BEL ADMIN: 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.
BEL ADMIN
Largest movements
- Receivables within one year +€25,219
up €25,219 (+28.7%), from €87,927 to €113,145
of which Other amounts receivable: +€22,428
- Cash +€16,829
up €16,829 (+91.1%), from €18,475 to €35,304
mainly Net result for the year (+€25,509) and Trade debts (+€20,813)
- Profit (loss) carried forward +€25,509
up €25,509 (+27.6%), from €92,366 to €117,875
- Trade debts +€20,813
up €20,813 (+783.2%), from €2,657 to €23,471
- Tax, wage and social debts -€2,636
no longer reported in 2025 (was €2,636)
- Current portion of long-term debt -€2,543
no longer reported in 2025 (was €2,543)
- Gross operating margin +€4,164
up €4,164 (+12.8%), from €32,573 to €36,737
- Other operating charges -€3,076
down €3,076 (-85.8%), from €3,586 to €510
- Financial income -€1,550
no longer reported in 2025 (was €1,550)
- Financial charges +€1,217
up €1,217 (+147.2%), from €827 to €2,045
- Taxes +€1,113
up €1,113 (+14.7%), from €7,560 to €8,673
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 | €106,401 | €148,449 | +€42,048 | +39.5% |
| Current assets | 29/58 | €106,401 | €148,449 | +€42,048 | +39.5% |
| Amounts receivable within one year | 40/41 | €87,927 | €113,145 | +€25,219 | +28.7% |
| Trade receivables | 40 | €48,741 | €51,532 | +€2,791 | +5.7% |
| Other amounts receivable | 41 | €39,186 | €61,614 | +€22,428 | +57.2% |
| Cash at bank and in hand | 54/58 | €18,475 | €35,304 | +€16,829 | +91.1% |
| Total equity and liabilities | 10/49 | €106,401 | €148,449 | +€42,048 | +39.5% |
| Equity | 10/15 | €98,566 | €124,075 | +€25,509 | +25.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,366 | €117,875 | +€25,509 | +27.6% |
| Amounts payable | 17/49 | €7,836 | €24,374 | +€16,539 | +211.1% |
| Amounts payable within one year | 42/48 | €7,836 | €24,374 | +€16,539 | +211.1% |
| Current portion of amounts payable after more than one year | 42 | €2,543 | - | -€2,543 | |
| Trade debts | 44 | €2,657 | €23,471 | +€20,813 | +783.2% |
| Suppliers | 440/4 | €2,657 | €23,471 | +€20,813 | +783.2% |
| Taxes, remuneration and social security | 45 | €2,636 | - | -€2,636 | |
| Taxes | 450/3 | €2,636 | - | -€2,636 | |
| Other amounts payable | 47/48 | - | €904 | +€904 | |
| Non-recurring operating income | 76A | €1,861 | €1,670 | -€191 | -10.3% |
| Other operating charges | 640/8 | €3,586 | €510 | -€3,076 | -85.8% |
| Non-recurring operating charges | 66A | €157 | - | -€157 | |
| Gross operating margin | 9900 | €32,573 | €36,737 | +€4,164 | +12.8% |
| Operating profit (loss) | 9901 | €28,829 | €36,227 | +€7,398 | +25.7% |
| Financial income | 75/76B | €1,550 | - | -€1,550 | |
| Recurring financial income | 75 | €1,550 | - | -€1,550 | |
| Financial charges | 65/66B | €827 | €2,045 | +€1,217 | +147.2% |
| Recurring financial charges | 65 | €827 | €2,045 | +€1,217 | +147.2% |
| Profit (loss) for the period before taxes | 9903 | €29,552 | €34,182 | +€4,630 | +15.7% |
| Income taxes | 67/77 | €7,560 | €8,673 | +€1,113 | +14.7% |
| Profit (loss) for the period | 9904 | €21,992 | €25,509 | +€3,517 | +16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,992 | €25,509 | +€3,517 | +16.0% |
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 10 October 2026 via checked.be.