BELSACK KRIS: 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.
BELSACK KRIS
Largest movements
- Tangible fixed assets +€70,430
up €70,430 (+78.6%), from €89,583 to €160,012
of which Plant, machinery and equipment: +€73,225
- Receivables within one year +€6,682
up €6,682 (+28.5%), from €23,422 to €30,104
of which Other amounts receivable: +€3,542
- Deferred charges and accrued income +€2,598
up €2,598 (+39.1%), from €6,651 to €9,249
- Cash -€2,552
down €2,552 (-37.3%), from €6,844 to €4,292
mainly Investment in fixed assets (net) (-€101,516) and Current portion of long-term debt (-€8,415)
- Trade debts +€43,146
up €43,146 (+4,900%), from €881 to €44,026
- Debts after one year +€36,180
up €36,180 (+123%), from €29,449 to €65,629
- Profit (loss) carried forward +€10,956
up €10,956 (+39.9%), from €27,482 to €38,437
- Current portion of long-term debt -€8,415
down €8,415 (-38.1%), from €22,059 to €13,644
- Other debts -€2,609
down €2,609 (-18.2%), from €14,370 to €11,761
- Depreciation -€8,118
down €8,118 (-20.7%), from €39,204 to €31,086
- Gross operating margin -€4,563
down €4,563 (-9.2%), from €49,481 to €44,918
- Financial charges +€1,285
up €1,285 (+97.0%), from €1,324 to €2,610
- Taxes -€1,224
down €1,224 (-89.7%), from €1,365 to €141
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 | €126,499 | €203,657 | +€77,158 | +61.0% |
| Fixed assets | 21/28 | €89,583 | €160,012 | +€70,430 | +78.6% |
| Tangible fixed assets | 22/27 | €89,583 | €160,012 | +€70,430 | +78.6% |
| Land and buildings | 22 | €24,375 | €36,387 | +€12,013 | +49.3% |
| Plant, machinery and equipment | 23 | €49,368 | €122,593 | +€73,225 | +148% |
| Furniture and vehicles | 24 | €15,840 | €1,032 | -€14,807 | -93.5% |
| Current assets | 29/58 | €36,916 | €43,644 | +€6,728 | +18.2% |
| Amounts receivable within one year | 40/41 | €23,422 | €30,104 | +€6,682 | +28.5% |
| Trade receivables | 40 | €23,422 | €26,562 | +€3,140 | +13.4% |
| Other amounts receivable | 41 | - | €3,542 | +€3,542 | |
| Cash at bank and in hand | 54/58 | €6,844 | €4,292 | -€2,552 | -37.3% |
| Deferred charges and accrued income | 490/1 | €6,651 | €9,249 | +€2,598 | +39.1% |
| Total equity and liabilities | 10/49 | €126,499 | €203,657 | +€77,158 | +61.0% |
| Equity | 10/15 | €56,446 | €67,402 | +€10,956 | +19.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €16,565 | €16,565 | = | 0.0% |
| Distributable reserves | 133 | €16,565 | €16,565 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,482 | €38,437 | +€10,956 | +39.9% |
| Amounts payable | 17/49 | €70,053 | €136,255 | +€66,202 | +94.5% |
| Amounts payable after more than one year | 17 | €29,449 | €65,629 | +€36,180 | +123% |
| Financial debts | 170/4 | €29,449 | €65,629 | +€36,180 | +123% |
| Amounts payable within one year | 42/48 | €40,271 | €70,286 | +€30,015 | +74.5% |
| Current portion of amounts payable after more than one year | 42 | €22,059 | €13,644 | -€8,415 | -38.1% |
| Trade debts | 44 | €881 | €44,026 | +€43,146 | +4,900% |
| Suppliers | 440/4 | €881 | €44,026 | +€43,146 | +4,900% |
| Taxes, remuneration and social security | 45 | €2,961 | €854 | -€2,107 | -71.2% |
| Taxes | 450/3 | €2,961 | €854 | -€2,107 | -71.2% |
| Other amounts payable | 47/48 | €14,370 | €11,761 | -€2,609 | -18.2% |
| Accrued charges and deferred income | 492/3 | €333 | €340 | +€7 | +2.0% |
| Non-recurring operating income | 76A | - | €8,392 | +€8,392 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,204 | €31,086 | -€8,118 | -20.7% |
| Other operating charges | 640/8 | €277 | €126 | -€151 | -54.6% |
| Gross operating margin | 9900 | €49,481 | €44,918 | -€4,563 | -9.2% |
| Operating profit (loss) | 9901 | €10,000 | €13,706 | +€3,706 | +37.1% |
| Financial charges | 65/66B | €1,324 | €2,610 | +€1,285 | +97.0% |
| Recurring financial charges | 65 | €1,324 | €2,610 | +€1,285 | +97.0% |
| Profit (loss) for the period before taxes | 9903 | €8,676 | €11,097 | +€2,421 | +27.9% |
| Income taxes | 67/77 | €1,365 | €141 | -€1,224 | -89.7% |
| Profit (loss) for the period | 9904 | €7,311 | €10,956 | +€3,645 | +49.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,311 | €10,956 | +€3,645 | +49.8% |
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 17 October 2026 via checked.be.