BEL-LA-INOX: what changed
BEL-LA-INOX
Largest movements
- Tangible fixed assets -€7,609
down €7,609 (-26.2%), from €29,097 to €21,488
of which Furniture and vehicles: -€4,506
- Cash +€5,713
up €5,713 (+12.8%), from €44,749 to €50,462
mainly Net result for the year (+€8,308) and Depreciation (+€7,609)
- Other debts -€13,485
down €13,485 (-21.8%), from €61,962 to €48,477
- Profit (loss) carried forward +€8,308
up €8,308 (+29.6%), from -€28,092 to -€19,784
- Tax, wage and social debts +€5,632
up €5,632 (+58.2%), from €9,678 to €15,310
of which Remuneration and social security: +€7,433
- Trade debts -€2,477
down €2,477 (-17.1%), from €14,465 to €11,988
- Debts after one year -€2,240
down €2,240 (-17.6%), from €12,706 to €10,466
- Gross operating margin -€20,838
down €20,838 (-12.4%), from €167,486 to €146,648
- Depreciation -€14,733
down €14,733 (-65.9%), from €22,342 to €7,609
- Staff costs +€8,530
up €8,530 (+7.2%), from €118,102 to €126,632
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €79,033 | €77,006 | -€2,027 | -2.6% |
| Fixed assets | 21/28 | €29,097 | €21,488 | -€7,609 | -26.2% |
| Tangible fixed assets | 22/27 | €29,097 | €21,488 | -€7,609 | -26.2% |
| Plant, machinery and equipment | 23 | €8,852 | €6,396 | -€2,456 | -27.7% |
| Furniture and vehicles | 24 | €16,378 | €11,872 | -€4,506 | -27.5% |
| Other tangible fixed assets | 26 | €3,867 | €3,220 | -€647 | -16.7% |
| Current assets | 29/58 | €49,936 | €55,518 | +€5,582 | +11.2% |
| Stocks and contracts in progress | 3 | €4,300 | €4,304 | +€4 | +0.1% |
| Stocks | 30/36 | €4,300 | €4,304 | +€4 | +0.1% |
| Amounts receivable within one year | 40/41 | €575 | €460 | -€115 | -20.0% |
| Trade receivables | 40 | €575 | €408 | -€167 | -29.0% |
| Other amounts receivable | 41 | - | €52 | +€52 | |
| Cash at bank and in hand | 54/58 | €44,749 | €50,462 | +€5,713 | +12.8% |
| Deferred charges and accrued income | 490/1 | €312 | €292 | -€20 | -6.4% |
| Total equity and liabilities | 10/49 | €79,033 | €77,006 | -€2,027 | -2.6% |
| Equity | 10/15 | -€21,892 | -€13,584 | +€8,308 | +37.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,092 | -€19,784 | +€8,308 | +29.6% |
| Amounts payable | 17/49 | €100,925 | €90,590 | -€10,335 | -10.2% |
| Amounts payable after more than one year | 17 | €12,706 | €10,466 | -€2,240 | -17.6% |
| Financial debts | 170/4 | €12,706 | €10,466 | -€2,240 | -17.6% |
| Amounts payable within one year | 42/48 | €88,219 | €80,124 | -€8,095 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €2,114 | €4,349 | +€2,235 | +106% |
| Trade debts | 44 | €14,465 | €11,988 | -€2,477 | -17.1% |
| Suppliers | 440/4 | €14,465 | €11,988 | -€2,477 | -17.1% |
| Taxes, remuneration and social security | 45 | €9,678 | €15,310 | +€5,632 | +58.2% |
| Taxes | 450/3 | €5,965 | €4,164 | -€1,801 | -30.2% |
| Remuneration and social security | 454/9 | €3,713 | €11,146 | +€7,433 | +200% |
| Other amounts payable | 47/48 | €61,962 | €48,477 | -€13,485 | -21.8% |
| Non-recurring operating income | 76A | €124 | - | -€124 | |
| Remuneration, social security and pensions | 62 | €118,102 | €126,632 | +€8,530 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,342 | €7,609 | -€14,733 | -65.9% |
| Other operating charges | 640/8 | €619 | €629 | +€10 | +1.6% |
| Gross operating margin | 9900 | €167,486 | €146,648 | -€20,838 | -12.4% |
| Operating profit (loss) | 9901 | €26,423 | €11,778 | -€14,645 | -55.4% |
| Financial income | 75/76B | €276 | €7 | -€269 | -97.5% |
| Recurring financial income | 75 | €276 | €7 | -€269 | -97.5% |
| Financial charges | 65/66B | €2,183 | €2,879 | +€696 | +31.9% |
| Recurring financial charges | 65 | €2,183 | €2,879 | +€696 | +31.9% |
| Profit (loss) for the period before taxes | 9903 | €24,516 | €8,906 | -€15,610 | -63.7% |
| Income taxes | 67/77 | €82 | €598 | +€516 | +629% |
| Profit (loss) for the period | 9904 | €24,434 | €8,308 | -€16,126 | -66.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,434 | €8,308 | -€16,126 | -66.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.