Belysse Group: 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.
Belysse Group
Largest movements
- Financial fixed assets -€19.8m
down €19.8m (-7.1%), from €280.2m to €260.4m
- Profit (loss) carried forward -€22.6m
down €22.6m (-11.9%), from -€190.3m to -€212.9m
- Financial charges +€22.7m
up €22.7m (+148,879%), from €15,243 to €22.7m
of which Non-recurring financial charges: +€22.7m
- Services and other goods +€464,466
up €464,466 (+62.4%), from €744,787 to €1.2m
- Turnover +€444,691
up €444,691 (+57.1%), from €778,790 to €1.2m
- Financial income -€36,971
down €36,971 (-35.2%), from €105,073 to €68,103
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 | €283,414,561 | €260,781,718 | -€22.6m | -8.0% |
| Fixed assets | 21/28 | €280,241,000 | €260,432,254 | -€19.8m | -7.1% |
| Financial fixed assets | 28 | €280,241,000 | €260,432,254 | -€19.8m | -7.1% |
| Affiliated companies | 280/1 | €280,241,000 | €260,432,254 | -€19.8m | -7.1% |
| Participating interests | 280 | €280,241,000 | €257,532,254 | -€22.7m | -8.1% |
| Amounts receivable | 281 | - | €2,900,000 | +€2.9m | |
| Current assets | 29/58 | €3,173,561 | €349,464 | -€2.8m | -89.0% |
| Amounts receivable within one year | 40/41 | €360,141 | €340,364 | -€19,777 | -5.5% |
| Trade receivables | 40 | €313,520 | €315,162 | +€1,642 | +0.5% |
| Other amounts receivable | 41 | €46,621 | €25,202 | -€21,419 | -45.9% |
| Cash at bank and in hand | 54/58 | €2,813,420 | €9,099 | -€2.8m | -99.7% |
| Total equity and liabilities | 10/49 | €283,414,561 | €260,781,718 | -€22.6m | -8.0% |
| Equity | 10/15 | €283,083,121 | €260,438,018 | -€22.6m | -8.0% |
| Contributions | 10/11 | €326,249,997 | €326,249,997 | = | 0.0% |
| Capital | 10 | €260,589,621 | €260,589,621 | = | 0.0% |
| Issued capital | 100 | €260,589,621 | €260,589,621 | = | 0.0% |
| Contributions outside capital | 11 | €65,660,376 | €65,660,376 | = | 0.0% |
| Share premium | 1100/10 | €65,660,376 | €65,660,376 | = | 0.0% |
| Reserves | 13 | €147,124,528 | €147,124,528 | = | 0.0% |
| Distributable reserves | 133 | €147,124,528 | €147,124,528 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€190,291,404 | -€212,936,507 | -€22.6m | -11.9% |
| Amounts payable | 17/49 | €331,440 | €343,699 | +€12,260 | +3.7% |
| Amounts payable within one year | 42/48 | €331,440 | €343,699 | +€12,260 | +3.7% |
| Trade debts | 44 | €327,190 | €340,781 | +€13,591 | +4.2% |
| Suppliers | 440/4 | €327,190 | €340,781 | +€13,591 | +4.2% |
| Taxes, remuneration and social security | 45 | €4,250 | €2,918 | -€1,331 | -31.3% |
| Taxes | 450/3 | €4,250 | €2,918 | -€1,331 | -31.3% |
| Operating income | 70/76A | €778,790 | €1,223,481 | +€444,691 | +57.1% |
| Turnover | 70 | €778,790 | €1,223,481 | +€444,691 | +57.1% |
| Operating charges | 60/66A | €762,460 | €1,227,277 | +€464,817 | +61.0% |
| Services and other goods | 61 | €744,787 | €1,209,252 | +€464,466 | +62.4% |
| Other operating charges | 640/8 | €17,673 | €18,025 | +€352 | +2.0% |
| Operating profit (loss) | 9901 | €16,329 | -€3,797 | -€20,126 | |
| Financial income | 75/76B | €105,073 | €68,103 | -€36,971 | -35.2% |
| Recurring financial income | 75 | €105,073 | €68,103 | -€36,971 | -35.2% |
| Other financial income | 752/9 | €105,073 | €68,103 | -€36,971 | -35.2% |
| Financial charges | 65/66B | €15,243 | €22,709,409 | +€22.7m | +148,879% |
| Recurring financial charges | 65 | €15,243 | €663 | -€14,580 | -95.6% |
| Other financial charges | 652/9 | €15,243 | €663 | -€14,580 | -95.6% |
| Non-recurring financial charges | 66B | - | €22,708,746 | +€22.7m | |
| Profit (loss) for the period before taxes | 9903 | €106,160 | -€22,645,103 | -€22.8m | |
| Profit (loss) for the period | 9904 | €106,160 | -€22,645,103 | -€22.8m | |
| Profit (loss) for the period to be appropriated | 9905 | €106,160 | -€22,645,103 | -€22.8m |
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.