Belgotec: 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.
Belgotec
Largest movements
- Receivables within one year -€16,873
down €16,873 (-35.2%), from €47,959 to €31,085
of which Trade receivables: -€32,993
- Cash +€14,854
up €14,854 (+810%), from €1,834 to €16,687
mainly Net result for the year (+€53,600) and Current portion of long-term debt (+€37,500)
- Receivables after one year +€10,000
new in 2025: €10,000
- Profit (loss) carried forward +€53,600
up €53,600 (+46.4%), from -€115,493 to -€61,893
- Other debts -€39,749
down €39,749 (-44.7%), from €88,869 to €49,120
- Debts after one year -€37,500
down €37,500 (-100%), from €37,500 to €0
- Current portion of long-term debt +€37,500
up €37,500 (+300%), from €12,500 to €50,000
- Tax, wage and social debts -€4,545
down €4,545 (-98.0%), from €4,636 to €92
of which Remuneration and social security: -€4,398
- Gross operating margin +€65,441
up €65,441 (+177%), from €37,039 to €102,481
- Staff costs +€14,046
up €14,046 (+41.6%), from €33,758 to €47,804
- Financial charges -€1,459
down €1,459 (-95.1%), from €1,534 to €75
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 | €53,178 | €61,158 | +€7,980 | +15.0% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €53,178 | €61,158 | +€7,980 | +15.0% |
| Amounts receivable after more than one year | 29 | - | €10,000 | +€10,000 | |
| Other amounts receivable | 291 | - | €10,000 | +€10,000 | |
| Stocks and contracts in progress | 3 | €3,386 | €3,386 | = | 0.0% |
| Stocks | 30/36 | €3,386 | €3,386 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €47,959 | €31,085 | -€16,873 | -35.2% |
| Trade receivables | 40 | €46,726 | €13,734 | -€32,993 | -70.6% |
| Other amounts receivable | 41 | €1,232 | €17,352 | +€16,119 | +1,308% |
| Cash at bank and in hand | 54/58 | €1,834 | €16,687 | +€14,854 | +810% |
| Total equity and liabilities | 10/49 | €53,178 | €61,158 | +€7,980 | +15.0% |
| Equity | 10/15 | -€109,293 | -€55,693 | +€53,600 | +49.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€115,493 | -€61,893 | +€53,600 | +46.4% |
| Amounts payable | 17/49 | €162,471 | €116,851 | -€45,620 | -28.1% |
| Amounts payable after more than one year | 17 | €37,500 | €0 | -€37,500 | -100% |
| Financial debts | 170/4 | €37,500 | €0 | -€37,500 | -100% |
| Amounts payable within one year | 42/48 | €124,971 | €116,851 | -€8,120 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €12,500 | €50,000 | +€37,500 | +300% |
| Trade debts | 44 | €18,966 | €17,639 | -€1,326 | -7.0% |
| Suppliers | 440/4 | €18,966 | €17,639 | -€1,326 | -7.0% |
| Taxes, remuneration and social security | 45 | €4,636 | €92 | -€4,545 | -98.0% |
| Taxes | 450/3 | €239 | €92 | -€147 | -61.6% |
| Remuneration and social security | 454/9 | €4,398 | €0 | -€4,398 | -100% |
| Other amounts payable | 47/48 | €88,869 | €49,120 | -€39,749 | -44.7% |
| Remuneration, social security and pensions | 62 | €33,758 | €47,804 | +€14,046 | +41.6% |
| Other operating charges | 640/8 | €758 | €984 | +€226 | +29.8% |
| Gross operating margin | 9900 | €37,039 | €102,481 | +€65,441 | +177% |
| Operating profit (loss) | 9901 | €2,523 | €53,693 | +€51,170 | +2,028% |
| Financial charges | 65/66B | €1,534 | €75 | -€1,459 | -95.1% |
| Recurring financial charges | 65 | €1,534 | €75 | -€1,459 | -95.1% |
| Profit (loss) for the period before taxes | 9903 | €989 | €53,617 | +€52,629 | +5,323% |
| Income taxes | 67/77 | €74 | €18 | -€57 | -76.3% |
| Profit (loss) for the period | 9904 | €915 | €53,600 | +€52,685 | +5,760% |
| Profit (loss) for the period to be appropriated | 9905 | €915 | €53,600 | +€52,685 | +5,760% |
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.