VAN BELLEGEM: 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.
VAN BELLEGEM
Largest movements
- Cash +€265,892
up €265,892 (+1392.6%), from €19,093 to €284,985
mainly Net result for the year (+€193,564) and Investment in fixed assets (net) (+€73,600)
- Financial fixed assets -€74,900
down €74,900 (-98.2%), from €76,239 to €1,339
- Current investments -€11,425
down €11,425 (-5.9%), from €192,411 to €180,986
- Receivables within one year -€10,675
no longer reported in 2025 (was €10,675)
- Tangible fixed assets -€9,944
down €9,944 (-23.3%), from €42,585 to €32,642
of which Furniture and vehicles: -€6,574
- Reserves +€159,215
up €159,215 (+66.9%), from €237,850 to €397,065
- Tax, wage and social debts +€19,391
up €19,391 (+276.1%), from €7,023 to €26,415
of which Taxes: +€19,391
- Other debts -€18,656
no longer reported in 2025 (was €18,656)
- Financial income +€218,418
up €218,418 (+861.4%), from €25,355 to €243,772
- Financial charges -€80,160
down €80,160 (-93.5%), from €85,746 to €5,586
of which Non-recurring financial charges: -€84,263
- Taxes +€70,695
up €70,695 (+403.4%), from €17,523 to €88,219
- Gross operating margin -€10,040
down €10,040 (-14.6%), from €68,650 to €58,609
- Depreciation -€4,578
down €4,578 (-28.9%), from €15,822 to €11,244
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 | €343,507 | €504,024 | +€160,517 | +46.7% |
| Fixed assets | 21/28 | €118,824 | €33,980 | -€84,844 | -71.4% |
| Tangible fixed assets | 22/27 | €42,585 | €32,642 | -€9,944 | -23.3% |
| Land and buildings | 22 | €33,112 | €30,019 | -€3,093 | -9.3% |
| Plant, machinery and equipment | 23 | €315 | €38 | -€277 | -88.0% |
| Furniture and vehicles | 24 | €9,158 | €2,584 | -€6,574 | -71.8% |
| Financial fixed assets | 28 | €76,239 | €1,339 | -€74,900 | -98.2% |
| Current assets | 29/58 | €224,683 | €470,044 | +€245,361 | +109.2% |
| Amounts receivable within one year | 40/41 | €10,675 | - | -€10,675 | |
| Other amounts receivable | 41 | €10,675 | - | -€10,675 | |
| Current investments | 50/53 | €192,411 | €180,986 | -€11,425 | -5.9% |
| Cash at bank and in hand | 54/58 | €19,093 | €284,985 | +€265,892 | +1392.6% |
| Deferred charges and accrued income | 490/1 | €2,504 | €4,073 | +€1,569 | +62.7% |
| Total equity and liabilities | 10/49 | €343,507 | €504,024 | +€160,517 | +46.7% |
| Equity | 10/15 | €256,453 | €415,732 | +€159,279 | +62.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €237,850 | €397,065 | +€159,215 | +66.9% |
| Distributable reserves | 133 | €237,850 | €397,065 | +€159,215 | +66.9% |
| Profit (loss) carried forward | 14 | €3 | €67 | +€64 | +1868.6% |
| Provisions and deferred taxes | 16 | €55,107 | €55,107 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €55,107 | €55,107 | = | 0.0% |
| Pensions and similar obligations | 160 | €55,107 | €55,107 | = | 0.0% |
| Amounts payable | 17/49 | €31,947 | €33,185 | +€1,238 | +3.9% |
| Amounts payable within one year | 42/48 | €31,947 | €33,185 | +€1,238 | +3.9% |
| Trade debts | 44 | €6,267 | €6,770 | +€503 | +8.0% |
| Suppliers | 440/4 | €6,267 | €6,770 | +€503 | +8.0% |
| Taxes, remuneration and social security | 45 | €7,023 | €26,415 | +€19,391 | +276.1% |
| Taxes | 450/3 | €23 | €19,415 | +€19,391 | +82656.1% |
| Remuneration and social security | 454/9 | €7,000 | €7,000 | = | 0.0% |
| Other amounts payable | 47/48 | €18,656 | - | -€18,656 | |
| Non-recurring operating income | 76A | €11,326 | - | -€11,326 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,822 | €11,244 | -€4,578 | -28.9% |
| Other operating charges | 640/8 | €3,827 | €3,769 | -€58 | -1.5% |
| Gross operating margin | 9900 | €68,650 | €58,609 | -€10,040 | -14.6% |
| Operating profit (loss) | 9901 | €49,001 | €43,596 | -€5,404 | -11.0% |
| Financial income | 75/76B | €25,355 | €243,772 | +€218,418 | +861.4% |
| Recurring financial income | 75 | €25,355 | €243,772 | +€218,418 | +861.4% |
| Financial charges | 65/66B | €85,746 | €5,586 | -€80,160 | -93.5% |
| Recurring financial charges | 65 | €1,483 | €5,586 | +€4,103 | +276.7% |
| Non-recurring financial charges | 66B | €84,263 | - | -€84,263 | |
| Profit (loss) for the period before taxes | 9903 | -€11,390 | €281,782 | +€293,173 | |
| Income taxes | 67/77 | €17,523 | €88,219 | +€70,695 | +403.4% |
| Profit (loss) for the period | 9904 | -€28,914 | €193,564 | +€222,478 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,914 | €193,564 | +€222,478 |
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 8 October 2026 via checked.be.