BELRUN: 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.
BELRUN
Largest movements
- Financial fixed assets -€21,141
down €21,141 (-19.2%), from €109,938 to €88,797
- Deferred charges and accrued income -€2,772
down €2,772 (-65.7%), from €4,216 to €1,444
- Debts after one year -€47,907
down €47,907 (-29.1%), from €164,387 to €116,479
- Profit (loss) carried forward +€24,068
up €24,068 (+22.1%), from -€109,091 to -€85,023
No income-statement line moved by more than 1% of the activity.
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 | €114,317 | €90,447 | -€23,870 | -20.9% |
| Fixed assets | 21/28 | €109,938 | €88,797 | -€21,141 | -19.2% |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €109,938 | €88,797 | -€21,141 | -19.2% |
| Current assets | 29/58 | €4,379 | €1,650 | -€2,729 | -62.3% |
| Cash at bank and in hand | 54/58 | €163 | €206 | +€43 | +26.6% |
| Deferred charges and accrued income | 490/1 | €4,216 | €1,444 | -€2,772 | -65.7% |
| Total equity and liabilities | 10/49 | €114,317 | €90,447 | -€23,870 | -20.9% |
| Equity | 10/15 | -€51,670 | -€27,602 | +€24,068 | +46.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €38,829 | €38,829 | = | 0.0% |
| Distributable reserves | 133 | €38,829 | €38,829 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€109,091 | -€85,023 | +€24,068 | +22.1% |
| Amounts payable | 17/49 | €165,987 | €118,049 | -€47,938 | -28.9% |
| Amounts payable after more than one year | 17 | €164,387 | €116,479 | -€47,907 | -29.1% |
| Financial debts | 170/4 | €164,387 | €116,479 | -€47,907 | -29.1% |
| Amounts payable within one year | 42/48 | €1,352 | €1,570 | +€218 | +16.1% |
| Trade debts | 44 | - | €218 | +€218 | |
| Suppliers | 440/4 | - | €218 | +€218 | |
| Other amounts payable | 47/48 | €1,352 | €1,352 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €248 | - | -€248 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €23,126 | €23,203 | +€77 | +0.3% |
| Operating profit (loss) | 9901 | €22,738 | €22,803 | +€64 | +0.3% |
| Financial income | 75/76B | €1,349 | €1,444 | +€96 | +7.1% |
| Recurring financial income | 75 | €1,349 | €1,444 | +€96 | +7.1% |
| Financial charges | 65/66B | €225 | €179 | -€45 | -20.2% |
| Recurring financial charges | 65 | €225 | €179 | -€45 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €23,862 | €24,068 | +€206 | +0.9% |
| Profit (loss) for the period | 9904 | €23,862 | €24,068 | +€206 | +0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,862 | €24,068 | +€206 | +0.9% |
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 3 October 2026 via checked.be.