Belarabit: 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.
Belarabit
Largest movements
- Receivables within one year +€39,144
up €39,144 (+22.2%), from €176,346 to €215,490
of which Other amounts receivable: +€56,584
- Cash -€37,376
down €37,376 (-95.2%), from €39,248 to €1,872
mainly Net result for the year (-€74,182) and Short-term financial debts (-€40,016)
- Tangible fixed assets -€18,401
down €18,401 (-22.1%), from €83,082 to €64,681
of which Plant, machinery and equipment: -€9,424
- Deferred charges and accrued income -€3,120
down €3,120 (-82.6%), from €3,779 to €659
- Profit (loss) carried forward -€74,182
down €74,182 (-85.7%), from -€86,579 to -€160,761
- Debts after one year +€58,724
up €58,724 (+40.8%), from €143,847 to €202,571
- Short-term financial debts -€40,016
down €40,016 (-66.8%), from €59,909 to €19,893
- Accrued charges and deferred income +€24,626
new in 2025: €24,626
- Trade debts +€16,521
up €16,521 (+34.8%), from €47,535 to €64,056
- Staff costs -€48,850
down €48,850 (-34.1%), from €143,335 to €94,485
- Gross operating margin -€28,923
down €28,923 (-30.9%), from €93,710 to €64,787
- Financial charges +€8,319
up €8,319 (+51.9%), from €16,043 to €24,362
- Depreciation -€2,614
down €2,614 (-13.9%), from €18,813 to €16,198
- Financial income -€1,843
no longer reported in 2025 (was €1,843)
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 | €302,630 | €282,821 | -€19,809 | -6.5% |
| Fixed assets | 21/28 | €83,257 | €64,800 | -€18,457 | -22.2% |
| Tangible fixed assets | 22/27 | €83,082 | €64,681 | -€18,401 | -22.1% |
| Plant, machinery and equipment | 23 | €19,463 | €10,039 | -€9,424 | -48.4% |
| Other tangible fixed assets | 26 | €63,619 | €54,642 | -€8,977 | -14.1% |
| Financial fixed assets | 28 | €175 | €119 | -€56 | -32.0% |
| Current assets | 29/58 | €219,373 | €218,021 | -€1,352 | -0.6% |
| Amounts receivable within one year | 40/41 | €176,346 | €215,490 | +€39,144 | +22.2% |
| Trade receivables | 40 | €92,862 | €75,423 | -€17,439 | -18.8% |
| Other amounts receivable | 41 | €83,484 | €140,068 | +€56,584 | +67.8% |
| Cash at bank and in hand | 54/58 | €39,248 | €1,872 | -€37,376 | -95.2% |
| Deferred charges and accrued income | 490/1 | €3,779 | €659 | -€3,120 | -82.6% |
| Total equity and liabilities | 10/49 | €302,630 | €282,821 | -€19,809 | -6.5% |
| Equity | 10/15 | -€17,353 | -€91,535 | -€74,182 | -427.5% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €68,726 | €68,726 | = | 0.0% |
| Distributable reserves | 133 | €68,726 | €68,726 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,579 | -€160,761 | -€74,182 | -85.7% |
| Amounts payable | 17/49 | €319,983 | €374,356 | +€54,374 | +17.0% |
| Amounts payable after more than one year | 17 | €143,847 | €202,571 | +€58,724 | +40.8% |
| Financial debts | 170/4 | €143,847 | €202,571 | +€58,724 | +40.8% |
| Amounts payable within one year | 42/48 | €176,135 | €147,159 | -€28,977 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €47,873 | €45,379 | -€2,494 | -5.2% |
| Financial debts | 43 | €59,909 | €19,893 | -€40,016 | -66.8% |
| Credit institutions | 430/8 | €59,909 | €19,893 | -€40,016 | -66.8% |
| Trade debts | 44 | €47,535 | €64,056 | +€16,521 | +34.8% |
| Suppliers | 440/4 | €47,535 | €64,056 | +€16,521 | +34.8% |
| Taxes, remuneration and social security | 45 | €20,818 | €17,831 | -€2,987 | -14.3% |
| Taxes | 450/3 | €20,818 | €17,022 | -€3,796 | -18.2% |
| Remuneration and social security | 454/9 | - | €809 | +€809 | |
| Accrued charges and deferred income | 492/3 | - | €24,626 | +€24,626 | |
| Remuneration, social security and pensions | 62 | €143,335 | €94,485 | -€48,850 | -34.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,813 | €16,198 | -€2,614 | -13.9% |
| Other operating charges | 640/8 | €2,363 | €3,663 | +€1,300 | +55.0% |
| Gross operating margin | 9900 | €93,710 | €64,787 | -€28,923 | -30.9% |
| Operating profit (loss) | 9901 | -€70,800 | -€49,559 | +€21,242 | +30.0% |
| Financial income | 75/76B | €1,843 | - | -€1,843 | |
| Recurring financial income | 75 | €1,843 | - | -€1,843 | |
| Financial charges | 65/66B | €16,043 | €24,362 | +€8,319 | +51.9% |
| Recurring financial charges | 65 | €16,043 | €24,362 | +€8,319 | +51.9% |
| Profit (loss) for the period before taxes | 9903 | -€85,001 | -€73,921 | +€11,080 | +13.0% |
| Income taxes | 67/77 | €880 | €262 | -€619 | -70.3% |
| Profit (loss) for the period | 9904 | -€85,881 | -€74,182 | +€11,699 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€85,881 | -€74,182 | +€11,699 | +13.6% |
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 4 October 2026 via checked.be.