BELMA TECHNOLOGIES: 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.
BELMA TECHNOLOGIES
Largest movements
- Cash +€38,775
up €38,775 (+28.3%), from €136,850 to €175,625
mainly Depreciation (+€39,095) and Net result for the year (+€4,918)
- Intangible fixed assets -€38,312
down €38,312 (-57.0%), from €67,233 to €28,921
- Stocks and contracts +€3,955
up €3,955 (+8.7%), from €45,557 to €49,512
- Receivables within one year -€3,002
down €3,002 (-15.4%), from €19,497 to €16,494
of which Other amounts receivable: -€1,908
- Profit (loss) carried forward +€4,672
up €4,672 (+12.3%), from €38,028 to €42,700
- Debts after one year -€3,224
no longer reported in 2025 (was €3,224)
- Current portion of long-term debt -€3,103
down €3,103 (-49.0%), from €6,327 to €3,224
- Gross operating margin -€6,274
down €6,274 (-12.8%), from €49,021 to €42,747
- Depreciation -€6,224
down €6,224 (-13.7%), from €45,319 to €39,095
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 | €281,398 | €281,040 | -€359 | -0.1% |
| Fixed assets | 21/28 | €70,496 | €31,402 | -€39,095 | -55.5% |
| Intangible fixed assets | 21 | €67,233 | €28,921 | -€38,312 | -57.0% |
| Tangible fixed assets | 22/27 | €3,089 | €2,306 | -€783 | -25.3% |
| Furniture and vehicles | 24 | €3,089 | €2,306 | -€783 | -25.3% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €210,902 | €249,638 | +€38,736 | +18.4% |
| Stocks and contracts in progress | 3 | €45,557 | €49,512 | +€3,955 | +8.7% |
| Stocks | 30/36 | €45,557 | €49,512 | +€3,955 | +8.7% |
| Amounts receivable within one year | 40/41 | €19,497 | €16,494 | -€3,002 | -15.4% |
| Trade receivables | 40 | €16,850 | €15,756 | -€1,094 | -6.5% |
| Other amounts receivable | 41 | €2,647 | €738 | -€1,908 | -72.1% |
| Cash at bank and in hand | 54/58 | €136,850 | €175,625 | +€38,775 | +28.3% |
| Deferred charges and accrued income | 490/1 | €8,998 | €8,007 | -€992 | -11.0% |
| Total equity and liabilities | 10/49 | €281,398 | €281,040 | -€359 | -0.1% |
| Equity | 10/15 | €270,604 | €275,522 | +€4,918 | +1.8% |
| Contributions | 10/11 | €230,575 | €230,575 | = | 0.0% |
| Capital | 10 | €230,575 | €230,575 | = | 0.0% |
| Issued capital | 100 | €230,575 | €230,575 | = | 0.0% |
| Reserves | 13 | €2,001 | €2,247 | +€246 | +12.3% |
| Non-distributable reserves | 130/1 | €2,001 | €2,247 | +€246 | +12.3% |
| Legal reserve | 130 | €2,001 | €2,247 | +€246 | +12.3% |
| Profit (loss) carried forward | 14 | €38,028 | €42,700 | +€4,672 | +12.3% |
| Amounts payable | 17/49 | €10,794 | €5,517 | -€5,277 | -48.9% |
| Amounts payable after more than one year | 17 | €3,224 | - | -€3,224 | |
| Financial debts | 170/4 | €3,224 | - | -€3,224 | |
| Amounts payable within one year | 42/48 | €7,350 | €5,080 | -€2,270 | -30.9% |
| Current portion of amounts payable after more than one year | 42 | €6,327 | €3,224 | -€3,103 | -49.0% |
| Trade debts | 44 | €1,023 | €994 | -€29 | -2.8% |
| Suppliers | 440/4 | €1,023 | €994 | -€29 | -2.8% |
| Taxes, remuneration and social security | 45 | - | €861 | +€861 | |
| Taxes | 450/3 | - | €861 | +€861 | |
| Accrued charges and deferred income | 492/3 | €220 | €438 | +€218 | +98.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,319 | €39,095 | -€6,224 | -13.7% |
| Other operating charges | 640/8 | €607 | €620 | +€12 | +2.0% |
| Gross operating margin | 9900 | €49,021 | €42,747 | -€6,274 | -12.8% |
| Operating profit (loss) | 9901 | €3,095 | €3,033 | -€62 | -2.0% |
| Financial income | 75/76B | €398 | €809 | +€411 | +103.1% |
| Recurring financial income | 75 | €398 | €809 | +€411 | +103.1% |
| Financial charges | 65/66B | €1,006 | €736 | -€270 | -26.9% |
| Recurring financial charges | 65 | €1,006 | €736 | -€270 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €2,487 | €3,105 | +€618 | +24.9% |
| Income taxes | 67/77 | -€2,063 | -€1,813 | +€250 | +12.1% |
| Profit (loss) for the period | 9904 | €4,550 | €4,918 | +€368 | +8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,550 | €4,918 | +€368 | +8.1% |
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 4 October 2026 via checked.be.