BEL-BUY: 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-BUY
Largest movements
- Receivables within one year +€586,271
up €586,271 (+57.2%), from €1.0m to €1.6m
of which Trade receivables: +€448,749
- Tangible fixed assets +€543,184
up €543,184 (+3,932%), from €13,814 to €556,998
of which Land and buildings: +€447,699
- Cash +€99,562
up €99,562 (+72.0%), from €138,195 to €237,757
mainly Trade debts (+€646,561) and Debts after one year (+€423,235)
- Trade debts +€646,561
up €646,561 (+94.1%), from €687,320 to €1.3m
- Debts after one year +€423,235
new in 2025: €423,235
- Profit (loss) carried forward +€150,691
up €150,691 (+32.6%), from €461,582 to €612,273
- Gross operating margin +€79,088
up €79,088 (+23.0%), from €343,621 to €422,709
- Depreciation +€73,344
up €73,344 (+1,897%), from €3,867 to €77,211
- Other operating charges -€11,918
down €11,918 (-89.3%), from €13,350 to €1,433
- Staff costs +€6,432
up €6,432 (+8.1%), from €79,756 to €86,188
- Financial charges +€4,419
up €4,419 (+6.8%), from €65,337 to €69,756
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 | €1,176,985 | €2,419,410 | +€1.2m | +106% |
| Fixed assets | 21/28 | €13,814 | €569,052 | +€555,238 | +4,019% |
| Intangible fixed assets | 21 | - | €12,054 | +€12,054 | |
| Tangible fixed assets | 22/27 | €13,814 | €556,998 | +€543,184 | +3,932% |
| Land and buildings | 22 | - | €447,699 | +€447,699 | |
| Plant, machinery and equipment | 23 | €343 | €196 | -€147 | -43.0% |
| Furniture and vehicles | 24 | €12,773 | €57,917 | +€45,144 | +353% |
| Other tangible fixed assets | 26 | €699 | €51,187 | +€50,489 | +7,227% |
| Current assets | 29/58 | €1,163,171 | €1,850,358 | +€687,187 | +59.1% |
| Amounts receivable within one year | 40/41 | €1,024,617 | €1,610,888 | +€586,271 | +57.2% |
| Trade receivables | 40 | €913,313 | €1,362,062 | +€448,749 | +49.1% |
| Other amounts receivable | 41 | €111,304 | €248,826 | +€137,521 | +124% |
| Cash at bank and in hand | 54/58 | €138,195 | €237,757 | +€99,562 | +72.0% |
| Deferred charges and accrued income | 490/1 | €359 | €1,713 | +€1,354 | +377% |
| Total equity and liabilities | 10/49 | €1,176,985 | €2,419,410 | +€1.2m | +106% |
| Equity | 10/15 | €476,582 | €627,273 | +€150,691 | +31.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €461,582 | €612,273 | +€150,691 | +32.6% |
| Amounts payable | 17/49 | €700,403 | €1,792,137 | +€1.1m | +156% |
| Amounts payable after more than one year | 17 | - | €423,235 | +€423,235 | |
| Financial debts | 170/4 | - | €423,235 | +€423,235 | |
| Amounts payable within one year | 42/48 | €700,403 | €1,368,178 | +€667,774 | +95.3% |
| Current portion of amounts payable after more than one year | 42 | €9,671 | €23,018 | +€13,347 | +138% |
| Trade debts | 44 | €687,320 | €1,333,880 | +€646,561 | +94.1% |
| Suppliers | 440/4 | €687,320 | €1,333,880 | +€646,561 | +94.1% |
| Taxes, remuneration and social security | 45 | €3,412 | €11,279 | +€7,866 | +231% |
| Taxes | 450/3 | €5 | - | -€5 | |
| Remuneration and social security | 454/9 | €3,407 | €11,279 | +€7,871 | +231% |
| Accrued charges and deferred income | 492/3 | - | €725 | +€725 | |
| Remuneration, social security and pensions | 62 | €79,756 | €86,188 | +€6,432 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,867 | €77,211 | +€73,344 | +1,897% |
| Other operating charges | 640/8 | €13,350 | €1,433 | -€11,918 | -89.3% |
| Gross operating margin | 9900 | €343,621 | €422,709 | +€79,088 | +23.0% |
| Operating profit (loss) | 9901 | €246,648 | €257,878 | +€11,230 | +4.6% |
| Financial income | 75/76B | €15,931 | €15,443 | -€489 | -3.1% |
| Recurring financial income | 75 | €15,931 | €15,443 | -€489 | -3.1% |
| Financial charges | 65/66B | €65,337 | €69,756 | +€4,419 | +6.8% |
| Recurring financial charges | 65 | €65,337 | €69,756 | +€4,419 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €197,243 | €203,565 | +€6,322 | +3.2% |
| Income taxes | 67/77 | €51,909 | €52,874 | +€965 | +1.9% |
| Profit (loss) for the period | 9904 | €145,333 | €150,691 | +€5,357 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €145,333 | €150,691 | +€5,357 | +3.7% |
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 29 October 2026 via checked.be.