BELMAR TRANS: 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.
BELMAR TRANS
Largest movements
- Cash +€20,908
up €20,908 (+150%), from €13,903 to €34,812
mainly Net result for the year (+€40,685) and Debts after one year (+€12,756)
- Receivables within one year +€15,796
up €15,796 (+19.4%), from €81,343 to €97,140
of which Trade receivables: +€14,879
- Profit (loss) carried forward +€40,685
up €40,685 (+107%), from €37,953 to €78,639
- Contributions -€25,000
no longer reported in 2025 (was €25,000)
- Debts after one year +€12,756
new in 2025: €12,756
- Current portion of long-term debt +€11,366
up €11,366 (+111%), from €10,222 to €21,587
- Tax, wage and social debts -€8,749
down €8,749 (-14.4%), from €60,726 to €51,977
of which Taxes: -€7,866
- Gross operating margin +€60,839
up €60,839 (+51.3%), from €118,522 to €179,361
- Staff costs +€25,537
up €25,537 (+36.7%), from €69,527 to €95,064
- Other operating charges +€6,507
up €6,507 (+25.8%), from €25,251 to €31,759
- Taxes -€6,482
down €6,482 (-47.8%), from €13,575 to €7,093
- Financial income -€2,901
down €2,901 (-21.6%), from €13,427 to €10,525
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 | €134,327 | €169,405 | +€35,078 | +26.1% |
| Fixed assets | 21/28 | €39,080 | €37,453 | -€1,627 | -4.2% |
| Tangible fixed assets | 22/27 | €24,675 | €23,048 | -€1,627 | -6.6% |
| Furniture and vehicles | 24 | €24,675 | €23,048 | -€1,627 | -6.6% |
| Financial fixed assets | 28 | €14,405 | €14,405 | = | 0.0% |
| Current assets | 29/58 | €95,247 | €131,951 | +€36,705 | +38.5% |
| Amounts receivable within one year | 40/41 | €81,343 | €97,140 | +€15,796 | +19.4% |
| Trade receivables | 40 | €70,491 | €85,369 | +€14,879 | +21.1% |
| Other amounts receivable | 41 | €10,853 | €11,770 | +€918 | +8.5% |
| Cash at bank and in hand | 54/58 | €13,903 | €34,812 | +€20,908 | +150% |
| Total equity and liabilities | 10/49 | €134,327 | €169,405 | +€35,078 | +26.1% |
| Equity | 10/15 | €62,953 | €78,639 | +€15,685 | +24.9% |
| Contributions | 10/11 | €25,000 | - | -€25,000 | |
| Profit (loss) carried forward | 14 | €37,953 | €78,639 | +€40,685 | +107% |
| Amounts payable | 17/49 | €71,374 | €90,766 | +€19,392 | +27.2% |
| Amounts payable after more than one year | 17 | - | €12,756 | +€12,756 | |
| Financial debts | 170/4 | - | €12,756 | +€12,756 | |
| Amounts payable within one year | 42/48 | €71,374 | €78,010 | +€6,636 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €10,222 | €21,587 | +€11,366 | +111% |
| Trade debts | 44 | €426 | €4,445 | +€4,019 | +944% |
| Suppliers | 440/4 | €426 | €4,445 | +€4,019 | +944% |
| Taxes, remuneration and social security | 45 | €60,726 | €51,977 | -€8,749 | -14.4% |
| Taxes | 450/3 | €44,965 | €37,099 | -€7,866 | -17.5% |
| Remuneration and social security | 454/9 | €15,761 | €14,878 | -€883 | -5.6% |
| Remuneration, social security and pensions | 62 | €69,527 | €95,064 | +€25,537 | +36.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,177 | €11,141 | +€1,964 | +21.4% |
| Other operating charges | 640/8 | €25,251 | €31,759 | +€6,507 | +25.8% |
| Non-recurring operating charges | 66A | €5 | - | -€5 | |
| Gross operating margin | 9900 | €118,522 | €179,361 | +€60,839 | +51.3% |
| Operating profit (loss) | 9901 | €14,561 | €41,398 | +€26,837 | +184% |
| Financial income | 75/76B | €13,427 | €10,525 | -€2,901 | -21.6% |
| Recurring financial income | 75 | €13,427 | €10,525 | -€2,901 | -21.6% |
| Financial charges | 65/66B | €6,598 | €4,145 | -€2,452 | -37.2% |
| Recurring financial charges | 65 | €6,598 | €4,145 | -€2,452 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | €21,390 | €47,778 | +€26,388 | +123% |
| Income taxes | 67/77 | €13,575 | €7,093 | -€6,482 | -47.8% |
| Profit (loss) for the period | 9904 | €7,815 | €40,685 | +€32,870 | +421% |
| Profit (loss) for the period to be appropriated | 9905 | €7,815 | €40,685 | +€32,870 | +421% |
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 22 October 2026 via checked.be.