BeLes: 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.
BeLes
Largest movements
- Tangible fixed assets +€30,017
up €30,017 (+9.4%), from €319,284 to €349,301
of which Land and buildings: +€16,752
- Cash -€19,890
down €19,890 (-63.5%), from €31,301 to €11,411
mainly Investment in fixed assets (net) (-€41,432) and Receivables within one year (-€4,724)
- Receivables within one year +€4,724
up €4,724 (+101.7%), from €4,644 to €9,369
of which Trade receivables: +€3,817
- Reserves +€13,046
up €13,046 (+93.6%), from €13,942 to €26,987
of which Distributable reserves: +€13,046
- Gross operating margin +€7,647
up €7,647 (+22.1%), from €34,640 to €42,287
- Depreciation +€1,351
up €1,351 (+13.7%), from €9,844 to €11,195
- Taxes +€455
up €455 (+18.0%), from €2,533 to €2,988
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 | €355,480 | €370,551 | +€15,071 | +4.2% |
| Fixed assets | 21/28 | €319,534 | €349,771 | +€30,237 | +9.5% |
| Tangible fixed assets | 22/27 | €319,284 | €349,301 | +€30,017 | +9.4% |
| Land and buildings | 22 | €319,284 | €336,037 | +€16,752 | +5.2% |
| Plant, machinery and equipment | 23 | - | €13,264 | +€13,264 | |
| Financial fixed assets | 28 | €250 | €470 | +€220 | +88.0% |
| Current assets | 29/58 | €35,945 | €20,780 | -€15,166 | -42.2% |
| Amounts receivable within one year | 40/41 | €4,644 | €9,369 | +€4,724 | +101.7% |
| Trade receivables | 40 | €1,939 | €5,756 | +€3,817 | +196.8% |
| Other amounts receivable | 41 | €2,705 | €3,612 | +€907 | +33.5% |
| Cash at bank and in hand | 54/58 | €31,301 | €11,411 | -€19,890 | -63.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €355,480 | €370,551 | +€15,071 | +4.2% |
| Equity | 10/15 | €32,542 | €45,587 | +€13,046 | +40.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,942 | €26,987 | +€13,046 | +93.6% |
| Non-distributable reserves | 130/1 | €375 | €375 | = | 0.0% |
| Reserves not available under the articles | 1311 | €375 | €375 | = | 0.0% |
| Distributable reserves | 133 | €13,567 | €26,612 | +€13,046 | +96.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €322,938 | €324,964 | +€2,025 | +0.6% |
| Amounts payable after more than one year | 17 | €285,542 | €286,548 | +€1,006 | +0.4% |
| Financial debts | 170/4 | €285,542 | €286,548 | +€1,006 | +0.4% |
| Amounts payable within one year | 42/48 | €36,897 | €38,416 | +€1,519 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €4,926 | €5,125 | +€199 | +4.0% |
| Trade debts | 44 | €2,056 | €1,658 | -€398 | -19.4% |
| Suppliers | 440/4 | €2,056 | €1,658 | -€398 | -19.4% |
| Taxes, remuneration and social security | 45 | €1,321 | €1,682 | +€361 | +27.3% |
| Taxes | 450/3 | €1,321 | €1,682 | +€361 | +27.3% |
| Other amounts payable | 47/48 | €28,593 | €29,951 | +€1,358 | +4.7% |
| Accrued charges and deferred income | 492/3 | €500 | €0 | -€500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,844 | €11,195 | +€1,351 | +13.7% |
| Other operating charges | 640/8 | €1,512 | €1,620 | +€108 | +7.2% |
| Gross operating margin | 9900 | €34,640 | €42,287 | +€7,647 | +22.1% |
| Operating profit (loss) | 9901 | €23,284 | €29,471 | +€6,187 | +26.6% |
| Financial income | 75/76B | €44 | €70 | +€26 | +59.7% |
| Recurring financial income | 75 | €44 | €70 | +€26 | +59.7% |
| Financial charges | 65/66B | €13,545 | €13,508 | -€37 | -0.3% |
| Recurring financial charges | 65 | €13,545 | €13,508 | -€37 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €9,783 | €16,034 | +€6,251 | +63.9% |
| Income taxes | 67/77 | €2,533 | €2,988 | +€455 | +18.0% |
| Profit (loss) for the period | 9904 | €7,250 | €13,046 | +€5,796 | +79.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,250 | €13,046 | +€5,796 | +79.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.