BELENOX: 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.
BELENOX
Largest movements
- Receivables within one year +€204,240
up €204,240, from €0 to €204,240
of which Trade receivables: +€174,240
- Cash +€24,360
up €24,360 (+652.2%), from €3,735 to €28,095
mainly Net result for the year (+€179,901) and Tax, wage and social debts (+€68,045)
- Tangible fixed assets -€7,542
down €7,542 (-26.8%), from €28,132 to €20,590
- Profit (loss) carried forward +€129,781
no longer reported in 2025 (was -€129,781)
- Tax, wage and social debts +€68,045
up €68,045 (+4252.2%), from €1,600 to €69,645
- Reserves +€50,120
up €50,120 (+201.3%), from €24,900 to €75,021
- Other debts -€23,403
down €23,403 (-18.3%), from €127,825 to €104,422
- Accrued charges and deferred income -€4,000
no longer reported in 2025 (was €4,000)
- Gross operating margin +€249,013
up €249,013, from -€25,392 to €223,621
- Taxes +€32,886
up €32,886 (+14746.3%), from €223 to €33,109
- Depreciation +€2,491
up €2,491 (+32.4%), from €7,678 to €10,169
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.
Cash bridge derived
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 | €32,294 | €253,604 | +€221,310 | +685.3% |
| Fixed assets | 21/28 | €28,132 | €20,590 | -€7,542 | -26.8% |
| Tangible fixed assets | 22/27 | €28,132 | €20,590 | -€7,542 | -26.8% |
| Furniture and vehicles | 24 | €28,132 | €20,590 | -€7,542 | -26.8% |
| Current assets | 29/58 | €4,162 | €233,014 | +€228,852 | +5499.0% |
| Amounts receivable within one year | 40/41 | €0 | €204,240 | +€204,240 | |
| Trade receivables | 40 | €0 | €174,240 | +€174,240 | |
| Other amounts receivable | 41 | - | €30,000 | +€30,000 | |
| Cash at bank and in hand | 54/58 | €3,735 | €28,095 | +€24,360 | +652.2% |
| Deferred charges and accrued income | 490/1 | €427 | €679 | +€252 | +59.1% |
| Total equity and liabilities | 10/49 | €32,294 | €253,604 | +€221,310 | +685.3% |
| Equity | 10/15 | -€101,880 | €78,021 | +€179,901 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €24,900 | €75,021 | +€50,120 | +201.3% |
| Distributable reserves | 133 | €24,900 | €75,021 | +€50,120 | +201.3% |
| Profit (loss) carried forward | 14 | -€129,781 | - | +€129,781 | |
| Amounts payable | 17/49 | €134,174 | €175,583 | +€41,409 | +30.9% |
| Amounts payable within one year | 42/48 | €130,174 | €175,583 | +€45,409 | +34.9% |
| Trade debts | 44 | €749 | €1,516 | +€767 | +102.3% |
| Suppliers | 440/4 | €749 | €1,516 | +€767 | +102.3% |
| Taxes, remuneration and social security | 45 | €1,600 | €69,645 | +€68,045 | +4252.2% |
| Taxes | 450/3 | €1,600 | €69,645 | +€68,045 | +4252.2% |
| Other amounts payable | 47/48 | €127,825 | €104,422 | -€23,403 | -18.3% |
| Accrued charges and deferred income | 492/3 | €4,000 | - | -€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,678 | €10,169 | +€2,491 | +32.4% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€25,392 | €223,621 | +€249,013 | |
| Operating profit (loss) | 9901 | -€33,458 | €213,052 | +€246,510 | |
| Financial income | 75/76B | €0 | €44 | +€44 | |
| Recurring financial income | 75 | €0 | €44 | +€44 | |
| Financial charges | 65/66B | €206 | €86 | -€120 | -58.3% |
| Recurring financial charges | 65 | €206 | €86 | -€120 | -58.3% |
| Profit (loss) for the period before taxes | 9903 | -€33,664 | €213,010 | +€246,674 | |
| Income taxes | 67/77 | €223 | €33,109 | +€32,886 | +14746.3% |
| Profit (loss) for the period | 9904 | -€33,887 | €179,901 | +€213,788 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,887 | €179,901 | +€213,788 |
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 10 October 2026 via checked.be.