BELDAR: 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.
BELDAR
Largest movements
- Cash +€33,996
up €33,996 (+55.0%), from €61,768 to €95,764
mainly Net result for the year (+€42,005) and Tax, wage and social debts (+€18,496)
- Receivables within one year +€16,836
up €16,836 (+261.3%), from €6,443 to €23,279
- Receivables after one year +€11,942
up €11,942 (+106.7%), from €11,188 to €23,130
- Profit (loss) carried forward +€42,005
up €42,005 (+64.8%), from €64,818 to €106,824
- Tax, wage and social debts +€18,496
up €18,496 (+152.7%), from €12,109 to €30,605
of which Taxes: +€12,846
- Trade debts +€2,165
up €2,165 (+6703.3%), from €32 to €2,197
- Staff costs +€42,021
new in 2025: €42,021
- Gross operating margin +€38,625
up €38,625 (+69.6%), from €55,515 to €94,140
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.
Cash bridge derived
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 | €79,960 | €142,626 | +€62,666 | +78.4% |
| Fixed assets | 21/28 | €560 | €224 | -€336 | -60.0% |
| Tangible fixed assets | 22/27 | €560 | €224 | -€336 | -60.0% |
| Plant, machinery and equipment | 23 | €560 | €224 | -€336 | -60.0% |
| Current assets | 29/58 | €79,400 | €142,402 | +€63,002 | +79.3% |
| Amounts receivable after more than one year | 29 | €11,188 | €23,130 | +€11,942 | +106.7% |
| Other amounts receivable | 291 | €11,188 | €23,130 | +€11,942 | +106.7% |
| Amounts receivable within one year | 40/41 | €6,443 | €23,279 | +€16,836 | +261.3% |
| Trade receivables | 40 | €6,443 | €23,279 | +€16,836 | +261.3% |
| Cash at bank and in hand | 54/58 | €61,768 | €95,764 | +€33,996 | +55.0% |
| Deferred charges and accrued income | 490/1 | - | €228 | +€228 | |
| Total equity and liabilities | 10/49 | €79,960 | €142,626 | +€62,666 | +78.4% |
| Equity | 10/15 | €67,818 | €109,824 | +€42,005 | +61.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Capital | 10 | €3,000 | - | -€3,000 | |
| Issued capital | 100 | €3,000 | - | -€3,000 | |
| Profit (loss) carried forward | 14 | €64,818 | €106,824 | +€42,005 | +64.8% |
| Amounts payable | 17/49 | €12,141 | €32,802 | +€20,661 | +170.2% |
| Amounts payable within one year | 42/48 | €12,141 | €32,802 | +€20,661 | +170.2% |
| Trade debts | 44 | €32 | €2,197 | +€2,165 | +6703.3% |
| Suppliers | 440/4 | €32 | €2,197 | +€2,165 | +6703.3% |
| Taxes, remuneration and social security | 45 | €12,109 | €30,605 | +€18,496 | +152.7% |
| Taxes | 450/3 | €12,109 | €24,955 | +€12,846 | +106.1% |
| Remuneration and social security | 454/9 | - | €5,650 | +€5,650 | |
| Remuneration, social security and pensions | 62 | - | €42,021 | +€42,021 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €336 | €336 | = | 0.0% |
| Other operating charges | 640/8 | €170 | €32 | -€139 | -81.5% |
| Gross operating margin | 9900 | €55,515 | €94,140 | +€38,625 | +69.6% |
| Operating profit (loss) | 9901 | €55,009 | €51,752 | -€3,257 | -5.9% |
| Financial income | 75/76B | €328 | €1,128 | +€800 | +244.1% |
| Recurring financial income | 75 | €328 | €1,128 | +€800 | +244.1% |
| Financial charges | 65/66B | €50 | €44 | -€6 | -11.7% |
| Recurring financial charges | 65 | €50 | €44 | -€6 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €55,287 | €52,836 | -€2,451 | -4.4% |
| Income taxes | 67/77 | €11,264 | €10,831 | -€433 | -3.8% |
| Profit (loss) for the period | 9904 | €44,023 | €42,005 | -€2,017 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €44,023 | €42,005 | -€2,017 | -4.6% |
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 12 October 2026 via checked.be.