Belaudio: 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.
Belaudio
Largest movements
- Tangible fixed assets +€848,803
up €848,803 (+196%), from €431,993 to €1.3m
of which Land and buildings: +€860,903
- Cash +€86,855
up €86,855 (+1,767%), from €4,914 to €91,769
mainly Debts after one year (+€931,880) and Depreciation (+€63,584)
- Debts after one year +€931,880
up €931,880 (+759%), from €122,770 to €1.1m
of which Financial debts: +€598,418
- Profit (loss) carried forward -€36,116
down €36,116 (-33.9%), from -€106,468 to -€142,584
- Trade debts +€34,261
up €34,261 (+245%), from €13,977 to €48,239
- Depreciation +€22,719
up €22,719 (+55.6%), from €40,865 to €63,584
- Gross operating margin +€10,745
up €10,745 (+28.0%), from €38,384 to €49,128
- Financial charges +€7,632
up €7,632 (+58.5%), from €13,052 to €20,684
- Other operating charges -€1,108
down €1,108 (-53.1%), from €2,085 to €977
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 | €460,638 | €1,391,404 | +€930,766 | +202% |
| Fixed assets | 21/28 | €432,010 | €1,280,795 | +€848,785 | +196% |
| Intangible fixed assets | 21 | €18 | - | -€18 | |
| Tangible fixed assets | 22/27 | €431,993 | €1,280,795 | +€848,803 | +196% |
| Land and buildings | 22 | €396,212 | €1,257,115 | +€860,903 | +217% |
| Plant, machinery and equipment | 23 | €20,448 | €10,239 | -€10,209 | -49.9% |
| Furniture and vehicles | 24 | €5,076 | €13,373 | +€8,297 | +163% |
| Other tangible fixed assets | 26 | €10,257 | €69 | -€10,189 | -99.3% |
| Current assets | 29/58 | €28,628 | €110,609 | +€81,981 | +286% |
| Amounts receivable within one year | 40/41 | €23,623 | €17,373 | -€6,250 | -26.5% |
| Trade receivables | 40 | €23,623 | €17,373 | -€6,250 | -26.5% |
| Cash at bank and in hand | 54/58 | €4,914 | €91,769 | +€86,855 | +1,767% |
| Deferred charges and accrued income | 490/1 | €91 | €1,467 | +€1,376 | +1,512% |
| Total equity and liabilities | 10/49 | €460,638 | €1,391,404 | +€930,766 | +202% |
| Equity | 10/15 | €317,132 | €281,016 | -€36,116 | -11.4% |
| Contributions | 10/11 | €423,600 | €423,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€106,468 | -€142,584 | -€36,116 | -33.9% |
| Amounts payable | 17/49 | €143,506 | €1,110,388 | +€966,882 | +674% |
| Amounts payable after more than one year | 17 | €122,770 | €1,054,649 | +€931,880 | +759% |
| Financial debts | 170/4 | - | €598,418 | +€598,418 | |
| Other amounts payable | 178/9 | €122,770 | €456,231 | +€333,461 | +272% |
| Amounts payable within one year | 42/48 | €15,523 | €52,747 | +€37,225 | +240% |
| Trade debts | 44 | €13,977 | €48,239 | +€34,261 | +245% |
| Suppliers | 440/4 | €13,977 | €48,239 | +€34,261 | +245% |
| Taxes, remuneration and social security | 45 | €1,545 | €4,509 | +€2,964 | +192% |
| Taxes | 450/3 | €1,545 | €4,509 | +€2,964 | +192% |
| Accrued charges and deferred income | 492/3 | €5,214 | €2,991 | -€2,222 | -42.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,865 | €63,584 | +€22,719 | +55.6% |
| Other operating charges | 640/8 | €2,085 | €977 | -€1,108 | -53.1% |
| Gross operating margin | 9900 | €38,384 | €49,128 | +€10,745 | +28.0% |
| Operating profit (loss) | 9901 | -€4,566 | -€15,433 | -€10,867 | -238% |
| Financial income | 75/76B | €22 | - | -€22 | |
| Recurring financial income | 75 | €22 | - | -€22 | |
| Financial charges | 65/66B | €13,052 | €20,684 | +€7,632 | +58.5% |
| Recurring financial charges | 65 | €13,052 | €20,684 | +€7,632 | +58.5% |
| Profit (loss) for the period before taxes | 9903 | -€17,596 | -€36,116 | -€18,520 | -105% |
| Income taxes | 67/77 | €33 | - | -€33 | |
| Profit (loss) for the period | 9904 | -€17,629 | -€36,116 | -€18,487 | -105% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,629 | -€36,116 | -€18,487 | -105% |
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 19 October 2026 via checked.be.