BELVISION SECURITY: 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.
BELVISION SECURITY
Largest movements
- Deferred charges and accrued income -€1,157
down €1,157 (-62.1%), from €1,863 to €706
- Cash +€860
up €860 (+5.6%), from €15,287 to €16,146
mainly Depreciation (+€6,528) and Other debts (+€2,100)
- Tangible fixed assets -€708
down €708 (-5.2%), from €13,635 to €12,927
of which Furniture and vehicles: -€398
- Debts after one year -€3,168
down €3,168 (-31.9%), from €9,929 to €6,761
- Other debts +€2,100
new in 2025: €2,100
- Tax, wage and social debts +€1,967
up €1,967 (+52.1%), from €3,777 to €5,744
- Profit (loss) carried forward -€933
down €933 (-25.5%), from €3,660 to €2,727
- Trade debts -€565
down €565 (-57.9%), from €976 to €411
- Gross operating margin +€8,829
up €8,829 (+127.7%), from €6,915 to €15,745
- Depreciation +€2,265
up €2,265 (+53.1%), from €4,263 to €6,528
- Taxes +€1,441
up €1,441 (+87.3%), from €1,651 to €3,092
- Financial charges +€864
up €864 (+12276.4%), from €7 to €871
- Other operating charges +€571
up €571 (+21.7%), from €2,625 to €3,196
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 | €33,661 | €32,664 | -€998 | -3.0% |
| Fixed assets | 21/28 | €13,635 | €12,927 | -€708 | -5.2% |
| Tangible fixed assets | 22/27 | €13,635 | €12,927 | -€708 | -5.2% |
| Plant, machinery and equipment | 23 | €826 | €516 | -€310 | -37.5% |
| Furniture and vehicles | 24 | €12,809 | €12,411 | -€398 | -3.1% |
| Current assets | 29/58 | €20,026 | €19,736 | -€290 | -1.4% |
| Stocks and contracts in progress | 3 | €734 | €650 | -€84 | -11.4% |
| Stocks | 30/36 | €734 | €650 | -€84 | -11.4% |
| Amounts receivable within one year | 40/41 | €2,143 | €2,235 | +€92 | +4.3% |
| Trade receivables | 40 | €720 | - | -€720 | |
| Other amounts receivable | 41 | €1,423 | €2,235 | +€812 | +57.0% |
| Cash at bank and in hand | 54/58 | €15,287 | €16,146 | +€860 | +5.6% |
| Deferred charges and accrued income | 490/1 | €1,863 | €706 | -€1,157 | -62.1% |
| Total equity and liabilities | 10/49 | €33,661 | €32,664 | -€998 | -3.0% |
| Equity | 10/15 | €14,550 | €13,617 | -€933 | -6.4% |
| Contributions | 10/11 | €9,900 | €9,900 | = | 0.0% |
| Reserves | 13 | €990 | €990 | = | 0.0% |
| Distributable reserves | 133 | €990 | €990 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,660 | €2,727 | -€933 | -25.5% |
| Amounts payable | 17/49 | €19,112 | €19,047 | -€65 | -0.3% |
| Amounts payable after more than one year | 17 | €9,929 | €6,761 | -€3,168 | -31.9% |
| Financial debts | 170/4 | €9,929 | €6,761 | -€3,168 | -31.9% |
| Amounts payable within one year | 42/48 | €9,183 | €12,286 | +€3,104 | +33.8% |
| Current portion of amounts payable after more than one year | 42 | €4,430 | €4,031 | -€399 | -9.0% |
| Trade debts | 44 | €976 | €411 | -€565 | -57.9% |
| Suppliers | 440/4 | €976 | €411 | -€565 | -57.9% |
| Taxes, remuneration and social security | 45 | €3,777 | €5,744 | +€1,967 | +52.1% |
| Taxes | 450/3 | €3,777 | €5,744 | +€1,967 | +52.1% |
| Other amounts payable | 47/48 | - | €2,100 | +€2,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,263 | €6,528 | +€2,265 | +53.1% |
| Other operating charges | 640/8 | €2,625 | €3,196 | +€571 | +21.7% |
| Gross operating margin | 9900 | €6,915 | €15,745 | +€8,829 | +127.7% |
| Operating profit (loss) | 9901 | €28 | €6,022 | +€5,994 | +21662.5% |
| Financial income | 75/76B | €35 | €9 | -€26 | -75.1% |
| Recurring financial income | 75 | €35 | €9 | -€26 | -75.1% |
| Financial charges | 65/66B | €7 | €871 | +€864 | +12276.4% |
| Recurring financial charges | 65 | €7 | €871 | +€864 | +12276.4% |
| Profit (loss) for the period before taxes | 9903 | €56 | €5,159 | +€5,103 | +9139.2% |
| Income taxes | 67/77 | €1,651 | €3,092 | +€1,441 | +87.3% |
| Profit (loss) for the period | 9904 | -€1,595 | €2,067 | +€3,662 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,595 | €2,067 | +€3,662 |
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 7 October 2026 via checked.be.