BEL CONSULTING: 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 CONSULTING
Largest movements
- Cash +€190,710
up €190,710 (+1507.4%), from €12,652 to €203,362
mainly Current investments (+€182,843) and Depreciation (+€34,001)
- Current investments -€182,843
down €182,843 (-64.4%), from €283,729 to €100,886
- Tangible fixed assets -€34,001
down €34,001 (-10.5%), from €325,119 to €291,118
of which Other tangible fixed assets: -€24,617
- Profit (loss) carried forward -€34,500
down €34,500 (-10.9%), from €316,446 to €281,946
- Depreciation -€9,384
down €9,384 (-21.6%), from €43,384 to €34,001
- Financial income -€3,252
down €3,252 (-36.4%), from €8,938 to €5,686
- Gross operating margin +€3,017
up €3,017 (+50.8%), from €5,935 to €8,952
- Other operating charges -€1,262
down €1,262 (-12.8%), from €9,860 to €8,599
- Taxes +€376
up €376, from -€128 to €249
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 | €627,387 | €603,206 | -€24,181 | -3.9% |
| Fixed assets | 21/28 | €325,119 | €291,118 | -€34,001 | -10.5% |
| Tangible fixed assets | 22/27 | €325,119 | €291,118 | -€34,001 | -10.5% |
| Land and buildings | 22 | €56,250 | €56,250 | = | 0.0% |
| Furniture and vehicles | 24 | €9,384 | €0 | -€9,384 | -100.0% |
| Other tangible fixed assets | 26 | €259,485 | €234,868 | -€24,617 | -9.5% |
| Current assets | 29/58 | €302,268 | €312,087 | +€9,820 | +3.2% |
| Amounts receivable within one year | 40/41 | €3,069 | €4,921 | +€1,852 | +60.3% |
| Trade receivables | 40 | - | €633 | +€633 | |
| Other amounts receivable | 41 | €3,069 | €4,288 | +€1,219 | +39.7% |
| Current investments | 50/53 | €283,729 | €100,886 | -€182,843 | -64.4% |
| Cash at bank and in hand | 54/58 | €12,652 | €203,362 | +€190,710 | +1507.4% |
| Deferred charges and accrued income | 490/1 | €2,817 | €2,919 | +€101 | +3.6% |
| Total equity and liabilities | 10/49 | €627,387 | €603,206 | -€24,181 | -3.9% |
| Equity | 10/15 | €522,225 | €487,725 | -€34,500 | -6.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €199,578 | €199,578 | = | 0.0% |
| Distributable reserves | 133 | €199,578 | €199,578 | = | 0.0% |
| Profit (loss) carried forward | 14 | €316,446 | €281,946 | -€34,500 | -10.9% |
| Amounts payable | 17/49 | €105,162 | €115,481 | +€10,319 | +9.8% |
| Amounts payable within one year | 42/48 | €90,772 | €97,032 | +€6,260 | +6.9% |
| Financial debts | 43 | €87,243 | €93,403 | +€6,160 | +7.1% |
| Other loans | 439 | €87,243 | €93,403 | +€6,160 | +7.1% |
| Trade debts | 44 | €1,128 | €1,228 | +€100 | +8.9% |
| Suppliers | 440/4 | €1,128 | €1,228 | +€100 | +8.9% |
| Other amounts payable | 47/48 | €2,400 | €2,400 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €14,390 | €18,449 | +€4,059 | +28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,384 | €34,001 | -€9,384 | -21.6% |
| Other operating charges | 640/8 | €9,860 | €8,599 | -€1,262 | -12.8% |
| Gross operating margin | 9900 | €5,935 | €8,952 | +€3,017 | +50.8% |
| Operating profit (loss) | 9901 | -€47,310 | -€33,647 | +€13,663 | +28.9% |
| Financial income | 75/76B | €8,938 | €5,686 | -€3,252 | -36.4% |
| Recurring financial income | 75 | €8,938 | €5,686 | -€3,252 | -36.4% |
| Financial charges | 65/66B | €6,631 | €6,291 | -€341 | -5.1% |
| Recurring financial charges | 65 | €6,631 | €6,291 | -€341 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | -€45,003 | -€34,251 | +€10,752 | +23.9% |
| Income taxes | 67/77 | -€128 | €249 | +€376 | |
| Profit (loss) for the period | 9904 | -€44,876 | -€34,500 | +€10,376 | +23.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,876 | -€34,500 | +€10,376 | +23.1% |
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 29 September 2026 via checked.be.