Belgcast: 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.
Belgcast
Largest movements
- Cash +€33,145
up €33,145 (+466.7%), from €7,102 to €40,246
mainly Net result for the year (+€56,278) and Stocks and contracts (+€26,940)
- Stocks and contracts -€26,940
down €26,940 (-14.6%), from €183,945 to €157,005
- Tangible fixed assets +€6,589
new in 2025: €6,589
- Receivables within one year +€5,690
up €5,690 (+12.3%), from €46,200 to €51,890
of which Trade receivables: +€7,245
- Profit (loss) carried forward +€56,278
up €56,278 (+6.3%), from -€893,593 to -€837,315
- Other debts -€40,600
down €40,600 (-25.8%), from €157,084 to €116,484
- Tax, wage and social debts +€7,050
up €7,050 (+152.6%), from €4,620 to €11,670
of which Taxes: +€7,050
- Trade debts -€4,244
down €4,244 (-36.3%), from €11,699 to €7,455
- Gross operating margin +€90,569
up €90,569 (+329.5%), from €27,485 to €118,054
- Staff costs +€1,738
up €1,738 (+3.0%), from €57,885 to €59,623
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 | €237,247 | €255,731 | +€18,485 | +7.8% |
| Fixed assets | 21/28 | - | €6,589 | +€6,589 | |
| Tangible fixed assets | 22/27 | - | €6,589 | +€6,589 | |
| Plant, machinery and equipment | 23 | - | €6,589 | +€6,589 | |
| Current assets | 29/58 | €237,247 | €249,142 | +€11,895 | +5.0% |
| Stocks and contracts in progress | 3 | €183,945 | €157,005 | -€26,940 | -14.6% |
| Stocks | 30/36 | €183,945 | €157,005 | -€26,940 | -14.6% |
| Amounts receivable within one year | 40/41 | €46,200 | €51,890 | +€5,690 | +12.3% |
| Trade receivables | 40 | €44,645 | €51,890 | +€7,245 | +16.2% |
| Other amounts receivable | 41 | €1,554 | - | -€1,554 | |
| Cash at bank and in hand | 54/58 | €7,102 | €40,246 | +€33,145 | +466.7% |
| Total equity and liabilities | 10/49 | €237,247 | €255,731 | +€18,485 | +7.8% |
| Equity | 10/15 | -€686,156 | -€629,878 | +€56,278 | +8.2% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €7,437 | €7,437 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€893,593 | -€837,315 | +€56,278 | +6.3% |
| Amounts payable | 17/49 | €923,403 | €885,609 | -€37,793 | -4.1% |
| Amounts payable after more than one year | 17 | €750,000 | €750,000 | = | 0.0% |
| Financial debts | 170/4 | €750,000 | €750,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €173,403 | €135,609 | -€37,793 | -21.8% |
| Trade debts | 44 | €11,699 | €7,455 | -€4,244 | -36.3% |
| Suppliers | 440/4 | €11,699 | €7,455 | -€4,244 | -36.3% |
| Taxes, remuneration and social security | 45 | €4,620 | €11,670 | +€7,050 | +152.6% |
| Taxes | 450/3 | - | €7,050 | +€7,050 | |
| Remuneration and social security | 454/9 | €4,620 | €4,620 | = | 0.0% |
| Other amounts payable | 47/48 | €157,084 | €116,484 | -€40,600 | -25.8% |
| Remuneration, social security and pensions | 62 | €57,885 | €59,623 | +€1,738 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,027 | +€1,027 | |
| Other operating charges | 640/8 | €790 | €841 | +€51 | +6.5% |
| Gross operating margin | 9900 | €27,485 | €118,054 | +€90,569 | +329.5% |
| Operating profit (loss) | 9901 | -€31,189 | €56,564 | +€87,753 | |
| Financial income | 75/76B | €22 | €103 | +€81 | +367.1% |
| Recurring financial income | 75 | €22 | €103 | +€81 | +367.1% |
| Financial charges | 65/66B | €268 | €388 | +€120 | +44.8% |
| Recurring financial charges | 65 | €268 | €388 | +€120 | +44.8% |
| Profit (loss) for the period before taxes | 9903 | -€31,436 | €56,278 | +€87,713 | |
| Profit (loss) for the period | 9904 | -€31,436 | €56,278 | +€87,713 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,436 | €56,278 | +€87,713 |
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 8 October 2026 via checked.be.