Belite: 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.
Belite
Largest movements
- Tangible fixed assets +€420,645
up €420,645 (+192.0%), from €219,045 to €639,690
of which Land and buildings: +€437,736
- Receivables within one year -€179,849
down €179,849 (-80.8%), from €222,533 to €42,685
of which Trade receivables: -€184,666
- Debts after one year +€247,124
up €247,124 (+208.2%), from €118,681 to €365,805
- Current portion of long-term debt +€17,233
up €17,233 (+132.9%), from €12,963 to €30,195
- Other debts -€14,195
no longer reported in 2025 (was €14,195)
- Reserves -€8,429
down €8,429 (-3.5%), from €240,892 to €232,462
of which Distributable reserves: -€8,429
- Depreciation +€78,735
up €78,735 (+165.3%), from €47,619 to €126,355
- Gross operating margin +€39,137
up €39,137 (+37.9%), from €103,310 to €142,447
- Financial charges +€14,884
up €14,884 (+7007.6%), from €212 to €15,096
- Taxes -€8,572
down €8,572 (-74.4%), from €11,518 to €2,946
- Other operating charges +€3,021
up €3,021 (+100.2%), from €3,016 to €6,036
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 | €460,622 | €703,353 | +€242,731 | +52.7% |
| Fixed assets | 21/28 | €219,210 | €639,855 | +€420,645 | +191.9% |
| Tangible fixed assets | 22/27 | €219,045 | €639,690 | +€420,645 | +192.0% |
| Land and buildings | 22 | €98,183 | €535,919 | +€437,736 | +445.8% |
| Plant, machinery and equipment | 23 | €25,397 | €19,436 | -€5,961 | -23.5% |
| Furniture and vehicles | 24 | €64,836 | €59,245 | -€5,591 | -8.6% |
| Other tangible fixed assets | 26 | €30,629 | €25,090 | -€5,539 | -18.1% |
| Financial fixed assets | 28 | €165 | €165 | = | 0.0% |
| Current assets | 29/58 | €241,412 | €63,498 | -€177,914 | -73.7% |
| Amounts receivable within one year | 40/41 | €222,533 | €42,685 | -€179,849 | -80.8% |
| Trade receivables | 40 | €222,350 | €37,685 | -€184,666 | -83.1% |
| Other amounts receivable | 41 | €183 | €5,000 | +€4,817 | +2629.3% |
| Cash at bank and in hand | 54/58 | €13,266 | €16,322 | +€3,056 | +23.0% |
| Deferred charges and accrued income | 490/1 | €5,613 | €4,491 | -€1,121 | -20.0% |
| Total equity and liabilities | 10/49 | €460,622 | €703,353 | +€242,731 | +52.7% |
| Equity | 10/15 | €302,892 | €294,462 | -€8,429 | -2.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €240,892 | €232,462 | -€8,429 | -3.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €234,692 | €226,262 | -€8,429 | -3.6% |
| Amounts payable | 17/49 | €157,730 | €408,891 | +€251,161 | +159.2% |
| Amounts payable after more than one year | 17 | €118,681 | €365,805 | +€247,124 | +208.2% |
| Financial debts | 170/4 | €118,681 | €365,805 | +€247,124 | +208.2% |
| Amounts payable within one year | 42/48 | €39,049 | €43,086 | +€4,037 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €12,963 | €30,195 | +€17,233 | +132.9% |
| Trade debts | 44 | €4,722 | €4,939 | +€218 | +4.6% |
| Suppliers | 440/4 | €4,722 | €4,939 | +€218 | +4.6% |
| Taxes, remuneration and social security | 45 | €7,170 | €7,952 | +€781 | +10.9% |
| Taxes | 450/3 | €4,910 | €5,668 | +€758 | +15.4% |
| Remuneration and social security | 454/9 | €2,260 | €2,284 | +€23 | +1.0% |
| Other amounts payable | 47/48 | €14,195 | - | -€14,195 | |
| Non-recurring operating income | 76A | - | €12,799 | +€12,799 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,619 | €126,355 | +€78,735 | +165.3% |
| Other operating charges | 640/8 | €3,016 | €6,036 | +€3,021 | +100.2% |
| Non-recurring operating charges | 66A | €3,639 | €550 | -€3,089 | -84.9% |
| Gross operating margin | 9900 | €103,310 | €142,447 | +€39,137 | +37.9% |
| Operating profit (loss) | 9901 | €49,036 | €9,506 | -€39,530 | -80.6% |
| Financial income | 75/76B | €99 | €106 | +€8 | +7.7% |
| Recurring financial income | 75 | €99 | €106 | +€8 | +7.7% |
| Financial charges | 65/66B | €212 | €15,096 | +€14,884 | +7007.6% |
| Recurring financial charges | 65 | €212 | €15,096 | +€14,884 | +7007.6% |
| Profit (loss) for the period before taxes | 9903 | €48,922 | -€5,484 | -€54,406 | |
| Income taxes | 67/77 | €11,518 | €2,946 | -€8,572 | -74.4% |
| Profit (loss) for the period | 9904 | €37,404 | -€8,429 | -€45,834 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,404 | -€8,429 | -€45,834 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.