Bel-Mach: 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-Mach
Largest movements
- Cash +€5,226
up €5,226 (+233%), from €2,240 to €7,466
mainly Other debts (+€5,636) and Trade debts (+€3,591)
- Receivables within one year +€1,440
up €1,440 (+179%), from €803 to €2,243
of which Trade receivables: +€1,399
- Stocks and contracts -€337
down €337 (-25.2%), from €1,337 to €1,000
- Other debts +€5,636
up €5,636 (+31.8%), from €17,750 to €23,386
- Profit (loss) carried forward -€5,133
down €5,133 (-19.4%), from -€26,423 to -€31,556
- Trade debts +€3,591
up €3,591 (+104%), from €3,448 to €7,038
- Tax, wage and social debts +€2,228
up €2,228 (+64.9%), from €3,435 to €5,662
- Gross operating margin -€10,249
down €10,249, from €6,526 to -€3,723
- Depreciation -€684
down €684 (-100%), from €684 to €0
- Other operating charges +€408
up €408 (+45.7%), from €892 to €1,300
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 | €5,761 | €12,082 | +€6,321 | +110% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €5,761 | €12,082 | +€6,321 | +110% |
| Stocks and contracts in progress | 3 | €1,337 | €1,000 | -€337 | -25.2% |
| Stocks | 30/36 | €1,337 | €1,000 | -€337 | -25.2% |
| Amounts receivable within one year | 40/41 | €803 | €2,243 | +€1,440 | +179% |
| Trade receivables | 40 | €678 | €2,076 | +€1,399 | +206% |
| Other amounts receivable | 41 | €125 | €166 | +€41 | +32.7% |
| Cash at bank and in hand | 54/58 | €2,240 | €7,466 | +€5,226 | +233% |
| Deferred charges and accrued income | 490/1 | €1,381 | €1,373 | -€8 | -0.5% |
| Total equity and liabilities | 10/49 | €5,761 | €12,082 | +€6,321 | +110% |
| Equity | 10/15 | -€18,872 | -€24,005 | -€5,133 | -27.2% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €7,051 | €7,051 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,051 | €1,051 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,051 | €1,051 | = | 0.0% |
| Distributable reserves | 133 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,423 | -€31,556 | -€5,133 | -19.4% |
| Amounts payable | 17/49 | €24,632 | €36,087 | +€11,455 | +46.5% |
| Amounts payable within one year | 42/48 | €24,632 | €36,087 | +€11,455 | +46.5% |
| Trade debts | 44 | €3,448 | €7,038 | +€3,591 | +104% |
| Suppliers | 440/4 | €3,448 | €7,038 | +€3,591 | +104% |
| Taxes, remuneration and social security | 45 | €3,435 | €5,662 | +€2,228 | +64.9% |
| Taxes | 450/3 | €3,435 | €5,662 | +€2,228 | +64.9% |
| Other amounts payable | 47/48 | €17,750 | €23,386 | +€5,636 | +31.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €684 | €0 | -€684 | -100% |
| Other operating charges | 640/8 | €892 | €1,300 | +€408 | +45.7% |
| Gross operating margin | 9900 | €6,526 | -€3,723 | -€10,249 | |
| Operating profit (loss) | 9901 | €4,950 | -€5,023 | -€9,973 | |
| Financial income | 75/76B | €3 | €3 | +€0 | +4.7% |
| Recurring financial income | 75 | €3 | €3 | +€0 | +4.7% |
| Financial charges | 65/66B | €110 | €113 | +€3 | +3.1% |
| Recurring financial charges | 65 | €110 | €113 | +€3 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €4,843 | -€5,133 | -€9,976 | |
| Profit (loss) for the period | 9904 | €4,843 | -€5,133 | -€9,976 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,843 | -€5,133 | -€9,976 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.