BELIDES: 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.
What changed
BELIDES
NACE 73.300, Public relations and communication consultancy
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€1.1m
2025 · €2.9m-€1.8m
Equity
€2.0m
2025 · €1.4m+€596,272
Cash
€24,821
2025 · €5,309+€19,512
Balance sheet total
€2.1m
2025 · €3.7m-€1.6m
Largest movements
Assets
- Current investments -€1.7m
down €1.7m (-79.8%), from €2.1m to €430,254
- Tangible fixed assets +€104,914
up €104,914 (+7.9%), from €1.3m to €1.4m
of which Other tangible fixed assets: +€477,796
Equity and liabilities
- Other debts -€1.5m
down €1.5m (-99.4%), from €1.5m to €9,208
- Tax, wage and social debts -€626,678
down €626,678 (-98.3%), from €637,764 to €11,086
- Reserves +€596,272
up €596,272 (+43.8%), from €1.4m to €2.0m
- Debts after one year -€40,647
down €40,647 (-100%), from €40,647 to €0
Income statement
- Gross operating margin -€2.4m
down €2.4m (-59.9%), from €3.9m to €1.6m
- Taxes -€612,714
down €612,714 (-62.8%), from €976,342 to €363,628
From the 2025 result to the 2026 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.
Result 2025
€2.9m
Gross operating margin
-€2.4m
Depreciation
-€2,201
Other operating charges
+€8,857
Financial income
-€29,651
Financial charges
+€1,061
Taxes
+€612,714
Result 2026
€1.1m
raises the resultlowers the result
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€881,437
Investment
+€1.5m
Financing
-€567,670
Cash 2025
€5,309
From operations (derived)
-€881,437
Net result for the year
+€1.1m
Depreciation
+€129,133
Receivables within one year
+€12,976
Deferred charges and accrued income
+€5,767
Trade debts
+€9,669
Tax, wage and social debts
-€626,678
Other debts
-€1.5m
Accrued charges and deferred income
-€1,743
Investment (derived)
+€1.5m
Investment in fixed assets (net)
-€234,046
Current investments
+€1.7m
Financing
-€567,670
Debts after one year
-€40,647
Current portion of long-term debt
-€27,023
Contributions, distributions and other
-€500,000
Cash 2026
€24,821
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,655,034 | €2,058,052 | -€1.6m | -43.7% |
| Fixed assets | 21/28 | €1,332,697 | €1,437,611 | +€104,914 | +7.9% |
| Tangible fixed assets | 22/27 | €1,332,697 | €1,437,611 | +€104,914 | +7.9% |
| Land and buildings | 22 | €440,991 | €119,985 | -€321,007 | -72.8% |
| Plant, machinery and equipment | 23 | €48,490 | €26,537 | -€21,953 | -45.3% |
| Furniture and vehicles | 24 | €121,468 | €91,545 | -€29,923 | -24.6% |
| Other tangible fixed assets | 26 | €721,748 | €1,199,544 | +€477,796 | +66.2% |
| Current assets | 29/58 | €2,322,337 | €620,441 | -€1.7m | -73.3% |
| Amounts receivable within one year | 40/41 | €173,418 | €160,443 | -€12,976 | -7.5% |
| Trade receivables | 40 | €151,060 | €146,329 | -€4,731 | -3.1% |
| Other amounts receivable | 41 | €22,358 | €14,113 | -€8,244 | -36.9% |
| Current investments | 50/53 | €2,132,919 | €430,254 | -€1.7m | -79.8% |
| Cash at bank and in hand | 54/58 | €5,309 | €24,821 | +€19,512 | +368% |
| Deferred charges and accrued income | 490/1 | €10,691 | €4,924 | -€5,767 | -53.9% |
| Total equity and liabilities | 10/49 | €3,655,034 | €2,058,052 | -€1.6m | -43.7% |
| Equity | 10/15 | €1,381,434 | €1,977,706 | +€596,272 | +43.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,362,834 | €1,959,106 | +€596,272 | +43.8% |
| Distributable reserves | 133 | €1,362,834 | €1,959,106 | +€596,272 | +43.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,273,600 | €80,346 | -€2.2m | -96.5% |
| Amounts payable after more than one year | 17 | €40,647 | €0 | -€40,647 | -100% |
| Financial debts | 170/4 | €40,647 | €0 | -€40,647 | -100% |
| Amounts payable within one year | 42/48 | €2,227,645 | €76,782 | -€2.2m | -96.6% |
| Current portion of amounts payable after more than one year | 42 | €67,670 | €40,647 | -€27,023 | -39.9% |
| Trade debts | 44 | €6,172 | €15,840 | +€9,669 | +157% |
| Suppliers | 440/4 | €6,172 | €15,840 | +€9,669 | +157% |
| Taxes, remuneration and social security | 45 | €637,764 | €11,086 | -€626,678 | -98.3% |
| Taxes | 450/3 | €637,764 | €11,086 | -€626,678 | -98.3% |
| Other amounts payable | 47/48 | €1,516,039 | €9,208 | -€1.5m | -99.4% |
| Accrued charges and deferred income | 492/3 | €5,308 | €3,564 | -€1,743 | -32.8% |
| Non-recurring operating income | 76A | €76,264 | €0 | -€76,264 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,931 | €129,133 | +€2,201 | +1.7% |
| Other operating charges | 640/8 | €15,053 | €6,196 | -€8,857 | -58.8% |
| Gross operating margin | 9900 | €3,938,739 | €1,581,397 | -€2.4m | -59.9% |
| Operating profit (loss) | 9901 | €3,796,755 | €1,446,068 | -€2.4m | -61.9% |
| Financial income | 75/76B | €46,102 | €16,451 | -€29,651 | -64.3% |
| Recurring financial income | 75 | €46,102 | €16,451 | -€29,651 | -64.3% |
| Financial charges | 65/66B | €3,681 | €2,620 | -€1,061 | -28.8% |
| Recurring financial charges | 65 | €3,681 | €2,620 | -€1,061 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | €3,839,176 | €1,459,900 | -€2.4m | -62.0% |
| Income taxes | 67/77 | €976,342 | €363,628 | -€612,714 | -62.8% |
| Profit (loss) for the period | 9904 | €2,862,834 | €1,096,272 | -€1.8m | -61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,862,834 | €1,096,272 | -€1.8m | -61.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.