€14,718 | |
| Taxes, remuneration and social security | 45 | €625 | €445 | -€180 | -28.8% |
| Taxes | 450/3 | €625 | €445 | -€180 | -28.8% |
| Other amounts payable | 47/48 | €4,672 | €8,012 | +€3,340 | +71.5% |
| Remuneration, social security and pensions | 62 | - | €889 | +€889 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,039 | €8,067 | +€3,028 | +60.1% |
| Other operating charges | 640/8 | €2,330 | €625 | -€1,705 | -73.2% |
| Gross operating margin | 9900 | €1,146 | €47,002 | +€45,857 | +4003.1% |
| Operating profit (loss) | 9901 | -€6,224 | €37,422 | +€43,646 | |
| Financial income | 75/76B | - | €7,274 | +€7,274 | |
| Recurring financial income | 75 | - | €7,274 | +€7,274 | |
| Financial charges | 65/66B | €541 | €486 | -€55 | -10.1% |
| Recurring financial charges | 65 | €541 | €486 | -€55 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,765 | €44,210 | +€50,975 | |
| Income taxes | 67/77 | €319 | €15,495 | +€15,177 | +4761.0% |
| Profit (loss) for the period | 9904 | -€7,084 | €28,714 | +€35,798 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,084 | €28,714 | +€35,798 |
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 1 October 2026 via checked.be.