BALNELUX: 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.
BALNELUX
Largest movements
- Cash -€9,104
down €9,104 (-41.6%), from €21,877 to €12,773
mainly Trade debts (-€12,147) and Investment in fixed assets (net) (-€11,116)
- Receivables within one year +€5,937
up €5,937 (+8.8%), from €67,309 to €73,246
of which Other amounts receivable: +€5,937
- Receivables after one year -€4,667
down €4,667 (-8.8%), from €52,803 to €48,137
- Tangible fixed assets +€2,196
up €2,196 (+12.3%), from €17,870 to €20,066
of which Plant, machinery and equipment: +€7,576
- Trade debts -€12,147
down €12,147 (-59.7%), from €20,331 to €8,184
- Reserves +€9,090
new in 2025: €9,090
- Debts after one year +€4,859
up €4,859 (+54.3%), from €8,941 to €13,800
- Tax, wage and social debts -€4,344
down €4,344 (-66.0%), from €6,579 to €2,235
- Current portion of long-term debt -€2,175
down €2,175 (-21.5%), from €10,100 to €7,924
- Gross operating margin +€18,200
up €18,200 (+113%), from €16,172 to €34,372
- Taxes +€5,949
new in 2025: €5,949
- Depreciation -€5,407
down €5,407 (-37.7%), from €14,327 to €8,920
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 | €160,860 | €155,222 | -€5,638 | -3.5% |
| Fixed assets | 21/28 | €18,870 | €21,066 | +€2,196 | +11.6% |
| Tangible fixed assets | 22/27 | €17,870 | €20,066 | +€2,196 | +12.3% |
| Plant, machinery and equipment | 23 | €12,490 | €20,066 | +€7,576 | +60.7% |
| Furniture and vehicles | 24 | €5,380 | - | -€5,380 | |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €141,990 | €134,156 | -€7,834 | -5.5% |
| Amounts receivable after more than one year | 29 | €52,803 | €48,137 | -€4,667 | -8.8% |
| Other amounts receivable | 291 | €52,803 | €48,137 | -€4,667 | -8.8% |
| Amounts receivable within one year | 40/41 | €67,309 | €73,246 | +€5,937 | +8.8% |
| Trade receivables | 40 | €37,482 | €37,482 | +€0 | 0.0% |
| Other amounts receivable | 41 | €29,827 | €35,764 | +€5,937 | +19.9% |
| Cash at bank and in hand | 54/58 | €21,877 | €12,773 | -€9,104 | -41.6% |
| Total equity and liabilities | 10/49 | €160,860 | €155,222 | -€5,638 | -3.5% |
| Equity | 10/15 | €113,909 | €123,079 | +€9,170 | +8.1% |
| Contributions | 10/11 | €8,200 | €8,200 | = | 0.0% |
| Reserves | 13 | - | €9,090 | +€9,090 | |
| Distributable reserves | 133 | - | €9,090 | +€9,090 | |
| Profit (loss) carried forward | 14 | €105,709 | €105,789 | +€80 | +0.1% |
| Amounts payable | 17/49 | €46,951 | €32,143 | -€14,808 | -31.5% |
| Amounts payable after more than one year | 17 | €8,941 | €13,800 | +€4,859 | +54.3% |
| Financial debts | 170/4 | €8,941 | €13,800 | +€4,859 | +54.3% |
| Amounts payable within one year | 42/48 | €37,010 | €18,343 | -€18,667 | -50.4% |
| Current portion of amounts payable after more than one year | 42 | €10,100 | €7,924 | -€2,175 | -21.5% |
| Trade debts | 44 | €20,331 | €8,184 | -€12,147 | -59.7% |
| Suppliers | 440/4 | €20,331 | €8,184 | -€12,147 | -59.7% |
| Taxes, remuneration and social security | 45 | €6,579 | €2,235 | -€4,344 | -66.0% |
| Taxes | 450/3 | €6,579 | €2,235 | -€4,344 | -66.0% |
| Accrued charges and deferred income | 492/3 | €1,000 | - | -€1,000 | |
| Non-recurring operating income | 76A | €4,000 | - | -€4,000 | |
| Remuneration, social security and pensions | 62 | €126 | - | -€126 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,327 | €8,920 | -€5,407 | -37.7% |
| Other operating charges | 640/8 | €1,310 | €1,588 | +€278 | +21.3% |
| Non-recurring operating charges | 66A | - | €8,209 | +€8,209 | |
| Gross operating margin | 9900 | €16,172 | €34,372 | +€18,200 | +113% |
| Operating profit (loss) | 9901 | €409 | €15,655 | +€15,246 | +3,724% |
| Financial income | 75/76B | €1,112 | €1,081 | -€31 | -2.8% |
| Recurring financial income | 75 | €1,112 | €1,081 | -€31 | -2.8% |
| Financial charges | 65/66B | €1,787 | €1,617 | -€169 | -9.5% |
| Recurring financial charges | 65 | €1,787 | €1,617 | -€169 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | -€265 | €15,119 | +€15,385 | |
| Income taxes | 67/77 | - | €5,949 | +€5,949 | |
| Profit (loss) for the period | 9904 | -€265 | €9,170 | +€9,436 | |
| Profit (loss) for the period to be appropriated | 9905 | -€265 | €9,170 | +€9,436 |
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 25 October 2026 via checked.be.