BELMIMMO: 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.
BELMIMMO
Largest movements
- Cash -€305,970
down €305,970 (-94.6%), from €323,301 to €17,331
mainly Advances received (-€306,188) and Receivables within one year (-€60,013)
- Deferred charges and accrued income -€73,500
no longer reported in 2025 (was €73,500)
- Receivables within one year +€60,013
up €60,013 (+361%), from €16,603 to €76,616
of which Other amounts receivable: +€55,389
- Advances received -€306,188
no longer reported in 2025 (was €306,188)
- Profit (loss) carried forward -€29,657
down €29,657 (-535%), from -€5,547 to -€35,204
- Trade debts +€16,513
up €16,513 (+148%), from €11,168 to €27,681
- Other debts +€11,028
up €11,028 (+28.2%), from €39,139 to €50,166
- Debts after one year -€7,408
down €7,408 (-24.7%), from €29,995 to €22,587
- Gross operating margin -€60,119
down €60,119, from €59,790 to -€329
- Staff costs -€30,228
down €30,228 (-53.5%), from €56,503 to €26,274
- Financial charges -€3,329
down €3,329 (-65.2%), from €5,105 to €1,776
- Other operating charges -€2,717
down €2,717 (-82.0%), from €3,311 to €594
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 | €431,122 | €112,723 | -€318,399 | -73.9% |
| Fixed assets | 21/28 | €17,717 | €18,776 | +€1,059 | +6.0% |
| Tangible fixed assets | 22/27 | €17,717 | €18,776 | +€1,059 | +6.0% |
| Plant, machinery and equipment | 23 | - | €1,648 | +€1,648 | |
| Furniture and vehicles | 24 | €1,760 | €1,446 | -€314 | -17.8% |
| Other tangible fixed assets | 26 | €15,957 | €15,682 | -€275 | -1.7% |
| Current assets | 29/58 | €413,405 | €93,947 | -€319,458 | -77.3% |
| Amounts receivable within one year | 40/41 | €16,603 | €76,616 | +€60,013 | +361% |
| Trade receivables | 40 | €8,470 | €13,093 | +€4,623 | +54.6% |
| Other amounts receivable | 41 | €8,133 | €63,523 | +€55,389 | +681% |
| Cash at bank and in hand | 54/58 | €323,301 | €17,331 | -€305,970 | -94.6% |
| Deferred charges and accrued income | 490/1 | €73,500 | - | -€73,500 | |
| Total equity and liabilities | 10/49 | €431,122 | €112,723 | -€318,399 | -73.9% |
| Equity | 10/15 | €25,497 | -€4,217 | -€29,715 | |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Capital | 10 | €30,987 | €30,987 | = | 0.0% |
| Issued capital | 100 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €58 | - | -€58 | |
| Distributable reserves | 133 | €58 | - | -€58 | |
| Profit (loss) carried forward | 14 | -€5,547 | -€35,204 | -€29,657 | -535% |
| Amounts payable | 17/49 | €405,625 | €116,941 | -€288,684 | -71.2% |
| Amounts payable after more than one year | 17 | €29,995 | €22,587 | -€7,408 | -24.7% |
| Financial debts | 170/4 | €29,995 | €22,587 | -€7,408 | -24.7% |
| Amounts payable within one year | 42/48 | €375,629 | €94,353 | -€281,276 | -74.9% |
| Current portion of amounts payable after more than one year | 42 | €7,373 | €7,408 | +€35 | +0.5% |
| Trade debts | 44 | €11,168 | €27,681 | +€16,513 | +148% |
| Suppliers | 440/4 | €11,168 | €27,681 | +€16,513 | +148% |
| Advances received on contracts in progress | 46 | €306,188 | - | -€306,188 | |
| Taxes, remuneration and social security | 45 | €11,762 | €9,098 | -€2,664 | -22.7% |
| Taxes | 450/3 | €5,656 | €5,817 | +€161 | +2.9% |
| Remuneration and social security | 454/9 | €6,106 | €3,281 | -€2,825 | -46.3% |
| Other amounts payable | 47/48 | €39,139 | €50,166 | +€11,028 | +28.2% |
| Remuneration, social security and pensions | 62 | €56,503 | €26,274 | -€30,228 | -53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €589 | €741 | +€152 | +25.8% |
| Other operating charges | 640/8 | €3,311 | €594 | -€2,717 | -82.0% |
| Gross operating margin | 9900 | €59,790 | -€329 | -€60,119 | |
| Operating profit (loss) | 9901 | -€613 | -€27,938 | -€27,326 | -4,460% |
| Financial income | 75/76B | €171 | - | -€171 | |
| Recurring financial income | 75 | €171 | - | -€171 | |
| Financial charges | 65/66B | €5,105 | €1,776 | -€3,329 | -65.2% |
| Recurring financial charges | 65 | €5,105 | €1,776 | -€3,329 | -65.2% |
| Profit (loss) for the period before taxes | 9903 | -€5,547 | -€29,715 | -€24,168 | -436% |
| Profit (loss) for the period | 9904 | -€5,547 | -€29,715 | -€24,168 | -436% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,547 | -€29,715 | -€24,168 | -436% |
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 13 October 2026 via checked.be.