BELGOTEST: 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.
BELGOTEST
Largest movements
- Cash +€56,751
up €56,751 (+18.8%), from €301,212 to €357,963
mainly Net result for the year (+€89,697) and Depreciation (+€30,239)
- Tangible fixed assets -€29,408
down €29,408 (-35.9%), from €81,885 to €52,477
of which Furniture and vehicles: -€25,505
- Deferred charges and accrued income +€12,394
new in 2025: €12,394
- Receivables within one year -€11,938
down €11,938 (-18.5%), from €64,542 to €52,604
of which Trade receivables: -€12,187
- Reserves +€110,000
up €110,000 (+78.6%), from €140,000 to €250,000
- Debts within one year -€56,041
down €56,041 (-20.6%), from €272,231 to €216,190
of which Trade debts: -€47,001
- Profit (loss) carried forward -€20,303
down €20,303 (-72.9%), from €27,860 to €7,557
- Debts after one year -€6,038
down €6,038 (-80.0%), from €7,548 to €1,510
- Turnover +€204,836
up €204,836 (+33.3%), from €615,559 to €820,395
- Gross operating margin +€153,098
up €153,098 (+52.2%), from €293,181 to €446,279
- Staff costs +€73,561
up €73,561 (+36.9%), from €199,185 to €272,746
- Purchases and services +€67,318
up €67,318 (+19.5%), from €344,406 to €411,724
- Write-downs +€19,035
new in 2025: €19,035
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 | €447,639 | €475,438 | +€27,799 | +6.2% |
| Fixed assets | 21/28 | €81,885 | €52,477 | -€29,408 | -35.9% |
| Tangible fixed assets | 22/27 | €81,885 | €52,477 | -€29,408 | -35.9% |
| Plant, machinery and equipment | 23 | €5,846 | €1,943 | -€3,903 | -66.8% |
| Furniture and vehicles | 24 | €76,039 | €50,534 | -€25,505 | -33.5% |
| Current assets | 29/58 | €365,754 | €422,960 | +€57,206 | +15.6% |
| Amounts receivable within one year | 40/41 | €64,542 | €52,604 | -€11,938 | -18.5% |
| Trade receivables | 40 | €64,542 | €52,355 | -€12,187 | -18.9% |
| Other amounts receivable | 41 | - | €248 | +€248 | |
| Cash at bank and in hand | 54/58 | €301,212 | €357,963 | +€56,751 | +18.8% |
| Deferred charges and accrued income | 490/1 | - | €12,394 | +€12,394 | |
| Total equity and liabilities | 10/49 | €447,639 | €475,438 | +€27,799 | +6.2% |
| Equity | 10/15 | €167,860 | €257,557 | +€89,697 | +53.4% |
| Reserves | 13 | €140,000 | €250,000 | +€110,000 | +78.6% |
| Profit (loss) carried forward | 14 | €27,860 | €7,557 | -€20,303 | -72.9% |
| Amounts payable | 17/49 | €279,779 | €217,880 | -€61,899 | -22.1% |
| Amounts payable after more than one year | 17 | €7,548 | €1,510 | -€6,038 | -80.0% |
| Financial debts | 170/4 | €7,548 | €1,510 | -€6,038 | -80.0% |
| Amounts payable within one year | 42/48 | €272,231 | €216,190 | -€56,041 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €6,038 | €6,038 | +€0 | 0.0% |
| Trade debts | 44 | €167,840 | €120,839 | -€47,001 | -28.0% |
| Suppliers | 440/4 | €167,840 | €120,839 | -€47,001 | -28.0% |
| Taxes, remuneration and social security | 45 | €97,497 | €88,787 | -€8,710 | -8.9% |
| Taxes | 450/3 | €67,856 | €47,574 | -€20,282 | -29.9% |
| Remuneration and social security | 454/9 | €29,641 | €41,213 | +€11,572 | +39.0% |
| Accrued charges and deferred income | 492/3 | - | €180 | +€180 | |
| Turnover | 70 | €615,559 | €820,395 | +€204,836 | +33.3% |
| Non-recurring operating income | 76A | €22,028 | - | -€22,028 | |
| Goods, raw materials, services and sundry goods | 60/61 | €344,406 | €411,724 | +€67,318 | +19.5% |
| Remuneration, social security and pensions | 62 | €199,185 | €272,746 | +€73,561 | +36.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,909 | €30,239 | -€2,670 | -8.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €19,035 | +€19,035 | |
| Other operating charges | 640/8 | €2,611 | €7,615 | +€5,004 | +191.7% |
| Gross operating margin | 9900 | €293,181 | €446,279 | +€153,098 | +52.2% |
| Operating profit (loss) | 9901 | €58,476 | €116,643 | +€58,167 | +99.5% |
| Financial income | 75/76B | - | €28 | +€28 | |
| Recurring financial income | 75 | - | €28 | +€28 | |
| Financial charges | 65/66B | €388 | €229 | -€159 | -41.1% |
| Recurring financial charges | 65 | €388 | €229 | -€159 | -41.1% |
| Profit (loss) for the period before taxes | 9903 | €58,088 | €116,443 | +€58,355 | +100.5% |
| Income taxes | 67/77 | €15,005 | €26,745 | +€11,740 | +78.2% |
| Profit (loss) for the period | 9904 | €43,083 | €89,697 | +€46,614 | +108.2% |
| Profit (loss) for the period to be appropriated | 9905 | €43,083 | €89,697 | +€46,614 | +108.2% |
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 6 October 2026 via checked.be.