IMMO BELLEKENS: 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.
IMMO BELLEKENS
Largest movements
- Receivables within one year -€20,000
down €20,000 (-40.0%), from €50,000 to €30,000
- Trade debts +€310,290
up €310,290 (+15,928%), from €1,948 to €312,239
- Other debts -€305,558
down €305,558 (-62.4%), from €490,045 to €184,487
- Debts after one year -€72,000
down €72,000 (-5.0%), from €1.5m to €1.4m
- Profit (loss) carried forward +€31,136
up €31,136 (+48.3%), from -€64,516 to -€33,380
- Other operating charges +€104,881
up €104,881 (+1,973%), from €5,315 to €110,196
- Gross operating margin +€92,087
up €92,087 (+127%), from €72,742 to €164,829
- Financial charges -€20,299
down €20,299 (-99.6%), from €20,377 to €78
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 | €1,971,513 | €1,935,381 | -€36,131 | -1.8% |
| Fixed assets | 21/28 | €1,386,277 | €1,367,852 | -€18,426 | -1.3% |
| Tangible fixed assets | 22/27 | €1,386,277 | €1,367,852 | -€18,426 | -1.3% |
| Land and buildings | 22 | €1,386,277 | €1,367,852 | -€18,426 | -1.3% |
| Current assets | 29/58 | €585,235 | €567,530 | -€17,706 | -3.0% |
| Amounts receivable after more than one year | 29 | €504,865 | €505,205 | +€340 | +0.1% |
| Other amounts receivable | 291 | €504,865 | €505,205 | +€340 | +0.1% |
| Amounts receivable within one year | 40/41 | €50,000 | €30,000 | -€20,000 | -40.0% |
| Trade receivables | 40 | €50,000 | €30,000 | -€20,000 | -40.0% |
| Cash at bank and in hand | 54/58 | €29,702 | €32,127 | +€2,425 | +8.2% |
| Deferred charges and accrued income | 490/1 | €667 | €197 | -€470 | -70.5% |
| Total equity and liabilities | 10/49 | €1,971,513 | €1,935,381 | -€36,131 | -1.8% |
| Equity | 10/15 | €24,984 | €56,120 | +€31,136 | +125% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €27,500 | €27,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €21,300 | €21,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,516 | -€33,380 | +€31,136 | +48.3% |
| Amounts payable | 17/49 | €1,946,529 | €1,879,261 | -€67,267 | -3.5% |
| Amounts payable after more than one year | 17 | €1,454,535 | €1,382,535 | -€72,000 | -5.0% |
| Other amounts payable | 178/9 | €1,454,535 | €1,382,535 | -€72,000 | -5.0% |
| Amounts payable within one year | 42/48 | €491,993 | €496,726 | +€4,733 | +1.0% |
| Trade debts | 44 | €1,948 | €312,239 | +€310,290 | +15,928% |
| Suppliers | 440/4 | €1,948 | €312,239 | +€310,290 | +15,928% |
| Other amounts payable | 47/48 | €490,045 | €184,487 | -€305,558 | -62.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,103 | €23,419 | +€316 | +1.4% |
| Other operating charges | 640/8 | €5,315 | €110,196 | +€104,881 | +1,973% |
| Gross operating margin | 9900 | €72,742 | €164,829 | +€92,087 | +127% |
| Operating profit (loss) | 9901 | €44,323 | €31,214 | -€13,109 | -29.6% |
| Financial charges | 65/66B | €20,377 | €78 | -€20,299 | -99.6% |
| Recurring financial charges | 65 | €20,377 | €78 | -€20,299 | -99.6% |
| Profit (loss) for the period before taxes | 9903 | €23,946 | €31,136 | +€7,190 | +30.0% |
| Profit (loss) for the period | 9904 | €23,946 | €31,136 | +€7,190 | +30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,946 | €31,136 | +€7,190 | +30.0% |
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 13 October 2026 via checked.be.