BELDENT: 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.
BELDENT
Largest movements
- Tangible fixed assets -€13,237
down €13,237 (-6.8%), from €194,800 to €181,563
of which Land and buildings: -€14,235
- Cash +€3,472
up €3,472 (+5.6%), from €62,007 to €65,478
mainly Net result for the year (+€16,837) and Depreciation (+€16,299)
- Receivables after one year +€3,354
up €3,354 (+23.9%), from €14,012 to €17,366
of which Trade receivables: +€17,366
- Debts after one year -€12,204
down €12,204 (-12.6%), from €96,850 to €84,645
- Reserves +€6,837
up €6,837 (+5.9%), from €116,582 to €123,418
- Gross operating margin -€18,266
down €18,266 (-26.3%), from €69,375 to €51,109
- Depreciation +€871
up €871 (+5.6%), from €15,428 to €16,299
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 | €278,621 | €274,132 | -€4,489 | -1.6% |
| Fixed assets | 21/28 | €194,800 | €181,563 | -€13,237 | -6.8% |
| Tangible fixed assets | 22/27 | €194,800 | €181,563 | -€13,237 | -6.8% |
| Land and buildings | 22 | €193,126 | €178,891 | -€14,235 | -7.4% |
| Plant, machinery and equipment | 23 | €944 | €185 | -€759 | -80.4% |
| Furniture and vehicles | 24 | €730 | €2,487 | +€1,757 | +240.8% |
| Current assets | 29/58 | €83,821 | €92,569 | +€8,748 | +10.4% |
| Amounts receivable after more than one year | 29 | €14,012 | €17,366 | +€3,354 | +23.9% |
| Trade receivables | 290 | - | €17,366 | +€17,366 | |
| Other amounts receivable | 291 | €14,012 | - | -€14,012 | |
| Amounts receivable within one year | 40/41 | €7,461 | €9,340 | +€1,879 | +25.2% |
| Trade receivables | 40 | €7,182 | €9,061 | +€1,879 | +26.2% |
| Other amounts receivable | 41 | €279 | €279 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €62,007 | €65,478 | +€3,472 | +5.6% |
| Deferred charges and accrued income | 490/1 | €341 | €385 | +€44 | +12.8% |
| Total equity and liabilities | 10/49 | €278,621 | €274,132 | -€4,489 | -1.6% |
| Equity | 10/15 | €128,976 | €135,813 | +€6,837 | +5.3% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €116,582 | €123,418 | +€6,837 | +5.9% |
| Distributable reserves | 133 | €116,582 | €123,418 | +€6,837 | +5.9% |
| Provisions and deferred taxes | 16 | €4,500 | €4,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €4,500 | €4,500 | = | 0.0% |
| Other liabilities and charges | 164/5 | €4,500 | €4,500 | = | 0.0% |
| Amounts payable | 17/49 | €145,144 | €133,819 | -€11,325 | -7.8% |
| Amounts payable after more than one year | 17 | €96,850 | €84,645 | -€12,204 | -12.6% |
| Financial debts | 170/4 | €96,850 | €84,645 | -€12,204 | -12.6% |
| Amounts payable within one year | 42/48 | €48,295 | €49,174 | +€879 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €16,364 | €14,780 | -€1,584 | -9.7% |
| Trade debts | 44 | €2,534 | €3,498 | +€963 | +38.0% |
| Suppliers | 440/4 | €2,534 | €3,498 | +€963 | +38.0% |
| Taxes, remuneration and social security | 45 | €11,088 | €12,567 | +€1,479 | +13.3% |
| Taxes | 450/3 | €11,088 | €11,452 | +€364 | +3.3% |
| Remuneration and social security | 454/9 | - | €1,115 | +€1,115 | |
| Other amounts payable | 47/48 | €18,309 | €18,329 | +€21 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,428 | €16,299 | +€871 | +5.6% |
| Other operating charges | 640/8 | €3,139 | €2,924 | -€216 | -6.9% |
| Gross operating margin | 9900 | €69,375 | €51,109 | -€18,266 | -26.3% |
| Operating profit (loss) | 9901 | €50,807 | €31,887 | -€18,920 | -37.2% |
| Financial income | 75/76B | €538 | €677 | +€139 | +25.8% |
| Recurring financial income | 75 | €538 | €677 | +€139 | +25.8% |
| Financial charges | 65/66B | €7,326 | €7,018 | -€308 | -4.2% |
| Recurring financial charges | 65 | €7,326 | €7,018 | -€308 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €44,020 | €25,545 | -€18,474 | -42.0% |
| Income taxes | 67/77 | €9,373 | €8,709 | -€664 | -7.1% |
| Profit (loss) for the period | 9904 | €34,647 | €16,837 | -€17,811 | -51.4% |
| Profit (loss) for the period to be appropriated | 9905 | €34,647 | €16,837 | -€17,811 | -51.4% |
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 6 October 2026 via checked.be.