BEL 963: 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.
BEL 963
Largest movements
- Receivables within one year -€126,889
down €126,889 (-88.2%), from €143,862 to €16,974
of which Trade receivables: -€128,115
- Tangible fixed assets -€38,851
down €38,851 (-13.4%), from €289,913 to €251,062
of which Land and buildings: -€38,887
- Cash +€9,740
up €9,740 (+46.0%), from €21,158 to €30,898
mainly Receivables within one year (+€126,889) and Depreciation (+€40,625)
- Profit (loss) carried forward -€70,760
down €70,760, from €33,191 to -€37,569
- Debts after one year -€34,046
down €34,046 (-11.9%), from €286,666 to €252,620
of which Financial debts: -€46,496
- Accrued charges and deferred income -€29,000
no longer reported in 2025 (was €29,000)
- Tax, wage and social debts -€11,393
down €11,393 (-71.1%), from €16,020 to €4,626
of which Taxes: -€11,731
- Trade debts -€9,008
down €9,008 (-8.5%), from €105,798 to €96,789
- Write-downs +€62,903
new in 2025: €62,903
- Gross operating margin -€12,481
down €12,481 (-16.1%), from €77,379 to €64,898
- Staff costs -€6,943
down €6,943 (-23.5%), from €29,605 to €22,662
- Financial charges +€4,187
up €4,187 (+69.7%), from €6,010 to €10,197
- Other operating charges -€1,443
down €1,443 (-87.5%), from €1,649 to €206
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 | €582,982 | €424,449 | -€158,533 | -27.2% |
| Fixed assets | 21/28 | €290,243 | €251,392 | -€38,851 | -13.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €289,913 | €251,062 | -€38,851 | -13.4% |
| Land and buildings | 22 | €288,323 | €249,436 | -€38,887 | -13.5% |
| Plant, machinery and equipment | 23 | €334 | €334 | = | 0.0% |
| Furniture and vehicles | 24 | €1,255 | €1,292 | +€36 | +2.9% |
| Financial fixed assets | 28 | €330 | €330 | = | 0.0% |
| Current assets | 29/58 | €292,739 | €173,057 | -€119,682 | -40.9% |
| Stocks and contracts in progress | 3 | €127,405 | €124,872 | -€2,533 | -2.0% |
| Stocks | 30/36 | €127,405 | €124,872 | -€2,533 | -2.0% |
| Amounts receivable within one year | 40/41 | €143,862 | €16,974 | -€126,889 | -88.2% |
| Trade receivables | 40 | €143,089 | €14,973 | -€128,115 | -89.5% |
| Other amounts receivable | 41 | €774 | €2,000 | +€1,227 | +158.5% |
| Cash at bank and in hand | 54/58 | €21,158 | €30,898 | +€9,740 | +46.0% |
| Deferred charges and accrued income | 490/1 | €313 | €313 | = | 0.0% |
| Total equity and liabilities | 10/49 | €582,982 | €424,449 | -€158,533 | -27.2% |
| Equity | 10/15 | €98,596 | €27,836 | -€70,760 | -71.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €46,855 | €46,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,191 | -€37,569 | -€70,760 | |
| Amounts payable | 17/49 | €484,386 | €396,613 | -€87,773 | -18.1% |
| Amounts payable after more than one year | 17 | €286,666 | €252,620 | -€34,046 | -11.9% |
| Financial debts | 170/4 | €192,793 | €146,297 | -€46,496 | -24.1% |
| Other amounts payable | 178/9 | €93,873 | €106,323 | +€12,450 | +13.3% |
| Amounts payable within one year | 42/48 | €168,719 | €143,993 | -€24,727 | -14.7% |
| Current portion of amounts payable after more than one year | 42 | €41,902 | €42,577 | +€675 | +1.6% |
| Trade debts | 44 | €105,798 | €96,789 | -€9,008 | -8.5% |
| Suppliers | 440/4 | €105,798 | €96,789 | -€9,008 | -8.5% |
| Advances received on contracts in progress | 46 | €5,000 | - | -€5,000 | |
| Taxes, remuneration and social security | 45 | €16,020 | €4,626 | -€11,393 | -71.1% |
| Taxes | 450/3 | €11,798 | €67 | -€11,731 | -99.4% |
| Remuneration and social security | 454/9 | €4,221 | €4,560 | +€338 | +8.0% |
| Accrued charges and deferred income | 492/3 | €29,000 | - | -€29,000 | |
| Remuneration, social security and pensions | 62 | €29,605 | €22,662 | -€6,943 | -23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,151 | €40,625 | +€474 | +1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €62,903 | +€62,903 | |
| Other operating charges | 640/8 | €1,649 | €206 | -€1,443 | -87.5% |
| Gross operating margin | 9900 | €77,379 | €64,898 | -€12,481 | -16.1% |
| Operating profit (loss) | 9901 | €5,974 | -€61,498 | -€67,473 | |
| Financial income | 75/76B | €51 | €936 | +€885 | +1743.8% |
| Recurring financial income | 75 | €51 | €936 | +€885 | +1743.8% |
| Financial charges | 65/66B | €6,010 | €10,197 | +€4,187 | +69.7% |
| Recurring financial charges | 65 | €6,010 | €10,197 | +€4,187 | +69.7% |
| Profit (loss) for the period before taxes | 9903 | €15 | -€70,760 | -€70,775 | |
| Profit (loss) for the period | 9904 | €15 | -€70,760 | -€70,775 | |
| Profit (loss) for the period to be appropriated | 9905 | €15 | -€70,760 | -€70,775 |
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 6 October 2026 via checked.be.