BELGO DESIGN: 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.
BELGO DESIGN
Largest movements
- Cash +€15,227
up €15,227 (+122%), from €12,487 to €27,713
mainly Net result for the year (+€16,794) and Other debts (+€12,836)
- Stocks and contracts -€9,858
no longer reported in 2025 (was €9,858)
- Deferred charges and accrued income -€3,093
down €3,093 (-40.3%), from €7,666 to €4,573
- Receivables within one year -€1,300
down €1,300 (-7.0%), from €18,541 to €17,241
of which Trade receivables: -€6,056
- Tangible fixed assets +€871
new in 2025: €871
- Profit (loss) carried forward -€19,425
no longer reported in 2025 (was €19,425)
- Reserves +€16,220
new in 2025: €16,220
- Other debts +€12,836
up €12,836 (+179%), from €7,164 to €20,000
- Tax, wage and social debts -€6,041
down €6,041 (-97.0%), from €6,226 to €186
- Trade debts -€3,410
down €3,410 (-31.1%), from €10,955 to €7,545
- Gross operating margin +€25,955
up €25,955, from -€203 to €25,752
- Taxes +€4,332
up €4,332 (+2,332%), from €186 to €4,517
- Financial income -€688
down €688 (-98.0%), from €702 to €14
- Other operating charges +€408
new in 2025: €408
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.
Derived cash bridge
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 | €48,770 | €50,617 | +€1,846 | +3.8% |
| Fixed assets | 21/28 | €218 | €1,089 | +€871 | +399% |
| Tangible fixed assets | 22/27 | - | €871 | +€871 | |
| Plant, machinery and equipment | 23 | - | €871 | +€871 | |
| Financial fixed assets | 28 | €218 | €218 | = | 0.0% |
| Current assets | 29/58 | €48,552 | €49,527 | +€975 | +2.0% |
| Stocks and contracts in progress | 3 | €9,858 | - | -€9,858 | |
| Contracts in progress | 37 | €9,858 | - | -€9,858 | |
| Amounts receivable within one year | 40/41 | €18,541 | €17,241 | -€1,300 | -7.0% |
| Trade receivables | 40 | €7,674 | €1,618 | -€6,056 | -78.9% |
| Other amounts receivable | 41 | €10,867 | €15,623 | +€4,756 | +43.8% |
| Cash at bank and in hand | 54/58 | €12,487 | €27,713 | +€15,227 | +122% |
| Deferred charges and accrued income | 490/1 | €7,666 | €4,573 | -€3,093 | -40.3% |
| Total equity and liabilities | 10/49 | €48,770 | €50,617 | +€1,846 | +3.8% |
| Equity | 10/15 | €24,425 | €21,220 | -€3,206 | -13.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €16,220 | +€16,220 | |
| Distributable reserves | 133 | - | €16,220 | +€16,220 | |
| Profit (loss) carried forward | 14 | €19,425 | - | -€19,425 | |
| Amounts payable | 17/49 | €24,345 | €29,397 | +€5,052 | +20.8% |
| Amounts payable within one year | 42/48 | €24,345 | €29,397 | +€5,052 | +20.8% |
| Current portion of amounts payable after more than one year | 42 | - | €1,667 | +€1,667 | |
| Trade debts | 44 | €10,955 | €7,545 | -€3,410 | -31.1% |
| Suppliers | 440/4 | €10,955 | €7,545 | -€3,410 | -31.1% |
| Taxes, remuneration and social security | 45 | €6,226 | €186 | -€6,041 | -97.0% |
| Taxes | 450/3 | €6,226 | €186 | -€6,041 | -97.0% |
| Other amounts payable | 47/48 | €7,164 | €20,000 | +€12,836 | +179% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16 | €169 | +€153 | +983% |
| Other operating charges | 640/8 | - | €408 | +€408 | |
| Non-recurring operating charges | 66A | €1,722 | - | -€1,722 | |
| Gross operating margin | 9900 | -€203 | €25,752 | +€25,955 | |
| Operating profit (loss) | 9901 | -€1,940 | €25,175 | +€27,115 | |
| Financial income | 75/76B | €702 | €14 | -€688 | -98.0% |
| Recurring financial income | 75 | €702 | €14 | -€688 | -98.0% |
| Financial charges | 65/66B | €3,649 | €3,878 | +€228 | +6.3% |
| Recurring financial charges | 65 | €3,577 | €3,818 | +€241 | +6.7% |
| Non-recurring financial charges | 66B | €72 | €59 | -€13 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,887 | €21,311 | +€26,199 | |
| Income taxes | 67/77 | €186 | €4,517 | +€4,332 | +2,332% |
| Profit (loss) for the period | 9904 | -€5,073 | €16,794 | +€21,867 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,073 | €16,794 | +€21,867 |
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 14 October 2026 via checked.be.