BELANTRA: 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.
BELANTRA
Largest movements
- Receivables within one year -€443,327
down €443,327 (-86.4%), from €513,234 to €69,908
of which Trade receivables: -€441,745
- Deferred charges and accrued income -€45,635
down €45,635 (-49.8%), from €91,576 to €45,941
- Stocks and contracts -€15,063
down €15,063 (-11.6%), from €129,638 to €114,575
- Advances received -€218,311
no longer reported in 2025 (was €218,311)
- Trade debts -€200,027
down €200,027 (-72.3%), from €276,498 to €76,472
- Tax, wage and social debts -€93,485
down €93,485 (-78.2%), from €119,499 to €26,015
- Other debts +€7,650
up €7,650 (+33.8%), from €22,607 to €30,258
- Gross operating margin +€10,536
up €10,536, from -€1,876 to €8,660
- Taxes +€8,320
new in 2025: €8,320
- Depreciation -€2,672
down €2,672 (-85.0%), from €3,145 to €473
- Financial charges -€396
down €396 (-51.6%), from €769 to €372
- Staff costs -€314
down €314 (-16.3%), from €1,930 to €1,616
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 | €746,911 | €240,364 | -€506,547 | -67.8% |
| Fixed assets | 21/28 | €1,610 | €1,137 | -€473 | -29.4% |
| Tangible fixed assets | 22/27 | €1,610 | €1,137 | -€473 | -29.4% |
| Plant, machinery and equipment | 23 | €1,110 | €887 | -€223 | -20.1% |
| Furniture and vehicles | 24 | €500 | €250 | -€250 | -50.0% |
| Current assets | 29/58 | €745,301 | €239,228 | -€506,074 | -67.9% |
| Stocks and contracts in progress | 3 | €129,638 | €114,575 | -€15,063 | -11.6% |
| Stocks | 30/36 | €129,638 | €114,575 | -€15,063 | -11.6% |
| Amounts receivable within one year | 40/41 | €513,234 | €69,908 | -€443,327 | -86.4% |
| Trade receivables | 40 | €506,622 | €64,878 | -€441,745 | -87.2% |
| Other amounts receivable | 41 | €6,612 | €5,030 | -€1,582 | -23.9% |
| Cash at bank and in hand | 54/58 | €10,853 | €8,804 | -€2,049 | -18.9% |
| Deferred charges and accrued income | 490/1 | €91,576 | €45,941 | -€45,635 | -49.8% |
| Total equity and liabilities | 10/49 | €746,911 | €240,364 | -€506,547 | -67.8% |
| Equity | 10/15 | €106,997 | €104,622 | -€2,375 | -2.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,447 | €86,072 | -€2,375 | -2.7% |
| Amounts payable | 17/49 | €639,914 | €135,742 | -€504,172 | -78.8% |
| Amounts payable within one year | 42/48 | €636,916 | €132,744 | -€504,172 | -79.2% |
| Trade debts | 44 | €276,498 | €76,472 | -€200,027 | -72.3% |
| Suppliers | 440/4 | €276,498 | €76,472 | -€200,027 | -72.3% |
| Advances received on contracts in progress | 46 | €218,311 | - | -€218,311 | |
| Taxes, remuneration and social security | 45 | €119,499 | €26,015 | -€93,485 | -78.2% |
| Taxes | 450/3 | €119,499 | €26,015 | -€93,485 | -78.2% |
| Other amounts payable | 47/48 | €22,607 | €30,258 | +€7,650 | +33.8% |
| Accrued charges and deferred income | 492/3 | €2,998 | €2,998 | = | 0.0% |
| Non-recurring operating income | 76A | €412 | - | -€412 | |
| Remuneration, social security and pensions | 62 | €1,930 | €1,616 | -€314 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,145 | €473 | -€2,672 | -85.0% |
| Other operating charges | 640/8 | €418 | €255 | -€163 | -39.1% |
| Gross operating margin | 9900 | -€1,876 | €8,660 | +€10,536 | |
| Operating profit (loss) | 9901 | -€7,368 | €6,317 | +€13,685 | |
| Financial income | 75/76B | €8 | €0 | -€8 | -98.2% |
| Recurring financial income | 75 | €8 | €0 | -€8 | -98.2% |
| Financial charges | 65/66B | €769 | €372 | -€396 | -51.6% |
| Recurring financial charges | 65 | €769 | €372 | -€396 | -51.6% |
| Profit (loss) for the period before taxes | 9903 | -€8,129 | €5,945 | +€14,074 | |
| Income taxes | 67/77 | - | €8,320 | +€8,320 | |
| Profit (loss) for the period | 9904 | -€8,129 | -€2,375 | +€5,754 | +70.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,129 | -€2,375 | +€5,754 | +70.8% |
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 20 October 2026 via checked.be.