BELOR HOLDING: 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.
BELOR HOLDING
Largest movements
- Receivables within one year -€1.5m
down €1.5m (-74.9%), from €2.0m to €504,594
of which Other amounts receivable: -€1.5m
- Cash +€29,221
up €29,221 (+4,071%), from €718 to €29,939
mainly Receivables within one year (+€1.5m) and Debts after one year (+€650,000)
- Other debts -€1.6m
down €1.6m (-99.9%), from €1.6m to €2,009
- Debts after one year +€650,000
new in 2026: €650,000
- Short-term financial debts -€592,271
no longer reported in 2026 (was €592,271)
- Profit (loss) carried forward +€37,118
up €37,118 (+6.7%), from -€555,575 to -€518,458
- Financial income -€32,910
down €32,910 (-19.6%), from €167,615 to €134,706
- Financial charges -€27,718
down €27,718 (-23.4%), from €118,202 to €90,483
- Other operating charges -€17,702
no longer reported in 2026 (was €17,702)
- Gross operating margin -€2,740
down €2,740 (-62.8%), from -€4,364 to -€7,105
- Taxes -€1,594
no longer reported in 2026 (was €1,594)
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,013,736 | €544,779 | -€1.5m | -72.9% |
| Current assets | 29/58 | €2,013,736 | €544,779 | -€1.5m | -72.9% |
| Amounts receivable within one year | 40/41 | €2,007,772 | €504,594 | -€1.5m | -74.9% |
| Trade receivables | 40 | €3,435 | - | -€3,435 | |
| Other amounts receivable | 41 | €2,004,337 | €504,594 | -€1.5m | -74.8% |
| Cash at bank and in hand | 54/58 | €718 | €29,939 | +€29,221 | +4,071% |
| Deferred charges and accrued income | 490/1 | €5,247 | €10,247 | +€5,000 | +95.3% |
| Total equity and liabilities | 10/49 | €2,013,736 | €544,779 | -€1.5m | -72.9% |
| Equity | 10/15 | -€144,375 | -€107,258 | +€37,118 | +25.7% |
| Contributions | 10/11 | €411,200 | €411,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€555,575 | -€518,458 | +€37,118 | +6.7% |
| Amounts payable | 17/49 | €2,158,112 | €652,036 | -€1.5m | -69.8% |
| Amounts payable after more than one year | 17 | - | €650,000 | +€650,000 | |
| Financial debts | 170/4 | - | €650,000 | +€650,000 | |
| Amounts payable within one year | 42/48 | €2,158,112 | €2,036 | -€2.2m | -99.9% |
| Financial debts | 43 | €592,271 | - | -€592,271 | |
| Credit institutions | 430/8 | €592,271 | - | -€592,271 | |
| Trade debts | 44 | €1,419 | €28 | -€1,391 | -98.1% |
| Suppliers | 440/4 | €1,419 | €28 | -€1,391 | -98.1% |
| Taxes, remuneration and social security | 45 | €652 | - | -€652 | |
| Taxes | 450/3 | €652 | - | -€652 | |
| Other amounts payable | 47/48 | €1,563,770 | €2,009 | -€1.6m | -99.9% |
| Non-recurring operating income | 76A | €4,775 | - | -€4,775 | |
| Other operating charges | 640/8 | €17,702 | - | -€17,702 | |
| Non-recurring operating charges | 66A | €1,580 | - | -€1,580 | |
| Gross operating margin | 9900 | -€4,364 | -€7,105 | -€2,740 | -62.8% |
| Operating profit (loss) | 9901 | -€23,646 | -€7,105 | +€16,541 | +70.0% |
| Financial income | 75/76B | €167,615 | €134,706 | -€32,910 | -19.6% |
| Recurring financial income | 75 | €167,615 | €134,706 | -€32,910 | -19.6% |
| Financial charges | 65/66B | €118,202 | €90,483 | -€27,718 | -23.4% |
| Recurring financial charges | 65 | €118,202 | €90,483 | -€27,718 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | €25,768 | €37,118 | +€11,350 | +44.0% |
| Income taxes | 67/77 | €1,594 | - | -€1,594 | |
| Profit (loss) for the period | 9904 | €24,174 | €37,118 | +€12,944 | +53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,174 | €37,118 | +€12,944 | +53.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.