BEL-TECH GROUP: 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-TECH GROUP
Largest movements
- Receivables within one year -€8,230
down €8,230 (-95.6%), from €8,606 to €376
- Tangible fixed assets -€2,720
down €2,720 (-51.7%), from €5,264 to €2,544
of which Plant, machinery and equipment: -€1,886
- Cash +€2,335
up €2,335 (+82.5%), from €2,829 to €5,163
mainly Receivables within one year (+€8,230) and Depreciation (+€3,154)
- Stocks and contracts -€1,843
no longer reported in 2025 (was €1,843)
- Intangible fixed assets -€433
down €433 (-80.6%), from €538 to €105
- Profit (loss) carried forward -€11,415
down €11,415, from €1,136 to -€10,280
- Tax, wage and social debts -€2,959
down €2,959 (-49.7%), from €5,954 to €2,995
- Trade debts +€2,002
up €2,002 (+54.1%), from €3,698 to €5,700
- Other debts +€1,845
up €1,845 (+153.8%), from €1,200 to €3,045
- Advances received -€455
down €455 (-6.5%), from €6,950 to €6,495
- Gross operating margin -€11,698
down €11,698, from €4,807 to -€6,891
- Financial charges +€514
up €514 (+206.0%), from €249 to €763
- Financial income -€143
down €143 (-98.3%), from €145 to €2
- Depreciation +€142
up €142 (+4.7%), from €3,011 to €3,154
- Other operating charges -€82
down €82 (-11.8%), from €692 to €610
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 | €19,187 | €8,205 | -€10,982 | -57.2% |
| Fixed assets | 21/28 | €5,802 | €2,648 | -€3,154 | -54.4% |
| Intangible fixed assets | 21 | €538 | €105 | -€433 | -80.6% |
| Tangible fixed assets | 22/27 | €5,264 | €2,544 | -€2,720 | -51.7% |
| Plant, machinery and equipment | 23 | €3,773 | €1,887 | -€1,886 | -50.0% |
| Furniture and vehicles | 24 | €1,491 | €657 | -€834 | -55.9% |
| Current assets | 29/58 | €13,385 | €5,557 | -€7,828 | -58.5% |
| Stocks and contracts in progress | 3 | €1,843 | - | -€1,843 | |
| Stocks | 30/36 | €1,843 | - | -€1,843 | |
| Amounts receivable within one year | 40/41 | €8,606 | €376 | -€8,230 | -95.6% |
| Trade receivables | 40 | €8,606 | €376 | -€8,230 | -95.6% |
| Cash at bank and in hand | 54/58 | €2,829 | €5,163 | +€2,335 | +82.5% |
| Deferred charges and accrued income | 490/1 | €107 | €17 | -€90 | -83.7% |
| Total equity and liabilities | 10/49 | €19,187 | €8,205 | -€10,982 | -57.2% |
| Equity | 10/15 | €1,386 | -€10,030 | -€11,415 | |
| Contributions | 10/11 | €250 | €250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,136 | -€10,280 | -€11,415 | |
| Amounts payable | 17/49 | €17,802 | €18,235 | +€433 | +2.4% |
| Amounts payable within one year | 42/48 | €17,802 | €18,235 | +€433 | +2.4% |
| Trade debts | 44 | €3,698 | €5,700 | +€2,002 | +54.1% |
| Suppliers | 440/4 | €3,698 | €5,700 | +€2,002 | +54.1% |
| Advances received on contracts in progress | 46 | €6,950 | €6,495 | -€455 | -6.5% |
| Taxes, remuneration and social security | 45 | €5,954 | €2,995 | -€2,959 | -49.7% |
| Taxes | 450/3 | €5,954 | €2,995 | -€2,959 | -49.7% |
| Other amounts payable | 47/48 | €1,200 | €3,045 | +€1,845 | +153.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,011 | €3,154 | +€142 | +4.7% |
| Other operating charges | 640/8 | €692 | €610 | -€82 | -11.8% |
| Gross operating margin | 9900 | €4,807 | -€6,891 | -€11,698 | |
| Operating profit (loss) | 9901 | €1,103 | -€10,655 | -€11,758 | |
| Financial income | 75/76B | €145 | €2 | -€143 | -98.3% |
| Recurring financial income | 75 | €145 | €2 | -€143 | -98.3% |
| Financial charges | 65/66B | €249 | €763 | +€514 | +206.0% |
| Recurring financial charges | 65 | €249 | €763 | +€514 | +206.0% |
| Profit (loss) for the period before taxes | 9903 | €999 | -€11,415 | -€12,414 | |
| Profit (loss) for the period | 9904 | €999 | -€11,415 | -€12,414 | |
| Profit (loss) for the period to be appropriated | 9905 | €999 | -€11,415 | -€12,414 |
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 3 October 2026 via checked.be.