Belectro: 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.
Belectro
Largest movements
- Receivables within one year -€59,019
down €59,019 (-7.1%), from €836,884 to €777,865
of which Trade receivables: -€96,605
- Cash -€17,194
down €17,194 (-23.8%), from €72,311 to €55,116
mainly Contributions, distributions and other (-€79,450) and Net result for the year (-€63,800)
- Stocks and contracts +€10,923
up €10,923 (+14.0%), from €78,263 to €89,186
- Reserves -€79,450
down €79,450 (-22.5%), from €353,224 to €273,774
of which Distributable reserves: -€79,450
- Trade debts +€78,341
up €78,341 (+19.1%), from €409,509 to €487,849
- Profit (loss) carried forward -€63,800
down €63,800 (-35.2%), from €180,999 to €117,199
- Tax, wage and social debts -€42,533
down €42,533 (-79.3%), from €53,634 to €11,101
of which Taxes: -€22,185
- Short-term financial debts +€38,942
up €38,942 (+195%), from €19,926 to €58,867
- Gross operating margin -€131,463
down €131,463 (-22.1%), from €595,508 to €464,045
- Staff costs -€53,657
down €53,657 (-9.9%), from €540,673 to €487,016
- Depreciation +€8,578
up €8,578 (+34.6%), from €24,790 to €33,368
- Taxes -€6,450
down €6,450, from €6,450 to -€1
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 | €1,067,526 | €1,003,083 | -€64,444 | -6.0% |
| Fixed assets | 21/28 | €68,885 | €62,310 | -€6,575 | -9.5% |
| Tangible fixed assets | 22/27 | €68,885 | €62,310 | -€6,575 | -9.5% |
| Plant, machinery and equipment | 23 | €2,700 | €1,350 | -€1,350 | -50.0% |
| Furniture and vehicles | 24 | €66,185 | €60,960 | -€5,225 | -7.9% |
| Current assets | 29/58 | €998,641 | €940,773 | -€57,869 | -5.8% |
| Stocks and contracts in progress | 3 | €78,263 | €89,186 | +€10,923 | +14.0% |
| Stocks | 30/36 | €78,263 | €89,186 | +€10,923 | +14.0% |
| Amounts receivable within one year | 40/41 | €836,884 | €777,865 | -€59,019 | -7.1% |
| Trade receivables | 40 | €792,315 | €695,710 | -€96,605 | -12.2% |
| Other amounts receivable | 41 | €44,569 | €82,155 | +€37,586 | +84.3% |
| Cash at bank and in hand | 54/58 | €72,311 | €55,116 | -€17,194 | -23.8% |
| Deferred charges and accrued income | 490/1 | €11,183 | €18,605 | +€7,422 | +66.4% |
| Total equity and liabilities | 10/49 | €1,067,526 | €1,003,083 | -€64,444 | -6.0% |
| Equity | 10/15 | €552,815 | €409,565 | -€143,250 | -25.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €353,224 | €273,774 | -€79,450 | -22.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €351,365 | €271,915 | -€79,450 | -22.6% |
| Profit (loss) carried forward | 14 | €180,999 | €117,199 | -€63,800 | -35.2% |
| Amounts payable | 17/49 | €514,711 | €593,517 | +€78,806 | +15.3% |
| Amounts payable within one year | 42/48 | €507,648 | €593,517 | +€85,870 | +16.9% |
| Financial debts | 43 | €19,926 | €58,867 | +€38,942 | +195% |
| Credit institutions | 430/8 | €19,926 | €58,867 | +€38,942 | +195% |
| Trade debts | 44 | €409,509 | €487,849 | +€78,341 | +19.1% |
| Suppliers | 440/4 | €409,509 | €487,849 | +€78,341 | +19.1% |
| Taxes, remuneration and social security | 45 | €53,634 | €11,101 | -€42,533 | -79.3% |
| Taxes | 450/3 | €23,515 | €1,330 | -€22,185 | -94.3% |
| Remuneration and social security | 454/9 | €30,118 | €9,771 | -€20,348 | -67.6% |
| Other amounts payable | 47/48 | €24,580 | €35,700 | +€11,120 | +45.2% |
| Accrued charges and deferred income | 492/3 | €7,063 | - | -€7,063 | |
| Remuneration, social security and pensions | 62 | €540,673 | €487,016 | -€53,657 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,790 | €33,368 | +€8,578 | +34.6% |
| Other operating charges | 640/8 | €3,136 | €1,285 | -€1,850 | -59.0% |
| Gross operating margin | 9900 | €595,508 | €464,045 | -€131,463 | -22.1% |
| Operating profit (loss) | 9901 | €26,909 | -€57,625 | -€84,534 | |
| Financial income | 75/76B | €932 | €450 | -€481 | -51.7% |
| Recurring financial income | 75 | €932 | €450 | -€481 | -51.7% |
| Financial charges | 65/66B | €6,168 | €6,626 | +€459 | +7.4% |
| Recurring financial charges | 65 | €6,168 | €6,626 | +€459 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €21,674 | -€63,800 | -€85,474 | |
| Income taxes | 67/77 | €6,450 | -€1 | -€6,450 | |
| Profit (loss) for the period | 9904 | €15,224 | -€63,800 | -€79,024 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,224 | -€63,800 | -€79,024 |
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 14 October 2026 via checked.be.