BELEX IT: 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.
BELEX IT
Largest movements
- Cash +€42,721
up €42,721 (+31.1%), from €137,424 to €180,145
mainly Other debts (+€160,006) and Net result for the year (+€26,949)
- Receivables within one year -€2,971
down €2,971 (-7.5%), from €39,741 to €36,771
of which Trade receivables: -€30,485
- Other debts +€160,006
up €160,006 (+95315.2%), from €168 to €160,174
- Reserves -€133,051
down €133,051 (-75.1%), from €177,221 to €44,170
- Tax, wage and social debts +€13,503
up €13,503 (+531.4%), from €2,541 to €16,044
- Gross operating margin -€24,588
down €24,588 (-31.1%), from €79,104 to €54,516
- Taxes +€22,472
up €22,472 (+1063.8%), from €2,112 to €24,585
- Depreciation +€902
up €902 (+69.5%), from €1,297 to €2,199
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 | €181,393 | €221,353 | +€39,959 | +22.0% |
| Fixed assets | 21/28 | €3,840 | €4,032 | +€191 | +5.0% |
| Tangible fixed assets | 22/27 | €3,840 | €4,032 | +€191 | +5.0% |
| Furniture and vehicles | 24 | €3,840 | €4,032 | +€191 | +5.0% |
| Current assets | 29/58 | €177,553 | €217,321 | +€39,768 | +22.4% |
| Amounts receivable within one year | 40/41 | €39,741 | €36,771 | -€2,971 | -7.5% |
| Trade receivables | 40 | €39,741 | €9,257 | -€30,485 | -76.7% |
| Other amounts receivable | 41 | - | €27,514 | +€27,514 | |
| Cash at bank and in hand | 54/58 | €137,424 | €180,145 | +€42,721 | +31.1% |
| Deferred charges and accrued income | 490/1 | €388 | €405 | +€17 | +4.4% |
| Total equity and liabilities | 10/49 | €181,393 | €221,353 | +€39,959 | +22.0% |
| Equity | 10/15 | €177,221 | €44,170 | -€133,051 | -75.1% |
| Reserves | 13 | €177,221 | €44,170 | -€133,051 | -75.1% |
| Distributable reserves | 133 | €177,221 | €44,170 | -€133,051 | -75.1% |
| Amounts payable | 17/49 | €4,172 | €177,182 | +€173,010 | +4147.0% |
| Amounts payable within one year | 42/48 | €4,172 | €177,182 | +€173,010 | +4147.0% |
| Trade debts | 44 | €1,463 | €964 | -€499 | -34.1% |
| Suppliers | 440/4 | €1,463 | €964 | -€499 | -34.1% |
| Taxes, remuneration and social security | 45 | €2,541 | €16,044 | +€13,503 | +531.4% |
| Taxes | 450/3 | €2,541 | €16,044 | +€13,503 | +531.4% |
| Other amounts payable | 47/48 | €168 | €160,174 | +€160,006 | +95315.2% |
| Non-recurring operating income | 76A | €575 | - | -€575 | |
| Remuneration, social security and pensions | 62 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,297 | €2,199 | +€902 | +69.5% |
| Other operating charges | 640/8 | €303 | €261 | -€42 | -13.9% |
| Gross operating margin | 9900 | €79,104 | €54,516 | -€24,588 | -31.1% |
| Operating profit (loss) | 9901 | €77,504 | €51,657 | -€25,847 | -33.3% |
| Financial charges | 65/66B | €30 | €123 | +€93 | +310.7% |
| Recurring financial charges | 65 | €30 | €123 | +€93 | +310.7% |
| Profit (loss) for the period before taxes | 9903 | €77,474 | €51,534 | -€25,941 | -33.5% |
| Income taxes | 67/77 | €2,112 | €24,585 | +€22,472 | +1063.8% |
| Profit (loss) for the period | 9904 | €75,362 | €26,949 | -€48,413 | -64.2% |
| Profit (loss) for the period to be appropriated | 9905 | €75,362 | €26,949 | -€48,413 | -64.2% |
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.