BELISY: 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.
BELISY
Largest movements
- Current investments -€466,925
down €466,925 (-100%), from €466,925 to €0
- Receivables within one year -€255,439
down €255,439 (-95.3%), from €268,138 to €12,699
of which Other amounts receivable: -€255,439
- Cash +€26,830
up €26,830 (+156%), from €17,235 to €44,065
mainly Net result for the year (+€920,383) and Current investments (+€466,925)
- Reserves -€713,192
down €713,192 (-28.1%), from €2.5m to €1.8m
- Tax, wage and social debts +€83,802
up €83,802 (+3,039%), from €2,757 to €86,560
- Other debts -€47,158
down €47,158 (-94.3%), from €50,000 to €2,842
- Financial income -€121,199
down €121,199 (-10.3%), from €1.2m to €1.0m
- Taxes +€87,053
up €87,053 (+1,570%), from €5,545 to €92,599
- Gross operating margin +€46,284
up €46,284, from -€35,980 to €10,304
- Depreciation +€7,860
up €7,860 (+35.1%), from €22,397 to €30,257
- Financial charges +€4,591
up €4,591 (+51.6%), from €8,895 to €13,486
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 | €2,617,417 | €1,937,570 | -€679,847 | -26.0% |
| Fixed assets | 21/28 | €1,862,485 | €1,878,057 | +€15,572 | +0.8% |
| Tangible fixed assets | 22/27 | €113,485 | €129,057 | +€15,572 | +13.7% |
| Plant, machinery and equipment | 23 | - | €1,876 | +€1,876 | |
| Furniture and vehicles | 24 | €113,485 | €127,182 | +€13,696 | +12.1% |
| Financial fixed assets | 28 | €1,749,000 | €1,749,000 | = | 0.0% |
| Current assets | 29/58 | €754,931 | €59,513 | -€695,419 | -92.1% |
| Amounts receivable within one year | 40/41 | €268,138 | €12,699 | -€255,439 | -95.3% |
| Trade receivables | 40 | €6,655 | €6,655 | = | 0.0% |
| Other amounts receivable | 41 | €261,483 | €6,044 | -€255,439 | -97.7% |
| Current investments | 50/53 | €466,925 | €0 | -€466,925 | -100% |
| Cash at bank and in hand | 54/58 | €17,235 | €44,065 | +€26,830 | +156% |
| Deferred charges and accrued income | 490/1 | €2,633 | €2,748 | +€115 | +4.4% |
| Total equity and liabilities | 10/49 | €2,617,417 | €1,937,570 | -€679,847 | -26.0% |
| Equity | 10/15 | €2,556,344 | €1,843,152 | -€713,192 | -27.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,537,744 | €1,824,552 | -€713,192 | -28.1% |
| Distributable reserves | 133 | €2,537,744 | €1,824,552 | -€713,192 | -28.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €61,073 | €94,418 | +€33,345 | +54.6% |
| Amounts payable within one year | 42/48 | €55,740 | €93,109 | +€37,369 | +67.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €2,983 | €3,708 | +€725 | +24.3% |
| Suppliers | 440/4 | €2,983 | €3,708 | +€725 | +24.3% |
| Taxes, remuneration and social security | 45 | €2,757 | €86,560 | +€83,802 | +3,039% |
| Taxes | 450/3 | €2,757 | €86,560 | +€83,802 | +3,039% |
| Other amounts payable | 47/48 | €50,000 | €2,842 | -€47,158 | -94.3% |
| Accrued charges and deferred income | 492/3 | €5,333 | €1,309 | -€4,024 | -75.5% |
| Non-recurring operating income | 76A | €33,500 | €0 | -€33,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,397 | €30,257 | +€7,860 | +35.1% |
| Other operating charges | 640/8 | €2,439 | €3,460 | +€1,021 | +41.8% |
| Gross operating margin | 9900 | -€35,980 | €10,304 | +€46,284 | |
| Operating profit (loss) | 9901 | -€60,816 | -€23,412 | +€37,404 | +61.5% |
| Financial income | 75/76B | €1,171,078 | €1,049,879 | -€121,199 | -10.3% |
| Recurring financial income | 75 | €1,171,078 | €1,049,879 | -€121,199 | -10.3% |
| Financial charges | 65/66B | €8,895 | €13,486 | +€4,591 | +51.6% |
| Recurring financial charges | 65 | €8,895 | €13,486 | +€4,591 | +51.6% |
| Profit (loss) for the period before taxes | 9903 | €1,101,367 | €1,012,981 | -€88,386 | -8.0% |
| Income taxes | 67/77 | €5,545 | €92,599 | +€87,053 | +1,570% |
| Profit (loss) for the period | 9904 | €1,095,822 | €920,383 | -€175,439 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,095,822 | €920,383 | -€175,439 | -16.0% |
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 19 October 2026 via checked.be.