BEL - TECHNOLOGIES: 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 - TECHNOLOGIES
Largest movements
- Receivables within one year -€95,293
down €95,293 (-59.7%), from €159,695 to €64,402
of which Trade receivables: -€101,444
- Cash +€51,501
up €51,501 (+11.9%), from €432,019 to €483,520
mainly Receivables within one year (+€95,293) and Net result for the year (+€52,143)
- Trade debts -€70,409
down €70,409 (-71.7%), from €98,150 to €27,741
- Reserves +€52,143
up €52,143 (+13.1%), from €396,627 to €448,770
of which Distributable reserves: +€52,143
- Tax, wage and social debts -€28,455
down €28,455 (-69.8%), from €40,787 to €12,332
- Gross operating margin -€55,519
down €55,519 (-39.0%), from €142,220 to €86,701
- Taxes -€17,597
down €17,597 (-39.1%), from €44,998 to €27,401
- Financial charges +€1,755
up €1,755 (+52.2%), from €3,365 to €5,120
- Financial income +€1,441
up €1,441 (+380.2%), from €379 to €1,820
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 | €603,643 | €556,939 | -€46,704 | -7.7% |
| Fixed assets | 21/28 | €10,664 | €7,956 | -€2,708 | -25.4% |
| Tangible fixed assets | 22/27 | €10,602 | €7,894 | -€2,708 | -25.5% |
| Plant, machinery and equipment | 23 | €3,340 | €2,162 | -€1,178 | -35.3% |
| Other tangible fixed assets | 26 | €7,262 | €5,732 | -€1,530 | -21.1% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €592,979 | €548,983 | -€43,996 | -7.4% |
| Amounts receivable within one year | 40/41 | €159,695 | €64,402 | -€95,293 | -59.7% |
| Trade receivables | 40 | €156,140 | €54,696 | -€101,444 | -65.0% |
| Other amounts receivable | 41 | €3,555 | €9,706 | +€6,151 | +173.0% |
| Cash at bank and in hand | 54/58 | €432,019 | €483,520 | +€51,501 | +11.9% |
| Deferred charges and accrued income | 490/1 | €1,265 | €1,061 | -€204 | -16.1% |
| Total equity and liabilities | 10/49 | €603,643 | €556,939 | -€46,704 | -7.7% |
| Equity | 10/15 | €459,627 | €511,770 | +€52,143 | +11.3% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €396,627 | €448,770 | +€52,143 | +13.1% |
| Non-distributable reserves | 130/1 | €22,207 | €22,207 | = | 0.0% |
| Legal reserve | 130 | €22,207 | €22,207 | = | 0.0% |
| Distributable reserves | 133 | €374,420 | €426,563 | +€52,143 | +13.9% |
| Amounts payable | 17/49 | €144,016 | €45,169 | -€98,847 | -68.6% |
| Amounts payable within one year | 42/48 | €144,016 | €45,169 | -€98,847 | -68.6% |
| Current portion of amounts payable after more than one year | 42 | €5,079 | €5,096 | +€17 | +0.3% |
| Trade debts | 44 | €98,150 | €27,741 | -€70,409 | -71.7% |
| Suppliers | 440/4 | €98,150 | €27,741 | -€70,409 | -71.7% |
| Taxes, remuneration and social security | 45 | €40,787 | €12,332 | -€28,455 | -69.8% |
| Taxes | 450/3 | €40,787 | €12,332 | -€28,455 | -69.8% |
| Non-recurring operating income | 76A | €55,556 | - | -€55,556 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,796 | €2,708 | +€912 | +50.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€211 | - | +€211 | |
| Other operating charges | 640/8 | €1,856 | €1,149 | -€707 | -38.1% |
| Non-recurring operating charges | 66A | €523 | - | -€523 | |
| Gross operating margin | 9900 | €142,220 | €86,701 | -€55,519 | -39.0% |
| Operating profit (loss) | 9901 | €138,256 | €82,844 | -€55,412 | -40.1% |
| Financial income | 75/76B | €379 | €1,820 | +€1,441 | +380.2% |
| Recurring financial income | 75 | €379 | €1,820 | +€1,441 | +380.2% |
| Financial charges | 65/66B | €3,365 | €5,120 | +€1,755 | +52.2% |
| Recurring financial charges | 65 | €3,365 | €5,120 | +€1,755 | +52.2% |
| Profit (loss) for the period before taxes | 9903 | €135,270 | €79,544 | -€55,726 | -41.2% |
| Income taxes | 67/77 | €44,998 | €27,401 | -€17,597 | -39.1% |
| Profit (loss) for the period | 9904 | €90,272 | €52,143 | -€38,129 | -42.2% |
| Profit (loss) for the period to be appropriated | 9905 | €90,272 | €52,143 | -€38,129 | -42.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.