BELDERM: 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.
BELDERM
Largest movements
- Cash +€4,775
up €4,775 (+782%), from €610 to €5,385
mainly Net result for the year (+€3,911) and Trade debts (+€2,738)
- Receivables within one year +€1,679
new in 2025: €1,679
of which Trade receivables: +€1,264
- Financial fixed assets +€210
up €210 (+840%), from €25 to €235
- Profit (loss) carried forward +€3,911
up €3,911 (+3.4%), from -€116,204 to -€112,293
- Trade debts +€2,738
up €2,738 (+1,160%), from €236 to €2,974
- Gross operating margin +€4,767
up €4,767, from -€775 to €3,992
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
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 | €635 | €7,299 | +€6,664 | +1,049% |
| Fixed assets | 21/28 | €25 | €235 | +€210 | +840% |
| Financial fixed assets | 28 | €25 | €235 | +€210 | +840% |
| Current assets | 29/58 | €610 | €7,064 | +€6,454 | +1,057% |
| Amounts receivable within one year | 40/41 | - | €1,679 | +€1,679 | |
| Trade receivables | 40 | - | €1,264 | +€1,264 | |
| Other amounts receivable | 41 | - | €415 | +€415 | |
| Cash at bank and in hand | 54/58 | €610 | €5,385 | +€4,775 | +782% |
| Total equity and liabilities | 10/49 | €635 | €7,299 | +€6,664 | +1,049% |
| Equity | 10/15 | -€103,804 | -€99,893 | +€3,911 | +3.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€116,204 | -€112,293 | +€3,911 | +3.4% |
| Amounts payable | 17/49 | €104,440 | €107,192 | +€2,753 | +2.6% |
| Amounts payable within one year | 42/48 | €104,440 | €107,192 | +€2,753 | +2.6% |
| Trade debts | 44 | €236 | €2,974 | +€2,738 | +1,160% |
| Suppliers | 440/4 | €236 | €2,974 | +€2,738 | +1,160% |
| Taxes, remuneration and social security | 45 | - | €15 | +€15 | |
| Taxes | 450/3 | - | €15 | +€15 | |
| Other amounts payable | 47/48 | €104,204 | €104,204 | = | 0.0% |
| Gross operating margin | 9900 | -€775 | €3,992 | +€4,767 | |
| Operating profit (loss) | 9901 | -€775 | €3,992 | +€4,767 | |
| Financial charges | 65/66B | €113 | €81 | -€32 | -28.2% |
| Recurring financial charges | 65 | €113 | €81 | -€32 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | -€888 | €3,911 | +€4,799 | |
| Profit (loss) for the period | 9904 | -€888 | €3,911 | +€4,799 | |
| Profit (loss) for the period to be appropriated | 9905 | -€888 | €3,911 | +€4,799 |
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 26 October 2026 via checked.be.