BELORION: 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.
BELORION
Largest movements
- Cash +€45,875
up €45,875 (+86.6%), from €52,955 to €98,830
mainly Net result for the year (+€97,620) and Tax, wage and social debts (+€26,096)
- Tangible fixed assets +€31,339
up €31,339 (+4,759%), from €658 to €31,998
of which Land and buildings: +€27,500
- Profit (loss) carried forward +€97,620
new in 2025: €97,620
- Other debts -€50,355
down €50,355 (-93.3%), from €53,999 to €3,644
- Tax, wage and social debts +€26,096
up €26,096 (+70.5%), from €37,003 to €63,099
- Reserves +€4,657
up €4,657 (+4.2%), from €110,792 to €115,449
- Gross operating margin +€42,439
up €42,439 (+45.4%), from €93,444 to €135,883
- Taxes +€13,872
up €13,872 (+74.5%), from €18,633 to €32,505
- Other operating charges +€2,906
up €2,906 (+1,598%), from €182 to €3,088
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 | €208,563 | €286,811 | +€78,248 | +37.5% |
| Fixed assets | 21/28 | €138,158 | €169,498 | +€31,339 | +22.7% |
| Tangible fixed assets | 22/27 | €658 | €31,998 | +€31,339 | +4,759% |
| Land and buildings | 22 | - | €27,500 | +€27,500 | |
| Furniture and vehicles | 24 | €658 | €4,498 | +€3,839 | +583% |
| Financial fixed assets | 28 | €137,500 | €137,500 | = | 0.0% |
| Current assets | 29/58 | €70,405 | €117,314 | +€46,909 | +66.6% |
| Amounts receivable within one year | 40/41 | €17,449 | €18,102 | +€652 | +3.7% |
| Trade receivables | 40 | €17,327 | €18,089 | +€762 | +4.4% |
| Other amounts receivable | 41 | €122 | €12 | -€110 | -89.8% |
| Cash at bank and in hand | 54/58 | €52,955 | €98,830 | +€45,875 | +86.6% |
| Deferred charges and accrued income | 490/1 | - | €382 | +€382 | |
| Total equity and liabilities | 10/49 | €208,563 | €286,811 | +€78,248 | +37.5% |
| Equity | 10/15 | €113,792 | €216,068 | +€102,277 | +89.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €110,792 | €115,449 | +€4,657 | +4.2% |
| Distributable reserves | 133 | €110,792 | €115,449 | +€4,657 | +4.2% |
| Profit (loss) carried forward | 14 | - | €97,620 | +€97,620 | |
| Amounts payable | 17/49 | €94,772 | €70,743 | -€24,029 | -25.4% |
| Amounts payable within one year | 42/48 | €91,983 | €68,929 | -€23,055 | -25.1% |
| Financial debts | 43 | €514 | €1,984 | +€1,471 | +286% |
| Credit institutions | 430/8 | €514 | €1,984 | +€1,471 | +286% |
| Trade debts | 44 | €467 | €201 | -€266 | -57.0% |
| Suppliers | 440/4 | €467 | €201 | -€266 | -57.0% |
| Taxes, remuneration and social security | 45 | €37,003 | €63,099 | +€26,096 | +70.5% |
| Taxes | 450/3 | €37,003 | €63,099 | +€26,096 | +70.5% |
| Other amounts payable | 47/48 | €53,999 | €3,644 | -€50,355 | -93.3% |
| Accrued charges and deferred income | 492/3 | €2,788 | €1,814 | -€974 | -34.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €609 | €772 | +€164 | +26.9% |
| Other operating charges | 640/8 | €182 | €3,088 | +€2,906 | +1,598% |
| Gross operating margin | 9900 | €93,444 | €135,883 | +€42,439 | +45.4% |
| Operating profit (loss) | 9901 | €92,653 | €132,023 | +€39,369 | +42.5% |
| Financial charges | 65/66B | €2,909 | €1,898 | -€1,010 | -34.7% |
| Recurring financial charges | 65 | €2,909 | €1,898 | -€1,010 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €89,745 | €130,124 | +€40,380 | +45.0% |
| Income taxes | 67/77 | €18,633 | €32,505 | +€13,872 | +74.5% |
| Profit (loss) for the period | 9904 | €71,112 | €97,620 | +€26,507 | +37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €71,112 | €97,620 | +€26,507 | +37.3% |
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 16 October 2026 via checked.be.