BELENA: 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.
BELENA
Largest movements
- Receivables within one year +€34,530
up €34,530 (+2,222%), from €1,554 to €36,084
of which Trade receivables: +€34,530
- Stocks and contracts +€22,526
new in 2025: €22,526
- Cash -€789
down €789 (-98.8%), from €799 to €10
mainly Receivables within one year (-€34,530) and Net result for the year (-€32,887)
- Tax, wage and social debts +€43,075
new in 2025: €43,075
of which Remuneration and social security: +€30,072
- Profit (loss) carried forward -€32,887
down €32,887 (-2,454%), from -€1,340 to -€34,227
- Other debts +€26,680
new in 2025: €26,680
- Trade debts +€19,399
up €19,399 (+1,448%), from €1,340 to €20,739
- Staff costs +€54,447
new in 2025: €54,447
- Gross operating margin +€27,222
up €27,222, from -€1,340 to €25,882
- Financial charges +€2,375
new in 2025: €2,375
- Other operating charges +€1,947
new in 2025: €1,947
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 | €2,352 | €58,619 | +€56,267 | +2,392% |
| Current assets | 29/58 | €2,352 | €58,619 | +€56,267 | +2,392% |
| Stocks and contracts in progress | 3 | - | €22,526 | +€22,526 | |
| Stocks | 30/36 | - | €22,526 | +€22,526 | |
| Amounts receivable within one year | 40/41 | €1,554 | €36,084 | +€34,530 | +2,222% |
| Trade receivables | 40 | €1,554 | €36,084 | +€34,530 | +2,223% |
| Other amounts receivable | 41 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €799 | €10 | -€789 | -98.8% |
| Total equity and liabilities | 10/49 | €2,352 | €58,619 | +€56,267 | +2,392% |
| Equity | 10/15 | €660 | -€32,227 | -€32,887 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,340 | -€34,227 | -€32,887 | -2,454% |
| Amounts payable | 17/49 | €1,692 | €90,846 | +€89,154 | +5,269% |
| Amounts payable within one year | 42/48 | €1,692 | €90,846 | +€89,154 | +5,269% |
| Trade debts | 44 | €1,340 | €20,739 | +€19,399 | +1,448% |
| Suppliers | 440/4 | €1,340 | €20,739 | +€19,399 | +1,448% |
| Advances received on contracts in progress | 46 | €352 | €352 | = | 0.0% |
| Taxes, remuneration and social security | 45 | - | €43,075 | +€43,075 | |
| Taxes | 450/3 | - | €13,003 | +€13,003 | |
| Remuneration and social security | 454/9 | - | €30,072 | +€30,072 | |
| Other amounts payable | 47/48 | - | €26,680 | +€26,680 | |
| Remuneration, social security and pensions | 62 | - | €54,447 | +€54,447 | |
| Other operating charges | 640/8 | - | €1,947 | +€1,947 | |
| Gross operating margin | 9900 | -€1,340 | €25,882 | +€27,222 | |
| Operating profit (loss) | 9901 | -€1,340 | -€30,512 | -€29,172 | -2,177% |
| Financial charges | 65/66B | - | €2,375 | +€2,375 | |
| Recurring financial charges | 65 | - | €2,375 | +€2,375 | |
| Profit (loss) for the period before taxes | 9903 | -€1,340 | -€32,887 | -€31,547 | -2,354% |
| Profit (loss) for the period | 9904 | -€1,340 | -€32,887 | -€31,547 | -2,354% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,340 | -€32,887 | -€31,547 | -2,354% |
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 15 October 2026 via checked.be.