BELNOVA: 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.
BELNOVA
Largest movements
- Financial fixed assets +€980,000
new in 2025: €980,000
- Other debts +€533,971
up €533,971 (+15256.3%), from €3,500 to €537,471
- Debts after one year +€337,722
new in 2025: €337,722
- Current portion of long-term debt +€68,443
new in 2025: €68,443
- Profit (loss) carried forward +€38,810
up €38,810, from -€3,704 to €35,105
- Financial income +€45,697
up €45,697 (+121956.2%), from €37 to €45,734
- Financial charges +€30,245
up €30,245 (+13933.4%), from €217 to €30,462
- Gross operating margin +€27,461
up €27,461, from -€3,125 to €24,337
- Other operating charges +€399
up €399 (+99.6%), from €400 to €799
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 | €2,820 | €981,742 | +€978,921 | +34709.1% |
| Fixed assets | 21/28 | - | €980,000 | +€980,000 | |
| Financial fixed assets | 28 | - | €980,000 | +€980,000 | |
| Current assets | 29/58 | €2,820 | €1,742 | -€1,079 | -38.2% |
| Amounts receivable within one year | 40/41 | €2,274 | €747 | -€1,527 | -67.1% |
| Trade receivables | 40 | €30 | €162 | +€132 | +440.0% |
| Other amounts receivable | 41 | €2,244 | €585 | -€1,659 | -73.9% |
| Cash at bank and in hand | 54/58 | €546 | €995 | +€448 | +82.0% |
| Total equity and liabilities | 10/49 | €2,820 | €981,742 | +€978,921 | +34709.1% |
| Equity | 10/15 | -€704 | €38,105 | +€38,810 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,704 | €35,105 | +€38,810 | |
| Amounts payable | 17/49 | €3,525 | €943,636 | +€940,112 | +26671.3% |
| Amounts payable after more than one year | 17 | - | €337,722 | +€337,722 | |
| Financial debts | 170/4 | - | €337,722 | +€337,722 | |
| Amounts payable within one year | 42/48 | €3,525 | €605,915 | +€602,390 | +17090.0% |
| Current portion of amounts payable after more than one year | 42 | - | €68,443 | +€68,443 | |
| Trade debts | 44 | €25 | - | -€25 | |
| Suppliers | 440/4 | €25 | - | -€25 | |
| Other amounts payable | 47/48 | €3,500 | €537,471 | +€533,971 | +15256.3% |
| Other operating charges | 640/8 | €400 | €799 | +€399 | +99.6% |
| Gross operating margin | 9900 | -€3,125 | €24,337 | +€27,461 | |
| Operating profit (loss) | 9901 | -€3,525 | €23,538 | +€27,062 | |
| Financial income | 75/76B | €37 | €45,734 | +€45,697 | +121956.2% |
| Recurring financial income | 75 | €37 | €45,734 | +€45,697 | +121956.2% |
| Financial charges | 65/66B | €217 | €30,462 | +€30,245 | +13933.4% |
| Recurring financial charges | 65 | €217 | €30,462 | +€30,245 | +13933.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,704 | €38,810 | +€42,514 | |
| Profit (loss) for the period | 9904 | -€3,704 | €38,810 | +€42,514 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,704 | €38,810 | +€42,514 |
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 30 September 2026 via checked.be.