BELISTATE: 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.
BELISTATE
Largest movements
- Cash +€237,932
up €237,932 (+149%), from €159,816 to €397,748
mainly Other debts (+€158,072) and Net result for the year (+€84,265)
- Current investments +€50,000
up €50,000 (+100%), from €50,000 to €100,000
- Tangible fixed assets -€15,704
down €15,704 (-32.0%), from €49,095 to €33,391
of which Furniture and vehicles: -€11,910
- Deferred charges and accrued income -€8,559
down €8,559 (-92.7%), from €9,229 to €670
- Other debts +€158,072
up €158,072 (+128%), from €123,773 to €281,845
- Reserves +€84,265
up €84,265 (+66.3%), from €127,072 to €211,337
- Tax, wage and social debts +€17,456
up €17,456 (+86.5%), from €20,181 to €37,637
of which Taxes: +€28,023
- Staff costs -€30,476
down €30,476 (-35.7%), from €85,413 to €54,937
- Gross operating margin +€27,800
up €27,800 (+17.5%), from €159,005 to €186,805
- Taxes +€6,931
up €6,931 (+31.4%), from €22,060 to €28,991
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 | €324,481 | €589,780 | +€265,299 | +81.8% |
| Fixed assets | 21/28 | €49,095 | €33,391 | -€15,704 | -32.0% |
| Tangible fixed assets | 22/27 | €49,095 | €33,391 | -€15,704 | -32.0% |
| Plant, machinery and equipment | 23 | €7,055 | €5,055 | -€2,000 | -28.3% |
| Furniture and vehicles | 24 | €24,397 | €12,487 | -€11,910 | -48.8% |
| Leasing and similar rights | 25 | €17,643 | €15,849 | -€1,794 | -10.2% |
| Current assets | 29/58 | €275,386 | €556,389 | +€281,003 | +102% |
| Amounts receivable within one year | 40/41 | €56,341 | €57,971 | +€1,630 | +2.9% |
| Trade receivables | 40 | €47,197 | €22,971 | -€24,226 | -51.3% |
| Other amounts receivable | 41 | €9,144 | €35,000 | +€25,856 | +283% |
| Current investments | 50/53 | €50,000 | €100,000 | +€50,000 | +100% |
| Cash at bank and in hand | 54/58 | €159,816 | €397,748 | +€237,932 | +149% |
| Deferred charges and accrued income | 490/1 | €9,229 | €670 | -€8,559 | -92.7% |
| Total equity and liabilities | 10/49 | €324,481 | €589,780 | +€265,299 | +81.8% |
| Equity | 10/15 | €147,531 | €231,796 | +€84,265 | +57.1% |
| Contributions | 10/11 | €20,459 | €20,459 | = | 0.0% |
| Reserves | 13 | €127,072 | €211,337 | +€84,265 | +66.3% |
| Distributable reserves | 133 | €127,072 | €211,337 | +€84,265 | +66.3% |
| Amounts payable | 17/49 | €176,950 | €357,984 | +€181,034 | +102% |
| Amounts payable within one year | 42/48 | €176,950 | €357,984 | +€181,034 | +102% |
| Financial debts | 43 | - | €5,509 | +€5,509 | |
| Other loans | 439 | - | €5,509 | +€5,509 | |
| Trade debts | 44 | €32,996 | €32,993 | -€3 | 0.0% |
| Suppliers | 440/4 | €32,996 | €32,993 | -€3 | 0.0% |
| Taxes, remuneration and social security | 45 | €20,181 | €37,637 | +€17,456 | +86.5% |
| Taxes | 450/3 | €9,614 | €37,637 | +€28,023 | +291% |
| Remuneration and social security | 454/9 | €10,567 | - | -€10,567 | |
| Other amounts payable | 47/48 | €123,773 | €281,845 | +€158,072 | +128% |
| Remuneration, social security and pensions | 62 | €85,413 | €54,937 | -€30,476 | -35.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,953 | €15,704 | +€1,751 | +12.5% |
| Other operating charges | 640/8 | €3,359 | €2,841 | -€518 | -15.4% |
| Gross operating margin | 9900 | €159,005 | €186,805 | +€27,800 | +17.5% |
| Operating profit (loss) | 9901 | €56,280 | €113,323 | +€57,043 | +101% |
| Financial income | 75/76B | €991 | - | -€991 | |
| Recurring financial income | 75 | €991 | - | -€991 | |
| Financial charges | 65/66B | - | €67 | +€67 | |
| Recurring financial charges | 65 | - | €67 | +€67 | |
| Profit (loss) for the period before taxes | 9903 | €57,271 | €113,256 | +€55,985 | +97.8% |
| Income taxes | 67/77 | €22,060 | €28,991 | +€6,931 | +31.4% |
| Profit (loss) for the period | 9904 | €35,211 | €84,265 | +€49,054 | +139% |
| Profit (loss) for the period to be appropriated | 9905 | €35,211 | €84,265 | +€49,054 | +139% |
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 27 October 2026 via checked.be.