BELVAL: 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.
BELVAL
Largest movements
- Cash +€36,098
up €36,098 (+117.5%), from €30,730 to €66,828
mainly Depreciation (+€14,621) and Net result for the year (+€13,639)
- Tangible fixed assets -€14,621
down €14,621 (-5.1%), from €288,184 to €273,563
- Profit (loss) carried forward +€13,639
up €13,639 (+6.2%), from -€218,312 to -€204,673
- Other debts +€7,860
up €7,860 (+6.4%), from €122,166 to €130,026
- Other operating charges +€2,835
up €2,835 (+51.0%), from €5,559 to €8,394
- Purchases and services -€1,048
down €1,048 (-12.4%), from €8,463 to €7,415
- Turnover -€580
down €580 (-1.1%), from €52,174 to €51,594
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 | €318,914 | €340,391 | +€21,477 | +6.7% |
| Fixed assets | 21/28 | €288,184 | €273,563 | -€14,621 | -5.1% |
| Tangible fixed assets | 22/27 | €288,184 | €273,563 | -€14,621 | -5.1% |
| Land and buildings | 22 | €288,184 | €273,563 | -€14,621 | -5.1% |
| Current assets | 29/58 | €30,730 | €66,828 | +€36,098 | +117.5% |
| Cash at bank and in hand | 54/58 | €30,730 | €66,828 | +€36,098 | +117.5% |
| Total equity and liabilities | 10/49 | €318,914 | €340,391 | +€21,477 | +6.7% |
| Equity | 10/15 | €191,688 | €205,327 | +€13,639 | +7.1% |
| Contributions | 10/11 | €410,000 | €410,000 | = | 0.0% |
| Capital | 10 | €410,000 | €410,000 | = | 0.0% |
| Issued capital | 100 | €410,000 | €410,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€218,312 | -€204,673 | +€13,639 | +6.2% |
| Amounts payable | 17/49 | €127,226 | €135,064 | +€7,838 | +6.2% |
| Amounts payable within one year | 42/48 | €127,226 | €135,064 | +€7,838 | +6.2% |
| Trade debts | 44 | €2,748 | €2,847 | +€99 | +3.6% |
| Suppliers | 440/4 | €2,748 | €2,847 | +€99 | +3.6% |
| Taxes, remuneration and social security | 45 | €2,312 | €2,191 | -€121 | -5.2% |
| Taxes | 450/3 | €2,312 | €2,191 | -€121 | -5.2% |
| Other amounts payable | 47/48 | €122,166 | €130,026 | +€7,860 | +6.4% |
| Turnover | 70 | €52,174 | €51,594 | -€580 | -1.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €8,463 | €7,415 | -€1,048 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,620 | €14,621 | +€1 | 0.0% |
| Other operating charges | 640/8 | €5,559 | €8,394 | +€2,835 | +51.0% |
| Gross operating margin | 9900 | €43,712 | €44,179 | +€467 | +1.1% |
| Operating profit (loss) | 9901 | €23,533 | €21,164 | -€2,369 | -10.1% |
| Financial charges | 65/66B | €7,812 | €7,525 | -€287 | -3.7% |
| Recurring financial charges | 65 | €7,812 | €7,525 | -€287 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €15,721 | €13,639 | -€2,082 | -13.2% |
| Profit (loss) for the period | 9904 | €15,721 | €13,639 | -€2,082 | -13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €15,721 | €13,639 | -€2,082 | -13.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.