BELNICHA: 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.
BELNICHA
Largest movements
- Financial fixed assets +€700,000
new in 2025: €700,000
- Cash +€354,045
up €354,045 (+2562.0%), from €13,819 to €367,864
mainly Other debts (+€662,890) and Net result for the year (+€489,502)
- Current investments +€114,000
up €114,000 (+38.1%), from €299,000 to €413,000
- Receivables within one year +€51,313
up €51,313 (+26.4%), from €194,631 to €245,944
of which Trade receivables: +€53,000
- Other debts +€662,890
up €662,890 (+1633.5%), from €40,580 to €703,471
- Reserves +€489,502
up €489,502 (+200.6%), from €244,027 to €733,529
- Tax, wage and social debts +€67,550
up €67,550 (+276.8%), from €24,403 to €91,953
of which Taxes: +€48,950
- Gross operating margin +€234,261
up €234,261 (+85.2%), from €275,014 to €509,275
- Financial income +€37,179
up €37,179 (+694.0%), from €5,357 to €42,537
- Taxes +€24,548
up €24,548 (+100.6%), from €24,403 to €48,950
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 | €1,950,077 | €3,169,566 | +€1.2m | +62.5% |
| Fixed assets | 21/28 | €1,439,300 | €2,139,300 | +€700,000 | +48.6% |
| Tangible fixed assets | 22/27 | €1,439,300 | €1,439,300 | = | 0.0% |
| Land and buildings | 22 | €1,439,300 | €1,439,300 | = | 0.0% |
| Financial fixed assets | 28 | - | €700,000 | +€700,000 | |
| Current assets | 29/58 | €510,778 | €1,030,267 | +€519,489 | +101.7% |
| Amounts receivable within one year | 40/41 | €194,631 | €245,944 | +€51,313 | +26.4% |
| Trade receivables | 40 | €192,000 | €245,000 | +€53,000 | +27.6% |
| Other amounts receivable | 41 | €2,631 | €944 | -€1,687 | -64.1% |
| Current investments | 50/53 | €299,000 | €413,000 | +€114,000 | +38.1% |
| Cash at bank and in hand | 54/58 | €13,819 | €367,864 | +€354,045 | +2562.0% |
| Deferred charges and accrued income | 490/1 | €3,327 | €3,459 | +€132 | +4.0% |
| Total equity and liabilities | 10/49 | €1,950,077 | €3,169,566 | +€1.2m | +62.5% |
| Equity | 10/15 | €1,882,070 | €2,371,572 | +€489,502 | +26.0% |
| Contributions | 10/11 | €3,192,396 | €3,192,396 | = | 0.0% |
| Capital | 10 | €3,192,396 | €3,192,396 | = | 0.0% |
| Issued capital | 100 | €3,192,396 | €3,192,396 | = | 0.0% |
| Reserves | 13 | €244,027 | €733,529 | +€489,502 | +200.6% |
| Distributable reserves | 133 | €244,027 | €733,529 | +€489,502 | +200.6% |
| Profit (loss) carried forward | 14 | -€1,554,353 | -€1,554,353 | = | 0.0% |
| Amounts payable | 17/49 | €68,007 | €797,994 | +€729,987 | +1073.4% |
| Amounts payable within one year | 42/48 | €68,007 | €797,994 | +€729,987 | +1073.4% |
| Trade debts | 44 | €3,024 | €2,571 | -€454 | -15.0% |
| Suppliers | 440/4 | €3,024 | €2,571 | -€454 | -15.0% |
| Taxes, remuneration and social security | 45 | €24,403 | €91,953 | +€67,550 | +276.8% |
| Taxes | 450/3 | €24,403 | €73,353 | +€48,950 | +200.6% |
| Remuneration and social security | 454/9 | - | €18,600 | +€18,600 | |
| Other amounts payable | 47/48 | €40,580 | €703,471 | +€662,890 | +1633.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €11,347 | €9,123 | -€2,224 | -19.6% |
| Gross operating margin | 9900 | €275,014 | €509,275 | +€234,261 | +85.2% |
| Operating profit (loss) | 9901 | €263,668 | €500,152 | +€236,485 | +89.7% |
| Financial income | 75/76B | €5,357 | €42,537 | +€37,179 | +694.0% |
| Recurring financial income | 75 | €5,357 | €42,537 | +€37,179 | +694.0% |
| Financial charges | 65/66B | €595 | €4,237 | +€3,642 | +612.1% |
| Recurring financial charges | 65 | €595 | €4,237 | +€3,642 | +612.1% |
| Profit (loss) for the period before taxes | 9903 | €268,430 | €538,452 | +€270,023 | +100.6% |
| Income taxes | 67/77 | €24,403 | €48,950 | +€24,548 | +100.6% |
| Profit (loss) for the period | 9904 | €244,027 | €489,502 | +€245,475 | +100.6% |
| Profit (loss) for the period to be appropriated | 9905 | €244,027 | €489,502 | +€245,475 | +100.6% |
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 12 October 2026 via checked.be.