BELDIMED: 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.
BELDIMED
Largest movements
- Cash -€216,402
down €216,402 (-38.5%), from €562,206 to €345,804
mainly Trade debts (-€410,291) and Contributions, distributions and other (-€150,000)
- Receivables within one year -€164,651
down €164,651 (-18.0%), from €915,630 to €750,979
of which Trade receivables: -€135,203
- Stocks and contracts +€116,045
up €116,045 (+13.7%), from €849,818 to €965,862
- Deferred charges and accrued income +€33,463
up €33,463 (+139%), from €24,067 to €57,530
- Trade debts -€410,291
down €410,291 (-32.9%), from €1.2m to €838,083
- Advances received +€388,197
new in 2025: €388,197
- Profit (loss) carried forward -€111,827
down €111,827 (-15.4%), from €724,676 to €612,849
- Other debts -€100,000
down €100,000 (-40.0%), from €250,000 to €150,000
- Gross operating margin -€303,436
down €303,436 (-27.8%), from €1.1m to €789,471
- Write-downs -€111,177
no longer reported in 2025 (was €111,177)
- Other operating charges -€45,385
down €45,385 (-94.7%), from €47,950 to €2,565
- Taxes -€38,352
down €38,352 (-62.8%), from €61,038 to €22,686
- Financial income -€21,969
down €21,969 (-57.3%), from €38,313 to €16,344
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 | €2,405,914 | €2,162,886 | -€243,028 | -10.1% |
| Fixed assets | 21/28 | €54,047 | €42,710 | -€11,337 | -21.0% |
| Intangible fixed assets | 21 | €3,564 | €1,957 | -€1,607 | -45.1% |
| Tangible fixed assets | 22/27 | €27,425 | €19,695 | -€7,730 | -28.2% |
| Plant, machinery and equipment | 23 | €17,855 | €13,237 | -€4,618 | -25.9% |
| Furniture and vehicles | 24 | €9,570 | €6,459 | -€3,112 | -32.5% |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Financial fixed assets | 28 | €23,058 | €21,058 | -€2,000 | -8.7% |
| Current assets | 29/58 | €2,351,867 | €2,120,176 | -€231,691 | -9.9% |
| Stocks and contracts in progress | 3 | €849,818 | €965,862 | +€116,045 | +13.7% |
| Stocks | 30/36 | €849,818 | €965,862 | +€116,045 | +13.7% |
| Amounts receivable within one year | 40/41 | €915,630 | €750,979 | -€164,651 | -18.0% |
| Trade receivables | 40 | €780,249 | €645,046 | -€135,203 | -17.3% |
| Other amounts receivable | 41 | €135,381 | €105,933 | -€29,448 | -21.8% |
| Current investments | 50/53 | €146 | - | -€146 | |
| Cash at bank and in hand | 54/58 | €562,206 | €345,804 | -€216,402 | -38.5% |
| Deferred charges and accrued income | 490/1 | €24,067 | €57,530 | +€33,463 | +139% |
| Total equity and liabilities | 10/49 | €2,405,914 | €2,162,886 | -€243,028 | -10.1% |
| Equity | 10/15 | €792,847 | €681,049 | -€111,798 | -14.1% |
| Contributions | 10/11 | €61,973 | €62,000 | +€27 | 0.0% |
| Capital | 10 | €61,973 | €62,000 | +€27 | 0.0% |
| Issued capital | 100 | €61,973 | €62,000 | +€27 | 0.0% |
| Reserves | 13 | €6,197 | €6,200 | +€3 | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,200 | +€3 | 0.0% |
| Legal reserve | 130 | €6,197 | €6,200 | +€3 | 0.0% |
| Profit (loss) carried forward | 14 | €724,676 | €612,849 | -€111,827 | -15.4% |
| Amounts payable | 17/49 | €1,613,066 | €1,481,837 | -€131,229 | -8.1% |
| Amounts payable within one year | 42/48 | €1,611,588 | €1,481,837 | -€129,751 | -8.1% |
| Trade debts | 44 | €1,248,374 | €838,083 | -€410,291 | -32.9% |
| Suppliers | 440/4 | €1,248,374 | €838,083 | -€410,291 | -32.9% |
| Advances received on contracts in progress | 46 | - | €388,197 | +€388,197 | |
| Taxes, remuneration and social security | 45 | €113,213 | €105,557 | -€7,656 | -6.8% |
| Taxes | 450/3 | €11,592 | €39,999 | +€28,407 | +245% |
| Remuneration and social security | 454/9 | €101,621 | €65,558 | -€36,063 | -35.5% |
| Other amounts payable | 47/48 | €250,000 | €150,000 | -€100,000 | -40.0% |
| Accrued charges and deferred income | 492/3 | €1,479 | - | -€1,479 | |
| Remuneration, social security and pensions | 62 | €588,384 | €596,968 | +€8,584 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,862 | €10,724 | +€862 | +8.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €111,177 | - | -€111,177 | |
| Other operating charges | 640/8 | €47,950 | €2,565 | -€45,385 | -94.7% |
| Non-recurring operating charges | 66A | €123,799 | €96,317 | -€27,482 | -22.2% |
| Gross operating margin | 9900 | €1,092,907 | €789,471 | -€303,436 | -27.8% |
| Operating profit (loss) | 9901 | €211,734 | €82,896 | -€128,838 | -60.8% |
| Financial income | 75/76B | €38,313 | €16,344 | -€21,969 | -57.3% |
| Recurring financial income | 75 | €38,313 | €16,344 | -€21,969 | -57.3% |
| Financial charges | 65/66B | €31,991 | €38,352 | +€6,362 | +19.9% |
| Recurring financial charges | 65 | €31,991 | €38,352 | +€6,362 | +19.9% |
| Profit (loss) for the period before taxes | 9903 | €218,056 | €60,887 | -€157,169 | -72.1% |
| Income taxes | 67/77 | €61,038 | €22,686 | -€38,352 | -62.8% |
| Profit (loss) for the period | 9904 | €157,019 | €38,202 | -€118,817 | -75.7% |
| Profit (loss) for the period to be appropriated | 9905 | €157,019 | €38,202 | -€118,817 | -75.7% |
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 23 October 2026 via checked.be.