Belumed: what changed
Belumed
Largest movements
- Cash +€68,904
up €68,904 (+138%), from €50,019 to €118,923
mainly Net result for the year (+€67,659) and Depreciation (+€29,115)
- Tangible fixed assets -€29,115
down €29,115 (-6.7%), from €434,915 to €405,800
of which Land and buildings: -€17,803
- Receivables within one year -€15,424
down €15,424 (-92.5%), from €16,674 to €1,250
of which Other amounts receivable: -€14,500
- Current investments -€11,259
down €11,259 (-3.1%), from €364,091 to €352,832
- Reserves +€67,000
up €67,000 (+15.9%), from €420,962 to €487,962
of which Distributable reserves: +€67,000
- Tax, wage and social debts -€42,112
down €42,112 (-57.7%), from €73,030 to €30,918
- Gross operating margin +€16,509
up €16,509 (+14.7%), from €112,200 to €128,709
- Financial income -€8,255
down €8,255 (-65.5%), from €12,609 to €4,354
- Depreciation +€7,531
up €7,531 (+34.9%), from €21,584 to €29,115
- Other operating charges -€4,394
down €4,394 (-44.9%), from €9,785 to €5,392
- Taxes +€1,289
up €1,289 (+4.6%), from €28,321 to €29,610
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €865,699 | €878,805 | +€13,106 | +1.5% |
| Fixed assets | 21/28 | €434,915 | €405,800 | -€29,115 | -6.7% |
| Tangible fixed assets | 22/27 | €434,915 | €405,800 | -€29,115 | -6.7% |
| Land and buildings | 22 | €381,895 | €364,092 | -€17,803 | -4.7% |
| Furniture and vehicles | 24 | €53,020 | €41,709 | -€11,312 | -21.3% |
| Current assets | 29/58 | €430,784 | €473,005 | +€42,221 | +9.8% |
| Amounts receivable within one year | 40/41 | €16,674 | €1,250 | -€15,424 | -92.5% |
| Trade receivables | 40 | €924 | - | -€924 | |
| Other amounts receivable | 41 | €15,750 | €1,250 | -€14,500 | -92.1% |
| Current investments | 50/53 | €364,091 | €352,832 | -€11,259 | -3.1% |
| Cash at bank and in hand | 54/58 | €50,019 | €118,923 | +€68,904 | +138% |
| Total equity and liabilities | 10/49 | €865,699 | €878,805 | +€13,106 | +1.5% |
| Equity | 10/15 | €695,789 | €763,449 | +€67,659 | +9.7% |
| Contributions | 10/11 | €273,592 | €273,592 | = | 0.0% |
| Reserves | 13 | €420,962 | €487,962 | +€67,000 | +15.9% |
| Non-distributable reserves | 130/1 | €11,482 | €11,482 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,482 | €11,482 | = | 0.0% |
| Tax-exempt reserves | 132 | €58,181 | €58,181 | = | 0.0% |
| Distributable reserves | 133 | €351,299 | €418,299 | +€67,000 | +19.1% |
| Profit (loss) carried forward | 14 | €1,236 | €1,895 | +€659 | +53.4% |
| Provisions and deferred taxes | 16 | €17,280 | €17,280 | = | 0.0% |
| Deferred taxes | 168 | €17,280 | €17,280 | = | 0.0% |
| Amounts payable | 17/49 | €152,630 | €98,077 | -€54,554 | -35.7% |
| Amounts payable after more than one year | 17 | €24,302 | €16,399 | -€7,902 | -32.5% |
| Financial debts | 170/4 | €24,302 | €16,399 | -€7,902 | -32.5% |
| Amounts payable within one year | 42/48 | €93,440 | €46,789 | -€46,651 | -49.9% |
| Current portion of amounts payable after more than one year | 42 | €9,888 | €8,432 | -€1,456 | -14.7% |
| Trade debts | 44 | €5,772 | €5,082 | -€690 | -12.0% |
| Suppliers | 440/4 | €5,772 | €5,082 | -€690 | -12.0% |
| Taxes, remuneration and social security | 45 | €73,030 | €30,918 | -€42,112 | -57.7% |
| Taxes | 450/3 | €73,030 | €30,918 | -€42,112 | -57.7% |
| Other amounts payable | 47/48 | €4,750 | €2,357 | -€2,392 | -50.4% |
| Accrued charges and deferred income | 492/3 | €34,889 | €34,889 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,584 | €29,115 | +€7,531 | +34.9% |
| Other operating charges | 640/8 | €9,785 | €5,392 | -€4,394 | -44.9% |
| Gross operating margin | 9900 | €112,200 | €128,709 | +€16,509 | +14.7% |
| Operating profit (loss) | 9901 | €80,830 | €94,203 | +€13,372 | +16.5% |
| Financial income | 75/76B | €12,609 | €4,354 | -€8,255 | -65.5% |
| Recurring financial income | 75 | €12,609 | €4,354 | -€8,255 | -65.5% |
| Financial charges | 65/66B | €995 | €1,287 | +€292 | +29.4% |
| Recurring financial charges | 65 | €995 | €1,287 | +€292 | +29.4% |
| Profit (loss) for the period before taxes | 9903 | €92,444 | €97,269 | +€4,825 | +5.2% |
| Income taxes | 67/77 | €28,321 | €29,610 | +€1,289 | +4.6% |
| Profit (loss) for the period | 9904 | €64,123 | €67,659 | +€3,537 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €64,123 | €67,659 | +€3,537 | +5.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.