TREES VAN BELLEGHEM: 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.
TREES VAN BELLEGHEM
Largest movements
- Cash +€195,206
up €195,206 (+203%), from €96,222 to €291,428
mainly Receivables after one year (+€192,000) and Net result for the year (+€103,611)
- Receivables after one year -€192,000
down €192,000 (-36.6%), from €525,000 to €333,000
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Tangible fixed assets -€20,776
down €20,776 (-12.2%), from €170,236 to €149,459
of which Furniture and vehicles: -€12,401
- Debts after one year -€121,762
down €121,762 (-57.3%), from €212,507 to €90,745
- Reserves +€70,847
up €70,847 (+13.0%), from €544,689 to €615,536
- Short-term financial debts -€15,808
down €15,808 (-15.5%), from €101,937 to €86,129
- Gross operating margin +€40,260
up €40,260 (+29.5%), from €136,269 to €176,529
- Taxes +€17,742
up €17,742 (+52.3%), from €33,935 to €51,676
- Depreciation +€2,639
up €2,639 (+14.6%), from €18,137 to €20,776
- Financial income +€1,841
up €1,841 (+22.6%), from €8,158 to €9,999
- Financial charges -€1,822
down €1,822 (-18.2%), from €10,021 to €8,200
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 | €887,171 | €826,031 | -€61,140 | -6.9% |
| Fixed assets | 21/28 | €170,236 | €149,459 | -€20,776 | -12.2% |
| Tangible fixed assets | 22/27 | €170,236 | €149,459 | -€20,776 | -12.2% |
| Land and buildings | 22 | €123,444 | €115,068 | -€8,375 | -6.8% |
| Furniture and vehicles | 24 | €46,792 | €34,391 | -€12,401 | -26.5% |
| Current assets | 29/58 | €716,936 | €676,572 | -€40,364 | -5.6% |
| Amounts receivable after more than one year | 29 | €525,000 | €333,000 | -€192,000 | -36.6% |
| Trade receivables | 290 | €525,000 | €333,000 | -€192,000 | -36.6% |
| Amounts receivable within one year | 40/41 | €45,713 | €52,143 | +€6,430 | +14.1% |
| Trade receivables | 40 | €18,607 | €17,296 | -€1,311 | -7.0% |
| Other amounts receivable | 41 | €27,106 | €34,847 | +€7,741 | +28.6% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €96,222 | €291,428 | +€195,206 | +203% |
| Total equity and liabilities | 10/49 | €887,171 | €826,031 | -€61,140 | -6.9% |
| Equity | 10/15 | €557,089 | €627,936 | +€70,847 | +12.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €544,689 | €615,536 | +€70,847 | +13.0% |
| Distributable reserves | 133 | €544,689 | €615,536 | +€70,847 | +13.0% |
| Amounts payable | 17/49 | €330,082 | €198,094 | -€131,987 | -40.0% |
| Amounts payable after more than one year | 17 | €212,507 | €90,745 | -€121,762 | -57.3% |
| Financial debts | 170/4 | €212,507 | €90,745 | -€121,762 | -57.3% |
| Amounts payable within one year | 42/48 | €117,574 | €107,349 | -€10,225 | -8.7% |
| Financial debts | 43 | €101,937 | €86,129 | -€15,808 | -15.5% |
| Credit institutions | 430/8 | €101,937 | €86,129 | -€15,808 | -15.5% |
| Trade debts | 44 | €201 | €1,324 | +€1,123 | +559% |
| Suppliers | 440/4 | €201 | €1,324 | +€1,123 | +559% |
| Taxes, remuneration and social security | 45 | €15,437 | €19,896 | +€4,460 | +28.9% |
| Taxes | 450/3 | €15,437 | €19,896 | +€4,460 | +28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,137 | €20,776 | +€2,639 | +14.6% |
| Other operating charges | 640/8 | €1,569 | €2,264 | +€695 | +44.3% |
| Gross operating margin | 9900 | €136,269 | €176,529 | +€40,260 | +29.5% |
| Operating profit (loss) | 9901 | €116,563 | €153,488 | +€36,926 | +31.7% |
| Financial income | 75/76B | €8,158 | €9,999 | +€1,841 | +22.6% |
| Recurring financial income | 75 | €8,158 | €9,999 | +€1,841 | +22.6% |
| Financial charges | 65/66B | €10,021 | €8,200 | -€1,822 | -18.2% |
| Recurring financial charges | 65 | €10,021 | €8,200 | -€1,822 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €114,699 | €155,287 | +€40,588 | +35.4% |
| Income taxes | 67/77 | €33,935 | €51,676 | +€17,742 | +52.3% |
| Profit (loss) for the period | 9904 | €80,765 | €103,611 | +€22,847 | +28.3% |
| Profit (loss) for the period to be appropriated | 9905 | €80,765 | €103,611 | +€22,847 | +28.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.