BELOYS: 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.
BELOYS
Largest movements
- Cash +€96,924
up €96,924 (+44.1%), from €219,873 to €316,797
mainly Trade debts (+€94,454) and Other debts (+€30,898)
- Receivables within one year +€18,236
up €18,236 (+56.5%), from €32,302 to €50,538
of which Trade receivables: +€10,455
- Intangible fixed assets -€4,716
down €4,716 (-20.0%), from €23,556 to €18,840
- Trade debts +€94,454
up €94,454 (+51.6%), from €182,894 to €277,347
- Other debts +€30,898
up €30,898 (+61.8%), from €50,000 to €80,898
- Profit (loss) carried forward -€30,619
no longer reported in 2025 (was €30,619)
- Tax, wage and social debts +€9,283
up €9,283 (+89.5%), from €10,371 to €19,653
of which Remuneration and social security: +€7,564
- Gross operating margin -€42,862
down €42,862 (-25.9%), from €165,394 to €122,532
- Staff costs -€24,547
down €24,547 (-18.0%), from €136,256 to €111,709
- Taxes -€3,652
down €3,652 (-68.0%), from €5,371 to €1,718
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 | €293,948 | €400,341 | +€106,393 | +36.2% |
| Fixed assets | 21/28 | €34,803 | €28,215 | -€6,588 | -18.9% |
| Intangible fixed assets | 21 | €23,556 | €18,840 | -€4,716 | -20.0% |
| Tangible fixed assets | 22/27 | €5,229 | €3,357 | -€1,872 | -35.8% |
| Furniture and vehicles | 24 | €5,229 | €3,357 | -€1,872 | -35.8% |
| Financial fixed assets | 28 | €6,018 | €6,018 | = | 0.0% |
| Current assets | 29/58 | €259,146 | €372,127 | +€112,981 | +43.6% |
| Amounts receivable within one year | 40/41 | €32,302 | €50,538 | +€18,236 | +56.5% |
| Trade receivables | 40 | €17,432 | €27,887 | +€10,455 | +60.0% |
| Other amounts receivable | 41 | €14,870 | €22,651 | +€7,781 | +52.3% |
| Cash at bank and in hand | 54/58 | €219,873 | €316,797 | +€96,924 | +44.1% |
| Deferred charges and accrued income | 490/1 | €6,970 | €4,791 | -€2,179 | -31.3% |
| Total equity and liabilities | 10/49 | €293,948 | €400,341 | +€106,393 | +36.2% |
| Equity | 10/15 | €50,619 | €20,000 | -€30,619 | -60.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,619 | - | -€30,619 | |
| Amounts payable | 17/49 | €243,330 | €380,341 | +€137,012 | +56.3% |
| Amounts payable within one year | 42/48 | €243,264 | €377,898 | +€134,634 | +55.3% |
| Trade debts | 44 | €182,894 | €277,347 | +€94,454 | +51.6% |
| Suppliers | 440/4 | €182,894 | €277,347 | +€94,454 | +51.6% |
| Taxes, remuneration and social security | 45 | €10,371 | €19,653 | +€9,283 | +89.5% |
| Taxes | 450/3 | - | €1,718 | +€1,718 | |
| Remuneration and social security | 454/9 | €10,371 | €17,935 | +€7,564 | +72.9% |
| Other amounts payable | 47/48 | €50,000 | €80,898 | +€30,898 | +61.8% |
| Accrued charges and deferred income | 492/3 | €66 | €2,443 | +€2,378 | +3,628% |
| Remuneration, social security and pensions | 62 | €136,256 | €111,709 | -€24,547 | -18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,036 | €8,057 | +€20 | +0.3% |
| Other operating charges | 640/8 | €526 | €589 | +€63 | +12.0% |
| Gross operating margin | 9900 | €165,394 | €122,532 | -€42,862 | -25.9% |
| Operating profit (loss) | 9901 | €20,576 | €2,178 | -€18,398 | -89.4% |
| Financial charges | 65/66B | €134 | €180 | +€46 | +34.5% |
| Recurring financial charges | 65 | €134 | €180 | +€46 | +34.5% |
| Profit (loss) for the period before taxes | 9903 | €20,442 | €1,997 | -€18,444 | -90.2% |
| Income taxes | 67/77 | €5,371 | €1,718 | -€3,652 | -68.0% |
| Profit (loss) for the period | 9904 | €15,071 | €279 | -€14,792 | -98.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,071 | €279 | -€14,792 | -98.1% |
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 23 October 2026 via checked.be.