BELIS: 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.
BELIS
Largest movements
- Stocks and contracts +€50,716
up €50,716 (+16.8%), from €302,353 to €353,069
- Cash -€31,379
down €31,379 (-27.5%), from €113,995 to €82,617
mainly Stocks and contracts (-€50,716) and Other debts (-€11,668)
- Short-term financial debts +€15,000
up €15,000 (+50.0%), from €30,000 to €45,000
- Other debts -€11,668
down €11,668 (-10.9%), from €106,605 to €94,936
- Tax, wage and social debts +€10,325
up €10,325 (+15.6%), from €66,205 to €76,530
of which Remuneration and social security: +€7,897
- Contributions +€5,000
up €5,000 (+10.0%), from €50,000 to €55,000
- Reserves +€5,000
up €5,000 (+3.7%), from €135,000 to €140,000
of which Distributable reserves: +€10,000
- Staff costs +€13,754
up €13,754 (+10.6%), from €129,741 to €143,495
- Financial income +€4,587
up €4,587 (+37.6%), from €12,189 to €16,777
- Taxes -€4,155
down €4,155 (-38.7%), from €10,731 to €6,576
- Depreciation +€1,948
up €1,948 (+38.6%), from €5,042 to €6,989
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 | €443,005 | €466,331 | +€23,327 | +5.3% |
| Fixed assets | 21/28 | €11,184 | €12,421 | +€1,237 | +11.1% |
| Tangible fixed assets | 22/27 | €10,774 | €12,011 | +€1,237 | +11.5% |
| Plant, machinery and equipment | 23 | €297 | - | -€297 | |
| Furniture and vehicles | 24 | €10,477 | €12,011 | +€1,535 | +14.6% |
| Financial fixed assets | 28 | €410 | €410 | = | 0.0% |
| Current assets | 29/58 | €431,820 | €453,910 | +€22,090 | +5.1% |
| Stocks and contracts in progress | 3 | €302,353 | €353,069 | +€50,716 | +16.8% |
| Stocks | 30/36 | €302,353 | €353,069 | +€50,716 | +16.8% |
| Amounts receivable within one year | 40/41 | €13,066 | €16,057 | +€2,991 | +22.9% |
| Trade receivables | 40 | €12,017 | €11,539 | -€478 | -4.0% |
| Other amounts receivable | 41 | €1,050 | €4,518 | +€3,469 | +330.5% |
| Cash at bank and in hand | 54/58 | €113,995 | €82,617 | -€31,379 | -27.5% |
| Deferred charges and accrued income | 490/1 | €2,405 | €2,167 | -€238 | -9.9% |
| Total equity and liabilities | 10/49 | €443,005 | €466,331 | +€23,327 | +5.3% |
| Equity | 10/15 | €221,230 | €235,330 | +€14,100 | +6.4% |
| Contributions | 10/11 | €50,000 | €55,000 | +€5,000 | +10.0% |
| Capital | 10 | €50,000 | - | -€50,000 | |
| Issued capital | 100 | €50,000 | - | -€50,000 | |
| Reserves | 13 | €135,000 | €140,000 | +€5,000 | +3.7% |
| Non-distributable reserves | 130/1 | €5,000 | - | -€5,000 | |
| Legal reserve | 130 | €5,000 | - | -€5,000 | |
| Distributable reserves | 133 | €130,000 | €140,000 | +€10,000 | +7.7% |
| Profit (loss) carried forward | 14 | €36,230 | €40,330 | +€4,100 | +11.3% |
| Amounts payable | 17/49 | €221,775 | €231,002 | +€9,227 | +4.2% |
| Amounts payable within one year | 42/48 | €221,775 | €229,884 | +€8,110 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €4,057 | €3,386 | -€671 | -16.5% |
| Financial debts | 43 | €30,000 | €45,000 | +€15,000 | +50.0% |
| Credit institutions | 430/8 | €30,000 | €45,000 | +€15,000 | +50.0% |
| Trade debts | 44 | €14,908 | €10,032 | -€4,876 | -32.7% |
| Suppliers | 440/4 | €14,908 | €10,032 | -€4,876 | -32.7% |
| Taxes, remuneration and social security | 45 | €66,205 | €76,530 | +€10,325 | +15.6% |
| Taxes | 450/3 | €35,272 | €37,699 | +€2,427 | +6.9% |
| Remuneration and social security | 454/9 | €30,933 | €38,831 | +€7,897 | +25.5% |
| Other amounts payable | 47/48 | €106,605 | €94,936 | -€11,668 | -10.9% |
| Accrued charges and deferred income | 492/3 | - | €1,117 | +€1,117 | |
| Remuneration, social security and pensions | 62 | €129,741 | €143,495 | +€13,754 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,042 | €6,989 | +€1,948 | +38.6% |
| Other operating charges | 640/8 | €1,909 | €1,981 | +€72 | +3.8% |
| Gross operating margin | 9900 | €162,637 | €162,098 | -€539 | -0.3% |
| Operating profit (loss) | 9901 | €25,946 | €9,633 | -€16,313 | -62.9% |
| Financial income | 75/76B | €12,189 | €16,777 | +€4,587 | +37.6% |
| Recurring financial income | 75 | €12,189 | €16,777 | +€4,587 | +37.6% |
| Financial charges | 65/66B | €4,516 | €5,733 | +€1,218 | +27.0% |
| Recurring financial charges | 65 | €4,516 | €5,733 | +€1,218 | +27.0% |
| Profit (loss) for the period before taxes | 9903 | €33,619 | €20,676 | -€12,944 | -38.5% |
| Income taxes | 67/77 | €10,731 | €6,576 | -€4,155 | -38.7% |
| Profit (loss) for the period | 9904 | €22,888 | €14,100 | -€8,789 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,888 | €14,100 | -€8,789 | -38.4% |
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 2 October 2026 via checked.be.