BELKYTRADE: 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.
BELKYTRADE
Largest movements
- Stocks and contracts -€146,807
down €146,807 (-51.1%), from €287,018 to €140,210
- Cash -€85,879
down €85,879 (-32.3%), from €265,519 to €179,639
mainly Debts after one year (-€108,850) and Receivables within one year (-€84,129)
- Receivables within one year +€84,129
up €84,129 (+202%), from €41,647 to €125,776
of which Trade receivables: +€71,847
- Tangible fixed assets +€14,438
up €14,438 (+52.1%), from €27,701 to €42,139
of which Furniture and vehicles: +€15,955
- Debts after one year -€108,850
down €108,850 (-100%), from €108,850 to €0
- Tax, wage and social debts +€24,626
up €24,626 (+391%), from €6,299 to €30,925
- Profit (loss) carried forward -€19,655
new in 2025: -€19,655
- Other debts -€17,649
down €17,649 (-5.0%), from €355,378 to €337,729
- Trade debts -€10,591
down €10,591 (-61.4%), from €17,241 to €6,650
- Gross operating margin -€51,132
down €51,132, from €36,941 to -€14,191
- Financial charges -€8,379
down €8,379 (-95.3%), from €8,794 to €415
- Taxes -€5,465
down €5,465 (-100%), from €5,465 to €0
- Write-downs -€5,000
down €5,000, from €2,500 to -€2,500
- Depreciation -€1,699
down €1,699 (-26.8%), from €6,335 to €4,636
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 | €624,399 | €491,475 | -€132,924 | -21.3% |
| Fixed assets | 21/28 | €27,701 | €42,139 | +€14,438 | +52.1% |
| Tangible fixed assets | 22/27 | €27,701 | €42,139 | +€14,438 | +52.1% |
| Plant, machinery and equipment | 23 | €578 | €119 | -€459 | -79.4% |
| Furniture and vehicles | 24 | €23,831 | €39,785 | +€15,955 | +67.0% |
| Other tangible fixed assets | 26 | €3,292 | €2,234 | -€1,057 | -32.1% |
| Current assets | 29/58 | €596,698 | €449,336 | -€147,362 | -24.7% |
| Stocks and contracts in progress | 3 | €287,018 | €140,210 | -€146,807 | -51.1% |
| Stocks | 30/36 | €287,018 | €140,210 | -€146,807 | -51.1% |
| Amounts receivable within one year | 40/41 | €41,647 | €125,776 | +€84,129 | +202% |
| Trade receivables | 40 | - | €71,847 | +€71,847 | |
| Other amounts receivable | 41 | €41,647 | €53,929 | +€12,282 | +29.5% |
| Cash at bank and in hand | 54/58 | €265,519 | €179,639 | -€85,879 | -32.3% |
| Deferred charges and accrued income | 490/1 | €2,515 | €3,711 | +€1,196 | +47.5% |
| Total equity and liabilities | 10/49 | €624,399 | €491,475 | -€132,924 | -21.3% |
| Equity | 10/15 | €121,735 | €102,080 | -€19,655 | -16.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €115,535 | €115,535 | = | 0.0% |
| Distributable reserves | 133 | €115,535 | €115,535 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€19,655 | -€19,655 | |
| Amounts payable | 17/49 | €502,664 | €389,395 | -€113,269 | -22.5% |
| Amounts payable after more than one year | 17 | €108,850 | €0 | -€108,850 | -100% |
| Financial debts | 170/4 | €108,850 | €0 | -€108,850 | -100% |
| Amounts payable within one year | 42/48 | €380,418 | €375,304 | -€5,114 | -1.3% |
| Trade debts | 44 | €17,241 | €6,650 | -€10,591 | -61.4% |
| Suppliers | 440/4 | €17,241 | €6,650 | -€10,591 | -61.4% |
| Advances received on contracts in progress | 46 | €1,500 | €0 | -€1,500 | -100% |
| Taxes, remuneration and social security | 45 | €6,299 | €30,925 | +€24,626 | +391% |
| Taxes | 450/3 | €6,299 | €30,925 | +€24,626 | +391% |
| Other amounts payable | 47/48 | €355,378 | €337,729 | -€17,649 | -5.0% |
| Accrued charges and deferred income | 492/3 | €13,396 | €14,091 | +€695 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,335 | €4,636 | -€1,699 | -26.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,500 | -€2,500 | -€5,000 | |
| Other operating charges | 640/8 | €3,015 | €2,962 | -€53 | -1.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €36,941 | -€14,191 | -€51,132 | |
| Operating profit (loss) | 9901 | €25,091 | -€19,289 | -€44,380 | |
| Financial income | 75/76B | €0 | €49 | +€49 | +35,071% |
| Recurring financial income | 75 | €0 | €49 | +€49 | +35,071% |
| Financial charges | 65/66B | €8,794 | €415 | -€8,379 | -95.3% |
| Recurring financial charges | 65 | €8,794 | €415 | -€8,379 | -95.3% |
| Profit (loss) for the period before taxes | 9903 | €16,297 | -€19,655 | -€35,952 | |
| Income taxes | 67/77 | €5,465 | €0 | -€5,465 | -100% |
| Profit (loss) for the period | 9904 | €10,832 | -€19,655 | -€30,487 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,832 | -€19,655 | -€30,487 |
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 30 October 2026 via checked.be.