BELOMAR: 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.
BELOMAR
Largest movements
- Cash -€13,056
down €13,056 (-19.3%), from €67,806 to €54,750
mainly Net result for the year (-€30,325) and Investment in fixed assets (net) (-€23,778)
- Tangible fixed assets -€7,677
down €7,677 (-2.6%), from €292,298 to €284,621
of which Land and buildings: -€21,487
- Profit (loss) carried forward -€30,325
down €30,325 (-9.7%), from €313,954 to €283,628
- Trade debts +€9,138
up €9,138 (+353.5%), from €2,585 to €11,723
- Gross operating margin -€15,923
down €15,923 (-64.5%), from €24,706 to €8,782
- Depreciation +€750
up €750 (+2.4%), from €30,706 to €31,455
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 | €361,708 | €340,956 | -€20,752 | -5.7% |
| Fixed assets | 21/28 | €292,548 | €284,871 | -€7,677 | -2.6% |
| Tangible fixed assets | 22/27 | €292,298 | €284,621 | -€7,677 | -2.6% |
| Land and buildings | 22 | €260,414 | €238,927 | -€21,487 | -8.3% |
| Plant, machinery and equipment | 23 | €445 | €23,255 | +€22,810 | +5121.8% |
| Furniture and vehicles | 24 | €31,438 | €22,438 | -€9,000 | -28.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €69,160 | €56,085 | -€13,075 | -18.9% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €67,806 | €54,750 | -€13,056 | -19.3% |
| Deferred charges and accrued income | 490/1 | €1,354 | €1,335 | -€20 | -1.4% |
| Total equity and liabilities | 10/49 | €361,708 | €340,956 | -€20,752 | -5.7% |
| Equity | 10/15 | €354,874 | €324,548 | -€30,325 | -8.5% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €3,720 | €3,720 | = | 0.0% |
| Distributable reserves | 133 | €3,720 | €3,720 | = | 0.0% |
| Profit (loss) carried forward | 14 | €313,954 | €283,628 | -€30,325 | -9.7% |
| Amounts payable | 17/49 | €6,834 | €16,408 | +€9,573 | +140.1% |
| Amounts payable within one year | 42/48 | €3,491 | €13,065 | +€9,573 | +274.2% |
| Trade debts | 44 | €2,585 | €11,723 | +€9,138 | +353.5% |
| Suppliers | 440/4 | €2,585 | €11,723 | +€9,138 | +353.5% |
| Taxes, remuneration and social security | 45 | €906 | €719 | -€187 | -20.6% |
| Taxes | 450/3 | €906 | €719 | -€187 | -20.6% |
| Other amounts payable | 47/48 | €0 | €622 | +€622 | |
| Accrued charges and deferred income | 492/3 | €3,343 | €3,343 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,706 | €31,455 | +€750 | +2.4% |
| Other operating charges | 640/8 | €7,280 | €7,393 | +€113 | +1.6% |
| Gross operating margin | 9900 | €24,706 | €8,782 | -€15,923 | -64.5% |
| Operating profit (loss) | 9901 | -€13,280 | -€30,066 | -€16,786 | -126.4% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €68 | €72 | +€4 | +5.8% |
| Recurring financial charges | 65 | €68 | €72 | +€4 | +5.8% |
| Profit (loss) for the period before taxes | 9903 | -€13,348 | -€30,137 | -€16,789 | -125.8% |
| Income taxes | 67/77 | €157 | €188 | +€32 | +20.1% |
| Profit (loss) for the period | 9904 | -€13,505 | -€30,325 | -€16,821 | -124.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,505 | -€30,325 | -€16,821 | -124.6% |
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 3 October 2026 via checked.be.