Belmes Group: 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.
Belmes Group
Largest movements
- Receivables within one year -€19,775
down €19,775 (-24.3%), from €81,500 to €61,725
of which Other amounts receivable: -€21,030
- Cash +€18,078
up €18,078 (+1,098%), from €1,646 to €19,724
mainly Receivables within one year (+€19,775) and Net result for the year (+€5,648)
- Financial fixed assets -€7,500
no longer reported in 2025 (was €7,500)
- Tax, wage and social debts -€16,099
down €16,099 (-51.5%), from €31,284 to €15,185
of which Taxes: -€11,599
- Profit (loss) carried forward +€5,648
up €5,648 (+9.8%), from €57,460 to €63,108
- Trade debts +€2,810
up €2,810 (+812%), from €346 to €3,156
- Other debts -€1,037
down €1,037 (-56.5%), from €1,837 to €800
- Gross operating margin -€15,952
down €15,952 (-47.7%), from €33,427 to €17,475
- Taxes -€3,258
down €3,258 (-57.5%), from €5,667 to €2,409
- Depreciation +€1,265
up €1,265 (+91.3%), from €1,386 to €2,651
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 | €92,927 | €84,249 | -€8,678 | -9.3% |
| Fixed assets | 21/28 | €9,781 | €2,800 | -€6,981 | -71.4% |
| Tangible fixed assets | 22/27 | €2,281 | €2,800 | +€519 | +22.8% |
| Furniture and vehicles | 24 | €2,281 | €2,800 | +€519 | +22.8% |
| Financial fixed assets | 28 | €7,500 | - | -€7,500 | |
| Current assets | 29/58 | €83,146 | €81,449 | -€1,697 | -2.0% |
| Amounts receivable within one year | 40/41 | €81,500 | €61,725 | -€19,775 | -24.3% |
| Trade receivables | 40 | - | €1,255 | +€1,255 | |
| Other amounts receivable | 41 | €81,500 | €60,470 | -€21,030 | -25.8% |
| Cash at bank and in hand | 54/58 | €1,646 | €19,724 | +€18,078 | +1,098% |
| Total equity and liabilities | 10/49 | €92,927 | €84,249 | -€8,678 | -9.3% |
| Equity | 10/15 | €59,460 | €65,108 | +€5,648 | +9.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,460 | €63,108 | +€5,648 | +9.8% |
| Amounts payable | 17/49 | €33,467 | €19,141 | -€14,326 | -42.8% |
| Amounts payable within one year | 42/48 | €33,467 | €19,141 | -€14,326 | -42.8% |
| Trade debts | 44 | €346 | €3,156 | +€2,810 | +812% |
| Suppliers | 440/4 | €346 | €3,156 | +€2,810 | +812% |
| Taxes, remuneration and social security | 45 | €31,284 | €15,185 | -€16,099 | -51.5% |
| Taxes | 450/3 | €26,784 | €15,185 | -€11,599 | -43.3% |
| Remuneration and social security | 454/9 | €4,500 | - | -€4,500 | |
| Other amounts payable | 47/48 | €1,837 | €800 | -€1,037 | -56.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,386 | €2,651 | +€1,265 | +91.3% |
| Other operating charges | 640/8 | €2,047 | €2,199 | +€152 | +7.4% |
| Gross operating margin | 9900 | €33,427 | €17,475 | -€15,952 | -47.7% |
| Operating profit (loss) | 9901 | €29,994 | €12,625 | -€17,369 | -57.9% |
| Financial income | 75/76B | - | €33 | +€33 | |
| Recurring financial income | 75 | - | €33 | +€33 | |
| Financial charges | 65/66B | €4,575 | €4,601 | +€26 | +0.6% |
| Recurring financial charges | 65 | €4,575 | €4,601 | +€26 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €25,419 | €8,057 | -€17,362 | -68.3% |
| Income taxes | 67/77 | €5,667 | €2,409 | -€3,258 | -57.5% |
| Profit (loss) for the period | 9904 | €19,752 | €5,648 | -€14,104 | -71.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,752 | €5,648 | -€14,104 | -71.4% |
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 13 October 2026 via checked.be.