BELVISION: 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.
What changed
BELVISION
NACE 60.200, Programming, broadcasting, news agency and other content distribution activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€15,770
2024 · €216,589-€200,819
Equity
€908,657
2024 · €892,887+€15,770
Cash
€62,778
2024 · €40,419+€22,359
Balance sheet total
€11.2m
2024 · €10.0m+€1.2m
Largest movements
Assets
- Receivables within one year +€3.0m
up €3.0m (+151.2%), from €2.0m to €5.0m
of which Other amounts receivable: +€2.1m
- Stocks and contracts -€1.8m
down €1.8m (-22.7%), from €7.9m to €6.1m
Equity and liabilities
- Other debts +€3.7m
up €3.7m (+205.5%), from €1.8m to €5.4m
- Advances received -€2.2m
down €2.2m (-52.7%), from €4.2m to €2.0m
- Trade debts -€326,171
down €326,171 (-10.2%), from €3.2m to €2.9m
Income statement
- Turnover +€6.2m
up €6.2m (+172.7%), from €3.6m to €9.8m
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
€216,589
Turnover
+€6.2m
Other operating income
-€7,809
Goods and materials
-€87,243
Services and other goods
-€77,559
Write-downs
-€46,650
Other operating charges
-€998
Other operating items
-€6.1m
Financial income
-€539
Financial charges
-€87,502
Result 2025
€15,770
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.
From operations
-€51,856
Investment
+€74,215
Financing
€0
Cash 2024
€40,419
From operations (derived)
-€51,856
Net result for the year
+€15,770
Stocks and contracts
+€1.8m
Receivables within one year
-€3.0m
Smaller working-capital items
-€41
Trade debts
-€326,171
Advances received
-€2.2m
Other debts
+€3.7m
Accrued charges and deferred income
+€11,130
Investment (derived)
+€74,215
Investment in fixed assets (net)
+€74,215
Cash 2025
€62,778
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,019,218 | €11,180,716 | +€1.2m | +11.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €74,215 | €0 | -€74,215 | -100.0% |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €74,215 | - | -€74,215 | |
| Other financial fixed assets | 284/8 | €74,215 | - | -€74,215 | |
| Amounts receivable and cash guarantees | 285/8 | €74,215 | - | -€74,215 | |
| Current assets | 29/58 | €9,945,003 | €11,180,716 | +€1.2m | +12.4% |
| Stocks and contracts in progress | 3 | €7,913,197 | €6,116,015 | -€1.8m | -22.7% |
| Stocks | 30/36 | €7,913,197 | €6,116,015 | -€1.8m | -22.7% |
| Work in progress | 32 | €7,913,197 | €6,116,015 | -€1.8m | -22.7% |
| Amounts receivable within one year | 40/41 | €1,991,383 | €5,001,923 | +€3.0m | +151.2% |
| Trade receivables | 40 | €1,116,334 | €2,021,108 | +€904,773 | +81.0% |
| Other amounts receivable | 41 | €875,048 | €2,980,815 | +€2.1m | +240.6% |
| Cash at bank and in hand | 54/58 | €40,419 | €62,778 | +€22,359 | +55.3% |
| Deferred charges and accrued income | 490/1 | €4 | - | -€4 | |
| Total equity and liabilities | 10/49 | €10,019,218 | €11,180,716 | +€1.2m | +11.6% |
| Equity | 10/15 | €892,887 | €908,657 | +€15,770 | +1.8% |
| Contributions | 10/11 | €728,600 | €728,600 | = | 0.0% |
| Capital | 10 | €728,600 | €728,600 | = | 0.0% |
| Issued capital | 100 | €728,600 | €728,600 | = | 0.0% |
| Reserves | 13 | €40,325 | €41,114 | +€789 | +2.0% |
| Non-distributable reserves | 130/1 | €40,325 | €41,114 | +€789 | +2.0% |
| Legal reserve | 130 | €40,325 | €41,114 | +€789 | +2.0% |
| Profit (loss) carried forward | 14 | €123,962 | €138,943 | +€14,982 | +12.1% |
| Amounts payable | 17/49 | €9,126,331 | €10,272,059 | +€1.1m | +12.6% |
| Amounts payable within one year | 42/48 | €9,118,861 | €10,253,459 | +€1.1m | +12.4% |
| Trade debts | 44 | €3,185,843 | €2,859,671 | -€326,171 | -10.2% |
| Suppliers | 440/4 | €3,185,843 | €2,859,671 | -€326,171 | -10.2% |
| Advances received on contracts in progress | 46 | €4,156,141 | €1,966,232 | -€2.2m | -52.7% |
| Taxes, remuneration and social security | 45 | €45 | - | -€45 | |
| Taxes | 450/3 | €45 | - | -€45 | |
| Other amounts payable | 47/48 | €1,776,832 | €5,427,556 | +€3.7m | +205.5% |
| Accrued charges and deferred income | 492/3 | €7,470 | €18,600 | +€11,130 | +149.0% |
| Operating income | 70/76A | €7,960,968 | €8,060,641 | +€99,673 | +1.3% |
| Turnover | 70 | €3,584,678 | €9,773,674 | +€6.2m | +172.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €4,330,980 | -€1,750,532 | -€6.1m | |
| Other operating income | 74 | €45,309 | €37,500 | -€7,809 | -17.2% |
| Operating charges | 60/66A | €7,679,087 | €7,891,537 | +€212,450 | +2.8% |
| Goods for resale, raw materials and consumables | 60 | €7,479,886 | €7,567,129 | +€87,243 | +1.2% |
| Purchases | 600/8 | €7,479,886 | €7,567,129 | +€87,243 | +1.2% |
| Services and other goods | 61 | €199,201 | €276,760 | +€77,559 | +38.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €46,650 | +€46,650 | |
| Other operating charges | 640/8 | - | €998 | +€998 | |
| Operating profit (loss) | 9901 | €281,881 | €169,104 | -€112,777 | -40.0% |
| Financial income | 75/76B | €559 | €20 | -€539 | -96.5% |
| Recurring financial income | 75 | €559 | €20 | -€539 | -96.5% |
| Income from current assets | 751 | €465 | €20 | -€446 | -95.8% |
| Other financial income | 752/9 | €94 | - | -€94 | |
| Financial charges | 65/66B | €65,851 | €153,353 | +€87,502 | +132.9% |
| Recurring financial charges | 65 | €65,851 | €153,353 | +€87,502 | +132.9% |
| Debt charges | 650 | €64,456 | €136,004 | +€71,547 | +111.0% |
| Other financial charges | 652/9 | €1,395 | €17,350 | +€15,955 | +1143.8% |
| Profit (loss) for the period before taxes | 9903 | €216,589 | €15,770 | -€200,819 | -92.7% |
| Profit (loss) for the period | 9904 | €216,589 | €15,770 | -€200,819 | -92.7% |
| Profit (loss) for the period to be appropriated | 9905 | €216,589 | €15,770 | -€200,819 | -92.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.