BELOMED: 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.
BELOMED
Largest movements
- Cash +€228,068
up €228,068 (+116%), from €196,100 to €424,168
mainly Net result for the year (+€184,876) and Other debts (+€107,044)
- Intangible fixed assets -€20,000
down €20,000 (-16.3%), from €122,685 to €102,685
- Tangible fixed assets -€14,865
down €14,865 (-78.7%), from €18,894 to €4,029
of which Leasing and similar rights: -€11,573
- Other debts +€107,044
up €107,044 (+65.5%), from €163,475 to €270,519
- Reserves +€34,876
up €34,876 (+15.9%), from €218,879 to €253,755
- Accrued charges and deferred income +€30,404
up €30,404 (+299%), from €10,159 to €40,564
- Tax, wage and social debts +€26,733
up €26,733 (+191%), from €14,000 to €40,733
of which Taxes: +€30,332
- Debts after one year -€8,772
down €8,772 (-100%), from €8,772 to €0
- Gross operating margin +€121,979
up €121,979 (+68.7%), from €177,490 to €299,469
- Taxes +€30,885
up €30,885 (+104%), from €29,569 to €60,454
- Staff costs +€10,566
new in 2025: €10,566
- Financial charges -€3,269
down €3,269 (-39.8%), from €8,221 to €4,952
- Depreciation -€3,021
down €3,021 (-8.0%), from €37,886 to €34,865
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 | €447,147 | €635,907 | +€188,760 | +42.2% |
| Fixed assets | 21/28 | €141,579 | €106,714 | -€34,865 | -24.6% |
| Intangible fixed assets | 21 | €122,685 | €102,685 | -€20,000 | -16.3% |
| Tangible fixed assets | 22/27 | €18,894 | €4,029 | -€14,865 | -78.7% |
| Plant, machinery and equipment | 23 | €454 | €54 | -€400 | -88.2% |
| Furniture and vehicles | 24 | €5,060 | €2,168 | -€2,892 | -57.2% |
| Leasing and similar rights | 25 | €13,380 | €1,807 | -€11,573 | -86.5% |
| Current assets | 29/58 | €305,568 | €529,193 | +€223,625 | +73.2% |
| Amounts receivable within one year | 40/41 | €108,165 | €103,948 | -€4,217 | -3.9% |
| Other amounts receivable | 41 | €108,165 | €103,948 | -€4,217 | -3.9% |
| Cash at bank and in hand | 54/58 | €196,100 | €424,168 | +€228,068 | +116% |
| Deferred charges and accrued income | 490/1 | €1,303 | €1,077 | -€226 | -17.3% |
| Total equity and liabilities | 10/49 | €447,147 | €635,907 | +€188,760 | +42.2% |
| Equity | 10/15 | €238,879 | €273,755 | +€34,876 | +14.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €218,879 | €253,755 | +€34,876 | +15.9% |
| Distributable reserves | 133 | €218,879 | €253,755 | +€34,876 | +15.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €208,268 | €362,152 | +€153,885 | +73.9% |
| Amounts payable after more than one year | 17 | €8,772 | €0 | -€8,772 | -100% |
| Financial debts | 170/4 | €8,772 | €0 | -€8,772 | -100% |
| Amounts payable within one year | 42/48 | €189,336 | €321,589 | +€132,253 | +69.9% |
| Current portion of amounts payable after more than one year | 42 | €11,645 | €8,772 | -€2,873 | -24.7% |
| Trade debts | 44 | €217 | €1,565 | +€1,348 | +623% |
| Suppliers | 440/4 | €217 | €1,565 | +€1,348 | +623% |
| Taxes, remuneration and social security | 45 | €14,000 | €40,733 | +€26,733 | +191% |
| Taxes | 450/3 | €9,000 | €39,332 | +€30,332 | +337% |
| Remuneration and social security | 454/9 | €5,000 | €1,401 | -€3,599 | -72.0% |
| Other amounts payable | 47/48 | €163,475 | €270,519 | +€107,044 | +65.5% |
| Accrued charges and deferred income | 492/3 | €10,159 | €40,564 | +€30,404 | +299% |
| Remuneration, social security and pensions | 62 | - | €10,566 | +€10,566 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,886 | €34,865 | -€3,021 | -8.0% |
| Other operating charges | 640/8 | €3,480 | €4,082 | +€602 | +17.3% |
| Gross operating margin | 9900 | €177,490 | €299,469 | +€121,979 | +68.7% |
| Operating profit (loss) | 9901 | €136,124 | €249,956 | +€113,832 | +83.6% |
| Financial income | 75/76B | €5 | €325 | +€320 | +6,232% |
| Recurring financial income | 75 | €5 | €325 | +€320 | +6,232% |
| Financial charges | 65/66B | €8,221 | €4,952 | -€3,269 | -39.8% |
| Recurring financial charges | 65 | €8,221 | €4,952 | -€3,269 | -39.8% |
| Profit (loss) for the period before taxes | 9903 | €127,908 | €245,329 | +€117,421 | +91.8% |
| Income taxes | 67/77 | €29,569 | €60,454 | +€30,885 | +104% |
| Profit (loss) for the period | 9904 | €98,339 | €184,876 | +€86,536 | +88.0% |
| Profit (loss) for the period to be appropriated | 9905 | €98,339 | €184,876 | +€86,536 | +88.0% |
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 20 October 2026 via checked.be.