Belvil Immo: 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.
Belvil Immo
Largest movements
- Tangible fixed assets -€14,587
down €14,587 (-52.8%), from €27,636 to €13,049
of which Plant, machinery and equipment: -€7,447
- Receivables within one year -€12,740
down €12,740 (-84.4%), from €15,087 to €2,347
of which Trade receivables: -€8,754
- Cash +€8,288
up €8,288 (+7,286%), from €114 to €8,401
mainly Net result for the year (+€159,871) and Depreciation (+€19,116)
- Profit (loss) carried forward +€159,871
up €159,871 (+42.2%), from -€378,814 to -€218,942
- Other debts -€151,849
down €151,849 (-46.6%), from €325,971 to €174,121
- Trade debts -€15,685
down €15,685 (-32.4%), from €48,435 to €32,750
- Current portion of long-term debt -€14,445
no longer reported in 2025 (was €14,445)
- Tax, wage and social debts +€3,113
up €3,113 (+49.7%), from €6,266 to €9,379
- Gross operating margin +€221,288
up €221,288, from -€40,811 to €180,477
- Other operating charges -€2,495
down €2,495 (-70.8%), from €3,527 to €1,031
- Depreciation +€2,037
up €2,037 (+11.9%), from €17,079 to €19,116
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €49,517 | €30,138 | -€19,379 | -39.1% |
| Fixed assets | 21/28 | €32,192 | €17,232 | -€14,960 | -46.5% |
| Intangible fixed assets | 21 | €1,422 | €1,049 | -€373 | -26.2% |
| Tangible fixed assets | 22/27 | €27,636 | €13,049 | -€14,587 | -52.8% |
| Plant, machinery and equipment | 23 | €13,217 | €5,771 | -€7,447 | -56.3% |
| Furniture and vehicles | 24 | €14,419 | €7,278 | -€7,140 | -49.5% |
| Financial fixed assets | 28 | €3,134 | €3,134 | = | 0.0% |
| Current assets | 29/58 | €17,325 | €12,906 | -€4,419 | -25.5% |
| Amounts receivable within one year | 40/41 | €15,087 | €2,347 | -€12,740 | -84.4% |
| Trade receivables | 40 | €11,101 | €2,347 | -€8,754 | -78.9% |
| Other amounts receivable | 41 | €3,986 | - | -€3,986 | |
| Cash at bank and in hand | 54/58 | €114 | €8,401 | +€8,288 | +7,286% |
| Deferred charges and accrued income | 490/1 | €2,124 | €2,157 | +€33 | +1.6% |
| Total equity and liabilities | 10/49 | €49,517 | €30,138 | -€19,379 | -39.1% |
| Equity | 10/15 | -€345,984 | -€186,112 | +€159,871 | +46.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €14,230 | €14,230 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €12,370 | €12,370 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€378,814 | -€218,942 | +€159,871 | +42.2% |
| Amounts payable | 17/49 | €395,501 | €216,250 | -€179,250 | -45.3% |
| Amounts payable within one year | 42/48 | €395,116 | €216,250 | -€178,866 | -45.3% |
| Current portion of amounts payable after more than one year | 42 | €14,445 | - | -€14,445 | |
| Trade debts | 44 | €48,435 | €32,750 | -€15,685 | -32.4% |
| Suppliers | 440/4 | €48,435 | €32,750 | -€15,685 | -32.4% |
| Taxes, remuneration and social security | 45 | €6,266 | €9,379 | +€3,113 | +49.7% |
| Taxes | 450/3 | €6,266 | €9,379 | +€3,113 | +49.7% |
| Other amounts payable | 47/48 | €325,971 | €174,121 | -€151,849 | -46.6% |
| Accrued charges and deferred income | 492/3 | €384 | - | -€384 | |
| Remuneration, social security and pensions | 62 | €806 | €378 | -€428 | -53.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,079 | €19,116 | +€2,037 | +11.9% |
| Other operating charges | 640/8 | €3,527 | €1,031 | -€2,495 | -70.8% |
| Gross operating margin | 9900 | -€40,811 | €180,477 | +€221,288 | |
| Operating profit (loss) | 9901 | -€62,223 | €159,951 | +€222,174 | |
| Financial income | 75/76B | €1 | €1,100 | +€1,099 | +164,084% |
| Recurring financial income | 75 | €1 | €1,100 | +€1,099 | +164,084% |
| Financial charges | 65/66B | €2,247 | €669 | -€1,577 | -70.2% |
| Recurring financial charges | 65 | €2,247 | €669 | -€1,577 | -70.2% |
| Profit (loss) for the period before taxes | 9903 | -€64,469 | €160,382 | +€224,850 | |
| Income taxes | 67/77 | €790 | €510 | -€279 | -35.4% |
| Profit (loss) for the period | 9904 | -€65,258 | €159,871 | +€225,130 | |
| Profit (loss) for the period to be appropriated | 9905 | -€65,258 | €159,871 | +€225,130 |
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 18 October 2026 via checked.be.