BELKREMAS: 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.
BELKREMAS
Largest movements
- Cash -€189,554
down €189,554 (-99.5%), from €190,483 to €929
- Tangible fixed assets +€61,751
up €61,751 (+21.9%), from €281,897 to €343,648
of which Furniture and vehicles: +€79,240
- Receivables within one year +€34,962
up €34,962 (+114.7%), from €30,470 to €65,432
- Profit (loss) carried forward -€84,573
down €84,573 (-18.4%), from €458,646 to €374,074
- Gross operating margin -€24,105
down €24,105, from €9,815 to -€14,291
- Depreciation +€21,540
up €21,540 (+117.5%), from €18,325 to €39,865
- Taxes +€5,346
new in 2025: €5,346
- Financial income +€3,813
new in 2025: €3,813
- Other operating charges -€390
down €390 (-6.8%), from €5,748 to €5,358
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €503,864 | €413,932 | -€89,932 | -17.8% |
| Fixed assets | 21/28 | €281,897 | €343,648 | +€61,751 | +21.9% |
| Tangible fixed assets | 22/27 | €281,897 | €343,648 | +€61,751 | +21.9% |
| Land and buildings | 22 | €281,594 | €264,408 | -€17,186 | -6.1% |
| Plant, machinery and equipment | 23 | €302 | - | -€302 | |
| Furniture and vehicles | 24 | - | €79,240 | +€79,240 | |
| Current assets | 29/58 | €221,968 | €70,285 | -€151,683 | -68.3% |
| Amounts receivable within one year | 40/41 | €30,470 | €65,432 | +€34,962 | +114.7% |
| Other amounts receivable | 41 | €30,470 | €65,432 | +€34,962 | +114.7% |
| Cash at bank and in hand | 54/58 | €190,483 | €929 | -€189,554 | -99.5% |
| Deferred charges and accrued income | 490/1 | €1,015 | €3,924 | +€2,909 | +286.5% |
| Total equity and liabilities | 10/49 | €503,864 | €413,932 | -€89,932 | -17.8% |
| Equity | 10/15 | €496,905 | €412,332 | -€84,573 | -17.0% |
| Contributions | 10/11 | €2,479 | €2,479 | = | 0.0% |
| Reserves | 13 | €35,780 | €35,780 | = | 0.0% |
| Non-distributable reserves | 130/1 | €248 | €248 | = | 0.0% |
| Reserves not available under the articles | 1311 | €248 | €248 | = | 0.0% |
| Tax-exempt reserves | 132 | €532 | €532 | = | 0.0% |
| Distributable reserves | 133 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €458,646 | €374,074 | -€84,573 | -18.4% |
| Amounts payable | 17/49 | €6,959 | €1,600 | -€5,359 | -77.0% |
| Amounts payable within one year | 42/48 | €5,259 | - | -€5,259 | |
| Trade debts | 44 | €4,630 | - | -€4,630 | |
| Suppliers | 440/4 | €4,630 | - | -€4,630 | |
| Taxes, remuneration and social security | 45 | €629 | - | -€629 | |
| Taxes | 450/3 | €629 | - | -€629 | |
| Accrued charges and deferred income | 492/3 | €1,700 | €1,600 | -€100 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,325 | €39,865 | +€21,540 | +117.5% |
| Other operating charges | 640/8 | €5,748 | €5,358 | -€390 | -6.8% |
| Gross operating margin | 9900 | €9,815 | -€14,291 | -€24,105 | |
| Operating profit (loss) | 9901 | -€14,259 | -€59,514 | -€45,255 | -317.4% |
| Financial income | 75/76B | - | €3,813 | +€3,813 | |
| Recurring financial income | 75 | - | €3,813 | +€3,813 | |
| Financial charges | 65/66B | €49 | €86 | +€38 | +77.2% |
| Recurring financial charges | 65 | €49 | €86 | +€38 | +77.2% |
| Profit (loss) for the period before taxes | 9903 | -€14,307 | -€55,786 | -€41,479 | -289.9% |
| Income taxes | 67/77 | - | €5,346 | +€5,346 | |
| Profit (loss) for the period | 9904 | -€14,307 | -€61,132 | -€46,825 | -327.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,307 | -€61,132 | -€46,825 | -327.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.