Beljus: 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.
Beljus
Largest movements
- Cash +€98,186
up €98,186 (+60.1%), from €163,398 to €261,583
mainly Depreciation (+€42,405) and Net result for the year (+€41,192)
- Tangible fixed assets -€29,905
down €29,905 (-18.4%), from €162,597 to €132,691
of which Plant, machinery and equipment: -€28,704
- Intangible fixed assets -€12,500
no longer reported in 2025 (was €12,500)
- Receivables within one year -€12,299
down €12,299 (-17.4%), from €70,696 to €58,397
of which Trade receivables: -€18,209
- Stocks and contracts +€10,940
up €10,940 (+3.6%), from €300,583 to €311,523
- Profit (loss) carried forward +€41,192
up €41,192 (+222%), from €18,519 to €59,711
- Trade debts +€13,280
up €13,280 (+49.6%), from €26,790 to €40,070
- Gross operating margin +€13,582
up €13,582 (+16.3%), from €83,386 to €96,969
- Taxes +€7,943
up €7,943 (+129%), from €6,168 to €14,111
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.
Derived cash bridge
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 | €715,273 | €769,695 | +€54,422 | +7.6% |
| Fixed assets | 21/28 | €180,597 | €138,191 | -€42,405 | -23.5% |
| Intangible fixed assets | 21 | €12,500 | - | -€12,500 | |
| Tangible fixed assets | 22/27 | €162,597 | €132,691 | -€29,905 | -18.4% |
| Plant, machinery and equipment | 23 | €161,229 | €132,525 | -€28,704 | -17.8% |
| Furniture and vehicles | 24 | €1,367 | €167 | -€1,201 | -87.8% |
| Financial fixed assets | 28 | €5,500 | €5,500 | = | 0.0% |
| Current assets | 29/58 | €534,676 | €631,503 | +€96,827 | +18.1% |
| Stocks and contracts in progress | 3 | €300,583 | €311,523 | +€10,940 | +3.6% |
| Stocks | 30/36 | €300,583 | €311,523 | +€10,940 | +3.6% |
| Amounts receivable within one year | 40/41 | €70,696 | €58,397 | -€12,299 | -17.4% |
| Trade receivables | 40 | €59,488 | €41,279 | -€18,209 | -30.6% |
| Other amounts receivable | 41 | €11,208 | €17,118 | +€5,910 | +52.7% |
| Cash at bank and in hand | 54/58 | €163,398 | €261,583 | +€98,186 | +60.1% |
| Total equity and liabilities | 10/49 | €715,273 | €769,695 | +€54,422 | +7.6% |
| Equity | 10/15 | €433,019 | €474,211 | +€41,192 | +9.5% |
| Contributions | 10/11 | €414,500 | €414,500 | = | 0.0% |
| Contributions outside capital | 11 | €414,500 | €414,500 | = | 0.0% |
| Other | 1109/19 | €414,500 | €414,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,519 | €59,711 | +€41,192 | +222% |
| Amounts payable | 17/49 | €282,254 | €295,484 | +€13,230 | +4.7% |
| Amounts payable after more than one year | 17 | €250,000 | €250,000 | = | 0.0% |
| Other amounts payable | 178/9 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €32,254 | €45,352 | +€13,098 | +40.6% |
| Trade debts | 44 | €26,790 | €40,070 | +€13,280 | +49.6% |
| Suppliers | 440/4 | €26,790 | €40,070 | +€13,280 | +49.6% |
| Taxes, remuneration and social security | 45 | €1,800 | €1,800 | = | 0.0% |
| Taxes | 450/3 | €1,800 | €1,800 | = | 0.0% |
| Other amounts payable | 47/48 | €3,664 | €3,482 | -€182 | -5.0% |
| Accrued charges and deferred income | 492/3 | - | €132 | +€132 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,925 | €42,405 | +€480 | +1.1% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €83,386 | €96,969 | +€13,582 | +16.3% |
| Operating profit (loss) | 9901 | €41,399 | €54,501 | +€13,102 | +31.6% |
| Financial income | 75/76B | €825 | €889 | +€64 | +7.7% |
| Recurring financial income | 75 | €825 | €889 | +€64 | +7.7% |
| Financial charges | 65/66B | €46 | €88 | +€41 | +90.0% |
| Recurring financial charges | 65 | €46 | €88 | +€41 | +90.0% |
| Profit (loss) for the period before taxes | 9903 | €42,178 | €55,303 | +€13,124 | +31.1% |
| Income taxes | 67/77 | €6,168 | €14,111 | +€7,943 | +129% |
| Profit (loss) for the period | 9904 | €36,011 | €41,192 | +€5,181 | +14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €36,011 | €41,192 | +€5,181 | +14.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.