DE BELSER: 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.
DE BELSER
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Profit (loss) carried forward -€6,633
down €6,633 (-0.9%), from -€767,340 to -€773,974
- Other debts +€6,357
up €6,357 (+1.8%), from €361,657 to €368,014
- Financial charges -€198,712
down €198,712 (-99.8%), from €199,166 to €454
of which Non-recurring financial charges: -€199,114
- Taxes -€23,613
down €23,613 (-100.0%), from €23,613 to €0
- Other operating charges +€1,750
up €1,750 (+423.7%), from €413 to €2,163
- Gross operating margin -€303
down €303 (-8.2%), from -€3,713 to -€4,016
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 | €304,004 | €303,087 | -€917 | -0.3% |
| Fixed assets | 21/28 | €301,386 | €301,386 | = | 0.0% |
| Financial fixed assets | 28 | €301,386 | €301,386 | = | 0.0% |
| Current assets | 29/58 | €2,618 | €1,701 | -€917 | -35.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,510 | €534 | -€976 | -64.7% |
| Deferred charges and accrued income | 490/1 | €1,108 | €1,168 | +€59 | +5.4% |
| Total equity and liabilities | 10/49 | €304,004 | €303,087 | -€917 | -0.3% |
| Equity | 10/15 | -€83,747 | -€90,380 | -€6,633 | -7.9% |
| Contributions | 10/11 | €193,750 | €193,750 | = | 0.0% |
| Reserves | 13 | €489,844 | €489,844 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,375 | €19,375 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,375 | €19,375 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,431 | €7,431 | = | 0.0% |
| Distributable reserves | 133 | €463,038 | €463,038 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€767,340 | -€773,974 | -€6,633 | -0.9% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €387,750 | €393,467 | +€5,717 | +1.5% |
| Amounts payable within one year | 42/48 | €387,750 | €393,467 | +€5,717 | +1.5% |
| Trade debts | 44 | €1,081 | €440 | -€640 | -59.2% |
| Suppliers | 440/4 | €1,081 | €440 | -€640 | -59.2% |
| Taxes, remuneration and social security | 45 | €25,013 | €25,013 | = | 0.0% |
| Taxes | 450/3 | €25,013 | €25,013 | = | 0.0% |
| Other amounts payable | 47/48 | €361,657 | €368,014 | +€6,357 | +1.8% |
| Other operating charges | 640/8 | €413 | €2,163 | +€1,750 | +423.7% |
| Gross operating margin | 9900 | -€3,713 | -€4,016 | -€303 | -8.2% |
| Operating profit (loss) | 9901 | -€4,126 | -€6,180 | -€2,054 | -49.8% |
| Financial income | 75/76B | €1 | €0 | -€0 | -60.0% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -60.0% |
| Financial charges | 65/66B | €199,166 | €454 | -€198,712 | -99.8% |
| Recurring financial charges | 65 | €51 | €454 | +€402 | +782.4% |
| Non-recurring financial charges | 66B | €199,114 | €0 | -€199,114 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€203,291 | -€6,633 | +€196,658 | +96.7% |
| Transfer from deferred taxes | 780 | €193,599 | €0 | -€193,599 | -100.0% |
| Income taxes | 67/77 | €23,613 | €0 | -€23,613 | -100.0% |
| Profit (loss) for the period | 9904 | -€33,305 | -€6,633 | +€26,672 | +80.1% |
| Transfer from tax-exempt reserves | 789 | €64,533 | €0 | -€64,533 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,228 | -€6,633 | -€37,861 |
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 30 September 2026 via checked.be.