BELVIEW OFFICE: 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.
What changed
BELVIEW OFFICE
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€181,255
2024 · €99,740+€81,516
Equity
€2.5m
2024 · €2.5m-€71,045
Cash
€2.0m
2024 · €1.4m+€573,519
Balance sheet total
€15.4m
2024 · €15.2m+€150,773
Largest movements
Assets
- Cash +€573,519
up €573,519 (+41.1%), from €1.4m to €2.0m
mainly Depreciation (+€372,366) and Other debts (+€252,301)
- Tangible fixed assets -€302,305
down €302,305 (-2.4%), from €12.6m to €12.3m
Equity and liabilities
- Other debts +€252,301
new in 2025: €252,301
Income statement
- Services and other goods -€50,718
down €50,718 (-18.3%), from €277,665 to €226,947
- Turnover +€47,620
up €47,620 (+3.4%), from €1.4m to €1.4m
- Taxes +€32,054
up €32,054 (+113%), from €28,365 to €60,418
- Depreciation -€15,133
down €15,133 (-3.9%), from €387,499 to €372,366
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.
Result 2024
€99,740
Turnover
+€47,620
Services and other goods
+€50,718
Depreciation
+€15,133
Other operating charges
-€31
Financial income
+€65
Financial charges
+€64
Taxes
-€32,054
Result 2025
€181,255
raises the resultlowers the result
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.
From operations
+€895,881
Investment
-€70,061
Financing
-€252,301
Cash 2024
€1.4m
From operations (derived)
+€895,881
Net result for the year
+€181,255
Depreciation
+€372,366
Receivables within one year
-€2,048
Deferred charges and accrued income
+€122,489
Trade debts
-€14,525
Tax, wage and social debts
+€711
Other debts
+€252,301
Accrued charges and deferred income
-€16,668
Investment (derived)
-€70,061
Investment in fixed assets (net)
-€70,061
Financing
-€252,301
Contributions, distributions and other
-€252,301
Cash 2025
€2.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,205,402 | €15,356,175 | +€150,773 | +1.0% |
| Fixed assets | 21/28 | €12,636,277 | €12,333,972 | -€302,305 | -2.4% |
| Tangible fixed assets | 22/27 | €12,630,845 | €12,328,540 | -€302,305 | -2.4% |
| Land and buildings | 22 | €12,630,845 | €12,328,540 | -€302,305 | -2.4% |
| Financial fixed assets | 28 | €5,432 | €5,432 | = | 0.0% |
| Other financial fixed assets | 284/8 | €5,432 | €5,432 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €5,432 | €5,432 | = | 0.0% |
| Current assets | 29/58 | €2,569,125 | €3,022,203 | +€453,078 | +17.6% |
| Amounts receivable within one year | 40/41 | €6,830 | €8,878 | +€2,048 | +30.0% |
| Other amounts receivable | 41 | €6,830 | €8,878 | +€2,048 | +30.0% |
| Cash at bank and in hand | 54/58 | €1,395,880 | €1,969,399 | +€573,519 | +41.1% |
| Deferred charges and accrued income | 490/1 | €1,166,415 | €1,043,926 | -€122,489 | -10.5% |
| Total equity and liabilities | 10/49 | €15,205,402 | €15,356,175 | +€150,773 | +1.0% |
| Equity | 10/15 | €2,547,274 | €2,476,229 | -€71,045 | -2.8% |
| Contributions | 10/11 | €2,401,000 | €2,401,000 | = | 0.0% |
| Capital | 10 | €2,401,000 | €2,401,000 | = | 0.0% |
| Issued capital | 100 | €2,401,000 | €2,401,000 | = | 0.0% |
| Reserves | 13 | €66,166 | €75,229 | +€9,063 | +13.7% |
| Non-distributable reserves | 130/1 | €66,166 | €75,229 | +€9,063 | +13.7% |
| Legal reserve | 130 | €66,166 | €75,229 | +€9,063 | +13.7% |
| Profit (loss) carried forward | 14 | €80,108 | - | -€80,108 | |
| Amounts payable | 17/49 | €12,658,128 | €12,879,947 | +€221,818 | +1.8% |
| Amounts payable after more than one year | 17 | €12,000,000 | €12,000,000 | = | 0.0% |
| Financial debts | 170/4 | €12,000,000 | €12,000,000 | = | 0.0% |
| Other loans | 174 | €12,000,000 | €12,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €32,833 | €271,319 | +€238,486 | +726% |
| Trade debts | 44 | €30,098 | €15,573 | -€14,525 | -48.3% |
| Suppliers | 440/4 | €30,098 | €15,573 | -€14,525 | -48.3% |
| Taxes, remuneration and social security | 45 | €2,735 | €3,445 | +€711 | +26.0% |
| Taxes | 450/3 | €2,735 | €3,445 | +€711 | +26.0% |
| Other amounts payable | 47/48 | - | €252,301 | +€252,301 | |
| Accrued charges and deferred income | 492/3 | €625,296 | €608,628 | -€16,668 | -2.7% |
| Operating income | 70/76A | €1,391,392 | €1,439,012 | +€47,620 | +3.4% |
| Turnover | 70 | €1,391,392 | €1,439,012 | +€47,620 | +3.4% |
| Operating charges | 60/66A | €666,132 | €600,312 | -€65,820 | -9.9% |
| Services and other goods | 61 | €277,665 | €226,947 | -€50,718 | -18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €387,499 | €372,366 | -€15,133 | -3.9% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Operating profit (loss) | 9901 | €725,260 | €838,700 | +€113,440 | +15.6% |
| Financial income | 75/76B | €3,911 | €3,976 | +€65 | +1.7% |
| Recurring financial income | 75 | €3,911 | €3,976 | +€65 | +1.7% |
| Income from current assets | 751 | €3,911 | €3,976 | +€65 | +1.7% |
| Financial charges | 65/66B | €601,066 | €601,002 | -€64 | 0.0% |
| Recurring financial charges | 65 | €601,066 | €601,002 | -€64 | 0.0% |
| Debt charges | 650 | €600,000 | €600,000 | = | 0.0% |
| Other financial charges | 652/9 | €1,066 | €1,002 | -€64 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €128,104 | €241,674 | +€113,570 | +88.7% |
| Income taxes | 67/77 | €28,365 | €60,418 | +€32,054 | +113% |
| Taxes | 670/3 | €28,365 | €60,418 | +€32,054 | +113% |
| Profit (loss) for the period | 9904 | €99,740 | €181,255 | +€81,516 | +81.7% |
| Profit (loss) for the period to be appropriated | 9905 | €99,740 | €181,255 | +€81,516 | +81.7% |
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 23 October 2026 via checked.be.