BELOU: 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.
BELOU
Largest movements
- Cash +€59,365
up €59,365 (+46.5%), from €127,596 to €186,961
mainly Net result for the year (+€199,548) and Receivables within one year (+€22,977)
- Receivables within one year -€22,977
down €22,977 (-34.3%), from €66,998 to €44,021
of which Other amounts receivable: -€24,288
- Tangible fixed assets -€5,772
down €5,772 (-19.0%), from €30,361 to €24,589
of which Furniture and vehicles: -€7,832
- Other debts +€16,924
up €16,924 (+5.8%), from €291,013 to €307,937
- Profit (loss) carried forward +€9,548
up €9,548 (+5.7%), from €167,470 to €177,017
- Tax, wage and social debts +€6,238
up €6,238 (+14.0%), from €44,703 to €50,941
- Gross operating margin -€44,807
down €44,807 (-13.6%), from €330,512 to €285,705
- Taxes -€10,840
down €10,840 (-14.5%), from €74,747 to €63,907
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 | €525,689 | €556,530 | +€30,841 | +5.9% |
| Fixed assets | 21/28 | €30,361 | €24,589 | -€5,772 | -19.0% |
| Tangible fixed assets | 22/27 | €30,361 | €24,589 | -€5,772 | -19.0% |
| Plant, machinery and equipment | 23 | €225 | €2,284 | +€2,060 | +916.6% |
| Furniture and vehicles | 24 | €30,136 | €22,304 | -€7,832 | -26.0% |
| Current assets | 29/58 | €495,328 | €531,941 | +€36,613 | +7.4% |
| Stocks and contracts in progress | 3 | €300,000 | €300,000 | = | 0.0% |
| Stocks | 30/36 | €300,000 | €300,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €66,998 | €44,021 | -€22,977 | -34.3% |
| Trade receivables | 40 | €36,617 | €37,928 | +€1,311 | +3.6% |
| Other amounts receivable | 41 | €30,381 | €6,093 | -€24,288 | -79.9% |
| Cash at bank and in hand | 54/58 | €127,596 | €186,961 | +€59,365 | +46.5% |
| Deferred charges and accrued income | 490/1 | €734 | €959 | +€225 | +30.7% |
| Total equity and liabilities | 10/49 | €525,689 | €556,530 | +€30,841 | +5.9% |
| Equity | 10/15 | €187,930 | €197,477 | +€9,548 | +5.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €167,470 | €177,017 | +€9,548 | +5.7% |
| Amounts payable | 17/49 | €337,759 | €359,053 | +€21,293 | +6.3% |
| Amounts payable within one year | 42/48 | €337,644 | €359,053 | +€21,409 | +6.3% |
| Trade debts | 44 | €1,927 | €174 | -€1,753 | -91.0% |
| Suppliers | 440/4 | €1,927 | €174 | -€1,753 | -91.0% |
| Taxes, remuneration and social security | 45 | €44,703 | €50,941 | +€6,238 | +14.0% |
| Taxes | 450/3 | €44,703 | €50,941 | +€6,238 | +14.0% |
| Other amounts payable | 47/48 | €291,013 | €307,937 | +€16,924 | +5.8% |
| Accrued charges and deferred income | 492/3 | €115 | - | -€115 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,312 | €9,273 | -€39 | -0.4% |
| Other operating charges | 640/8 | €2,443 | €2,315 | -€129 | -5.3% |
| Gross operating margin | 9900 | €330,512 | €285,705 | -€44,807 | -13.6% |
| Operating profit (loss) | 9901 | €318,757 | €274,117 | -€44,639 | -14.0% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €12,432 | €10,664 | -€1,769 | -14.2% |
| Recurring financial charges | 65 | €12,432 | €10,664 | -€1,769 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €306,324 | €263,454 | -€42,870 | -14.0% |
| Income taxes | 67/77 | €74,747 | €63,907 | -€10,840 | -14.5% |
| Profit (loss) for the period | 9904 | €231,578 | €199,548 | -€32,030 | -13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €231,578 | €199,548 | -€32,030 | -13.8% |
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 4 October 2026 via checked.be.