BELPORT: 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.
BELPORT
Largest movements
- Receivables within one year +€22,367
up €22,367 (+61.9%), from €36,154 to €58,521
of which Trade receivables: +€22,179
- Tangible fixed assets +€11,054
up €11,054 (+38.3%), from €28,849 to €39,903
of which Furniture and vehicles: +€11,076
- Cash -€7,080
down €7,080 (-13.3%), from €53,277 to €46,196
mainly Receivables within one year (-€22,367) and Contributions, distributions and other (-€20,000)
- Deferred charges and accrued income -€3,726
down €3,726 (-62.5%), from €5,962 to €2,236
- Trade debts +€19,340
up €19,340 (+257%), from €7,524 to €26,865
- Other debts +€9,870
up €9,870 (+97.4%), from €10,130 to €20,000
- Current portion of long-term debt -€7,066
down €7,066 (-77.9%), from €9,066 to €2,000
- Reserves +€7,003
up €7,003 (+46.9%), from €14,938 to €21,940
- Accrued charges and deferred income -€5,116
down €5,116 (-96.8%), from €5,284 to €168
- Gross operating margin +€33,675
up €33,675 (+36.4%), from €92,437 to €126,113
- Staff costs +€16,893
up €16,893 (+26.7%), from €63,218 to €80,111
- Taxes +€5,738
up €5,738 (+119%), from €4,841 to €10,579
- Depreciation -€3,808
down €3,808 (-41.7%), from €9,128 to €5,320
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 | €124,241 | €146,856 | +€22,615 | +18.2% |
| Fixed assets | 21/28 | €28,849 | €39,903 | +€11,054 | +38.3% |
| Tangible fixed assets | 22/27 | €28,849 | €39,903 | +€11,054 | +38.3% |
| Plant, machinery and equipment | 23 | €44 | €22 | -€22 | -50.0% |
| Furniture and vehicles | 24 | €28,804 | €39,881 | +€11,076 | +38.5% |
| Current assets | 29/58 | €95,393 | €106,953 | +€11,560 | +12.1% |
| Amounts receivable within one year | 40/41 | €36,154 | €58,521 | +€22,367 | +61.9% |
| Trade receivables | 40 | €20,276 | €42,454 | +€22,179 | +109% |
| Other amounts receivable | 41 | €15,878 | €16,066 | +€188 | +1.2% |
| Cash at bank and in hand | 54/58 | €53,277 | €46,196 | -€7,080 | -13.3% |
| Deferred charges and accrued income | 490/1 | €5,962 | €2,236 | -€3,726 | -62.5% |
| Total equity and liabilities | 10/49 | €124,241 | €146,856 | +€22,615 | +18.2% |
| Equity | 10/15 | €85,035 | €92,038 | +€7,003 | +8.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €14,938 | €21,940 | +€7,003 | +46.9% |
| Distributable reserves | 133 | €14,938 | €21,940 | +€7,003 | +46.9% |
| Profit (loss) carried forward | 14 | €63,897 | €63,897 | = | 0.0% |
| Amounts payable | 17/49 | €39,206 | €54,818 | +€15,612 | +39.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €33,923 | €54,650 | +€20,727 | +61.1% |
| Current portion of amounts payable after more than one year | 42 | €9,066 | €2,000 | -€7,066 | -77.9% |
| Trade debts | 44 | €7,524 | €26,865 | +€19,340 | +257% |
| Suppliers | 440/4 | €7,524 | €26,865 | +€19,340 | +257% |
| Taxes, remuneration and social security | 45 | €7,202 | €5,785 | -€1,416 | -19.7% |
| Taxes | 450/3 | - | €1,079 | +€1,079 | |
| Remuneration and social security | 454/9 | €7,202 | €4,706 | -€2,496 | -34.7% |
| Other amounts payable | 47/48 | €10,130 | €20,000 | +€9,870 | +97.4% |
| Accrued charges and deferred income | 492/3 | €5,284 | €168 | -€5,116 | -96.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €63,218 | €80,111 | +€16,893 | +26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,128 | €5,320 | -€3,808 | -41.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €788 | +€788 | |
| Other operating charges | 640/8 | €971 | €1,749 | +€779 | +80.2% |
| Non-recurring operating charges | 66A | - | €47 | +€47 | |
| Gross operating margin | 9900 | €92,437 | €126,113 | +€33,675 | +36.4% |
| Operating profit (loss) | 9901 | €19,120 | €38,097 | +€18,977 | +99.3% |
| Financial income | 75/76B | €9 | €11 | +€1 | +15.0% |
| Recurring financial income | 75 | €9 | €11 | +€1 | +15.0% |
| Financial charges | 65/66B | €1,419 | €526 | -€893 | -62.9% |
| Recurring financial charges | 65 | €1,419 | €526 | -€893 | -62.9% |
| Profit (loss) for the period before taxes | 9903 | €17,711 | €37,582 | +€19,871 | +112% |
| Income taxes | 67/77 | €4,841 | €10,579 | +€5,738 | +119% |
| Profit (loss) for the period | 9904 | €12,869 | €27,003 | +€14,133 | +110% |
| Profit (loss) for the period to be appropriated | 9905 | €12,869 | €27,003 | +€14,133 | +110% |
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 20 October 2026 via checked.be.