BELMECA: 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.
What changed
BELMECA
NACE 25.530, Machining of metals
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€157,042
2024 · -€44,835+€201,877
Equity
€223,883
2024 · €66,841+€157,042
Cash
-
2024 · €22,599-€22,599
Balance sheet total
€3.4m
2024 · €3.0m+€372,297
Largest movements
Assets
- Receivables within one year +€271,175
up €271,175 (+106.4%), from €254,826 to €526,001
of which Trade receivables: +€272,975
- Deferred charges and accrued income +€110,363
up €110,363 (+11860.3%), from €931 to €111,293
Equity and liabilities
- Debts after one year +€450,372
up €450,372 (+24.8%), from €1.8m to €2.3m
- Other debts -€325,891
down €325,891 (-96.0%), from €339,475 to €13,584
- Tax, wage and social debts +€182,861
up €182,861 (+145.3%), from €125,823 to €308,685
of which Taxes: +€168,910
- Profit (loss) carried forward +€157,042
up €157,042, from -€1,329 to €155,713
- Trade debts -€156,392
down €156,392 (-28.9%), from €541,728 to €385,336
Income statement
- Gross operating margin +€375,489
up €375,489 (+30.8%), from €1.2m to €1.6m
- Depreciation +€119,827
up €119,827 (+129.0%), from €92,893 to €212,719
- Financial charges +€57,767
up €57,767 (+71.6%), from €80,731 to €138,498
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.
Result 2024
-€44,835
Gross operating margin
+€375,489
Staff costs
+€4,019
Depreciation
-€119,827
Other operating charges
+€121
Financial income
-€4
Financial charges
-€57,767
Taxes
-€154
Result 2025
€157,042
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.
From operations
-€318,315
Investment
-€218,962
Financing
+€514,677
Cash 2024
€22,599
From operations (derived)
-€318,315
Net result for the year
+€157,042
Depreciation
+€212,719
Stocks and contracts
-€7,117
Receivables within one year
-€271,175
Deferred charges and accrued income
-€110,363
Trade debts
-€156,392
Tax, wage and social debts
+€182,861
Other debts
-€325,891
Investment (derived)
-€218,962
Investment in fixed assets (net)
-€218,962
Financing
+€514,677
Debts after one year
+€450,372
Current portion of long-term debt
+€40,102
Short-term financial debts
+€24,203
Cash 2025
€0
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,042,771 | €3,415,068 | +€372,297 | +12.2% |
| Fixed assets | 21/28 | €1,528,836 | €1,535,078 | +€6,242 | +0.4% |
| Intangible fixed assets | 21 | €11,037 | €8,581 | -€2,456 | -22.2% |
| Tangible fixed assets | 22/27 | €1,515,544 | €1,524,242 | +€8,698 | +0.6% |
| Land and buildings | 22 | €948,826 | €966,736 | +€17,910 | +1.9% |
| Plant, machinery and equipment | 23 | €155,157 | €141,615 | -€13,542 | -8.7% |
| Furniture and vehicles | 24 | €29,751 | €77,979 | +€48,228 | +162.1% |
| Leasing and similar rights | 25 | €328,133 | €293,111 | -€35,022 | -10.7% |
| Other tangible fixed assets | 26 | €53,677 | €44,800 | -€8,877 | -16.5% |
| Financial fixed assets | 28 | €2,255 | €2,255 | = | 0.0% |
| Current assets | 29/58 | €1,513,935 | €1,879,990 | +€366,055 | +24.2% |
| Stocks and contracts in progress | 3 | €1,235,579 | €1,242,696 | +€7,117 | +0.6% |
| Stocks | 30/36 | €330,158 | €285,896 | -€44,262 | -13.4% |
| Contracts in progress | 37 | €905,421 | €956,800 | +€51,379 | +5.7% |
| Amounts receivable within one year | 40/41 | €254,826 | €526,001 | +€271,175 | +106.4% |
| Trade receivables | 40 | €248,063 | €521,038 | +€272,975 | +110.0% |
| Other amounts receivable | 41 | €6,763 | €4,963 | -€1,800 | -26.6% |
| Cash at bank and in hand | 54/58 | €22,599 | - | -€22,599 | |
| Deferred charges and accrued income | 490/1 | €931 | €111,293 | +€110,363 | +11860.3% |
| Total equity and liabilities | 10/49 | €3,042,771 | €3,415,068 | +€372,297 | +12.2% |
| Equity | 10/15 | €66,841 | €223,883 | +€157,042 | +234.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,329 | €155,713 | +€157,042 | |
| Amounts payable | 17/49 | €2,975,930 | €3,191,185 | +€215,255 | +7.2% |
| Amounts payable after more than one year | 17 | €1,817,136 | €2,267,508 | +€450,372 | +24.8% |
| Financial debts | 170/4 | €1,817,136 | €2,267,508 | +€450,372 | +24.8% |
| Amounts payable within one year | 42/48 | €1,158,794 | €923,677 | -€235,116 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €122,506 | €162,607 | +€40,102 | +32.7% |
| Financial debts | 43 | €29,262 | €53,466 | +€24,203 | +82.7% |
| Credit institutions | 430/8 | €29,262 | €53,466 | +€24,203 | +82.7% |
| Trade debts | 44 | €541,728 | €385,336 | -€156,392 | -28.9% |
| Suppliers | 440/4 | €541,728 | €385,336 | -€156,392 | -28.9% |
| Taxes, remuneration and social security | 45 | €125,823 | €308,685 | +€182,861 | +145.3% |
| Taxes | 450/3 | €43,584 | €212,494 | +€168,910 | +387.5% |
| Remuneration and social security | 454/9 | €82,239 | €96,190 | +€13,951 | +17.0% |
| Other amounts payable | 47/48 | €339,475 | €13,584 | -€325,891 | -96.0% |
| Remuneration, social security and pensions | 62 | €1,066,706 | €1,062,686 | -€4,019 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,893 | €212,719 | +€119,827 | +129.0% |
| Other operating charges | 640/8 | €22,312 | €22,192 | -€121 | -0.5% |
| Gross operating margin | 9900 | €1,217,924 | €1,593,413 | +€375,489 | +30.8% |
| Operating profit (loss) | 9901 | €36,013 | €295,815 | +€259,803 | +721.4% |
| Financial income | 75/76B | €23 | €19 | -€4 | -15.8% |
| Recurring financial income | 75 | €23 | €19 | -€4 | -15.8% |
| Financial charges | 65/66B | €80,731 | €138,498 | +€57,767 | +71.6% |
| Recurring financial charges | 65 | €80,731 | €138,498 | +€57,767 | +71.6% |
| Profit (loss) for the period before taxes | 9903 | -€44,695 | €157,336 | +€202,031 | |
| Income taxes | 67/77 | €140 | €294 | +€154 | +110.7% |
| Profit (loss) for the period | 9904 | -€44,835 | €157,042 | +€201,877 | |
| Profit (loss) for the period to be appropriated | 9905 | -€44,835 | €157,042 | +€201,877 |
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 1 October 2026 via checked.be.