BELLE OPTIK: 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.
BELLE OPTIK
Largest movements
- Current investments +€341,113
new in 2025: €341,113
- Cash -€259,868
down €259,868 (-44.7%), from €581,521 to €321,652
mainly Current investments (-€341,113) and Investment in fixed assets (net) (-€70,037)
- Tangible fixed assets +€52,966
up €52,966 (+197.4%), from €26,836 to €79,802
of which Leasing and similar rights: +€33,290
- Reserves +€80,446
up €80,446 (+14.1%), from €571,617 to €652,063
of which Distributable reserves: +€80,446
- Trade debts +€29,200
up €29,200 (+200.5%), from €14,564 to €43,764
- Debts after one year +€27,187
new in 2025: €27,187
- Tax, wage and social debts -€12,558
down €12,558 (-24.5%), from €51,227 to €38,669
of which Taxes: -€7,754
- Staff costs -€5,919
down €5,919 (-5.7%), from €103,835 to €97,916
- Gross operating margin +€5,433
up €5,433 (+2.0%), from €267,904 to €273,337
- Depreciation -€5,393
down €5,393 (-24.0%), from €22,464 to €17,071
- Taxes -€4,791
down €4,791 (-11.5%), from €41,775 to €36,984
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 | €781,508 | €912,066 | +€130,558 | +16.7% |
| Fixed assets | 21/28 | €26,836 | €79,802 | +€52,966 | +197.4% |
| Tangible fixed assets | 22/27 | €26,836 | €79,802 | +€52,966 | +197.4% |
| Land and buildings | 22 | €2,233 | €1,498 | -€736 | -32.9% |
| Plant, machinery and equipment | 23 | €18,241 | €37,607 | +€19,366 | +106.2% |
| Furniture and vehicles | 24 | €6,362 | €7,408 | +€1,046 | +16.4% |
| Leasing and similar rights | 25 | - | €33,290 | +€33,290 | |
| Current assets | 29/58 | €754,672 | €832,263 | +€77,592 | +10.3% |
| Stocks and contracts in progress | 3 | €161,502 | €161,824 | +€321 | +0.2% |
| Stocks | 30/36 | €161,502 | €161,824 | +€321 | +0.2% |
| Amounts receivable within one year | 40/41 | €7,720 | €5,935 | -€1,785 | -23.1% |
| Trade receivables | 40 | €5,567 | €3,351 | -€2,216 | -39.8% |
| Other amounts receivable | 41 | €2,153 | €2,584 | +€431 | +20.0% |
| Current investments | 50/53 | - | €341,113 | +€341,113 | |
| Cash at bank and in hand | 54/58 | €581,521 | €321,652 | -€259,868 | -44.7% |
| Deferred charges and accrued income | 490/1 | €3,929 | €1,739 | -€2,189 | -55.7% |
| Total equity and liabilities | 10/49 | €781,508 | €912,066 | +€130,558 | +16.7% |
| Equity | 10/15 | €715,717 | €796,163 | +€80,446 | +11.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €571,617 | €652,063 | +€80,446 | +14.1% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €561,617 | €642,063 | +€80,446 | +14.3% |
| Profit (loss) carried forward | 14 | €44,100 | €44,100 | = | 0.0% |
| Amounts payable | 17/49 | €65,791 | €115,903 | +€50,112 | +76.2% |
| Amounts payable after more than one year | 17 | - | €27,187 | +€27,187 | |
| Financial debts | 170/4 | - | €27,187 | +€27,187 | |
| Amounts payable within one year | 42/48 | €65,791 | €88,716 | +€22,925 | +34.8% |
| Financial debts | 43 | - | €6,283 | +€6,283 | |
| Credit institutions | 430/8 | - | €6,283 | +€6,283 | |
| Trade debts | 44 | €14,564 | €43,764 | +€29,200 | +200.5% |
| Suppliers | 440/4 | €14,564 | €43,764 | +€29,200 | +200.5% |
| Taxes, remuneration and social security | 45 | €51,227 | €38,669 | -€12,558 | -24.5% |
| Taxes | 450/3 | €34,492 | €26,738 | -€7,754 | -22.5% |
| Remuneration and social security | 454/9 | €16,735 | €11,931 | -€4,804 | -28.7% |
| Remuneration, social security and pensions | 62 | €103,835 | €97,916 | -€5,919 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,464 | €17,071 | -€5,393 | -24.0% |
| Other operating charges | 640/8 | €5,418 | €6,464 | +€1,046 | +19.3% |
| Gross operating margin | 9900 | €267,904 | €273,337 | +€5,433 | +2.0% |
| Operating profit (loss) | 9901 | €136,187 | €151,886 | +€15,699 | +11.5% |
| Financial income | 75/76B | €3,337 | €3,328 | -€9 | -0.3% |
| Recurring financial income | 75 | €3,337 | €3,328 | -€9 | -0.3% |
| Financial charges | 65/66B | €2,453 | €4,551 | +€2,098 | +85.5% |
| Recurring financial charges | 65 | €2,453 | €4,551 | +€2,098 | +85.5% |
| Profit (loss) for the period before taxes | 9903 | €137,071 | €150,663 | +€13,592 | +9.9% |
| Income taxes | 67/77 | €41,775 | €36,984 | -€4,791 | -11.5% |
| Profit (loss) for the period | 9904 | €95,296 | €113,679 | +€18,383 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €95,296 | €113,679 | +€18,383 | +19.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.