Beldé: what changed
Two fiscal 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.
Beldé
Largest movements
- Tangible fixed assets -€92,085
down €92,085 (-45.7%), from €201,564 to €109,479
of which Plant, machinery and equipment: -€83,607
- Cash +€28,922
up €28,922 (+84.7%), from €34,128 to €63,050
mainly Net result for the year (+€122,898) and Depreciation (+€94,585)
- Receivables within one year +€10,151
up €10,151 (+7.4%), from €136,384 to €146,535
of which Other amounts receivable: +€6,000
- Profit (loss) carried forward +€122,898
up €122,898, from -€9,952 to €112,946
- Trade debts -€88,700
down €88,700 (-94.6%), from €93,746 to €5,045
- Debts after one year -€54,817
down €54,817 (-64.6%), from €84,860 to €30,044
- Accrued charges and deferred income -€25,099
down €25,099 (-100.0%), from €25,099 to €0
- Gross operating margin +€102,758
up €102,758 (+17.2%), from €598,808 to €701,566
- Staff costs -€96,018
down €96,018 (-17.5%), from €549,624 to €453,606
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 | €562,455 | €510,829 | -€51,627 | -9.2% |
| Fixed assets | 21/28 | €227,602 | €135,517 | -€92,085 | -40.5% |
| Tangible fixed assets | 22/27 | €201,564 | €109,479 | -€92,085 | -45.7% |
| Plant, machinery and equipment | 23 | €188,453 | €104,846 | -€83,607 | -44.4% |
| Furniture and vehicles | 24 | €10,686 | €3,045 | -€7,641 | -71.5% |
| Other tangible fixed assets | 26 | €2,424 | €1,588 | -€837 | -34.5% |
| Financial fixed assets | 28 | €26,038 | €26,038 | = | 0.0% |
| Current assets | 29/58 | €334,854 | €375,312 | +€40,458 | +12.1% |
| Stocks and contracts in progress | 3 | €155,636 | €154,813 | -€823 | -0.5% |
| Stocks | 30/36 | €155,636 | €154,813 | -€823 | -0.5% |
| Amounts receivable within one year | 40/41 | €136,384 | €146,535 | +€10,151 | +7.4% |
| Trade receivables | 40 | €136,384 | €140,535 | +€4,151 | +3.0% |
| Other amounts receivable | 41 | - | €6,000 | +€6,000 | |
| Cash at bank and in hand | 54/58 | €34,128 | €63,050 | +€28,922 | +84.7% |
| Deferred charges and accrued income | 490/1 | €8,706 | €10,913 | +€2,208 | +25.4% |
| Total equity and liabilities | 10/49 | €562,455 | €510,829 | -€51,627 | -9.2% |
| Equity | 10/15 | €233,297 | €356,195 | +€122,898 | +52.7% |
| 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 | €181,749 | €181,749 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,352 | €13,352 | = | 0.0% |
| Distributable reserves | 133 | €162,247 | €162,247 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,952 | €112,946 | +€122,898 | |
| Amounts payable | 17/49 | €329,158 | €154,634 | -€174,525 | -53.0% |
| Amounts payable after more than one year | 17 | €84,860 | €30,044 | -€54,817 | -64.6% |
| Financial debts | 170/4 | €84,860 | €30,044 | -€54,817 | -64.6% |
| Amounts payable within one year | 42/48 | €219,199 | €124,590 | -€94,610 | -43.2% |
| Current portion of amounts payable after more than one year | 42 | €57,695 | €54,817 | -€2,879 | -5.0% |
| Trade debts | 44 | €93,746 | €5,045 | -€88,700 | -94.6% |
| Suppliers | 440/4 | €93,746 | €5,045 | -€88,700 | -94.6% |
| Taxes, remuneration and social security | 45 | €67,758 | €64,728 | -€3,030 | -4.5% |
| Taxes | 450/3 | €8,343 | €14,645 | +€6,301 | +75.5% |
| Remuneration and social security | 454/9 | €59,415 | €50,084 | -€9,331 | -15.7% |
| Accrued charges and deferred income | 492/3 | €25,099 | €0 | -€25,099 | -100.0% |
| Non-recurring operating income | 76A | - | €11,000 | +€11,000 | |
| Remuneration, social security and pensions | 62 | €549,624 | €453,606 | -€96,018 | -17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,705 | €94,585 | -€1,120 | -1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,952 | -€359 | -€2,311 | |
| Other operating charges | 640/8 | €26,822 | €25,359 | -€1,463 | -5.5% |
| Gross operating margin | 9900 | €598,808 | €701,566 | +€102,758 | +17.2% |
| Operating profit (loss) | 9901 | -€75,296 | €128,374 | +€203,671 | |
| Financial income | 75/76B | €2 | €1,134 | +€1,132 | +61533.7% |
| Recurring financial income | 75 | €2 | €1,134 | +€1,132 | +61533.7% |
| Financial charges | 65/66B | €11,750 | €6,610 | -€5,140 | -43.7% |
| Recurring financial charges | 65 | €11,750 | €6,610 | -€5,140 | -43.7% |
| Profit (loss) for the period before taxes | 9903 | -€87,045 | €122,898 | +€209,943 | |
| Profit (loss) for the period | 9904 | -€87,045 | €122,898 | +€209,943 | |
| Profit (loss) for the period to be appropriated | 9905 | -€87,045 | €122,898 | +€209,943 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.