Belmoney: 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.
Belmoney
Largest movements
- Receivables within one year +€663,149
up €663,149 (+92.2%), from €719,190 to €1.4m
of which Other amounts receivable: +€681,680
- Cash +€431,882
up €431,882 (+95.8%), from €450,933 to €882,815
mainly Contributions, distributions and other (+€900,000) and Other debts (+€247,878)
- Intangible fixed assets +€384,378
new in 2025: €384,378
- Financial fixed assets -€321,672
down €321,672 (-65.4%), from €492,029 to €170,357
- Contributions +€900,000
up €900,000 (+720%), from €125,000 to €1.0m
of which Contributions outside capital: +€889,437
- Other debts +€247,878
up €247,878 (+17.8%), from €1.4m to €1.6m
- Gross operating margin +€356,610
up €356,610 (+219%), from €162,668 to €519,278
- Financial charges +€90,182
up €90,182 (+67.4%), from €133,784 to €223,966
- Staff costs +€45,375
up €45,375 (+71.2%), from €63,690 to €109,066
- Financial income -€33,589
down €33,589 (-58.1%), from €57,851 to €24,262
- Other operating charges -€12,193
down €12,193 (-25.6%), from €47,627 to €35,435
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 | €1,663,457 | €2,844,040 | +€1.2m | +71.0% |
| Fixed assets | 21/28 | €493,333 | €570,215 | +€76,882 | +15.6% |
| Intangible fixed assets | 21 | - | €384,378 | +€384,378 | |
| Tangible fixed assets | 22/27 | €1,305 | €15,480 | +€14,175 | +1,086% |
| Plant, machinery and equipment | 23 | €1,305 | €9,312 | +€8,008 | +614% |
| Furniture and vehicles | 24 | - | €6,168 | +€6,168 | |
| Financial fixed assets | 28 | €492,029 | €170,357 | -€321,672 | -65.4% |
| Current assets | 29/58 | €1,170,123 | €2,273,825 | +€1.1m | +94.3% |
| Amounts receivable within one year | 40/41 | €719,190 | €1,382,339 | +€663,149 | +92.2% |
| Trade receivables | 40 | €22,635 | €4,104 | -€18,531 | -81.9% |
| Other amounts receivable | 41 | €696,555 | €1,378,234 | +€681,680 | +97.9% |
| Cash at bank and in hand | 54/58 | €450,933 | €882,815 | +€431,882 | +95.8% |
| Deferred charges and accrued income | 490/1 | - | €8,670 | +€8,670 | |
| Total equity and liabilities | 10/49 | €1,663,457 | €2,844,040 | +€1.2m | +71.0% |
| Equity | 10/15 | €185,444 | €1,113,945 | +€928,502 | +501% |
| Contributions | 10/11 | €125,000 | €1,025,000 | +€900,000 | +720% |
| Capital | 10 | €125,000 | €135,563 | +€10,563 | +8.5% |
| Issued capital | 100 | €125,000 | €135,563 | +€10,563 | +8.5% |
| Contributions outside capital | 11 | - | €889,437 | +€889,437 | |
| Share premium | 1100/10 | - | €889,437 | +€889,437 | |
| Reserves | 13 | €6,000 | €7,425 | +€1,425 | +23.8% |
| Non-distributable reserves | 130/1 | €6,000 | €7,425 | +€1,425 | +23.8% |
| Legal reserve | 130 | €6,000 | €7,425 | +€1,425 | +23.8% |
| Profit (loss) carried forward | 14 | €54,444 | €81,520 | +€27,077 | +49.7% |
| Amounts payable | 17/49 | €1,478,013 | €1,730,094 | +€252,081 | +17.1% |
| Amounts payable within one year | 42/48 | €1,478,013 | €1,729,554 | +€251,541 | +17.0% |
| Trade debts | 44 | €74,690 | €73,095 | -€1,595 | -2.1% |
| Suppliers | 440/4 | €74,690 | €73,095 | -€1,595 | -2.1% |
| Taxes, remuneration and social security | 45 | €9,231 | €14,488 | +€5,257 | +56.9% |
| Taxes | 450/3 | €0 | €6,039 | +€6,039 | |
| Remuneration and social security | 454/9 | €9,231 | €8,450 | -€782 | -8.5% |
| Other amounts payable | 47/48 | €1,394,092 | €1,641,970 | +€247,878 | +17.8% |
| Accrued charges and deferred income | 492/3 | - | €541 | +€541 | |
| Remuneration, social security and pensions | 62 | €63,690 | €109,066 | +€45,375 | +71.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €746 | €3,111 | +€2,366 | +317% |
| Other operating charges | 640/8 | €47,627 | €35,435 | -€12,193 | -25.6% |
| Non-recurring operating charges | 66A | €18,860 | €136,584 | +€117,724 | +624% |
| Gross operating margin | 9900 | €162,668 | €519,278 | +€356,610 | +219% |
| Operating profit (loss) | 9901 | €31,744 | €235,082 | +€203,338 | +641% |
| Financial income | 75/76B | €57,851 | €24,262 | -€33,589 | -58.1% |
| Recurring financial income | 75 | €57,851 | €24,262 | -€33,589 | -58.1% |
| Financial charges | 65/66B | €133,784 | €223,966 | +€90,182 | +67.4% |
| Recurring financial charges | 65 | €133,784 | €223,966 | +€90,182 | +67.4% |
| Profit (loss) for the period before taxes | 9903 | -€44,190 | €35,377 | +€79,567 | |
| Income taxes | 67/77 | - | €6,876 | +€6,876 | |
| Profit (loss) for the period | 9904 | -€44,190 | €28,502 | +€72,691 | |
| Profit (loss) for the period to be appropriated | 9905 | -€44,190 | €28,502 | +€72,691 |
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 19 October 2026 via checked.be.