BELVISTA: 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.
BELVISTA
Largest movements
- Tangible fixed assets -€20,373
down €20,373 (-3.8%), from €532,816 to €512,443
- Receivables after one year +€13,938
up €13,938 (+17.2%), from €80,957 to €94,895
- Cash -€7,642
down €7,642 (-32.7%), from €23,403 to €15,761
mainly Net result for the year (-€14,636) and Receivables after one year (-€13,938)
- Reserves -€14,636
down €14,636 (-22.8%), from €64,176 to €49,540
of which Distributable reserves: -€14,636
- Financial income +€131
up €131 (+19.2%), from €679 to €810
- Gross operating margin +€106
up €106 (+1.4%), from €7,640 to €7,746
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €637,176 | €623,099 | -€14,077 | -2.2% |
| Fixed assets | 21/28 | €532,816 | €512,443 | -€20,373 | -3.8% |
| Tangible fixed assets | 22/27 | €532,816 | €512,443 | -€20,373 | -3.8% |
| Land and buildings | 22 | €532,816 | €512,443 | -€20,373 | -3.8% |
| Current assets | 29/58 | €104,360 | €110,656 | +€6,296 | +6.0% |
| Amounts receivable after more than one year | 29 | €80,957 | €94,895 | +€13,938 | +17.2% |
| Other amounts receivable | 291 | €80,957 | €94,895 | +€13,938 | +17.2% |
| Cash at bank and in hand | 54/58 | €23,403 | €15,761 | -€7,642 | -32.7% |
| Total equity and liabilities | 10/49 | €637,176 | €623,099 | -€14,077 | -2.2% |
| Equity | 10/15 | €637,176 | €622,540 | -€14,636 | -2.3% |
| Contributions | 10/11 | €573,000 | €573,000 | = | 0.0% |
| Capital | 10 | €573,000 | €573,000 | = | 0.0% |
| Issued capital | 100 | €573,000 | €573,000 | = | 0.0% |
| Reserves | 13 | €64,176 | €49,540 | -€14,636 | -22.8% |
| Non-distributable reserves | 130/1 | €29,000 | €29,000 | = | 0.0% |
| Legal reserve | 130 | €29,000 | €29,000 | = | 0.0% |
| Distributable reserves | 133 | €35,176 | €20,540 | -€14,636 | -41.6% |
| Amounts payable | 17/49 | - | €559 | +€559 | |
| Amounts payable within one year | 42/48 | - | €559 | +€559 | |
| Trade debts | 44 | - | €559 | +€559 | |
| Suppliers | 440/4 | - | €559 | +€559 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,373 | €20,373 | = | 0.0% |
| Other operating charges | 640/8 | €2,834 | €2,788 | -€45 | -1.6% |
| Gross operating margin | 9900 | €7,640 | €7,746 | +€106 | +1.4% |
| Operating profit (loss) | 9901 | -€15,566 | -€15,415 | +€151 | +1.0% |
| Financial income | 75/76B | €679 | €810 | +€131 | +19.2% |
| Recurring financial income | 75 | €679 | €810 | +€131 | +19.2% |
| Financial charges | 65/66B | €30 | €30 | = | 0.0% |
| Recurring financial charges | 65 | €30 | €30 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,917 | -€14,636 | +€282 | +1.9% |
| Profit (loss) for the period | 9904 | -€14,917 | -€14,636 | +€282 | +1.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,917 | -€14,636 | +€282 | +1.9% |
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 15 October 2026 via checked.be.