BELIVERO: 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.
BELIVERO
Largest movements
- Receivables within one year +€99,117
up €99,117 (+82.9%), from €119,543 to €218,660
- Cash +€51,461
up €51,461 (+106.9%), from €48,144 to €99,605
mainly Trade debts (+€85,047) and Net result for the year (+€34,101)
- Tangible fixed assets -€14,512
down €14,512 (-23.0%), from €62,983 to €48,470
of which Furniture and vehicles: -€8,202
- Trade debts +€85,047
up €85,047 (+78.6%), from €108,245 to €193,292
- Profit (loss) carried forward +€34,101
up €34,101, from -€32,069 to €2,032
- Tax, wage and social debts +€22,577
up €22,577 (+99.3%), from €22,734 to €45,311
of which Remuneration and social security: +€14,126
- Debts after one year -€5,834
down €5,834 (-4.9%), from €119,860 to €114,026
- Gross operating margin +€127,101
up €127,101 (+166.6%), from €76,294 to €203,395
- Staff costs +€52,185
up €52,185 (+57.0%), from €91,540 to €143,725
- Depreciation +€4,144
up €4,144 (+40.0%), from €10,368 to €14,512
- Taxes +€3,816
up €3,816 (+2182.2%), from €175 to €3,991
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.
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 | €245,372 | €381,495 | +€136,123 | +55.5% |
| Fixed assets | 21/28 | €71,983 | €57,470 | -€14,512 | -20.2% |
| Tangible fixed assets | 22/27 | €62,983 | €48,470 | -€14,512 | -23.0% |
| Furniture and vehicles | 24 | €35,364 | €27,162 | -€8,202 | -23.2% |
| Leasing and similar rights | 25 | €24,988 | €19,084 | -€5,903 | -23.6% |
| Other tangible fixed assets | 26 | €2,631 | €2,224 | -€407 | -15.5% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €173,389 | €324,025 | +€150,635 | +86.9% |
| Amounts receivable within one year | 40/41 | €119,543 | €218,660 | +€99,117 | +82.9% |
| Trade receivables | 40 | €119,543 | €218,660 | +€99,117 | +82.9% |
| Cash at bank and in hand | 54/58 | €48,144 | €99,605 | +€51,461 | +106.9% |
| Deferred charges and accrued income | 490/1 | €5,703 | €5,760 | +€57 | +1.0% |
| Total equity and liabilities | 10/49 | €245,372 | €381,495 | +€136,123 | +55.5% |
| Equity | 10/15 | -€11,069 | €23,032 | +€34,101 | |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,069 | €2,032 | +€34,101 | |
| Amounts payable | 17/49 | €256,441 | €358,463 | +€102,022 | +39.8% |
| Amounts payable after more than one year | 17 | €119,860 | €114,026 | -€5,834 | -4.9% |
| Financial debts | 170/4 | €119,860 | €114,026 | -€5,834 | -4.9% |
| Amounts payable within one year | 42/48 | €136,581 | €244,437 | +€107,856 | +79.0% |
| Current portion of amounts payable after more than one year | 42 | €5,602 | €5,834 | +€232 | +4.1% |
| Trade debts | 44 | €108,245 | €193,292 | +€85,047 | +78.6% |
| Suppliers | 440/4 | €108,245 | €193,292 | +€85,047 | +78.6% |
| Taxes, remuneration and social security | 45 | €22,734 | €45,311 | +€22,577 | +99.3% |
| Taxes | 450/3 | €10,195 | €18,645 | +€8,450 | +82.9% |
| Remuneration and social security | 454/9 | €12,539 | €26,666 | +€14,126 | +112.7% |
| Non-recurring operating income | 76A | - | €1,503 | +€1,503 | |
| Remuneration, social security and pensions | 62 | €91,540 | €143,725 | +€52,185 | +57.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,368 | €14,512 | +€4,144 | +40.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €650 | +€650 | |
| Other operating charges | 640/8 | €5,178 | €5,425 | +€248 | +4.8% |
| Gross operating margin | 9900 | €76,294 | €203,395 | +€127,101 | +166.6% |
| Operating profit (loss) | 9901 | -€30,792 | €39,083 | +€69,875 | |
| Financial income | 75/76B | - | €78 | +€78 | |
| Recurring financial income | 75 | - | €78 | +€78 | |
| Financial charges | 65/66B | €1,102 | €1,069 | -€33 | -3.0% |
| Recurring financial charges | 65 | €1,102 | €1,069 | -€33 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | -€31,894 | €38,092 | +€69,986 | |
| Income taxes | 67/77 | €175 | €3,991 | +€3,816 | +2182.2% |
| Profit (loss) for the period | 9904 | -€32,069 | €34,101 | +€66,170 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,069 | €34,101 | +€66,170 |
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 11 October 2026 via checked.be.