Belonma: 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.
Belonma
Largest movements
- Receivables within one year +€105,404
up €105,404 (+53.5%), from €197,096 to €302,500
- Tangible fixed assets -€63,440
down €63,440 (-100%), from €63,440 to €0
- Cash +€50,005
up €50,005 (+2,613%), from €1,913 to €51,918
mainly Net result for the year (+€137,632) and Investment in fixed assets (net) (+€63,440)
- Reserves +€137,632
up €137,632 (+119%), from €115,669 to €253,301
of which Distributable reserves: +€137,632
- Debts after one year -€107,800
down €107,800 (-100%), from €107,800 to €0
- Tax, wage and social debts +€61,878
up €61,878 (+884%), from €6,996 to €68,875
- Financial income +€191,839
up €191,839 (+1,729%), from €11,094 to €202,933
of which Non-recurring financial income: +€191,560
- Taxes +€64,889
up €64,889 (+1,628%), from €3,985 to €68,875
- Gross operating margin -€3,473
down €3,473 (-38.0%), from €9,127 to €5,655
- Depreciation -€2,971
down €2,971 (-100%), from €2,971 to €0
- Financial charges -€322
down €322 (-64.4%), from €501 to €178
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 | €262,450 | €354,419 | +€91,969 | +35.0% |
| Fixed assets | 21/28 | €63,440 | €0 | -€63,440 | -100% |
| Tangible fixed assets | 22/27 | €63,440 | €0 | -€63,440 | -100% |
| Land and buildings | 22 | €63,440 | €0 | -€63,440 | -100% |
| Current assets | 29/58 | €199,010 | €354,419 | +€155,409 | +78.1% |
| Amounts receivable within one year | 40/41 | €197,096 | €302,500 | +€105,404 | +53.5% |
| Other amounts receivable | 41 | €197,096 | €302,500 | +€105,404 | +53.5% |
| Cash at bank and in hand | 54/58 | €1,913 | €51,918 | +€50,005 | +2,613% |
| Total equity and liabilities | 10/49 | €262,450 | €354,419 | +€91,969 | +35.0% |
| Equity | 10/15 | €146,655 | €284,287 | +€137,632 | +93.8% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Capital | 10 | €30,987 | €30,987 | = | 0.0% |
| Issued capital | 100 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €115,669 | €253,301 | +€137,632 | +119% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €112,570 | €250,202 | +€137,632 | +122% |
| Amounts payable | 17/49 | €115,795 | €70,131 | -€45,663 | -39.4% |
| Amounts payable after more than one year | 17 | €107,800 | €0 | -€107,800 | -100% |
| Financial debts | 170/4 | €107,800 | €0 | -€107,800 | -100% |
| Amounts payable within one year | 42/48 | €7,995 | €70,131 | +€62,137 | +777% |
| Trade debts | 44 | €998 | €1,257 | +€258 | +25.9% |
| Suppliers | 440/4 | €998 | €1,257 | +€258 | +25.9% |
| Taxes, remuneration and social security | 45 | €6,996 | €68,875 | +€61,878 | +884% |
| Taxes | 450/3 | €6,996 | €68,875 | +€61,878 | +884% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,971 | €0 | -€2,971 | -100% |
| Other operating charges | 640/8 | €2,124 | €1,903 | -€221 | -10.4% |
| Gross operating margin | 9900 | €9,127 | €5,655 | -€3,473 | -38.0% |
| Operating profit (loss) | 9901 | €4,032 | €3,752 | -€280 | -6.9% |
| Financial income | 75/76B | €11,094 | €202,933 | +€191,839 | +1,729% |
| Recurring financial income | 75 | €11,094 | €11,373 | +€279 | +2.5% |
| Non-recurring financial income | 76B | - | €191,560 | +€191,560 | |
| Financial charges | 65/66B | €501 | €178 | -€322 | -64.4% |
| Recurring financial charges | 65 | €501 | €178 | -€322 | -64.4% |
| Profit (loss) for the period before taxes | 9903 | €14,625 | €206,507 | +€191,882 | +1,312% |
| Income taxes | 67/77 | €3,985 | €68,875 | +€64,889 | +1,628% |
| Profit (loss) for the period | 9904 | €10,640 | €137,632 | +€126,992 | +1,194% |
| Profit (loss) for the period to be appropriated | 9905 | €10,640 | €137,632 | +€126,992 | +1,194% |
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 13 October 2026 via checked.be.