BELGATEQ: 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.
BELGATEQ
Largest movements
- Cash -€4,188
down €4,188 (-99.6%), from €4,205 to €17
mainly Net result for the year (-€136,199) and Deferred charges and accrued income (-€929)
- Receivables within one year -€2,082
down €2,082 (-6.0%), from €34,792 to €32,710
of which Trade receivables: -€18,611
- Tangible fixed assets -€1,342
down €1,342 (-40.5%), from €3,317 to €1,975
of which Plant, machinery and equipment: -€922
- Profit (loss) carried forward -€136,199
down €136,199 (-503.3%), from -€27,059 to -€163,258
- Other debts +€94,895
up €94,895 (+267.2%), from €35,518 to €130,413
- Tax, wage and social debts +€25,627
up €25,627 (+152.6%), from €16,799 to €42,426
of which Taxes: +€17,048
- Trade debts +€8,995
up €8,995 (+12.2%), from €73,445 to €82,440
- Staff costs +€50,962
up €50,962 (+95.1%), from €53,582 to €104,544
- Gross operating margin -€33,815
down €33,815, from €6,160 to -€27,655
- Other operating charges +€1,024
up €1,024 (+202.7%), from €505 to €1,530
- Financial charges +€838
up €838 (+398.5%), from €210 to €1,049
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 | €104,903 | €98,221 | -€6,682 | -6.4% |
| Fixed assets | 21/28 | €3,317 | €1,975 | -€1,342 | -40.5% |
| Tangible fixed assets | 22/27 | €3,317 | €1,975 | -€1,342 | -40.5% |
| Plant, machinery and equipment | 23 | €1,379 | €457 | -€922 | -66.9% |
| Furniture and vehicles | 24 | €1,938 | €1,518 | -€420 | -21.7% |
| Current assets | 29/58 | €101,586 | €96,246 | -€5,340 | -5.3% |
| Stocks and contracts in progress | 3 | €62,590 | €62,590 | = | 0.0% |
| Stocks | 30/36 | €62,590 | €62,590 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €34,792 | €32,710 | -€2,082 | -6.0% |
| Trade receivables | 40 | €34,792 | €16,181 | -€18,611 | -53.5% |
| Other amounts receivable | 41 | - | €16,529 | +€16,529 | |
| Cash at bank and in hand | 54/58 | €4,205 | €17 | -€4,188 | -99.6% |
| Deferred charges and accrued income | 490/1 | - | €929 | +€929 | |
| Total equity and liabilities | 10/49 | €104,903 | €98,221 | -€6,682 | -6.4% |
| Equity | 10/15 | -€20,859 | -€157,058 | -€136,199 | -652.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,059 | -€163,258 | -€136,199 | -503.3% |
| Amounts payable | 17/49 | €125,762 | €255,279 | +€129,517 | +103.0% |
| Amounts payable within one year | 42/48 | €125,762 | €255,279 | +€129,517 | +103.0% |
| Trade debts | 44 | €73,445 | €82,440 | +€8,995 | +12.2% |
| Suppliers | 440/4 | €73,445 | €82,440 | +€8,995 | +12.2% |
| Taxes, remuneration and social security | 45 | €16,799 | €42,426 | +€25,627 | +152.6% |
| Taxes | 450/3 | €3,016 | €20,064 | +€17,048 | +565.3% |
| Remuneration and social security | 454/9 | €13,783 | €22,362 | +€8,579 | +62.2% |
| Other amounts payable | 47/48 | €35,518 | €130,413 | +€94,895 | +267.2% |
| Remuneration, social security and pensions | 62 | €53,582 | €104,544 | +€50,962 | +95.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,084 | €1,342 | +€258 | +23.8% |
| Other operating charges | 640/8 | €505 | €1,530 | +€1,024 | +202.7% |
| Gross operating margin | 9900 | €6,160 | -€27,655 | -€33,815 | |
| Operating profit (loss) | 9901 | -€49,012 | -€135,071 | -€86,059 | -175.6% |
| Financial income | 75/76B | €0 | €37 | +€37 | +365700.0% |
| Recurring financial income | 75 | €0 | €37 | +€37 | +365700.0% |
| Financial charges | 65/66B | €210 | €1,049 | +€838 | +398.5% |
| Recurring financial charges | 65 | €210 | €1,049 | +€838 | +398.5% |
| Profit (loss) for the period before taxes | 9903 | -€49,222 | -€136,083 | -€86,861 | -176.5% |
| Income taxes | 67/77 | - | €117 | +€117 | |
| Profit (loss) for the period | 9904 | -€49,222 | -€136,199 | -€86,977 | -176.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,222 | -€136,199 | -€86,977 | -176.7% |
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.