BELSSAS: 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.
BELSSAS
Largest movements
- Cash +€68,254
up €68,254 (+2556.3%), from €2,670 to €70,924
mainly Net result for the year (+€64,545) and Depreciation (+€21,283)
- Tangible fixed assets -€18,136
down €18,136 (-22.5%), from €80,557 to €62,421
of which Leasing and similar rights: -€15,431
- Receivables within one year +€8,506
up €8,506 (+12.5%), from €67,954 to €76,460
of which Other amounts receivable: +€12,179
- Profit (loss) carried forward +€87,546
up €87,546, from -€87,050 to €496
- Reserves -€33,000
down €33,000 (-19.1%), from €172,815 to €139,815
of which Distributable reserves: -€33,000
- Debts after one year -€27,805
down €27,805 (-45.7%), from €60,801 to €32,996
- Current portion of long-term debt +€13,903
new in 2025: €13,903
- Other debts +€13,614
new in 2025: €13,614
- Gross operating margin +€161,909
up €161,909, from -€65,276 to €96,633
- Purchases and services -€88,667
no longer reported in 2025 (was €88,667)
- Taxes +€8,114
up €8,114, from -€1,196 to €6,918
- Other operating charges -€7,349
down €7,349 (-70.3%), from €10,456 to €3,107
- Depreciation +€7,198
up €7,198 (+51.1%), from €14,085 to €21,283
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 | €153,432 | €213,863 | +€60,431 | +39.4% |
| Fixed assets | 21/28 | €80,557 | €62,421 | -€18,136 | -22.5% |
| Tangible fixed assets | 22/27 | €80,557 | €62,421 | -€18,136 | -22.5% |
| Furniture and vehicles | 24 | €11,115 | €8,410 | -€2,705 | -24.3% |
| Leasing and similar rights | 25 | €69,442 | €54,011 | -€15,431 | -22.2% |
| Current assets | 29/58 | €72,875 | €151,442 | +€78,567 | +107.8% |
| Amounts receivable within one year | 40/41 | €67,954 | €76,460 | +€8,506 | +12.5% |
| Trade receivables | 40 | €13,673 | €10,000 | -€3,673 | -26.9% |
| Other amounts receivable | 41 | €54,281 | €66,460 | +€12,179 | +22.4% |
| Cash at bank and in hand | 54/58 | €2,670 | €70,924 | +€68,254 | +2556.3% |
| Deferred charges and accrued income | 490/1 | €2,251 | €4,059 | +€1,808 | +80.3% |
| Total equity and liabilities | 10/49 | €153,432 | €213,863 | +€60,431 | +39.4% |
| Equity | 10/15 | €92,065 | €146,611 | +€54,546 | +59.2% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Outside capital | 11 | €6,300 | - | -€6,300 | |
| Other | 1109/19 | €6,300 | - | -€6,300 | |
| Reserves | 13 | €172,815 | €139,815 | -€33,000 | -19.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €170,955 | €137,955 | -€33,000 | -19.3% |
| Profit (loss) carried forward | 14 | -€87,050 | €496 | +€87,546 | |
| Amounts payable | 17/49 | €61,367 | €67,252 | +€5,885 | +9.6% |
| Amounts payable after more than one year | 17 | €60,801 | €32,996 | -€27,805 | -45.7% |
| Financial debts | 170/4 | €60,801 | €32,996 | -€27,805 | -45.7% |
| Amounts payable within one year | 42/48 | €566 | €34,256 | +€33,690 | +5952.3% |
| Current portion of amounts payable after more than one year | 42 | - | €13,903 | +€13,903 | |
| Trade debts | 44 | €153 | - | -€153 | |
| Suppliers | 440/4 | €153 | - | -€153 | |
| Taxes, remuneration and social security | 45 | €413 | €6,739 | +€6,326 | +1531.8% |
| Taxes | 450/3 | €413 | €6,739 | +€6,326 | +1531.8% |
| Other amounts payable | 47/48 | - | €13,614 | +€13,614 | |
| Non-recurring operating income | 76A | €9,900 | €89 | -€9,811 | -99.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €88,667 | - | -€88,667 | |
| Remuneration, social security and pensions | 62 | - | €525 | +€525 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,085 | €21,283 | +€7,198 | +51.1% |
| Other operating charges | 640/8 | €10,456 | €3,107 | -€7,349 | -70.3% |
| Gross operating margin | 9900 | -€65,276 | €96,633 | +€161,909 | |
| Operating profit (loss) | 9901 | -€89,817 | €71,719 | +€161,536 | |
| Financial income | 75/76B | €3,177 | €1,951 | -€1,226 | -38.6% |
| Recurring financial income | 75 | €3,177 | €1,951 | -€1,226 | -38.6% |
| Financial charges | 65/66B | €1,690 | €2,206 | +€516 | +30.5% |
| Recurring financial charges | 65 | €1,690 | €2,206 | +€516 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | -€88,330 | €71,464 | +€159,794 | |
| Income taxes | 67/77 | -€1,196 | €6,918 | +€8,114 | |
| Profit (loss) for the period | 9904 | -€87,134 | €64,545 | +€151,679 | |
| Profit (loss) for the period to be appropriated | 9905 | -€87,134 | €64,545 | +€151,679 |
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 8 October 2026 via checked.be.