BELKOM: 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.
BELKOM
Largest movements
- Receivables within one year +€38,213
up €38,213 (+184%), from €20,746 to €58,959
of which Trade receivables: +€37,926
- Cash -€33,226
down €33,226 (-87.3%), from €38,052 to €4,826
mainly Investment in fixed assets (net) (-€38,912) and Receivables within one year (-€38,213)
- Tangible fixed assets +€30,203
up €30,203 (+569%), from €5,308 to €35,510
of which Furniture and vehicles: +€28,826
- Deferred charges and accrued income -€2,643
down €2,643 (-94.6%), from €2,795 to €151
- Other debts +€32,725
up €32,725 (+1,769%), from €1,850 to €34,575
- Trade debts -€6,043
down €6,043 (-50.9%), from €11,880 to €5,837
- Profit (loss) carried forward +€4,765
up €4,765 (+10.4%), from €46,030 to €50,795
- Tax, wage and social debts +€1,100
up €1,100 (+110%), from €1,000 to €2,100
- Purchases and services -€27,712
down €27,712 (-10.3%), from €268,007 to €240,295
- Turnover -€22,496
down €22,496 (-8.1%), from €276,844 to €254,348
- Gross operating margin +€8,982
up €8,982 (+83.5%), from €10,754 to €19,736
- Depreciation +€6,225
up €6,225 (+251%), from €2,485 to €8,710
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 | €66,960 | €99,507 | +€32,547 | +48.6% |
| Fixed assets | 21/28 | €5,368 | €35,570 | +€30,203 | +563% |
| Tangible fixed assets | 22/27 | €5,308 | €35,510 | +€30,203 | +569% |
| Plant, machinery and equipment | 23 | €1,382 | €2,759 | +€1,377 | +99.6% |
| Furniture and vehicles | 24 | €3,926 | €32,751 | +€28,826 | +734% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €61,593 | €63,937 | +€2,344 | +3.8% |
| Amounts receivable within one year | 40/41 | €20,746 | €58,959 | +€38,213 | +184% |
| Trade receivables | 40 | €17,654 | €55,580 | +€37,926 | +215% |
| Other amounts receivable | 41 | €3,092 | €3,379 | +€287 | +9.3% |
| Cash at bank and in hand | 54/58 | €38,052 | €4,826 | -€33,226 | -87.3% |
| Deferred charges and accrued income | 490/1 | €2,795 | €151 | -€2,643 | -94.6% |
| Total equity and liabilities | 10/49 | €66,960 | €99,507 | +€32,547 | +48.6% |
| Equity | 10/15 | €52,230 | €56,995 | +€4,765 | +9.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,030 | €50,795 | +€4,765 | +10.4% |
| Amounts payable | 17/49 | €14,730 | €42,512 | +€27,782 | +189% |
| Amounts payable within one year | 42/48 | €14,730 | €42,512 | +€27,782 | +189% |
| Trade debts | 44 | €11,880 | €5,837 | -€6,043 | -50.9% |
| Suppliers | 440/4 | €11,880 | €5,837 | -€6,043 | -50.9% |
| Taxes, remuneration and social security | 45 | €1,000 | €2,100 | +€1,100 | +110% |
| Remuneration and social security | 454/9 | €1,000 | €2,100 | +€1,100 | +110% |
| Other amounts payable | 47/48 | €1,850 | €34,575 | +€32,725 | +1,769% |
| Turnover | 70 | €276,844 | €254,348 | -€22,496 | -8.1% |
| Non-recurring operating income | 76A | €1,917 | €5,683 | +€3,766 | +196% |
| Goods, raw materials, services and sundry goods | 60/61 | €268,007 | €240,295 | -€27,712 | -10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,485 | €8,710 | +€6,225 | +251% |
| Other operating charges | 640/8 | €1,193 | €3,316 | +€2,123 | +178% |
| Gross operating margin | 9900 | €10,754 | €19,736 | +€8,982 | +83.5% |
| Operating profit (loss) | 9901 | €7,076 | €7,711 | +€635 | +9.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €279 | €342 | +€63 | +22.6% |
| Recurring financial charges | 65 | €279 | €342 | +€63 | +22.6% |
| Profit (loss) for the period before taxes | 9903 | €6,797 | €7,368 | +€572 | +8.4% |
| Income taxes | 67/77 | €2,578 | €2,603 | +€25 | +1.0% |
| Profit (loss) for the period | 9904 | €4,219 | €4,765 | +€546 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,219 | €4,765 | +€546 | +12.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.