BELOUTIL: 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.
BELOUTIL
Largest movements
- Tangible fixed assets -€4,582
down €4,582 (-26.6%), from €17,234 to €12,651
of which Plant, machinery and equipment: -€3,198
- Receivables within one year +€2,117
up €2,117 (+45.4%), from €4,660 to €6,777
of which Trade receivables: +€6,467
- Cash -€2,021
down €2,021 (-42.9%), from €4,708 to €2,687
mainly Other debts (-€7,141) and Trade debts (-€3,213)
- Other debts -€7,141
down €7,141 (-30.7%), from €23,240 to €16,099
- Tax, wage and social debts +€4,526
up €4,526 (+95.1%), from €4,758 to €9,284
- Trade debts -€3,213
down €3,213 (-30.7%), from €10,453 to €7,239
- Reserves +€713
up €713 (+61.5%), from €1,159 to €1,871
- Taxes -€1,597
down €1,597 (-46.4%), from €3,445 to €1,848
- Gross operating margin -€1,359
down €1,359 (-13.6%), from €10,023 to €8,664
- Financial charges +€716
up €716 (+254.0%), from €282 to €998
- Other operating charges -€524
down €524 (-75.1%), from €698 to €174
- Staff costs +€353
new in 2025: €353
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 | €42,610 | €37,494 | -€5,116 | -12.0% |
| Fixed assets | 21/28 | €17,234 | €12,651 | -€4,582 | -26.6% |
| Tangible fixed assets | 22/27 | €17,234 | €12,651 | -€4,582 | -26.6% |
| Plant, machinery and equipment | 23 | €12,167 | €8,968 | -€3,198 | -26.3% |
| Furniture and vehicles | 24 | €5,067 | €3,683 | -€1,384 | -27.3% |
| Current assets | 29/58 | €25,376 | €24,843 | -€533 | -2.1% |
| Stocks and contracts in progress | 3 | €15,357 | €15,077 | -€281 | -1.8% |
| Stocks | 30/36 | €15,357 | €15,077 | -€281 | -1.8% |
| Amounts receivable within one year | 40/41 | €4,660 | €6,777 | +€2,117 | +45.4% |
| Trade receivables | 40 | €310 | €6,777 | +€6,467 | +2088.4% |
| Other amounts receivable | 41 | €4,350 | - | -€4,350 | |
| Cash at bank and in hand | 54/58 | €4,708 | €2,687 | -€2,021 | -42.9% |
| Deferred charges and accrued income | 490/1 | €651 | €302 | -€349 | -53.6% |
| Total equity and liabilities | 10/49 | €42,610 | €37,494 | -€5,116 | -12.0% |
| Equity | 10/15 | €4,159 | €4,871 | +€713 | +17.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €1,159 | €1,871 | +€713 | +61.5% |
| Distributable reserves | 133 | €1,159 | €1,871 | +€713 | +61.5% |
| Amounts payable | 17/49 | €38,451 | €32,622 | -€5,829 | -15.2% |
| Amounts payable within one year | 42/48 | €38,451 | €32,622 | -€5,829 | -15.2% |
| Trade debts | 44 | €10,453 | €7,239 | -€3,213 | -30.7% |
| Suppliers | 440/4 | €10,453 | €7,239 | -€3,213 | -30.7% |
| Taxes, remuneration and social security | 45 | €4,758 | €9,284 | +€4,526 | +95.1% |
| Taxes | 450/3 | €4,758 | €9,284 | +€4,526 | +95.1% |
| Other amounts payable | 47/48 | €23,240 | €16,099 | -€7,141 | -30.7% |
| Remuneration, social security and pensions | 62 | - | €353 | +€353 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,440 | €4,582 | +€142 | +3.2% |
| Other operating charges | 640/8 | €698 | €174 | -€524 | -75.1% |
| Gross operating margin | 9900 | €10,023 | €8,664 | -€1,359 | -13.6% |
| Operating profit (loss) | 9901 | €4,885 | €3,555 | -€1,331 | -27.2% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €282 | €998 | +€716 | +254.0% |
| Recurring financial charges | 65 | €282 | €998 | +€716 | +254.0% |
| Profit (loss) for the period before taxes | 9903 | €4,604 | €2,561 | -€2,043 | -44.4% |
| Income taxes | 67/77 | €3,445 | €1,848 | -€1,597 | -46.4% |
| Profit (loss) for the period | 9904 | €1,159 | €713 | -€446 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,159 | €713 | -€446 | -38.5% |
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.