BEELAERT: 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.
BEELAERT
Largest movements
- Tangible fixed assets -€326,002
down €326,002 (-78.4%), from €415,978 to €89,975
of which Other tangible fixed assets: -€193,338
- Cash +€208,383
up €208,383 (+121%), from €172,205 to €380,587
mainly Investment in fixed assets (net) (+€302,781) and Net result for the year (+€164,888)
- Receivables within one year -€56,287
down €56,287 (-47.6%), from €118,295 to €62,008
of which Trade receivables: -€45,702
- Current investments +€40,328
up €40,328 (+67.2%), from €60,000 to €100,328
- Deferred charges and accrued income -€23,412
down €23,412 (-95.4%), from €24,538 to €1,126
- Debts after one year -€206,323
no longer reported in 2025 (was €206,323)
- Reserves +€136,105
up €136,105 (+34.1%), from €398,973 to €535,078
of which Distributable reserves: +€136,105
- Profit (loss) carried forward -€38,217
no longer reported in 2025 (was €38,217)
- Trade debts -€36,804
down €36,804 (-57.3%), from €64,218 to €27,414
- Current portion of long-term debt -€24,819
no longer reported in 2025 (was €24,819)
- Gross operating margin +€93,306
up €93,306 (+55.7%), from €167,369 to €260,675
- Taxes +€32,177
up €32,177 (+82.1%), from €39,194 to €71,371
- Depreciation -€12,835
down €12,835 (-35.6%), from €36,057 to €23,222
- Financial income -€4,859
down €4,859 (-54.2%), from €8,967 to €4,107
of which Non-recurring financial income: -€3,000
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 | €837,194 | €670,238 | -€166,956 | -19.9% |
| Fixed assets | 21/28 | €415,978 | €89,975 | -€326,002 | -78.4% |
| Tangible fixed assets | 22/27 | €415,978 | €89,975 | -€326,002 | -78.4% |
| Land and buildings | 22 | €201,360 | €36,504 | -€164,856 | -81.9% |
| Furniture and vehicles | 24 | €8,273 | €40,465 | +€32,192 | +389% |
| Other tangible fixed assets | 26 | €206,345 | €13,007 | -€193,338 | -93.7% |
| Current assets | 29/58 | €421,216 | €580,263 | +€159,046 | +37.8% |
| Stocks and contracts in progress | 3 | €46,178 | €36,213 | -€9,966 | -21.6% |
| Stocks | 30/36 | €46,178 | €36,213 | -€9,966 | -21.6% |
| Amounts receivable within one year | 40/41 | €118,295 | €62,008 | -€56,287 | -47.6% |
| Trade receivables | 40 | €104,774 | €59,072 | -€45,702 | -43.6% |
| Other amounts receivable | 41 | €13,522 | €2,936 | -€10,586 | -78.3% |
| Current investments | 50/53 | €60,000 | €100,328 | +€40,328 | +67.2% |
| Cash at bank and in hand | 54/58 | €172,205 | €380,587 | +€208,383 | +121% |
| Deferred charges and accrued income | 490/1 | €24,538 | €1,126 | -€23,412 | -95.4% |
| Total equity and liabilities | 10/49 | €837,194 | €670,238 | -€166,956 | -19.9% |
| Equity | 10/15 | €472,190 | €570,078 | +€97,888 | +20.7% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Contributions outside capital | 11 | €35,000 | €35,000 | = | 0.0% |
| Share premium | 1100/10 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €398,973 | €535,078 | +€136,105 | +34.1% |
| Tax-exempt reserves | 132 | €6,401 | €6,401 | = | 0.0% |
| Distributable reserves | 133 | €392,572 | €528,677 | +€136,105 | +34.7% |
| Profit (loss) carried forward | 14 | €38,217 | - | -€38,217 | |
| Amounts payable | 17/49 | €365,004 | €100,160 | -€264,844 | -72.6% |
| Amounts payable after more than one year | 17 | €206,323 | - | -€206,323 | |
| Financial debts | 170/4 | €206,323 | - | -€206,323 | |
| Amounts payable within one year | 42/48 | €158,628 | €100,023 | -€58,605 | -36.9% |
| Current portion of amounts payable after more than one year | 42 | €24,819 | - | -€24,819 | |
| Trade debts | 44 | €64,218 | €27,414 | -€36,804 | -57.3% |
| Suppliers | 440/4 | €64,218 | €27,414 | -€36,804 | -57.3% |
| Advances received on contracts in progress | 46 | - | €100 | +€100 | |
| Taxes, remuneration and social security | 45 | €6,297 | €3,674 | -€2,623 | -41.7% |
| Taxes | 450/3 | €5,276 | €2,558 | -€2,718 | -51.5% |
| Remuneration and social security | 454/9 | €1,021 | €1,116 | +€95 | +9.3% |
| Other amounts payable | 47/48 | €63,295 | €68,836 | +€5,541 | +8.8% |
| Accrued charges and deferred income | 492/3 | €52 | €137 | +€85 | +163% |
| Non-recurring operating income | 76A | - | €118,200 | +€118,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,057 | €23,222 | -€12,835 | -35.6% |
| Other operating charges | 640/8 | €3,883 | €2,884 | -€999 | -25.7% |
| Gross operating margin | 9900 | €167,369 | €260,675 | +€93,306 | +55.7% |
| Operating profit (loss) | 9901 | €127,429 | €234,569 | +€107,140 | +84.1% |
| Financial income | 75/76B | €8,967 | €4,107 | -€4,859 | -54.2% |
| Recurring financial income | 75 | €5,967 | €4,107 | -€1,859 | -31.2% |
| Non-recurring financial income | 76B | €3,000 | - | -€3,000 | |
| Financial charges | 65/66B | €4,836 | €2,418 | -€2,419 | -50.0% |
| Recurring financial charges | 65 | €4,836 | €2,418 | -€2,419 | -50.0% |
| Profit (loss) for the period before taxes | 9903 | €131,559 | €236,259 | +€104,699 | +79.6% |
| Income taxes | 67/77 | €39,194 | €71,371 | +€32,177 | +82.1% |
| Profit (loss) for the period | 9904 | €92,365 | €164,888 | +€72,522 | +78.5% |
| Profit (loss) for the period to be appropriated | 9905 | €92,365 | €164,888 | +€72,522 | +78.5% |
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 17 October 2026 via checked.be.