BELKLIMO: 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.
BELKLIMO
Largest movements
- Cash +€69,575
up €69,575 (+37.4%), from €185,954 to €255,529
mainly Net result for the year (+€86,697) and Depreciation (+€64,220)
- Tangible fixed assets +€49,621
up €49,621 (+3.0%), from €1.6m to €1.7m
- Profit (loss) carried forward +€82,362
up €82,362 (+44.8%), from €183,799 to €266,161
- Gross operating margin +€30,020
up €30,020 (+19.4%), from €154,544 to €184,564
- Taxes +€19,305
new in 2025: €19,305
- Financial charges -€9,956
down €9,956 (-98.1%), from €10,150 to €194
- Depreciation -€6,611
down €6,611 (-9.3%), from €70,831 to €64,220
- Other operating charges -€2,876
down €2,876 (-16.9%), from €17,025 to €14,148
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 | €1,832,160 | €1,942,995 | +€110,834 | +6.0% |
| Fixed assets | 21/28 | €1,637,712 | €1,687,333 | +€49,621 | +3.0% |
| Tangible fixed assets | 22/27 | €1,632,012 | €1,681,633 | +€49,621 | +3.0% |
| Land and buildings | 22 | €1,632,012 | €1,681,633 | +€49,621 | +3.0% |
| Financial fixed assets | 28 | €5,700 | €5,700 | = | 0.0% |
| Current assets | 29/58 | €194,448 | €255,662 | +€61,214 | +31.5% |
| Amounts receivable within one year | 40/41 | €8,495 | €133 | -€8,361 | -98.4% |
| Trade receivables | 40 | €8,495 | - | -€8,495 | |
| Other amounts receivable | 41 | - | €133 | +€133 | |
| Cash at bank and in hand | 54/58 | €185,954 | €255,529 | +€69,575 | +37.4% |
| Total equity and liabilities | 10/49 | €1,832,160 | €1,942,995 | +€110,834 | +6.0% |
| Equity | 10/15 | €1,831,008 | €1,917,705 | +€86,697 | +4.7% |
| Contributions | 10/11 | €1,638,182 | €1,638,182 | = | 0.0% |
| Capital | 10 | €1,638,182 | €1,638,182 | = | 0.0% |
| Issued capital | 100 | €1,638,182 | €1,638,182 | = | 0.0% |
| Reserves | 13 | €9,027 | €13,362 | +€4,335 | +48.0% |
| Non-distributable reserves | 130/1 | €9,027 | €13,362 | +€4,335 | +48.0% |
| Legal reserve | 130 | €9,027 | €13,362 | +€4,335 | +48.0% |
| Profit (loss) carried forward | 14 | €183,799 | €266,161 | +€82,362 | +44.8% |
| Amounts payable | 17/49 | €1,153 | €25,290 | +€24,138 | +2094.3% |
| Amounts payable within one year | 42/48 | €1,153 | €25,290 | +€24,138 | +2094.3% |
| Trade debts | 44 | - | €5,985 | +€5,985 | |
| Bills of exchange payable | 441 | - | €5,985 | +€5,985 | |
| Taxes, remuneration and social security | 45 | €1,153 | €19,305 | +€18,152 | +1575.0% |
| Taxes | 450/3 | €1,153 | €19,305 | +€18,152 | +1575.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,831 | €64,220 | -€6,611 | -9.3% |
| Other operating charges | 640/8 | €17,025 | €14,148 | -€2,876 | -16.9% |
| Gross operating margin | 9900 | €154,544 | €184,564 | +€30,020 | +19.4% |
| Operating profit (loss) | 9901 | €66,688 | €106,196 | +€39,507 | +59.2% |
| Financial charges | 65/66B | €10,150 | €194 | -€9,956 | -98.1% |
| Recurring financial charges | 65 | €10,150 | €194 | -€9,956 | -98.1% |
| Profit (loss) for the period before taxes | 9903 | €56,538 | €106,002 | +€49,464 | +87.5% |
| Income taxes | 67/77 | - | €19,305 | +€19,305 | |
| Profit (loss) for the period | 9904 | €56,538 | €86,697 | +€30,159 | +53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €56,538 | €86,697 | +€30,159 | +53.3% |
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 6 October 2026 via checked.be.