Belony: 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.
Belony
Largest movements
- Tangible fixed assets +€120,968
up €120,968 (+11.1%), from €1.1m to €1.2m
of which Land and buildings: +€100,014
- Receivables within one year -€31,682
down €31,682 (-76.1%), from €41,660 to €9,977
of which Trade receivables: -€39,880
- Current investments +€27,105
up €27,105 (+225.9%), from €12,000 to €39,105
- Cash +€17,791
up €17,791 (+60.2%), from €29,574 to €47,365
mainly Net result for the year (+€61,301) and Depreciation (+€42,041)
- Reserves +€61,301
up €61,301 (+48.4%), from €126,734 to €188,036
- Debts after one year +€37,685
up €37,685 (+4.5%), from €837,877 to €875,562
- Short-term financial debts +€25,444
new in 2025: €25,444
- Gross operating margin -€215,549
down €215,549 (-57.3%), from €376,501 to €160,951
- Staff costs -€130,648
no longer reported in 2025 (was €130,648)
- Taxes -€20,048
down €20,048 (-52.5%), from €38,220 to €18,173
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 | €1,176,978 | €1,311,160 | +€134,181 | +11.4% |
| Fixed assets | 21/28 | €1,093,744 | €1,214,712 | +€120,968 | +11.1% |
| Tangible fixed assets | 22/27 | €1,093,744 | €1,214,712 | +€120,968 | +11.1% |
| Land and buildings | 22 | €1,091,439 | €1,191,453 | +€100,014 | +9.2% |
| Plant, machinery and equipment | 23 | €2,306 | €14,721 | +€12,415 | +538.4% |
| Furniture and vehicles | 24 | - | €8,539 | +€8,539 | |
| Current assets | 29/58 | €83,234 | €96,447 | +€13,213 | +15.9% |
| Amounts receivable within one year | 40/41 | €41,660 | €9,977 | -€31,682 | -76.1% |
| Trade receivables | 40 | €39,880 | - | -€39,880 | |
| Other amounts receivable | 41 | €1,780 | €9,977 | +€8,198 | +460.7% |
| Current investments | 50/53 | €12,000 | €39,105 | +€27,105 | +225.9% |
| Cash at bank and in hand | 54/58 | €29,574 | €47,365 | +€17,791 | +60.2% |
| Total equity and liabilities | 10/49 | €1,176,978 | €1,311,160 | +€134,181 | +11.4% |
| Equity | 10/15 | €266,734 | €328,036 | +€61,301 | +23.0% |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Reserves | 13 | €126,734 | €188,036 | +€61,301 | +48.4% |
| Distributable reserves | 133 | €126,734 | €188,036 | +€61,301 | +48.4% |
| Amounts payable | 17/49 | €910,244 | €983,124 | +€72,880 | +8.0% |
| Amounts payable after more than one year | 17 | €837,877 | €875,562 | +€37,685 | +4.5% |
| Financial debts | 170/4 | €837,877 | €875,562 | +€37,685 | +4.5% |
| Amounts payable within one year | 42/48 | €72,367 | €106,159 | +€33,792 | +46.7% |
| Current portion of amounts payable after more than one year | 42 | €29,590 | €30,815 | +€1,226 | +4.1% |
| Financial debts | 43 | - | €25,444 | +€25,444 | |
| Credit institutions | 430/8 | - | €25,444 | +€25,444 | |
| Trade debts | 44 | €17,016 | €30,011 | +€12,995 | +76.4% |
| Suppliers | 440/4 | €17,016 | €30,011 | +€12,995 | +76.4% |
| Taxes, remuneration and social security | 45 | €22,363 | €17,271 | -€5,092 | -22.8% |
| Taxes | 450/3 | €19,863 | €17,271 | -€2,592 | -13.0% |
| Remuneration and social security | 454/9 | €2,500 | - | -€2,500 | |
| Other amounts payable | 47/48 | €3,398 | €2,617 | -€781 | -23.0% |
| Accrued charges and deferred income | 492/3 | - | €1,403 | +€1,403 | |
| Remuneration, social security and pensions | 62 | €130,648 | - | -€130,648 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,167 | €42,041 | +€2,874 | +7.3% |
| Other operating charges | 640/8 | €1,813 | €3,900 | +€2,087 | +115.1% |
| Gross operating margin | 9900 | €376,501 | €160,951 | -€215,549 | -57.3% |
| Operating profit (loss) | 9901 | €204,873 | €115,010 | -€89,863 | -43.9% |
| Financial income | 75/76B | - | €105 | +€105 | |
| Recurring financial income | 75 | - | €105 | +€105 | |
| Financial charges | 65/66B | €36,967 | €35,641 | -€1,326 | -3.6% |
| Recurring financial charges | 65 | €36,967 | €35,641 | -€1,326 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €167,906 | €79,474 | -€88,432 | -52.7% |
| Income taxes | 67/77 | €38,220 | €18,173 | -€20,048 | -52.5% |
| Profit (loss) for the period | 9904 | €129,686 | €61,301 | -€68,384 | -52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €129,686 | €61,301 | -€68,384 | -52.7% |
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 2 October 2026 via checked.be.