BEL RU: 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 RU
Largest movements
- Receivables within one year +€1.1m
up €1.1m (+67.1%), from €1.6m to €2.7m
of which Trade receivables: +€1.1m
- Trade debts +€1.1m
up €1.1m (+71.3%), from €1.6m to €2.7m
- Profit (loss) carried forward -€49,076
down €49,076 (-30.0%), from -€163,352 to -€212,427
- Gross operating margin -€115,018
down €115,018, from €68,415 to -€46,604
- Other operating charges +€2,322
new in 2025: €2,322
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 | €1,667,128 | €2,764,633 | +€1.1m | +65.8% |
| Fixed assets | 21/28 | €29,200 | €29,200 | = | 0.0% |
| Financial fixed assets | 28 | €29,200 | €29,200 | = | 0.0% |
| Current assets | 29/58 | €1,637,928 | €2,735,433 | +€1.1m | +67.0% |
| Amounts receivable within one year | 40/41 | €1,636,726 | €2,735,135 | +€1.1m | +67.1% |
| Trade receivables | 40 | €1,629,347 | €2,726,290 | +€1.1m | +67.3% |
| Other amounts receivable | 41 | €7,379 | €8,845 | +€1,466 | +19.9% |
| Cash at bank and in hand | 54/58 | €908 | €4 | -€904 | -99.6% |
| Deferred charges and accrued income | 490/1 | €294 | €294 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,667,128 | €2,764,633 | +€1.1m | +65.8% |
| Equity | 10/15 | -€142,892 | -€191,967 | -€49,076 | -34.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€163,352 | -€212,427 | -€49,076 | -30.0% |
| Amounts payable | 17/49 | €1,810,020 | €2,956,600 | +€1.1m | +63.3% |
| Amounts payable within one year | 42/48 | €1,810,020 | €2,956,600 | +€1.1m | +63.3% |
| Trade debts | 44 | €1,599,849 | €2,740,263 | +€1.1m | +71.3% |
| Suppliers | 440/4 | €1,599,849 | €2,740,263 | +€1.1m | +71.3% |
| Taxes, remuneration and social security | 45 | €9,158 | €8,361 | -€797 | -8.7% |
| Taxes | 450/3 | €2,195 | €8,361 | +€6,166 | +281% |
| Remuneration and social security | 454/9 | €6,963 | - | -€6,963 | |
| Other amounts payable | 47/48 | €201,014 | €207,977 | +€6,963 | +3.5% |
| Other operating charges | 640/8 | - | €2,322 | +€2,322 | |
| Gross operating margin | 9900 | €68,415 | -€46,604 | -€115,018 | |
| Operating profit (loss) | 9901 | €68,415 | -€48,926 | -€117,340 | |
| Financial charges | 65/66B | €146 | €150 | +€4 | +3.1% |
| Recurring financial charges | 65 | €146 | €150 | +€4 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €68,269 | -€49,076 | -€117,345 | |
| Profit (loss) for the period | 9904 | €68,269 | -€49,076 | -€117,345 | |
| Profit (loss) for the period to be appropriated | 9905 | €68,269 | -€49,076 | -€117,345 |
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 19 October 2026 via checked.be.