BELYSIUM: 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.
BELYSIUM
Largest movements
- Stocks and contracts +€3.0m
up €3.0m (+224%), from €1.3m to €4.4m
- Cash -€164,383
down €164,383 (-98.0%), from €167,663 to €3,279
mainly Stocks and contracts (-€3.0m) and Receivables within one year (-€12,019)
- Short-term financial debts +€2.3m
up €2.3m (+160%), from €1.4m to €3.7m
- Other debts +€545,000
new in 2025: €545,000
- Gross operating margin +€2,996
up €2,996 (+71.3%), from -€4,200 to -€1,204
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 | €1,515,484 | €4,378,128 | +€2.9m | +189% |
| Current assets | 29/58 | €1,515,484 | €4,378,128 | +€2.9m | +189% |
| Stocks and contracts in progress | 3 | €1,346,678 | €4,361,687 | +€3.0m | +224% |
| Contracts in progress | 37 | €1,346,678 | €4,361,687 | +€3.0m | +224% |
| Amounts receivable within one year | 40/41 | €1,144 | €13,162 | +€12,019 | +1,051% |
| Other amounts receivable | 41 | €1,144 | €13,162 | +€12,019 | +1,051% |
| Cash at bank and in hand | 54/58 | €167,663 | €3,279 | -€164,383 | -98.0% |
| Total equity and liabilities | 10/49 | €1,515,484 | €4,378,128 | +€2.9m | +189% |
| Equity | 10/15 | €2,759 | €677 | -€2,082 | -75.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,241 | -€9,323 | -€2,082 | -28.8% |
| Amounts payable | 17/49 | €1,512,725 | €4,377,451 | +€2.9m | +189% |
| Amounts payable within one year | 42/48 | €1,512,651 | €4,377,451 | +€2.9m | +189% |
| Financial debts | 43 | €1,432,095 | €3,727,848 | +€2.3m | +160% |
| Credit institutions | 430/8 | €1,432,095 | €3,727,848 | +€2.3m | +160% |
| Trade debts | 44 | €80,556 | €104,603 | +€24,047 | +29.9% |
| Suppliers | 440/4 | €80,556 | €104,603 | +€24,047 | +29.9% |
| Other amounts payable | 47/48 | - | €545,000 | +€545,000 | |
| Accrued charges and deferred income | 492/3 | €74 | €0 | -€74 | -100% |
| Other operating charges | 640/8 | €480 | €447 | -€32 | -6.8% |
| Gross operating margin | 9900 | -€4,200 | -€1,204 | +€2,996 | +71.3% |
| Operating profit (loss) | 9901 | -€4,680 | -€1,652 | +€3,028 | +64.7% |
| Financial charges | 65/66B | €400 | €431 | +€31 | +7.7% |
| Recurring financial charges | 65 | €400 | €431 | +€31 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | -€5,080 | -€2,082 | +€2,997 | +59.0% |
| Profit (loss) for the period | 9904 | -€5,080 | -€2,082 | +€2,997 | +59.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,080 | -€2,082 | +€2,997 | +59.0% |
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 30 October 2026 via checked.be.