BELAUBADE: 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.
BELAUBADE
Largest movements
- Cash -€30,907
down €30,907 (-19.9%), from €155,493 to €124,586
mainly Net result for the year (-€71,285) and Tax, wage and social debts (-€27,055)
- Profit (loss) carried forward -€71,285
down €71,285 (-51.8%), from €137,618 to €66,333
- Trade debts +€60,719
up €60,719 (+6.3%), from €966,067 to €1.0m
of which Bills of exchange payable: +€85,264
- Tax, wage and social debts -€27,055
down €27,055 (-10.1%), from €268,223 to €241,168
of which Remuneration and social security: -€29,340
- Gross operating margin -€144,573
down €144,573 (-15.0%), from €966,213 to €821,640
- Write-downs -€41,394
down €41,394, from €17,010 to -€24,384
- Taxes +€10,002
up €10,002 (+66.4%), from €15,060 to €25,063
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 | €1,770,803 | €1,733,868 | -€36,935 | -2.1% |
| Fixed assets | 21/28 | €128,318 | €113,049 | -€15,269 | -11.9% |
| Tangible fixed assets | 22/27 | €59,873 | €44,604 | -€15,269 | -25.5% |
| Plant, machinery and equipment | 23 | €59,873 | €42,782 | -€17,090 | -28.5% |
| Furniture and vehicles | 24 | €1 | €1,822 | +€1,822 | +319,595% |
| Financial fixed assets | 28 | €68,445 | €68,445 | = | 0.0% |
| Current assets | 29/58 | €1,642,485 | €1,620,818 | -€21,666 | -1.3% |
| Stocks and contracts in progress | 3 | €432,097 | €447,862 | +€15,765 | +3.6% |
| Stocks | 30/36 | €432,097 | €447,862 | +€15,765 | +3.6% |
| Amounts receivable within one year | 40/41 | €1,040,023 | €1,035,680 | -€4,343 | -0.4% |
| Trade receivables | 40 | €1,020,772 | €1,020,201 | -€571 | -0.1% |
| Other amounts receivable | 41 | €19,251 | €15,478 | -€3,773 | -19.6% |
| Cash at bank and in hand | 54/58 | €155,493 | €124,586 | -€30,907 | -19.9% |
| Deferred charges and accrued income | 490/1 | €14,872 | €12,691 | -€2,181 | -14.7% |
| Total equity and liabilities | 10/49 | €1,770,803 | €1,733,868 | -€36,935 | -2.1% |
| Equity | 10/15 | €535,818 | €464,533 | -€71,285 | -13.3% |
| Contributions | 10/11 | €362,000 | €362,000 | = | 0.0% |
| Capital | 10 | €362,000 | €362,000 | = | 0.0% |
| Issued capital | 100 | €362,000 | €362,000 | = | 0.0% |
| Reserves | 13 | €36,200 | €36,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €36,200 | €36,200 | = | 0.0% |
| Legal reserve | 130 | €36,200 | €36,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €137,618 | €66,333 | -€71,285 | -51.8% |
| Amounts payable | 17/49 | €1,234,985 | €1,269,334 | +€34,349 | +2.8% |
| Amounts payable within one year | 42/48 | €1,234,985 | €1,269,334 | +€34,349 | +2.8% |
| Trade debts | 44 | €966,067 | €1,026,786 | +€60,719 | +6.3% |
| Suppliers | 440/4 | €884,200 | €859,655 | -€24,545 | -2.8% |
| Bills of exchange payable | 441 | €81,867 | €167,131 | +€85,264 | +104% |
| Taxes, remuneration and social security | 45 | €268,223 | €241,168 | -€27,055 | -10.1% |
| Taxes | 450/3 | €128,297 | €130,582 | +€2,285 | +1.8% |
| Remuneration and social security | 454/9 | €139,926 | €110,586 | -€29,340 | -21.0% |
| Other amounts payable | 47/48 | €695 | €1,380 | +€685 | +98.6% |
| Non-recurring operating income | 76A | €9,193 | €20,308 | +€11,116 | +121% |
| Remuneration, social security and pensions | 62 | €749,370 | €741,076 | -€8,294 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,398 | €19,048 | +€650 | +3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,010 | -€24,384 | -€41,394 | |
| Other operating charges | 640/8 | €12,368 | €11,293 | -€1,075 | -8.7% |
| Gross operating margin | 9900 | €966,213 | €821,640 | -€144,573 | -15.0% |
| Operating profit (loss) | 9901 | €169,067 | €74,607 | -€94,460 | -55.9% |
| Financial income | 75/76B | €225 | - | -€225 | |
| Recurring financial income | 75 | €225 | - | -€225 | |
| Financial charges | 65/66B | €117,257 | €120,829 | +€3,572 | +3.0% |
| Recurring financial charges | 65 | €112,528 | €120,493 | +€7,965 | +7.1% |
| Non-recurring financial charges | 66B | €4,729 | €336 | -€4,393 | -92.9% |
| Profit (loss) for the period before taxes | 9903 | €52,035 | -€46,222 | -€98,257 | |
| Income taxes | 67/77 | €15,060 | €25,063 | +€10,002 | +66.4% |
| Profit (loss) for the period | 9904 | €36,975 | -€71,285 | -€108,259 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,975 | -€71,285 | -€108,259 |
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 17 October 2026 via checked.be.