Belberry: 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.
Belberry
Largest movements
- Receivables within one year -€464,092
down €464,092 (-28.3%), from €1.6m to €1.2m
of which Other amounts receivable: -€734,317
- Financial fixed assets +€362,445
new in 2025: €362,445
- Stocks and contracts -€185,346
down €185,346 (-19.7%), from €942,282 to €756,935
- Cash -€151,116
down €151,116 (-63.9%), from €236,502 to €85,385
mainly Debts after one year (-€524,669) and Contributions, distributions and other (-€400,000)
- Tangible fixed assets -€102,412
down €102,412 (-17.6%), from €582,690 to €480,278
- Debts after one year -€524,669
down €524,669 (-63.0%), from €832,298 to €307,629
- Short-term financial debts -€215,000
down €215,000 (-23.0%), from €935,000 to €720,000
- Profit (loss) carried forward +€81,995
up €81,995 (+13.9%), from €591,775 to €673,770
- Trade debts +€38,664
up €38,664 (+8.4%), from €461,627 to €500,291
- Gross operating margin -€300,962
down €300,962 (-15.1%), from €2.0m to €1.7m
- Staff costs +€128,191
up €128,191 (+19.2%), from €667,058 to €795,249
- Taxes -€95,371
down €95,371 (-36.1%), from €264,105 to €168,734
- Depreciation -€92,029
down €92,029 (-35.7%), from €257,694 to €165,664
- Financial income -€24,680
down €24,680 (-75.0%), from €32,907 to €8,227
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 | €3,651,279 | €3,066,837 | -€584,442 | -16.0% |
| Fixed assets | 21/28 | €816,430 | €1,025,825 | +€209,395 | +25.6% |
| Intangible fixed assets | 21 | €233,740 | €183,102 | -€50,638 | -21.7% |
| Tangible fixed assets | 22/27 | €582,690 | €480,278 | -€102,412 | -17.6% |
| Plant, machinery and equipment | 23 | €251,693 | €205,025 | -€46,669 | -18.5% |
| Furniture and vehicles | 24 | €31,825 | €16,758 | -€15,067 | -47.3% |
| Leasing and similar rights | 25 | €279,987 | €242,737 | -€37,250 | -13.3% |
| Other tangible fixed assets | 26 | €19,185 | €15,759 | -€3,426 | -17.9% |
| Financial fixed assets | 28 | - | €362,445 | +€362,445 | |
| Current assets | 29/58 | €2,834,849 | €2,041,013 | -€793,837 | -28.0% |
| Stocks and contracts in progress | 3 | €942,282 | €756,935 | -€185,346 | -19.7% |
| Stocks | 30/36 | €942,282 | €756,935 | -€185,346 | -19.7% |
| Amounts receivable within one year | 40/41 | €1,641,002 | €1,176,910 | -€464,092 | -28.3% |
| Trade receivables | 40 | €731,777 | €1,002,002 | +€270,225 | +36.9% |
| Other amounts receivable | 41 | €909,225 | €174,908 | -€734,317 | -80.8% |
| Cash at bank and in hand | 54/58 | €236,502 | €85,385 | -€151,116 | -63.9% |
| Deferred charges and accrued income | 490/1 | €15,064 | €21,782 | +€6,718 | +44.6% |
| Total equity and liabilities | 10/49 | €3,651,279 | €3,066,837 | -€584,442 | -16.0% |
| Equity | 10/15 | €610,375 | €692,370 | +€81,995 | +13.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €591,775 | €673,770 | +€81,995 | +13.9% |
| Amounts payable | 17/49 | €3,040,904 | €2,374,467 | -€666,437 | -21.9% |
| Amounts payable after more than one year | 17 | €832,298 | €307,629 | -€524,669 | -63.0% |
| Financial debts | 170/4 | €832,298 | €307,629 | -€524,669 | -63.0% |
| Amounts payable within one year | 42/48 | €2,208,606 | €2,058,777 | -€149,829 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €189,206 | €191,798 | +€2,592 | +1.4% |
| Financial debts | 43 | €935,000 | €720,000 | -€215,000 | -23.0% |
| Credit institutions | 430/8 | €935,000 | €720,000 | -€215,000 | -23.0% |
| Trade debts | 44 | €461,627 | €500,291 | +€38,664 | +8.4% |
| Suppliers | 440/4 | €461,627 | €500,291 | +€38,664 | +8.4% |
| Taxes, remuneration and social security | 45 | €170,415 | €166,257 | -€4,157 | -2.4% |
| Taxes | 450/3 | €91,858 | €79,462 | -€12,396 | -13.5% |
| Remuneration and social security | 454/9 | €78,556 | €86,795 | +€8,239 | +10.5% |
| Other amounts payable | 47/48 | €452,359 | €480,431 | +€28,072 | +6.2% |
| Accrued charges and deferred income | 492/3 | - | €8,061 | +€8,061 | |
| Remuneration, social security and pensions | 62 | €667,058 | €795,249 | +€128,191 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €257,694 | €165,664 | -€92,029 | -35.7% |
| Other operating charges | 640/8 | €7,302 | €22,969 | +€15,667 | +215% |
| Gross operating margin | 9900 | €1,996,338 | €1,695,376 | -€300,962 | -15.1% |
| Operating profit (loss) | 9901 | €1,064,285 | €711,494 | -€352,790 | -33.1% |
| Financial income | 75/76B | €32,907 | €8,227 | -€24,680 | -75.0% |
| Recurring financial income | 75 | €32,907 | €8,227 | -€24,680 | -75.0% |
| Financial charges | 65/66B | €67,169 | €68,991 | +€1,822 | +2.7% |
| Recurring financial charges | 65 | €67,169 | €68,991 | +€1,822 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €1,030,022 | €650,730 | -€379,292 | -36.8% |
| Income taxes | 67/77 | €264,105 | €168,734 | -€95,371 | -36.1% |
| Profit (loss) for the period | 9904 | €765,916 | €481,995 | -€283,921 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €765,916 | €481,995 | -€283,921 | -37.1% |
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 15 October 2026 via checked.be.