Belitrudo: 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.
Belitrudo
Largest movements
- Receivables within one year +€132,621
up €132,621 (+21.1%), from €628,334 to €760,954
of which Other amounts receivable: +€160,373
- Cash +€13,114
up €13,114 (+1,607%), from €816 to €13,930
- Other debts +€152,183
up €152,183 (+59.9%), from €254,034 to €406,216
- Profit (loss) carried forward -€43,895
down €43,895, from €37,153 to -€6,743
- Advances received +€21,780
up €21,780 (+6.3%), from €343,806 to €365,586
- Other operating charges +€50,839
up €50,839 (+3,093%), from €1,644 to €52,482
- Gross operating margin -€10,451
down €10,451 (-37.2%), from €28,076 to €17,625
- Taxes -€3,599
down €3,599 (-87.8%), from €4,099 to €500
- Financial charges +€2,366
up €2,366 (+44.2%), from €5,358 to €7,725
- Depreciation +€874
new in 2025: €874
From the 2023 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.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €850,791 | €996,153 | +€145,361 | +17.1% |
| Fixed assets | 21/28 | €219,494 | €221,269 | +€1,774 | +0.8% |
| Tangible fixed assets | 22/27 | - | €1,774 | +€1,774 | |
| Furniture and vehicles | 24 | - | €1,774 | +€1,774 | |
| Financial fixed assets | 28 | €219,494 | €219,494 | = | 0.0% |
| Current assets | 29/58 | €631,297 | €774,884 | +€143,587 | +22.7% |
| Amounts receivable within one year | 40/41 | €628,334 | €760,954 | +€132,621 | +21.1% |
| Trade receivables | 40 | €183,194 | €155,442 | -€27,752 | -15.1% |
| Other amounts receivable | 41 | €445,140 | €605,513 | +€160,373 | +36.0% |
| Cash at bank and in hand | 54/58 | €816 | €13,930 | +€13,114 | +1,607% |
| Deferred charges and accrued income | 490/1 | €2,147 | €0 | -€2,147 | -100% |
| Total equity and liabilities | 10/49 | €850,791 | €996,153 | +€145,361 | +17.1% |
| Equity | 10/15 | €200,423 | €166,135 | -€34,288 | -17.1% |
| Contributions | 10/11 | €38,000 | €38,000 | = | 0.0% |
| Reserves | 13 | €125,270 | €134,878 | +€9,608 | +7.7% |
| Non-distributable reserves | 130/1 | €3,800 | €3,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €3,800 | +€3,800 | |
| Other | 1319 | €3,800 | - | -€3,800 | |
| Distributable reserves | 133 | €121,470 | €131,078 | +€9,608 | +7.9% |
| Profit (loss) carried forward | 14 | €37,153 | -€6,743 | -€43,895 | |
| Amounts payable | 17/49 | €650,368 | €830,017 | +€179,649 | +27.6% |
| Amounts payable within one year | 42/48 | €650,368 | €830,017 | +€179,649 | +27.6% |
| Financial debts | 43 | €40,000 | €40,000 | = | 0.0% |
| Credit institutions | 430/8 | €40,000 | €40,000 | = | 0.0% |
| Trade debts | 44 | €623 | €956 | +€334 | +53.6% |
| Suppliers | 440/4 | €623 | €956 | +€334 | +53.6% |
| Advances received on contracts in progress | 46 | €343,806 | €365,586 | +€21,780 | +6.3% |
| Taxes, remuneration and social security | 45 | €11,906 | €17,258 | +€5,353 | +45.0% |
| Taxes | 450/3 | €11,906 | €9,758 | -€2,147 | -18.0% |
| Remuneration and social security | 454/9 | - | €7,500 | +€7,500 | |
| Other amounts payable | 47/48 | €254,034 | €406,216 | +€152,183 | +59.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €874 | +€874 | |
| Other operating charges | 640/8 | €1,644 | €52,482 | +€50,839 | +3,093% |
| Gross operating margin | 9900 | €28,076 | €17,625 | -€10,451 | -37.2% |
| Operating profit (loss) | 9901 | €26,433 | -€35,731 | -€62,163 | |
| Financial income | 75/76B | - | €60 | +€60 | |
| Recurring financial income | 75 | - | €60 | +€60 | |
| Financial charges | 65/66B | €5,358 | €7,725 | +€2,366 | +44.2% |
| Recurring financial charges | 65 | €5,358 | €7,725 | +€2,366 | +44.2% |
| Profit (loss) for the period before taxes | 9903 | €21,074 | -€43,395 | -€64,470 | |
| Income taxes | 67/77 | €4,099 | €500 | -€3,599 | -87.8% |
| Profit (loss) for the period | 9904 | €16,975 | -€43,895 | -€60,870 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,975 | -€43,895 | -€60,870 |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.