BELURIA: what changed
What changed
BELURIA
filed annual accounts (NBB)
Net result for the year
-€399,570
2024 · -€280,581-€118,989
Equity
€470,855
2024 · €870,425-€399,570
Cash
€16,485
2024 · €9,547+€6,938
Balance sheet total
€6.5m
2024 · €6.9m-€395,809
Largest movements
Assets
- Receivables within one year -€339,066
down €339,066 (-6.1%), from €5.6m to €5.3m
of which Other amounts receivable: -€355,288
Equity and liabilities
- Profit (loss) carried forward -€399,570
down €399,570 (-53.6%), from -€745,774 to -€1.1m
Income statement
- Gross operating margin -€185,649
down €185,649 (-145%), from -€127,959 to -€313,609
- Financial charges -€84,571
down €84,571 (-27.0%), from €312,944 to €228,373
- Financial income -€20,312
down €20,312 (-8.2%), from €246,640 to €226,328
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.
Result 2024
-€280,581
Gross operating margin
-€185,649
Depreciation
+€2,557
Other operating charges
-€155
Financial income
-€20,312
Financial charges
+€84,571
Result 2025
-€399,570
raises the resultlowers the result
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.
From operations
+€21,875
Investment
-€14,938
Financing
€0
Cash 2024
€9,547
From operations (derived)
+€21,875
Net result for the year
-€399,570
Depreciation
+€78,805
Receivables within one year
+€339,066
Deferred charges and accrued income
-€187
Trade debts
-€20,741
Accrued charges and deferred income
+€24,501
Investment (derived)
-€14,938
Investment in fixed assets (net)
-€14,938
Cash 2025
€16,485
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,934,803 | €6,538,994 | -€395,809 | -5.7% |
| Fixed assets | 21/28 | €1,328,318 | €1,264,450 | -€63,868 | -4.8% |
| Tangible fixed assets | 22/27 | €1,328,318 | €1,264,450 | -€63,868 | -4.8% |
| Land and buildings | 22 | €1,328,318 | €1,264,450 | -€63,868 | -4.8% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €5,606,485 | €5,274,543 | -€331,941 | -5.9% |
| Amounts receivable within one year | 40/41 | €5,593,036 | €5,253,970 | -€339,066 | -6.1% |
| Trade receivables | 40 | €7,154 | €23,376 | +€16,222 | +227% |
| Other amounts receivable | 41 | €5,585,882 | €5,230,594 | -€355,288 | -6.4% |
| Cash at bank and in hand | 54/58 | €9,547 | €16,485 | +€6,938 | +72.7% |
| Deferred charges and accrued income | 490/1 | €3,902 | €4,088 | +€187 | +4.8% |
| Total equity and liabilities | 10/49 | €6,934,803 | €6,538,994 | -€395,809 | -5.7% |
| Equity | 10/15 | €870,425 | €470,855 | -€399,570 | -45.9% |
| Contributions | 10/11 | €1,591,699 | €1,591,699 | = | 0.0% |
| Capital | 10 | €1,591,699 | €1,591,699 | = | 0.0% |
| Issued capital | 100 | €1,591,699 | €1,591,699 | = | 0.0% |
| Reserves | 13 | €24,500 | €24,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,500 | €24,500 | = | 0.0% |
| Legal reserve | 130 | €24,500 | €24,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€745,774 | -€1,145,343 | -€399,570 | -53.6% |
| Amounts payable | 17/49 | €6,064,378 | €6,068,139 | +€3,761 | +0.1% |
| Amounts payable within one year | 42/48 | €6,046,865 | €6,026,124 | -€20,741 | -0.3% |
| Financial debts | 43 | €6,000,000 | €6,000,000 | = | 0.0% |
| Credit institutions | 430/8 | €6,000,000 | €6,000,000 | = | 0.0% |
| Trade debts | 44 | €46,865 | €26,124 | -€20,741 | -44.3% |
| Suppliers | 440/4 | €46,865 | €26,124 | -€20,741 | -44.3% |
| Accrued charges and deferred income | 492/3 | €17,513 | €42,014 | +€24,501 | +140% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,363 | €78,805 | -€2,557 | -3.1% |
| Other operating charges | 640/8 | €4,956 | €5,111 | +€155 | +3.1% |
| Gross operating margin | 9900 | -€127,959 | -€313,609 | -€185,649 | -145% |
| Operating profit (loss) | 9901 | -€214,278 | -€397,525 | -€183,247 | -85.5% |
| Financial income | 75/76B | €246,640 | €226,328 | -€20,312 | -8.2% |
| Recurring financial income | 75 | €246,640 | €226,328 | -€20,312 | -8.2% |
| Financial charges | 65/66B | €312,944 | €228,373 | -€84,571 | -27.0% |
| Recurring financial charges | 65 | €312,944 | €228,373 | -€84,571 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | -€280,581 | -€399,570 | -€118,989 | -42.4% |
| Profit (loss) for the period | 9904 | -€280,581 | -€399,570 | -€118,989 | -42.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€280,581 | -€399,570 | -€118,989 | -42.4% |
Next steps
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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 8 November 2026 via checked.be.