Hotel Development Belzan: 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.
Hotel Development Belzan
Largest movements
- Cash -€3,978
down €3,978 (-54.1%), from €7,348 to €3,370
mainly Net result for the year (-€17,229) and Receivables within one year (-€186)
- Receivables within one year +€186
up €186 (+1240.0%), from €15 to €201
of which Trade receivables: +€134
- Profit (loss) carried forward -€17,229
down €17,229 (-14.4%), from -€119,254 to -€136,483
- Other debts +€13,000
up €13,000 (+20.0%), from €65,117 to €78,117
- Trade debts +€437
new in 2025: €437
- Turnover -€35,000
no longer reported in 2025 (was €35,000)
- Gross operating margin -€25,210
down €25,210, from €8,798 to -€16,412
- Purchases and services -€19,382
down €19,382 (-54.1%), from €35,794 to €16,412
- Depreciation -€3,958
no longer reported in 2025 (was €3,958)
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 | €7,363 | €3,571 | -€3,792 | -51.5% |
| Current assets | 29/58 | €7,363 | €3,571 | -€3,792 | -51.5% |
| Amounts receivable within one year | 40/41 | €15 | €201 | +€186 | +1240.0% |
| Trade receivables | 40 | - | €134 | +€134 | |
| Other amounts receivable | 41 | €15 | €67 | +€52 | +346.7% |
| Cash at bank and in hand | 54/58 | €7,348 | €3,370 | -€3,978 | -54.1% |
| Total equity and liabilities | 10/49 | €7,363 | €3,571 | -€3,792 | -51.5% |
| Equity | 10/15 | -€57,754 | -€74,983 | -€17,229 | -29.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€119,254 | -€136,483 | -€17,229 | -14.4% |
| Amounts payable | 17/49 | €65,117 | €78,554 | +€13,437 | +20.6% |
| Amounts payable within one year | 42/48 | €65,117 | €78,554 | +€13,437 | +20.6% |
| Trade debts | 44 | - | €437 | +€437 | |
| Suppliers | 440/4 | - | €437 | +€437 | |
| Other amounts payable | 47/48 | €65,117 | €78,117 | +€13,000 | +20.0% |
| Turnover | 70 | €35,000 | - | -€35,000 | |
| Non-recurring operating income | 76A | €9,592 | - | -€9,592 | |
| Goods, raw materials, services and sundry goods | 60/61 | €35,794 | €16,412 | -€19,382 | -54.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,958 | - | -€3,958 | |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | €8,798 | -€16,412 | -€25,210 | |
| Operating profit (loss) | 9901 | €4,312 | -€16,956 | -€21,268 | |
| Financial charges | 65/66B | €390 | €273 | -€117 | -30.0% |
| Recurring financial charges | 65 | €390 | €273 | -€117 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €3,922 | -€17,229 | -€21,151 | |
| Profit (loss) for the period | 9904 | €3,922 | -€17,229 | -€21,151 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,922 | -€17,229 | -€21,151 |
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 29 September 2026 via checked.be.