Belenos Invest: 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.
Belenos Invest
Largest movements
- Receivables within one year +€7,944
up €7,944 (+814%), from €977 to €8,921
of which Trade receivables: +€7,194
- Financial fixed assets +€4,968
up €4,968 (+9.9%), from €50,000 to €54,968
- Profit (loss) carried forward +€22,032
new in 2025: €22,032
- Trade debts -€10,116
down €10,116 (-78.8%), from €12,832 to €2,716
- Tax, wage and social debts +€5,148
up €5,148 (+21.3%), from €24,222 to €29,370
- Other debts -€3,243
down €3,243 (-62.1%), from €5,220 to €1,977
- Gross operating margin -€8,006
down €8,006 (-20.0%), from €40,014 to €32,008
- Taxes -€2,425
down €2,425 (-21.2%), from €11,426 to €9,001
- Depreciation +€1,004
up €1,004 (+292%), from €344 to €1,348
- Financial income +€876
new in 2025: €876
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 | €80,655 | €94,392 | +€13,737 | +17.0% |
| Fixed assets | 21/28 | €54,303 | €59,292 | +€4,989 | +9.2% |
| Intangible fixed assets | 21 | €3,659 | €2,884 | -€775 | -21.2% |
| Tangible fixed assets | 22/27 | €644 | €1,441 | +€797 | +124% |
| Furniture and vehicles | 24 | €644 | €1,441 | +€797 | +124% |
| Financial fixed assets | 28 | €50,000 | €54,968 | +€4,968 | +9.9% |
| Current assets | 29/58 | €26,353 | €35,100 | +€8,747 | +33.2% |
| Amounts receivable within one year | 40/41 | €977 | €8,921 | +€7,944 | +814% |
| Trade receivables | 40 | €977 | €8,171 | +€7,194 | +737% |
| Other amounts receivable | 41 | €0 | €750 | +€750 | |
| Current investments | 50/53 | - | €500 | +€500 | |
| Cash at bank and in hand | 54/58 | €25,376 | €25,679 | +€303 | +1.2% |
| Total equity and liabilities | 10/49 | €80,655 | €94,392 | +€13,737 | +17.0% |
| Equity | 10/15 | €36,879 | €58,911 | +€22,032 | +59.7% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €35,379 | €35,379 | = | 0.0% |
| Distributable reserves | 133 | €35,379 | €35,379 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €22,032 | +€22,032 | |
| Amounts payable | 17/49 | €43,777 | €35,482 | -€8,295 | -18.9% |
| Amounts payable within one year | 42/48 | €43,777 | €35,482 | -€8,295 | -18.9% |
| Current portion of amounts payable after more than one year | 42 | €1,502 | €1,419 | -€84 | -5.6% |
| Trade debts | 44 | €12,832 | €2,716 | -€10,116 | -78.8% |
| Suppliers | 440/4 | €12,832 | €2,716 | -€10,116 | -78.8% |
| Taxes, remuneration and social security | 45 | €24,222 | €29,370 | +€5,148 | +21.3% |
| Taxes | 450/3 | €24,222 | €29,370 | +€5,148 | +21.3% |
| Other amounts payable | 47/48 | €5,220 | €1,977 | -€3,243 | -62.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €344 | €1,348 | +€1,004 | +292% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €40,014 | €32,008 | -€8,006 | -20.0% |
| Operating profit (loss) | 9901 | €39,286 | €30,273 | -€9,012 | -22.9% |
| Financial income | 75/76B | - | €876 | +€876 | |
| Recurring financial income | 75 | - | €876 | +€876 | |
| Financial charges | 65/66B | €25 | €116 | +€91 | +359% |
| Recurring financial charges | 65 | €25 | €116 | +€91 | +359% |
| Profit (loss) for the period before taxes | 9903 | €39,261 | €31,033 | -€8,227 | -21.0% |
| Income taxes | 67/77 | €11,426 | €9,001 | -€2,425 | -21.2% |
| Profit (loss) for the period | 9904 | €27,835 | €22,032 | -€5,802 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €27,835 | €22,032 | -€5,802 | -20.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.