BELAGENCY: 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.
BELAGENCY
Largest movements
- Receivables within one year +€10,861
up €10,861 (+159%), from €6,831 to €17,692
of which Trade receivables: +€10,671
- Cash +€5,974
up €5,974 (+16,594%), from €36 to €6,010
mainly Current portion of long-term debt (+€16,070) and Other debts (+€3,311)
- Stocks and contracts -€743
down €743 (-55.8%), from €1,331 to €588
- Current portion of long-term debt +€16,070
new in 2025: €16,070
- Profit (loss) carried forward -€5,540
down €5,540 (-91.1%), from -€6,084 to -€11,624
- Other debts +€3,311
up €3,311 (+141%), from €2,349 to €5,660
- Trade debts +€2,534
up €2,534 (+31.1%), from €8,150 to €10,684
- Tax, wage and social debts -€283
no longer reported in 2025 (was €283)
- Gross operating margin +€1,342
up €1,342 (+22.1%), from -€6,079 to -€4,737
- Other operating charges +€700
new in 2025: €700
- Financial charges +€230
up €230 (+479%), from €48 to €278
- Financial income +€132
up €132 (+307%), from €43 to €175
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 | €8,198 | €24,290 | +€16,092 | +196% |
| Current assets | 29/58 | €8,198 | €24,290 | +€16,092 | +196% |
| Stocks and contracts in progress | 3 | €1,331 | €588 | -€743 | -55.8% |
| Stocks | 30/36 | €1,331 | €588 | -€743 | -55.8% |
| Amounts receivable within one year | 40/41 | €6,831 | €17,692 | +€10,861 | +159% |
| Trade receivables | 40 | €6,831 | €17,502 | +€10,671 | +156% |
| Other amounts receivable | 41 | - | €190 | +€190 | |
| Cash at bank and in hand | 54/58 | €36 | €6,010 | +€5,974 | +16,594% |
| Total equity and liabilities | 10/49 | €8,198 | €24,290 | +€16,092 | +196% |
| Equity | 10/15 | -€2,584 | -€8,124 | -€5,540 | -214% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,084 | -€11,624 | -€5,540 | -91.1% |
| Amounts payable | 17/49 | €10,782 | €32,414 | +€21,632 | +201% |
| Amounts payable within one year | 42/48 | €10,782 | €32,414 | +€21,632 | +201% |
| Current portion of amounts payable after more than one year | 42 | - | €16,070 | +€16,070 | |
| Trade debts | 44 | €8,150 | €10,684 | +€2,534 | +31.1% |
| Suppliers | 440/4 | €8,150 | €10,684 | +€2,534 | +31.1% |
| Taxes, remuneration and social security | 45 | €283 | - | -€283 | |
| Taxes | 450/3 | €283 | - | -€283 | |
| Other amounts payable | 47/48 | €2,349 | €5,660 | +€3,311 | +141% |
| Other operating charges | 640/8 | - | €700 | +€700 | |
| Gross operating margin | 9900 | -€6,079 | -€4,737 | +€1,342 | +22.1% |
| Operating profit (loss) | 9901 | -€6,079 | -€5,437 | +€642 | +10.6% |
| Financial income | 75/76B | €43 | €175 | +€132 | +307% |
| Recurring financial income | 75 | €43 | €175 | +€132 | +307% |
| Financial charges | 65/66B | €48 | €278 | +€230 | +479% |
| Recurring financial charges | 65 | €48 | €278 | +€230 | +479% |
| Profit (loss) for the period before taxes | 9903 | -€6,084 | -€5,540 | +€544 | +8.9% |
| Profit (loss) for the period | 9904 | -€6,084 | -€5,540 | +€544 | +8.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,084 | -€5,540 | +€544 | +8.9% |
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 18 October 2026 via checked.be.