BELDIX: 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.
BELDIX
Largest movements
- Cash +€14,845
up €14,845 (+7.5%), from €197,817 to €212,662
mainly Stocks and contracts (+€10,758) and Receivables within one year (+€9,567)
- Stocks and contracts -€10,758
down €10,758 (-10.9%), from €99,123 to €88,365
- Receivables within one year -€9,567
down €9,567 (-64.3%), from €14,885 to €5,317
of which Trade receivables: -€5,091
- Tangible fixed assets +€7,776
up €7,776 (+20.8%), from €37,371 to €45,147
- Trade debts -€14,044
down €14,044 (-6.5%), from €217,049 to €203,005
- Profit (loss) carried forward +€8,512
up €8,512 (+17.6%), from -€48,453 to -€39,941
- Tax, wage and social debts +€8,230
up €8,230 (+35.5%), from €23,181 to €31,410
- Gross operating margin +€78,478
up €78,478 (+76.6%), from €102,438 to €180,916
- Staff costs +€40,558
up €40,558 (+35.6%), from €113,916 to €154,474
- Depreciation -€4,210
down €4,210 (-31.7%), from €13,277 to €9,067
- Financial charges +€3,315
up €3,315 (+66.3%), from €5,000 to €8,315
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €364,252 | €367,150 | +€2,898 | +0.8% |
| Fixed assets | 21/28 | €37,521 | €45,452 | +€7,931 | +21.1% |
| Tangible fixed assets | 22/27 | €37,371 | €45,147 | +€7,776 | +20.8% |
| Plant, machinery and equipment | 23 | €37,371 | €45,147 | +€7,776 | +20.8% |
| Financial fixed assets | 28 | €150 | €305 | +€155 | +103.3% |
| Current assets | 29/58 | €326,731 | €321,698 | -€5,033 | -1.5% |
| Stocks and contracts in progress | 3 | €99,123 | €88,365 | -€10,758 | -10.9% |
| Stocks | 30/36 | €99,123 | €88,365 | -€10,758 | -10.9% |
| Amounts receivable within one year | 40/41 | €14,885 | €5,317 | -€9,567 | -64.3% |
| Trade receivables | 40 | €8,158 | €3,067 | -€5,091 | -62.4% |
| Other amounts receivable | 41 | €6,726 | €2,250 | -€4,476 | -66.5% |
| Cash at bank and in hand | 54/58 | €197,817 | €212,662 | +€14,845 | +7.5% |
| Deferred charges and accrued income | 490/1 | €14,907 | €15,354 | +€447 | +3.0% |
| Total equity and liabilities | 10/49 | €364,252 | €367,150 | +€2,898 | +0.8% |
| Equity | 10/15 | €114,007 | €122,519 | +€8,512 | +7.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €143,860 | €143,860 | = | 0.0% |
| Distributable reserves | 133 | €143,860 | €143,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,453 | -€39,941 | +€8,512 | +17.6% |
| Amounts payable | 17/49 | €250,245 | €244,631 | -€5,614 | -2.2% |
| Amounts payable within one year | 42/48 | €240,229 | €234,416 | -€5,814 | -2.4% |
| Trade debts | 44 | €217,049 | €203,005 | -€14,044 | -6.5% |
| Suppliers | 440/4 | €217,049 | €203,005 | -€14,044 | -6.5% |
| Taxes, remuneration and social security | 45 | €23,181 | €31,410 | +€8,230 | +35.5% |
| Remuneration and social security | 454/9 | €23,181 | €31,410 | +€8,230 | +35.5% |
| Accrued charges and deferred income | 492/3 | €10,015 | €10,215 | +€200 | +2.0% |
| Remuneration, social security and pensions | 62 | €113,916 | €154,474 | +€40,558 | +35.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,277 | €9,067 | -€4,210 | -31.7% |
| Other operating charges | 640/8 | €1,281 | €691 | -€590 | -46.1% |
| Gross operating margin | 9900 | €102,438 | €180,916 | +€78,478 | +76.6% |
| Operating profit (loss) | 9901 | -€26,037 | €16,684 | +€42,721 | |
| Financial income | 75/76B | €601 | €142 | -€459 | -76.3% |
| Recurring financial income | 75 | €601 | €142 | -€459 | -76.3% |
| Financial charges | 65/66B | €5,000 | €8,315 | +€3,315 | +66.3% |
| Recurring financial charges | 65 | €5,000 | €8,315 | +€3,315 | +66.3% |
| Profit (loss) for the period before taxes | 9903 | -€30,436 | €8,512 | +€38,948 | |
| Profit (loss) for the period | 9904 | -€30,436 | €8,512 | +€38,948 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,436 | €8,512 | +€38,948 |
Source: filed annual accounts (NBB), fiscal years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.