Bel'Pom: 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'Pom
Largest movements
- Receivables within one year -€180,740
down €180,740 (-41.1%), from €439,994 to €259,254
of which Trade receivables: -€178,984
- Tangible fixed assets -€52,347
down €52,347 (-39.4%), from €132,894 to €80,547
of which Leasing and similar rights: -€45,240
- Cash -€21,638
down €21,638 (-59.8%), from €36,188 to €14,551
mainly Trade debts (-€290,902) and Debts after one year (-€18,367)
- Trade debts -€290,902
down €290,902 (-70.1%), from €414,977 to €124,075
- Profit (loss) carried forward +€55,276
up €55,276 (+58.3%), from €94,738 to €150,014
- Tax, wage and social debts +€36,803
up €36,803 (+244.8%), from €15,033 to €51,836
of which Remuneration and social security: +€28,865
- Debts after one year -€18,367
down €18,367 (-46.1%), from €39,850 to €21,484
- Current portion of long-term debt -€16,633
down €16,633 (-47.5%), from €35,000 to €18,367
- Staff costs +€35,216
up €35,216 (+15.4%), from €228,597 to €263,813
- Gross operating margin +€23,329
up €23,329 (+5.9%), from €398,464 to €421,793
- Other operating charges -€12,991
down €12,991 (-65.8%), from €19,737 to €6,747
- Write-downs +€9,768
up €9,768, from -€8,358 to €1,410
- Taxes +€7,671
up €7,671 (+4681.0%), from €164 to €7,835
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 | €747,887 | €496,603 | -€251,284 | -33.6% |
| Fixed assets | 21/28 | €136,528 | €82,843 | -€53,685 | -39.3% |
| Intangible fixed assets | 21 | €2,370 | €1,032 | -€1,338 | -56.5% |
| Tangible fixed assets | 22/27 | €132,894 | €80,547 | -€52,347 | -39.4% |
| Plant, machinery and equipment | 23 | €64,478 | €72,444 | +€7,966 | +12.4% |
| Furniture and vehicles | 24 | €23,176 | €8,103 | -€15,073 | -65.0% |
| Leasing and similar rights | 25 | €45,240 | - | -€45,240 | |
| Financial fixed assets | 28 | €1,264 | €1,264 | = | 0.0% |
| Current assets | 29/58 | €611,359 | €413,760 | -€197,599 | -32.3% |
| Stocks and contracts in progress | 3 | €127,652 | €132,904 | +€5,253 | +4.1% |
| Stocks | 30/36 | €127,652 | €132,904 | +€5,253 | +4.1% |
| Amounts receivable within one year | 40/41 | €439,994 | €259,254 | -€180,740 | -41.1% |
| Trade receivables | 40 | €418,169 | €239,184 | -€178,984 | -42.8% |
| Other amounts receivable | 41 | €21,825 | €20,070 | -€1,756 | -8.0% |
| Cash at bank and in hand | 54/58 | €36,188 | €14,551 | -€21,638 | -59.8% |
| Deferred charges and accrued income | 490/1 | €7,525 | €7,051 | -€474 | -6.3% |
| Total equity and liabilities | 10/49 | €747,887 | €496,603 | -€251,284 | -33.6% |
| Equity | 10/15 | €148,547 | €203,823 | +€55,276 | +37.2% |
| Contributions | 10/11 | €48,875 | €48,875 | = | 0.0% |
| Reserves | 13 | €4,887 | €4,887 | = | 0.0% |
| Distributable reserves | 133 | €4,887 | €4,887 | = | 0.0% |
| Profit (loss) carried forward | 14 | €94,738 | €150,014 | +€55,276 | +58.3% |
| Investment grants | 15 | €47 | €47 | = | 0.0% |
| Amounts payable | 17/49 | €599,340 | €292,780 | -€306,560 | -51.1% |
| Amounts payable after more than one year | 17 | €39,850 | €21,484 | -€18,367 | -46.1% |
| Financial debts | 170/4 | €39,850 | €21,484 | -€18,367 | -46.1% |
| Amounts payable within one year | 42/48 | €559,490 | €261,967 | -€297,523 | -53.2% |
| Current portion of amounts payable after more than one year | 42 | €35,000 | €18,367 | -€16,633 | -47.5% |
| Financial debts | 43 | €16,541 | €4,254 | -€12,287 | -74.3% |
| Credit institutions | 430/8 | €16,541 | €4,254 | -€12,287 | -74.3% |
| Trade debts | 44 | €414,977 | €124,075 | -€290,902 | -70.1% |
| Suppliers | 440/4 | €414,977 | €124,075 | -€290,902 | -70.1% |
| Taxes, remuneration and social security | 45 | €15,033 | €51,836 | +€36,803 | +244.8% |
| Taxes | 450/3 | €1,468 | €9,405 | +€7,938 | +540.8% |
| Remuneration and social security | 454/9 | €13,566 | €42,431 | +€28,865 | +212.8% |
| Other amounts payable | 47/48 | €77,939 | €63,435 | -€14,504 | -18.6% |
| Accrued charges and deferred income | 492/3 | - | €9,329 | +€9,329 | |
| Remuneration, social security and pensions | 62 | €228,597 | €263,813 | +€35,216 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,710 | €62,115 | -€7,595 | -10.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€8,358 | €1,410 | +€9,768 | |
| Other operating charges | 640/8 | €19,737 | €6,747 | -€12,991 | -65.8% |
| Non-recurring operating charges | 66A | €1,916 | - | -€1,916 | |
| Gross operating margin | 9900 | €398,464 | €421,793 | +€23,329 | +5.9% |
| Operating profit (loss) | 9901 | €86,862 | €87,709 | +€846 | +1.0% |
| Financial income | 75/76B | €609 | €942 | +€333 | +54.7% |
| Recurring financial income | 75 | €609 | €942 | +€333 | +54.7% |
| Financial charges | 65/66B | €22,008 | €25,540 | +€3,531 | +16.0% |
| Recurring financial charges | 65 | €22,008 | €25,540 | +€3,531 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | €65,463 | €63,111 | -€2,352 | -3.6% |
| Income taxes | 67/77 | €164 | €7,835 | +€7,671 | +4681.0% |
| Profit (loss) for the period | 9904 | €65,299 | €55,276 | -€10,023 | -15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €65,299 | €55,276 | -€10,023 | -15.3% |
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 10 October 2026 via checked.be.