Belintex: 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.
Belintex
Largest movements
- Cash +€30,317
up €30,317 (+743.8%), from €4,076 to €34,393
mainly Net result for the year (+€72,461) and Other debts (+€33,569)
- Tangible fixed assets -€30,232
down €30,232 (-26.6%), from €113,712 to €83,480
of which Furniture and vehicles: -€16,292
- Receivables within one year -€10,495
down €10,495 (-23.7%), from €44,329 to €33,834
of which Trade receivables: -€5,909
- Reserves -€37,483
down €37,483 (-55.0%), from €68,191 to €30,708
- Other debts +€33,569
up €33,569 (+329.1%), from €10,200 to €43,769
- Debts after one year -€16,406
down €16,406 (-39.8%), from €41,214 to €24,808
- Profit (loss) carried forward +€10,861
up €10,861 (+135.8%), from €7,995 to €18,856
- Current portion of long-term debt -€4,376
down €4,376 (-16.6%), from €26,391 to €22,016
- Gross operating margin +€80,924
up €80,924 (+167.4%), from €48,343 to €129,267
- Taxes +€17,457
up €17,457 (+537.4%), from €3,248 to €20,705
- Depreciation -€1,695
down €1,695 (-5.1%), from €33,026 to €31,331
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 | €171,260 | €161,056 | -€10,204 | -6.0% |
| Fixed assets | 21/28 | €114,162 | €84,590 | -€29,572 | -25.9% |
| Tangible fixed assets | 22/27 | €113,712 | €83,480 | -€30,232 | -26.6% |
| Furniture and vehicles | 24 | €60,227 | €43,935 | -€16,292 | -27.1% |
| Leasing and similar rights | 25 | €53,484 | €39,545 | -€13,939 | -26.1% |
| Financial fixed assets | 28 | €450 | €1,110 | +€660 | +146.7% |
| Current assets | 29/58 | €57,098 | €76,466 | +€19,367 | +33.9% |
| Stocks and contracts in progress | 3 | €7,750 | €7,653 | -€97 | -1.3% |
| Stocks | 30/36 | €7,750 | €7,653 | -€97 | -1.3% |
| Amounts receivable within one year | 40/41 | €44,329 | €33,834 | -€10,495 | -23.7% |
| Trade receivables | 40 | €36,123 | €30,213 | -€5,909 | -16.4% |
| Other amounts receivable | 41 | €8,206 | €3,620 | -€4,586 | -55.9% |
| Cash at bank and in hand | 54/58 | €4,076 | €34,393 | +€30,317 | +743.8% |
| Deferred charges and accrued income | 490/1 | €943 | €587 | -€357 | -37.8% |
| Total equity and liabilities | 10/49 | €171,260 | €161,056 | -€10,204 | -6.0% |
| Equity | 10/15 | €83,826 | €57,124 | -€26,702 | -31.9% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €68,191 | €30,708 | -€37,483 | -55.0% |
| Distributable reserves | 133 | €68,191 | €30,708 | -€37,483 | -55.0% |
| Profit (loss) carried forward | 14 | €7,995 | €18,856 | +€10,861 | +135.8% |
| Investment grants | 15 | €140 | €60 | -€80 | -57.4% |
| Amounts payable | 17/49 | €87,434 | €103,931 | +€16,498 | +18.9% |
| Amounts payable after more than one year | 17 | €41,214 | €24,808 | -€16,406 | -39.8% |
| Financial debts | 170/4 | €41,214 | €24,808 | -€16,406 | -39.8% |
| Amounts payable within one year | 42/48 | €46,220 | €79,124 | +€32,904 | +71.2% |
| Current portion of amounts payable after more than one year | 42 | €26,391 | €22,016 | -€4,376 | -16.6% |
| Trade debts | 44 | €7,505 | €9,245 | +€1,740 | +23.2% |
| Suppliers | 440/4 | €7,505 | €9,245 | +€1,740 | +23.2% |
| Taxes, remuneration and social security | 45 | €2,123 | €4,094 | +€1,971 | +92.8% |
| Taxes | 450/3 | €2,048 | €4,019 | +€1,971 | +96.2% |
| Remuneration and social security | 454/9 | €75 | €75 | = | 0.0% |
| Other amounts payable | 47/48 | €10,200 | €43,769 | +€33,569 | +329.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,026 | €31,331 | -€1,695 | -5.1% |
| Other operating charges | 640/8 | €1,075 | €1,090 | +€15 | +1.4% |
| Gross operating margin | 9900 | €48,343 | €129,267 | +€80,924 | +167.4% |
| Operating profit (loss) | 9901 | €14,243 | €96,847 | +€82,604 | +580.0% |
| Financial income | 75/76B | €225 | €190 | -€35 | -15.7% |
| Recurring financial income | 75 | €225 | €190 | -€35 | -15.7% |
| Financial charges | 65/66B | €4,882 | €3,870 | -€1,012 | -20.7% |
| Recurring financial charges | 65 | €4,882 | €3,870 | -€1,012 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €9,585 | €93,166 | +€83,581 | +872.0% |
| Income taxes | 67/77 | €3,248 | €20,705 | +€17,457 | +537.4% |
| Profit (loss) for the period | 9904 | €6,337 | €72,461 | +€66,124 | +1043.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,337 | €72,461 | +€66,124 | +1043.5% |
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.