BELTRIMMO: 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.
BELTRIMMO
Largest movements
- Current investments +€148,147
new in 2025: €148,147
- Tangible fixed assets -€125,843
down €125,843 (-4.8%), from €2.6m to €2.5m
of which Land and buildings: -€108,408
- Cash -€30,192
down €30,192 (-17.4%), from €173,932 to €143,740
mainly Contributions, distributions and other (-€635,000) and Current investments (-€148,147)
- Other debts +€660,506
up €660,506 (+64.2%), from €1.0m to €1.7m
- Reserves -€574,682
down €574,682 (-41.8%), from €1.4m to €800,558
of which Distributable reserves: -€526,000
- Debts after one year -€68,539
down €68,539 (-33.0%), from €207,626 to €139,087
- Financial income -€15,979
down €15,979 (-61.8%), from €25,853 to €9,874
- Financial charges -€12,345
down €12,345 (-18.9%), from €65,254 to €52,909
- Taxes -€4,038
down €4,038 (-11.2%), from €36,122 to €32,084
- Gross operating margin -€3,753
down €3,753 (-1.3%), from €287,453 to €283,700
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,806,051 | €2,798,016 | -€8,035 | -0.3% |
| Fixed assets | 21/28 | €2,629,906 | €2,504,062 | -€125,843 | -4.8% |
| Tangible fixed assets | 22/27 | €2,629,906 | €2,504,062 | -€125,843 | -4.8% |
| Land and buildings | 22 | €2,313,690 | €2,205,282 | -€108,408 | -4.7% |
| Furniture and vehicles | 24 | €634 | €362 | -€273 | -43.0% |
| Other tangible fixed assets | 26 | €315,581 | €298,418 | -€17,163 | -5.4% |
| Current assets | 29/58 | €176,146 | €293,954 | +€117,808 | +66.9% |
| Amounts receivable within one year | 40/41 | €2,133 | €1,989 | -€144 | -6.8% |
| Trade receivables | 40 | €1,898 | €1,989 | +€91 | +4.8% |
| Other amounts receivable | 41 | €235 | - | -€235 | |
| Current investments | 50/53 | - | €148,147 | +€148,147 | |
| Cash at bank and in hand | 54/58 | €173,932 | €143,740 | -€30,192 | -17.4% |
| Deferred charges and accrued income | 490/1 | €81 | €77 | -€3 | -4.1% |
| Total equity and liabilities | 10/49 | €2,806,051 | €2,798,016 | -€8,035 | -0.3% |
| Equity | 10/15 | €1,404,154 | €821,172 | -€582,982 | -41.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,375,240 | €800,558 | -€574,682 | -41.8% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Other | 1319 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €181,527 | €132,845 | -€48,682 | -26.8% |
| Distributable reserves | 133 | €1,191,713 | €665,713 | -€526,000 | -44.1% |
| Profit (loss) carried forward | 14 | €8,914 | €614 | -€8,299 | -93.1% |
| Amounts payable | 17/49 | €1,401,898 | €1,976,844 | +€574,946 | +41.0% |
| Amounts payable after more than one year | 17 | €207,626 | €139,087 | -€68,539 | -33.0% |
| Financial debts | 170/4 | €207,626 | €139,087 | -€68,539 | -33.0% |
| Amounts payable within one year | 42/48 | €1,129,133 | €1,782,485 | +€653,352 | +57.9% |
| Current portion of amounts payable after more than one year | 42 | €82,411 | €68,539 | -€13,873 | -16.8% |
| Financial debts | 43 | €5,083 | - | -€5,083 | |
| Credit institutions | 430/8 | €5,083 | - | -€5,083 | |
| Trade debts | 44 | €3,693 | €5,881 | +€2,188 | +59.3% |
| Suppliers | 440/4 | €3,693 | €5,881 | +€2,188 | +59.3% |
| Taxes, remuneration and social security | 45 | €9,280 | €18,894 | +€9,614 | +104% |
| Taxes | 450/3 | €9,280 | €18,894 | +€9,614 | +104% |
| Other amounts payable | 47/48 | €1,028,665 | €1,689,172 | +€660,506 | +64.2% |
| Accrued charges and deferred income | 492/3 | €65,139 | €55,272 | -€9,867 | -15.1% |
| Non-recurring operating income | 76A | €310 | - | -€310 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,682 | €142,350 | +€668 | +0.5% |
| Other operating charges | 640/8 | €13,811 | €14,213 | +€401 | +2.9% |
| Gross operating margin | 9900 | €287,453 | €283,700 | -€3,753 | -1.3% |
| Operating profit (loss) | 9901 | €131,960 | €127,137 | -€4,823 | -3.7% |
| Financial income | 75/76B | €25,853 | €9,874 | -€15,979 | -61.8% |
| Recurring financial income | 75 | €25,853 | €9,874 | -€15,979 | -61.8% |
| Financial charges | 65/66B | €65,254 | €52,909 | -€12,345 | -18.9% |
| Recurring financial charges | 65 | €65,254 | €52,909 | -€12,345 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €92,559 | €84,102 | -€8,457 | -9.1% |
| Income taxes | 67/77 | €36,122 | €32,084 | -€4,038 | -11.2% |
| Profit (loss) for the period | 9904 | €56,437 | €52,018 | -€4,419 | -7.8% |
| Transfer from tax-exempt reserves | 789 | €3,713 | €48,682 | +€44,969 | +1,211% |
| Profit (loss) for the period to be appropriated | 9905 | €60,150 | €100,701 | +€40,550 | +67.4% |
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 24 October 2026 via checked.be.