BELORA CONSULTING: 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.
BELORA CONSULTING
Largest movements
- Receivables within one year +€455,664
up €455,664 (+69.0%), from €660,555 to €1.1m
of which Other amounts receivable: +€655,541
- Cash -€100,801
down €100,801 (-91.2%), from €110,483 to €9,681
mainly Receivables within one year (-€455,664) and Debts after one year (-€386,429)
- Reserves +€902,726
up €902,726 (+31.1%), from €2.9m to €3.8m
- Debts after one year -€386,429
down €386,429 (-20.1%), from €1.9m to €1.5m
- Other debts -€190,121
down €190,121 (-56.3%), from €337,613 to €147,492
- Financial income +€303,731
up €303,731 (+84.7%), from €358,540 to €662,271
- Turnover +€32,951
up €32,951 (+7.2%), from €457,502 to €490,453
- Financial charges +€32,580
up €32,580 (+66.7%), from €48,812 to €81,392
- Services and other goods -€4,931
down €4,931 (-5.9%), from €82,963 to €78,032
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 | €6,177,089 | €6,529,883 | +€352,794 | +5.7% |
| Fixed assets | 21/28 | €5,406,051 | €5,403,983 | -€2,068 | 0.0% |
| Tangible fixed assets | 22/27 | €6,151 | €4,083 | -€2,068 | -33.6% |
| Furniture and vehicles | 24 | €6,151 | €4,083 | -€2,068 | -33.6% |
| Financial fixed assets | 28 | €5,399,900 | €5,399,900 | = | 0.0% |
| Affiliated companies | 280/1 | €5,399,900 | €5,399,900 | = | 0.0% |
| Participating interests | 280 | €5,399,900 | €5,399,900 | = | 0.0% |
| Current assets | 29/58 | €771,038 | €1,125,900 | +€354,862 | +46.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €660,555 | €1,116,219 | +€455,664 | +69.0% |
| Trade receivables | 40 | €200,000 | €123 | -€199,877 | -99.9% |
| Other amounts receivable | 41 | €460,555 | €1,116,096 | +€655,541 | +142% |
| Current investments | 50/53 | €0 | - | = | |
| Other investments | 51/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €110,483 | €9,681 | -€100,801 | -91.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €6,177,089 | €6,529,883 | +€352,794 | +5.7% |
| Equity | 10/15 | €3,503,680 | €4,406,405 | +€902,726 | +25.8% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €2,903,680 | €3,806,405 | +€902,726 | +31.1% |
| Distributable reserves | 133 | €2,903,680 | €3,806,405 | +€902,726 | +31.1% |
| Amounts payable | 17/49 | €2,673,409 | €2,123,477 | -€549,932 | -20.6% |
| Amounts payable after more than one year | 17 | €1,918,571 | €1,532,143 | -€386,429 | -20.1% |
| Financial debts | 170/4 | €1,918,571 | €1,532,143 | -€386,429 | -20.1% |
| Subordinated loans | 170 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Credit institutions | 173 | €1,718,571 | €1,432,143 | -€286,429 | -16.7% |
| Amounts payable within one year | 42/48 | €754,838 | €591,335 | -€163,503 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | €386,429 | €386,429 | = | 0.0% |
| Financial debts | 43 | €13,500 | €40,368 | +€26,868 | +199% |
| Credit institutions | 430/8 | €13,500 | €40,368 | +€26,868 | +199% |
| Trade debts | 44 | €159 | €53 | -€106 | -66.5% |
| Suppliers | 440/4 | €159 | €53 | -€106 | -66.5% |
| Taxes, remuneration and social security | 45 | €17,138 | €16,993 | -€145 | -0.8% |
| Taxes | 450/3 | €17,138 | €16,993 | -€145 | -0.8% |
| Other amounts payable | 47/48 | €337,613 | €147,492 | -€190,121 | -56.3% |
| Operating income | 70/76A | €457,502 | €490,453 | +€32,951 | +7.2% |
| Turnover | 70 | €457,502 | €490,453 | +€32,951 | +7.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €86,136 | €81,227 | -€4,909 | -5.7% |
| Services and other goods | 61 | €82,963 | €78,032 | -€4,931 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,068 | €2,068 | = | 0.0% |
| Other operating charges | 640/8 | €1,105 | €1,126 | +€21 | +1.9% |
| Operating profit (loss) | 9901 | €371,366 | €409,226 | +€37,860 | +10.2% |
| Financial income | 75/76B | €358,540 | €662,271 | +€303,731 | +84.7% |
| Recurring financial income | 75 | €358,540 | €662,271 | +€303,731 | +84.7% |
| Income from financial fixed assets | 750 | €344,531 | €645,313 | +€300,781 | +87.3% |
| Income from current assets | 751 | €14,009 | €16,958 | +€2,950 | +21.1% |
| Financial charges | 65/66B | €48,812 | €81,392 | +€32,580 | +66.7% |
| Recurring financial charges | 65 | €48,812 | €81,392 | +€32,580 | +66.7% |
| Debt charges | 650 | €47,789 | €80,656 | +€32,868 | +68.8% |
| Other financial charges | 652/9 | €1,023 | €736 | -€288 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €681,094 | €990,105 | +€309,011 | +45.4% |
| Income taxes | 67/77 | €84,308 | €87,379 | +€3,071 | +3.6% |
| Taxes | 670/3 | €84,308 | €87,379 | +€3,071 | +3.6% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €596,786 | €902,726 | +€305,940 | +51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €596,786 | €902,726 | +€305,940 | +51.3% |
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 25 October 2026 via checked.be.