BELISA IMMO: 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.
BELISA IMMO
Largest movements
- Tangible fixed assets -€51,799
down €51,799 (-3.6%), from €1.4m to €1.4m
- Short-term financial debts -€559,715
no longer reported in 2025 (was €559,715)
- Debts after one year +€457,128
new in 2025: €457,128
- Current portion of long-term debt +€58,071
new in 2025: €58,071
- Profit (loss) carried forward -€31,724
down €31,724 (-14.5%), from -€218,215 to -€249,939
- Gross operating margin -€25,415
down €25,415 (-28.1%), from €90,479 to €65,064
- Financial charges +€1,467
up €1,467 (+4.1%), from €35,685 to €37,152
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 | €1,468,323 | €1,405,552 | -€62,771 | -4.3% |
| Fixed assets | 21/28 | €1,442,891 | €1,391,092 | -€51,799 | -3.6% |
| Tangible fixed assets | 22/27 | €1,442,891 | €1,391,092 | -€51,799 | -3.6% |
| Land and buildings | 22 | €1,442,891 | €1,391,092 | -€51,799 | -3.6% |
| Current assets | 29/58 | €25,431 | €14,459 | -€10,972 | -43.1% |
| Amounts receivable within one year | 40/41 | - | €66 | +€66 | |
| Other amounts receivable | 41 | - | €66 | +€66 | |
| Cash at bank and in hand | 54/58 | €23,882 | €12,699 | -€11,183 | -46.8% |
| Deferred charges and accrued income | 490/1 | €1,550 | €1,694 | +€145 | +9.3% |
| Total equity and liabilities | 10/49 | €1,468,323 | €1,405,552 | -€62,771 | -4.3% |
| Equity | 10/15 | -€199,615 | -€231,339 | -€31,724 | -15.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€218,215 | -€249,939 | -€31,724 | -14.5% |
| Amounts payable | 17/49 | €1,667,938 | €1,636,891 | -€31,047 | -1.9% |
| Amounts payable after more than one year | 17 | - | €457,128 | +€457,128 | |
| Financial debts | 170/4 | - | €457,128 | +€457,128 | |
| Amounts payable within one year | 42/48 | €1,656,980 | €1,168,695 | -€488,285 | -29.5% |
| Current portion of amounts payable after more than one year | 42 | - | €58,071 | +€58,071 | |
| Financial debts | 43 | €559,715 | - | -€559,715 | |
| Credit institutions | 430/8 | €559,715 | - | -€559,715 | |
| Trade debts | 44 | €1,412 | €3,813 | +€2,401 | +170% |
| Suppliers | 440/4 | €1,412 | €3,813 | +€2,401 | +170% |
| Other amounts payable | 47/48 | €1,095,852 | €1,106,811 | +€10,959 | +1.0% |
| Accrued charges and deferred income | 492/3 | €10,959 | €11,068 | +€110 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,799 | €51,799 | = | 0.0% |
| Other operating charges | 640/8 | €8,566 | €7,837 | -€729 | -8.5% |
| Gross operating margin | 9900 | €90,479 | €65,064 | -€25,415 | -28.1% |
| Operating profit (loss) | 9901 | €30,114 | €5,428 | -€24,686 | -82.0% |
| Financial charges | 65/66B | €35,685 | €37,152 | +€1,467 | +4.1% |
| Recurring financial charges | 65 | €35,685 | €37,152 | +€1,467 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,571 | -€31,724 | -€26,153 | -469% |
| Profit (loss) for the period | 9904 | -€5,571 | -€31,724 | -€26,153 | -469% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,571 | -€31,724 | -€26,153 | -469% |
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 16 October 2026 via checked.be.