BEL WEB COMMUNICATION: 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 WEB COMMUNICATION
Largest movements
- Receivables within one year -€145,117
down €145,117 (-15.7%), from €921,420 to €776,303
of which Trade receivables: -€152,240
- Cash -€42,668
down €42,668 (-58.5%), from €72,939 to €30,272
mainly Trade debts (-€295,241) and Tax, wage and social debts (-€912)
- Financial fixed assets -€32,052
down €32,052 (-13.5%), from €237,744 to €205,692
- Trade debts -€295,241
down €295,241 (-27.8%), from €1.1m to €766,551
- Other debts +€57,141
up €57,141 (+2,539%), from €2,251 to €59,392
- Profit (loss) carried forward +€19,176
up €19,176 (+17.9%), from -€106,997 to -€87,821
- Gross operating margin +€138,473
up €138,473 (+29.5%), from €469,920 to €608,393
- Staff costs -€106,704
down €106,704 (-19.9%), from €536,876 to €430,172
- Other operating charges +€93,828
up €93,828 (+2,297%), from €4,085 to €97,913
- Write-downs +€56,614
up €56,614 (+777%), from €7,288 to €63,901
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 | €1,232,103 | €1,012,267 | -€219,837 | -17.8% |
| Fixed assets | 21/28 | €237,744 | €205,692 | -€32,052 | -13.5% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €237,744 | €205,692 | -€32,052 | -13.5% |
| Current assets | 29/58 | €994,359 | €806,575 | -€187,784 | -18.9% |
| Amounts receivable within one year | 40/41 | €921,420 | €776,303 | -€145,117 | -15.7% |
| Trade receivables | 40 | €910,406 | €758,166 | -€152,240 | -16.7% |
| Other amounts receivable | 41 | €11,014 | €18,138 | +€7,123 | +64.7% |
| Cash at bank and in hand | 54/58 | €72,939 | €30,272 | -€42,668 | -58.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,232,103 | €1,012,267 | -€219,837 | -17.8% |
| Equity | 10/15 | €42,603 | €61,779 | +€19,176 | +45.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €143,400 | €143,400 | = | 0.0% |
| Distributable reserves | 133 | €143,400 | €143,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€106,997 | -€87,821 | +€19,176 | +17.9% |
| Amounts payable | 17/49 | €1,189,500 | €950,488 | -€239,012 | -20.1% |
| Amounts payable within one year | 42/48 | €1,189,500 | €950,488 | -€239,012 | -20.1% |
| Trade debts | 44 | €1,061,792 | €766,551 | -€295,241 | -27.8% |
| Suppliers | 440/4 | €1,061,792 | €766,551 | -€295,241 | -27.8% |
| Taxes, remuneration and social security | 45 | €125,457 | €124,544 | -€912 | -0.7% |
| Taxes | 450/3 | €75,211 | €94,707 | +€19,496 | +25.9% |
| Remuneration and social security | 454/9 | €50,246 | €29,837 | -€20,408 | -40.6% |
| Other amounts payable | 47/48 | €2,251 | €59,392 | +€57,141 | +2,539% |
| Remuneration, social security and pensions | 62 | €536,876 | €430,172 | -€106,704 | -19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12 | €0 | -€12 | -100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,288 | €63,901 | +€56,614 | +777% |
| Other operating charges | 640/8 | €4,085 | €97,913 | +€93,828 | +2,297% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €469,920 | €608,393 | +€138,473 | +29.5% |
| Operating profit (loss) | 9901 | -€78,341 | €16,406 | +€94,748 | |
| Financial income | 75/76B | €1,610 | €7,648 | +€6,038 | +375% |
| Recurring financial income | 75 | €1,610 | €7,648 | +€6,038 | +375% |
| Financial charges | 65/66B | €8,334 | €4,308 | -€4,026 | -48.3% |
| Recurring financial charges | 65 | €8,334 | €4,308 | -€4,026 | -48.3% |
| Profit (loss) for the period before taxes | 9903 | -€85,065 | €19,747 | +€104,812 | |
| Income taxes | 67/77 | €633 | €571 | -€62 | -9.7% |
| Profit (loss) for the period | 9904 | -€85,698 | €19,176 | +€104,873 | |
| Profit (loss) for the period to be appropriated | 9905 | -€85,698 | €19,176 | +€104,873 |
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 15 October 2026 via checked.be.