BELPARFI: 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.
What changed
BELPARFI
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.1m
2024 · €1.9m+€204,620
Equity
€37.4m
2024 · €35.3m+€2.1m
Cash
€503,632
2024 · €230,594+€273,038
Balance sheet total
€39.8m
2024 · €43.8m-€4.0m
Largest movements
Assets
- Financial fixed assets -€16.4m
down €16.4m (-67.3%), from €24.3m to €7.9m
- Receivables within one year +€11.9m
up €11.9m (+9,867%), from €120,334 to €12.0m
of which Other amounts receivable: +€11.5m
- Current investments -€1.0m
down €1.0m (-100%), from €1.0m to €0
- Tangible fixed assets +€921,802
up €921,802 (+5.5%), from €16.8m to €17.7m
of which Land and buildings: +€2.0m
Equity and liabilities
- Debts after one year -€3.8m
down €3.8m (-84.3%), from €4.5m to €710,490
of which Financial debts: -€3.8m
- Profit (loss) carried forward +€2.2m
up €2.2m (+23.9%), from €9.3m to €11.6m
- Current portion of long-term debt -€1.1m
down €1.1m (-71.5%), from €1.6m to €450,000
- Other debts -€1.0m
down €1.0m (-99.9%), from €1.1m to €542
Income statement
- Gross operating margin -€1.0m
down €1.0m (-24.1%), from €4.3m to €3.3m
- Financial income +€922,534
up €922,534 (+698%), from €132,253 to €1.1m
of which Non-recurring financial income: +€942,609
- Taxes -€193,489
down €193,489 (-30.4%), from €636,489 to €442,999
- Depreciation -€101,759
down €101,759 (-12.1%), from €844,166 to €742,407
- Financial charges -€84,928
down €84,928 (-40.1%), from €211,995 to €127,067
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.
Result 2024
€1.9m
Gross operating margin
-€1.0m
Staff costs
+€28,352
Depreciation
+€101,759
Other operating charges
-€35,138
Other operating items
-€105,797
Financial income
+€922,534
Financial charges
+€84,928
Taxes
+€193,489
Deferred taxes and other
+€45,107
Result 2025
€2.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€10.5m
Investment
+€15.7m
Financing
-€5.0m
Cash 2024
€230,594
From operations (derived)
-€10.5m
Net result for the year
+€2.1m
Depreciation
+€742,407
Receivables after one year
-€235,000
Receivables within one year
-€11.9m
Deferred charges and accrued income
-€41,821
Provisions
-€43,360
Smaller working-capital items
+€7,504
Tax, wage and social debts
-€68,677
Other debts
-€1.0m
Investment (derived)
+€15.7m
Investment in fixed assets (net)
+€14.7m
Current investments
+€1.0m
Financing
-€5.0m
Debts after one year
-€3.8m
Current portion of long-term debt
-€1.1m
Cash 2025
€503,632
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,761,638 | €39,756,059 | -€4.0m | -9.2% |
| Fixed assets | 21/28 | €41,080,080 | €25,651,337 | -€15.4m | -37.6% |
| Tangible fixed assets | 22/27 | €16,786,860 | €17,708,662 | +€921,802 | +5.5% |
| Land and buildings | 22 | €15,005,444 | €16,986,627 | +€2.0m | +13.2% |
| Plant, machinery and equipment | 23 | €14,184 | €9,711 | -€4,472 | -31.5% |
| Furniture and vehicles | 24 | €130,298 | €239,546 | +€109,248 | +83.8% |
| Other tangible fixed assets | 26 | €1,636,934 | €472,778 | -€1.2m | -71.1% |
| Financial fixed assets | 28 | €24,293,220 | €7,942,674 | -€16.4m | -67.3% |
| Current assets | 29/58 | €2,681,558 | €14,104,723 | +€11.4m | +426% |
| Amounts receivable after more than one year | 29 | €1,265,000 | €1,500,000 | +€235,000 | +18.6% |
| Trade receivables | 290 | €1,265,000 | €1,500,000 | +€235,000 | +18.6% |
| Amounts receivable within one year | 40/41 | €120,334 | €11,993,639 | +€11.9m | +9,867% |
| Trade receivables | 40 | €68,182 | €438,222 | +€370,040 | +543% |
| Other amounts receivable | 41 | €52,152 | €11,555,417 | +€11.5m | +22,057% |
| Current investments | 50/53 | €1,000,000 | €0 | -€1.0m | -100% |
| Cash at bank and in hand | 54/58 | €230,594 | €503,632 | +€273,038 | +118% |
| Deferred charges and accrued income | 490/1 | €65,630 | €107,452 | +€41,821 | +63.7% |
| Total equity and liabilities | 10/49 | €43,761,638 | €39,756,059 | -€4.0m | -9.2% |
| Equity | 10/15 | €35,281,528 | €37,384,315 | +€2.1m | +6.0% |
| Contributions | 10/11 | €8,658,500 | €8,658,500 | = | 0.0% |
| Capital | 10 | €5,262,855 | €5,262,855 | = | 0.0% |
| Issued capital | 100 | €5,262,855 | €5,262,855 | = | 0.0% |
| Contributions outside capital | 11 | €3,395,645 | €3,395,645 | = | 0.0% |
| Share premium | 1100/10 | €3,395,645 | €3,395,645 | = | 0.0% |
| Reserves | 13 | €17,273,255 | €17,143,176 | -€130,079 | -0.8% |
| Non-distributable reserves | 130/1 | €855,850 | €855,850 | = | 0.0% |
| Legal reserve | 130 | €855,850 | €855,850 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,527,605 | €15,397,526 | -€130,079 | -0.8% |
| Distributable reserves | 133 | €889,800 | €889,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,349,774 | €11,582,639 | +€2.2m | +23.9% |
| Provisions and deferred taxes | 16 | €774,439 | €731,079 | -€43,360 | -5.6% |
| Deferred taxes | 168 | €774,439 | €731,079 | -€43,360 | -5.6% |
| Amounts payable | 17/49 | €7,705,671 | €1,640,665 | -€6.1m | -78.7% |
| Amounts payable after more than one year | 17 | €4,536,740 | €710,490 | -€3.8m | -84.3% |
| Financial debts | 170/4 | €4,118,750 | €300,000 | -€3.8m | -92.7% |
| Other amounts payable | 178/9 | €417,990 | €410,490 | -€7,500 | -1.8% |
| Amounts payable within one year | 42/48 | €3,144,103 | €879,417 | -€2.3m | -72.0% |
| Current portion of amounts payable after more than one year | 42 | €1,578,125 | €450,000 | -€1.1m | -71.5% |
| Trade debts | 44 | €213,514 | €195,089 | -€18,425 | -8.6% |
| Suppliers | 440/4 | €213,514 | €195,089 | -€18,425 | -8.6% |
| Taxes, remuneration and social security | 45 | €302,464 | €233,786 | -€68,677 | -22.7% |
| Taxes | 450/3 | €222,572 | €153,850 | -€68,721 | -30.9% |
| Remuneration and social security | 454/9 | €79,892 | €79,936 | +€44 | +0.1% |
| Other amounts payable | 47/48 | €1,050,000 | €542 | -€1.0m | -99.9% |
| Accrued charges and deferred income | 492/3 | €24,829 | €50,758 | +€25,929 | +104% |
| Non-recurring operating income | 76A | €236,377 | €1,405 | -€234,972 | -99.4% |
| Remuneration, social security and pensions | 62 | €659,205 | €630,853 | -€28,352 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €844,166 | €742,407 | -€101,759 | -12.1% |
| Other operating charges | 640/8 | €164,846 | €199,983 | +€35,138 | +21.3% |
| Non-recurring operating charges | 66A | - | €105,797 | +€105,797 | |
| Gross operating margin | 9900 | €4,284,362 | €3,253,747 | -€1.0m | -24.1% |
| Operating profit (loss) | 9901 | €2,616,145 | €1,574,707 | -€1.0m | -39.8% |
| Financial income | 75/76B | €132,253 | €1,054,787 | +€922,534 | +698% |
| Recurring financial income | 75 | €132,253 | €112,178 | -€20,075 | -15.2% |
| Non-recurring financial income | 76B | - | €942,609 | +€942,609 | |
| Financial charges | 65/66B | €211,995 | €127,067 | -€84,928 | -40.1% |
| Recurring financial charges | 65 | €211,995 | €127,067 | -€84,928 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €2,536,403 | €2,502,427 | -€33,977 | -1.3% |
| Transfer from deferred taxes | 780 | €44,249 | €43,360 | -€889 | -2.0% |
| Transfer to deferred taxes | 680 | €45,997 | €0 | -€45,997 | -100% |
| Income taxes | 67/77 | €636,489 | €442,999 | -€193,489 | -30.4% |
| Profit (loss) for the period | 9904 | €1,898,167 | €2,102,787 | +€204,620 | +10.8% |
| Transfer from tax-exempt reserves | 789 | €132,747 | €130,079 | -€2,668 | -2.0% |
| Transfer to tax-exempt reserves | 689 | €137,990 | €0 | -€137,990 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €1,892,924 | €2,232,866 | +€339,942 | +18.0% |
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 15 October 2026 via checked.be.