BEL LIGHTING: 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 LIGHTING
Largest movements
- Cash -€347,409
down €347,409 (-38.5%), from €903,522 to €556,113
mainly Contributions, distributions and other (-€315,000) and Current investments (-€263,055)
- Current investments +€263,055
up €263,055 (+53.9%), from €488,023 to €751,078
- Receivables within one year -€115,499
down €115,499 (-34.3%), from €336,604 to €221,105
of which Trade receivables: -€59,106
- Reserves -€315,000
down €315,000 (-54.8%), from €574,850 to €259,850
of which Distributable reserves: -€315,000
- Other debts +€138,846
up €138,846 (+77.1%), from €180,000 to €318,846
- Profit (loss) carried forward -€38,200
down €38,200 (-3.3%), from €1.2m to €1.1m
- Trade debts +€27,326
up €27,326 (+16.6%), from €164,944 to €192,270
- Gross operating margin -€31,027
down €31,027 (-9.6%), from €323,143 to €292,116
- Staff costs -€25,251
down €25,251 (-8.2%), from €308,656 to €283,405
- Other operating charges +€8,585
up €8,585 (+84.8%), from €10,130 to €18,715
- Financial income -€6,981
down €6,981 (-57.4%), from €12,159 to €5,178
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 | €2,156,799 | €1,960,470 | -€196,329 | -9.1% |
| Fixed assets | 21/28 | €125,684 | €131,179 | +€5,495 | +4.4% |
| Tangible fixed assets | 22/27 | €125,260 | €130,755 | +€5,495 | +4.4% |
| Land and buildings | 22 | €86,289 | €86,289 | = | 0.0% |
| Plant, machinery and equipment | 23 | €109 | €13,436 | +€13,326 | +12181.2% |
| Furniture and vehicles | 24 | €852 | €0 | -€852 | -100.0% |
| Other tangible fixed assets | 26 | €38,009 | €31,030 | -€6,979 | -18.4% |
| Financial fixed assets | 28 | €424 | €424 | = | 0.0% |
| Current assets | 29/58 | €2,031,115 | €1,829,291 | -€201,824 | -9.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €298,029 | €288,507 | -€9,522 | -3.2% |
| Stocks | 30/36 | €298,029 | €288,507 | -€9,522 | -3.2% |
| Amounts receivable within one year | 40/41 | €336,604 | €221,105 | -€115,499 | -34.3% |
| Trade receivables | 40 | €171,001 | €111,894 | -€59,106 | -34.6% |
| Other amounts receivable | 41 | €165,603 | €109,211 | -€56,392 | -34.1% |
| Current investments | 50/53 | €488,023 | €751,078 | +€263,055 | +53.9% |
| Cash at bank and in hand | 54/58 | €903,522 | €556,113 | -€347,409 | -38.5% |
| Deferred charges and accrued income | 490/1 | €4,937 | €12,489 | +€7,551 | +152.9% |
| Total equity and liabilities | 10/49 | €2,156,799 | €1,960,470 | -€196,329 | -9.1% |
| Equity | 10/15 | €1,782,360 | €1,429,161 | -€353,200 | -19.8% |
| Contributions | 10/11 | €56,000 | €56,000 | = | 0.0% |
| Reserves | 13 | €574,850 | €259,850 | -€315,000 | -54.8% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €518,600 | €203,600 | -€315,000 | -60.7% |
| Profit (loss) carried forward | 14 | €1,151,510 | €1,113,311 | -€38,200 | -3.3% |
| Amounts payable | 17/49 | €374,439 | €531,310 | +€156,871 | +41.9% |
| Amounts payable within one year | 42/48 | €374,439 | €531,310 | +€156,871 | +41.9% |
| Trade debts | 44 | €164,944 | €192,270 | +€27,326 | +16.6% |
| Suppliers | 440/4 | €164,944 | €192,270 | +€27,326 | +16.6% |
| Advances received on contracts in progress | 46 | €7,555 | €0 | -€7,555 | -100.0% |
| Taxes, remuneration and social security | 45 | €21,939 | €20,193 | -€1,746 | -8.0% |
| Taxes | 450/3 | €4,744 | €3,737 | -€1,007 | -21.2% |
| Remuneration and social security | 454/9 | €17,195 | €16,456 | -€739 | -4.3% |
| Other amounts payable | 47/48 | €180,000 | €318,846 | +€138,846 | +77.1% |
| Remuneration, social security and pensions | 62 | €308,656 | €283,405 | -€25,251 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,258 | €10,505 | +€2,247 | +27.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €82 | +€82 | |
| Other operating charges | 640/8 | €10,130 | €18,715 | +€8,585 | +84.8% |
| Non-recurring operating charges | 66A | €157 | €0 | -€157 | -100.0% |
| Gross operating margin | 9900 | €323,143 | €292,116 | -€31,027 | -9.6% |
| Operating profit (loss) | 9901 | -€4,057 | -€20,591 | -€16,533 | -407.5% |
| Financial income | 75/76B | €12,159 | €5,178 | -€6,981 | -57.4% |
| Recurring financial income | 75 | €12,159 | €5,178 | -€6,981 | -57.4% |
| Financial charges | 65/66B | €23,936 | €21,524 | -€2,411 | -10.1% |
| Recurring financial charges | 65 | €23,936 | €21,524 | -€2,411 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | -€15,835 | -€36,937 | -€21,103 | -133.3% |
| Income taxes | 67/77 | €1,369 | €1,262 | -€106 | -7.7% |
| Profit (loss) for the period | 9904 | -€17,203 | -€38,200 | -€20,997 | -122.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,203 | -€38,200 | -€20,997 | -122.1% |
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 8 October 2026 via checked.be.