BELOTA: 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.
BELOTA
Largest movements
- Cash +€40,291
up €40,291 (+77.7%), from €51,840 to €92,131
mainly Net result for the year (+€42,475) and Receivables within one year (+€22,896)
- Receivables within one year -€22,896
down €22,896 (-26.4%), from €86,629 to €63,733
- Tangible fixed assets -€6,526
down €6,526 (-71.7%), from €9,106 to €2,580
- Reserves +€11,475
up €11,475 (+6.6%), from €173,163 to €184,638
of which Distributable reserves: +€11,475
- Tax, wage and social debts -€5,715
down €5,715 (-23.8%), from €24,047 to €18,332
of which Taxes: -€4,746
- Trade debts +€4,813
up €4,813 (+40.5%), from €11,898 to €16,712
- Staff costs +€9,992
up €9,992 (+21.1%), from €47,442 to €57,434
- Gross operating margin +€6,140
up €6,140 (+5.1%), from €119,424 to €125,564
- Taxes -€1,395
down €1,395 (-7.0%), from €19,801 to €18,406
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 | €242,719 | €251,740 | +€9,022 | +3.7% |
| Fixed assets | 21/28 | €9,106 | €2,580 | -€6,526 | -71.7% |
| Tangible fixed assets | 22/27 | €9,106 | €2,580 | -€6,526 | -71.7% |
| Furniture and vehicles | 24 | €9,106 | €2,580 | -€6,526 | -71.7% |
| Current assets | 29/58 | €233,612 | €249,160 | +€15,548 | +6.7% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Trade receivables | 290 | €75,000 | - | -€75,000 | |
| Other amounts receivable | 291 | - | €75,000 | +€75,000 | |
| Amounts receivable within one year | 40/41 | €86,629 | €63,733 | -€22,896 | -26.4% |
| Other amounts receivable | 41 | €86,629 | €63,733 | -€22,896 | -26.4% |
| Cash at bank and in hand | 54/58 | €51,840 | €92,131 | +€40,291 | +77.7% |
| Deferred charges and accrued income | 490/1 | €20,144 | €18,296 | -€1,848 | -9.2% |
| Total equity and liabilities | 10/49 | €242,719 | €251,740 | +€9,022 | +3.7% |
| Equity | 10/15 | €187,793 | €199,268 | +€11,475 | +6.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €173,163 | €184,638 | +€11,475 | +6.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €171,303 | €182,778 | +€11,475 | +6.7% |
| Profit (loss) carried forward | 14 | €2,230 | €2,230 | = | 0.0% |
| Amounts payable | 17/49 | €54,925 | €52,472 | -€2,453 | -4.5% |
| Amounts payable after more than one year | 17 | €1,434 | - | -€1,434 | |
| Financial debts | 170/4 | €1,434 | - | -€1,434 | |
| Amounts payable within one year | 42/48 | €53,491 | €51,951 | -€1,540 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €17,547 | €16,907 | -€639 | -3.6% |
| Trade debts | 44 | €11,898 | €16,712 | +€4,813 | +40.5% |
| Suppliers | 440/4 | €11,898 | €16,712 | +€4,813 | +40.5% |
| Taxes, remuneration and social security | 45 | €24,047 | €18,332 | -€5,715 | -23.8% |
| Taxes | 450/3 | €9,101 | €4,355 | -€4,746 | -52.2% |
| Remuneration and social security | 454/9 | €14,945 | €13,977 | -€968 | -6.5% |
| Accrued charges and deferred income | 492/3 | - | €521 | +€521 | |
| Remuneration, social security and pensions | 62 | €47,442 | €57,434 | +€9,992 | +21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,199 | €8,085 | -€114 | -1.4% |
| Other operating charges | 640/8 | €915 | €921 | +€6 | +0.6% |
| Gross operating margin | 9900 | €119,424 | €125,564 | +€6,140 | +5.1% |
| Operating profit (loss) | 9901 | €62,867 | €59,123 | -€3,744 | -6.0% |
| Financial income | 75/76B | €2,514 | €2,291 | -€223 | -8.9% |
| Recurring financial income | 75 | €2,514 | €2,291 | -€223 | -8.9% |
| Financial charges | 65/66B | €1,765 | €533 | -€1,232 | -69.8% |
| Recurring financial charges | 65 | €1,765 | €533 | -€1,232 | -69.8% |
| Profit (loss) for the period before taxes | 9903 | €63,615 | €60,881 | -€2,734 | -4.3% |
| Income taxes | 67/77 | €19,801 | €18,406 | -€1,395 | -7.0% |
| Profit (loss) for the period | 9904 | €43,814 | €42,475 | -€1,339 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,814 | €42,475 | -€1,339 | -3.1% |
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 10 October 2026 via checked.be.