BELBESCA: 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.
BELBESCA
Largest movements
- Receivables within one year -€143,978
down €143,978 (-16.0%), from €901,434 to €757,456
of which Trade receivables: -€251,177
- Trade debts -€115,515
down €115,515 (-26.4%), from €438,105 to €322,590
- Tax, wage and social debts -€18,793
down €18,793 (-4.2%), from €447,725 to €428,932
of which Remuneration and social security: -€26,911
- Profit (loss) carried forward -€9,902
down €9,902 (-17.4%), from -€56,945 to -€66,847
- Staff costs +€195,652
up €195,652 (+9.3%), from €2.1m to €2.3m
- Gross operating margin +€192,368
up €192,368 (+9.2%), from €2.1m to €2.3m
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €901,504 | €757,530 | -€143,975 | -16.0% |
| Current assets | 29/58 | €901,504 | €757,530 | -€143,975 | -16.0% |
| Amounts receivable within one year | 40/41 | €901,434 | €757,456 | -€143,978 | -16.0% |
| Trade receivables | 40 | €665,499 | €414,321 | -€251,177 | -37.7% |
| Other amounts receivable | 41 | €235,935 | €343,135 | +€107,200 | +45.4% |
| Deferred charges and accrued income | 490/1 | €70 | €73 | +€3 | +4.7% |
| Total equity and liabilities | 10/49 | €901,504 | €757,530 | -€143,975 | -16.0% |
| Equity | 10/15 | €10,705 | €803 | -€9,902 | -92.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,945 | -€66,847 | -€9,902 | -17.4% |
| Amounts payable | 17/49 | €890,799 | €756,727 | -€134,072 | -15.1% |
| Amounts payable within one year | 42/48 | €885,830 | €751,522 | -€134,309 | -15.2% |
| Trade debts | 44 | €438,105 | €322,590 | -€115,515 | -26.4% |
| Suppliers | 440/4 | €438,105 | €322,590 | -€115,515 | -26.4% |
| Taxes, remuneration and social security | 45 | €447,725 | €428,932 | -€18,793 | -4.2% |
| Taxes | 450/3 | €40,614 | €48,731 | +€8,118 | +20.0% |
| Remuneration and social security | 454/9 | €407,111 | €380,200 | -€26,911 | -6.6% |
| Accrued charges and deferred income | 492/3 | €4,969 | €5,205 | +€236 | +4.8% |
| Non-recurring operating income | 76A | - | €3,679 | +€3,679 | |
| Remuneration, social security and pensions | 62 | €2,102,142 | €2,297,794 | +€195,652 | +9.3% |
| Other operating charges | 640/8 | €1,326 | €996 | -€329 | -24.8% |
| Gross operating margin | 9900 | €2,094,978 | €2,287,345 | +€192,368 | +9.2% |
| Operating profit (loss) | 9901 | -€8,490 | -€11,445 | -€2,955 | -34.8% |
| Financial income | 75/76B | €2,375 | €2,232 | -€143 | -6.0% |
| Recurring financial income | 75 | €2,375 | €2,232 | -€143 | -6.0% |
| Financial charges | 65/66B | €8,206 | €689 | -€7,516 | -91.6% |
| Recurring financial charges | 65 | €8,206 | €689 | -€7,516 | -91.6% |
| Profit (loss) for the period before taxes | 9903 | -€14,321 | -€9,902 | +€4,418 | +30.9% |
| Profit (loss) for the period | 9904 | -€14,321 | -€9,902 | +€4,418 | +30.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,321 | -€9,902 | +€4,418 | +30.9% |
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 16 October 2026 via checked.be.