BELBOUWEKIZ: what changed
BELBOUWEKIZ
Largest movements
- Cash +€14,830
up €14,830 (+213%), from €6,966 to €21,796
mainly Receivables within one year (+€12,407) and Depreciation (+€11,171)
- Receivables within one year -€12,407
down €12,407 (-17.2%), from €72,135 to €59,728
of which Trade receivables: -€25,167
- Tangible fixed assets -€11,171
down €11,171 (-62.8%), from €17,793 to €6,622
of which Furniture and vehicles: -€8,819
- Stocks and contracts +€10,775
up €10,775 (+26.6%), from €40,525 to €51,300
- Tax, wage and social debts -€11,466
down €11,466 (-87.9%), from €13,040 to €1,574
- Trade debts +€7,726
up €7,726 (+50.4%), from €15,334 to €23,059
- Profit (loss) carried forward +€3,357
up €3,357 (+5.1%), from €65,274 to €68,631
- Other debts +€2,179
up €2,179 (+7.5%), from €29,225 to €31,404
- Gross operating margin +€12,661
up €12,661 (+125%), from €10,161 to €22,823
- Other operating charges -€4,128
down €4,128 (-73.6%), from €5,611 to €1,483
- Staff costs +€4,045
new in 2025: €4,045
- Taxes +€2,713
new in 2025: €2,713
- Depreciation -€2,664
down €2,664 (-19.3%), from €13,835 to €11,171
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €141,473 | €143,268 | +€1,795 | +1.3% |
| Fixed assets | 21/28 | €19,818 | €8,647 | -€11,171 | -56.4% |
| Tangible fixed assets | 22/27 | €17,793 | €6,622 | -€11,171 | -62.8% |
| Plant, machinery and equipment | 23 | €2,352 | - | -€2,352 | |
| Furniture and vehicles | 24 | €15,441 | €6,622 | -€8,819 | -57.1% |
| Financial fixed assets | 28 | €2,025 | €2,025 | = | 0.0% |
| Current assets | 29/58 | €121,655 | €134,621 | +€12,966 | +10.7% |
| Stocks and contracts in progress | 3 | €40,525 | €51,300 | +€10,775 | +26.6% |
| Stocks | 30/36 | €40,525 | €51,300 | +€10,775 | +26.6% |
| Amounts receivable within one year | 40/41 | €72,135 | €59,728 | -€12,407 | -17.2% |
| Trade receivables | 40 | €70,773 | €45,606 | -€25,167 | -35.6% |
| Other amounts receivable | 41 | €1,362 | €14,122 | +€12,760 | +937% |
| Cash at bank and in hand | 54/58 | €6,966 | €21,796 | +€14,830 | +213% |
| Deferred charges and accrued income | 490/1 | €2,028 | €1,796 | -€232 | -11.5% |
| Total equity and liabilities | 10/49 | €141,473 | €143,268 | +€1,795 | +1.3% |
| Equity | 10/15 | €83,874 | €87,231 | +€3,357 | +4.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,274 | €68,631 | +€3,357 | +5.1% |
| Amounts payable | 17/49 | €57,599 | €56,037 | -€1,562 | -2.7% |
| Amounts payable within one year | 42/48 | €57,599 | €56,037 | -€1,562 | -2.7% |
| Trade debts | 44 | €15,334 | €23,059 | +€7,726 | +50.4% |
| Suppliers | 440/4 | €15,334 | €23,059 | +€7,726 | +50.4% |
| Taxes, remuneration and social security | 45 | €13,040 | €1,574 | -€11,466 | -87.9% |
| Remuneration and social security | 454/9 | €13,040 | €1,574 | -€11,466 | -87.9% |
| Other amounts payable | 47/48 | €29,225 | €31,404 | +€2,179 | +7.5% |
| Remuneration, social security and pensions | 62 | - | €4,045 | +€4,045 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,835 | €11,171 | -€2,664 | -19.3% |
| Other operating charges | 640/8 | €5,611 | €1,483 | -€4,128 | -73.6% |
| Gross operating margin | 9900 | €10,161 | €22,823 | +€12,661 | +125% |
| Operating profit (loss) | 9901 | -€9,284 | €6,124 | +€15,408 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €134 | €54 | -€80 | -59.6% |
| Recurring financial charges | 65 | €134 | €54 | -€80 | -59.6% |
| Profit (loss) for the period before taxes | 9903 | -€9,418 | €6,070 | +€15,488 | |
| Income taxes | 67/77 | - | €2,713 | +€2,713 | |
| Profit (loss) for the period | 9904 | -€9,418 | €3,357 | +€12,775 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,418 | €3,357 | +€12,775 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.