Belsize: 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.
Belsize
Largest movements
- Cash -€20,152
down €20,152 (-11.0%), from €183,611 to €163,459
mainly Contributions, distributions and other (-€34,887) and Receivables within one year (-€17,415)
- Receivables within one year +€17,415
up €17,415 (+1908.1%), from €913 to €18,327
of which Trade receivables: +€17,453
- Tax, wage and social debts -€4,782
down €4,782 (-30.2%), from €15,848 to €11,067
of which Remuneration and social security: -€6,911
- Other debts +€2,450
up €2,450 (+275.4%), from €889 to €3,339
- Gross operating margin +€17,734
up €17,734 (+51.1%), from €34,730 to €52,464
- Taxes +€5,146
up €5,146 (+50.5%), from €10,196 to €15,342
- Financial income -€780
down €780 (-96.1%), from €811 to €32
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 | €191,338 | €186,790 | -€4,548 | -2.4% |
| Fixed assets | 21/28 | €6,814 | €5,003 | -€1,811 | -26.6% |
| Tangible fixed assets | 22/27 | €5,014 | €3,203 | -€1,811 | -36.1% |
| Furniture and vehicles | 24 | €5,014 | €3,203 | -€1,811 | -36.1% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €184,523 | €181,786 | -€2,737 | -1.5% |
| Amounts receivable within one year | 40/41 | €913 | €18,327 | +€17,415 | +1908.1% |
| Trade receivables | 40 | €874 | €18,327 | +€17,453 | +1996.8% |
| Other amounts receivable | 41 | €39 | - | -€39 | |
| Cash at bank and in hand | 54/58 | €183,611 | €163,459 | -€20,152 | -11.0% |
| Total equity and liabilities | 10/49 | €191,338 | €186,790 | -€4,548 | -2.4% |
| Equity | 10/15 | €172,994 | €172,265 | -€729 | -0.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €160,594 | €159,865 | -€729 | -0.5% |
| Distributable reserves | 133 | €160,594 | €159,865 | -€729 | -0.5% |
| Amounts payable | 17/49 | €18,344 | €14,525 | -€3,819 | -20.8% |
| Amounts payable within one year | 42/48 | €18,344 | €14,525 | -€3,819 | -20.8% |
| Trade debts | 44 | €1,606 | €119 | -€1,487 | -92.6% |
| Suppliers | 440/4 | €1,606 | €119 | -€1,487 | -92.6% |
| Taxes, remuneration and social security | 45 | €15,848 | €11,067 | -€4,782 | -30.2% |
| Taxes | 450/3 | €6,658 | €8,787 | +€2,130 | +32.0% |
| Remuneration and social security | 454/9 | €9,191 | €2,279 | -€6,911 | -75.2% |
| Other amounts payable | 47/48 | €889 | €3,339 | +€2,450 | +275.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,008 | €1,811 | -€197 | -9.8% |
| Other operating charges | 640/8 | €1,282 | €1,051 | -€231 | -18.0% |
| Gross operating margin | 9900 | €34,730 | €52,464 | +€17,734 | +51.1% |
| Operating profit (loss) | 9901 | €31,441 | €49,602 | +€18,161 | +57.8% |
| Financial income | 75/76B | €811 | €32 | -€780 | -96.1% |
| Recurring financial income | 75 | €811 | €32 | -€780 | -96.1% |
| Financial charges | 65/66B | €158 | €134 | -€24 | -15.3% |
| Recurring financial charges | 65 | €158 | €134 | -€24 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €32,094 | €49,500 | +€17,406 | +54.2% |
| Income taxes | 67/77 | €10,196 | €15,342 | +€5,146 | +50.5% |
| Profit (loss) for the period | 9904 | €21,898 | €34,158 | +€12,260 | +56.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,898 | €34,158 | +€12,260 | +56.0% |
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 7 October 2026 via checked.be.