BELIV: 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.
BELIV
Largest movements
- Receivables within one year +€36,215
up €36,215 (+151.1%), from €23,974 to €60,189
of which Other amounts receivable: +€31,563
- Tangible fixed assets -€12,893
down €12,893 (-2.9%), from €444,589 to €431,696
of which Leasing and similar rights: -€38,220
- Deferred charges and accrued income -€8,743
down €8,743 (-63.3%), from €13,820 to €5,078
- Reserves +€29,403
up €29,403 (+6.3%), from €464,765 to €494,168
of which Distributable reserves: +€29,403
- Debts after one year -€18,363
down €18,363 (-9.2%), from €199,060 to €180,697
- Financial income +€15,681
up €15,681 (+69.1%), from €22,700 to €38,381
of which Financial income: +€15,681
- Gross operating margin +€12,964
up €12,964 (+19.0%), from €68,316 to €81,281
- Taxes +€8,340
up €8,340 (+219.0%), from €3,808 to €12,149
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 | €722,548 | €734,239 | +€11,692 | +1.6% |
| Fixed assets | 21/28 | €512,494 | €499,601 | -€12,893 | -2.5% |
| Tangible fixed assets | 22/27 | €444,589 | €431,696 | -€12,893 | -2.9% |
| Land and buildings | 22 | €350,294 | €346,670 | -€3,624 | -1.0% |
| Plant, machinery and equipment | 23 | €38,302 | €33,661 | -€4,641 | -12.1% |
| Furniture and vehicles | 24 | €17,773 | €51,365 | +€33,592 | +189.0% |
| Leasing and similar rights | 25 | €38,220 | €0 | -€38,220 | -100.0% |
| Financial fixed assets | 28 | €67,905 | €67,905 | = | 0.0% |
| Current assets | 29/58 | €210,054 | €234,639 | +€24,585 | +11.7% |
| Amounts receivable after more than one year | 29 | €60,000 | €60,000 | = | 0.0% |
| Other amounts receivable | 291 | €60,000 | €60,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €23,974 | €60,189 | +€36,215 | +151.1% |
| Trade receivables | 40 | €9,361 | €14,013 | +€4,652 | +49.7% |
| Other amounts receivable | 41 | €14,613 | €46,176 | +€31,563 | +216.0% |
| Cash at bank and in hand | 54/58 | €112,259 | €109,372 | -€2,887 | -2.6% |
| Deferred charges and accrued income | 490/1 | €13,820 | €5,078 | -€8,743 | -63.3% |
| Total equity and liabilities | 10/49 | €722,548 | €734,239 | +€11,692 | +1.6% |
| Equity | 10/15 | €464,765 | €494,168 | +€29,403 | +6.3% |
| Reserves | 13 | €464,765 | €494,168 | +€29,403 | +6.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €464,765 | €494,168 | +€29,403 | +6.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €257,783 | €240,071 | -€17,711 | -6.9% |
| Amounts payable after more than one year | 17 | €199,060 | €180,697 | -€18,363 | -9.2% |
| Financial debts | 170/4 | €199,060 | €180,697 | -€18,363 | -9.2% |
| Amounts payable within one year | 42/48 | €58,723 | €59,300 | +€577 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €27,270 | €30,731 | +€3,460 | +12.7% |
| Financial debts | 43 | €2,154 | €103 | -€2,052 | -95.2% |
| Credit institutions | 430/8 | €2,154 | €103 | -€2,052 | -95.2% |
| Trade debts | 44 | €18,043 | €11,118 | -€6,924 | -38.4% |
| Suppliers | 440/4 | €18,043 | €11,118 | -€6,924 | -38.4% |
| Taxes, remuneration and social security | 45 | €11,256 | €17,348 | +€6,092 | +54.1% |
| Taxes | 450/3 | €7,056 | €13,148 | +€6,092 | +86.3% |
| Remuneration and social security | 454/9 | €4,200 | €4,200 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €74 | +€74 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,998 | €45,034 | +€36 | +0.1% |
| Other operating charges | 640/8 | €2,349 | €2,148 | -€201 | -8.6% |
| Gross operating margin | 9900 | €68,316 | €81,281 | +€12,964 | +19.0% |
| Operating profit (loss) | 9901 | €20,969 | €34,099 | +€13,130 | +62.6% |
| Financial income | 75/76B | €22,700 | €38,381 | +€15,681 | +69.1% |
| Recurring financial income | 75 | €22,700 | €38,381 | +€15,681 | +69.1% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €8,154 | €8,181 | +€27 | +0.3% |
| Recurring financial charges | 65 | €8,154 | €8,181 | +€27 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €35,515 | €64,299 | +€28,784 | +81.0% |
| Income taxes | 67/77 | €3,808 | €12,149 | +€8,340 | +219.0% |
| Profit (loss) for the period | 9904 | €31,706 | €52,150 | +€20,444 | +64.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,706 | €52,150 | +€20,444 | +64.5% |
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 4 October 2026 via checked.be.