BELSI: 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.
BELSI
Largest movements
- Receivables within one year +€3,855
up €3,855 (+19.8%), from €19,519 to €23,374
- Cash +€681
up €681 (+12.6%), from €5,424 to €6,105
mainly Net result for the year (+€8,679) and Trade debts (+€337)
- Profit (loss) carried forward +€8,679
up €8,679, from -€2,632 to €6,046
- Tax, wage and social debts -€4,706
down €4,706 (-99.3%), from €4,738 to €32
of which Taxes: -€4,319
- Trade debts +€337
up €337 (+74.6%), from €452 to €790
- Staff costs -€9,463
no longer reported in 2025 (was €9,463)
- Gross operating margin -€634
down €634 (-5.9%), from €10,726 to €10,092
- Other operating charges +€362
up €362 (+44.3%), from €816 to €1,178
- Financial charges +€183
up €183 (+348.4%), from €52 to €235
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 | €24,943 | €29,479 | +€4,536 | +18.2% |
| Current assets | 29/58 | €24,943 | €29,479 | +€4,536 | +18.2% |
| Amounts receivable within one year | 40/41 | €19,519 | €23,374 | +€3,855 | +19.8% |
| Trade receivables | 40 | €19,519 | €23,374 | +€3,855 | +19.8% |
| Cash at bank and in hand | 54/58 | €5,424 | €6,105 | +€681 | +12.6% |
| Total equity and liabilities | 10/49 | €24,943 | €29,479 | +€4,536 | +18.2% |
| Equity | 10/15 | €16,660 | €25,339 | +€8,679 | +52.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €693 | €693 | = | 0.0% |
| Distributable reserves | 133 | €693 | €693 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,632 | €6,046 | +€8,679 | |
| Amounts payable | 17/49 | €8,282 | €4,140 | -€4,142 | -50.0% |
| Amounts payable within one year | 42/48 | €8,282 | €4,140 | -€4,142 | -50.0% |
| Trade debts | 44 | €452 | €790 | +€337 | +74.6% |
| Suppliers | 440/4 | €452 | €790 | +€337 | +74.6% |
| Taxes, remuneration and social security | 45 | €4,738 | €32 | -€4,706 | -99.3% |
| Taxes | 450/3 | €4,351 | €32 | -€4,319 | -99.3% |
| Remuneration and social security | 454/9 | €387 | - | -€387 | |
| Other amounts payable | 47/48 | €3,092 | €3,318 | +€227 | +7.3% |
| Remuneration, social security and pensions | 62 | €9,463 | - | -€9,463 | |
| Other operating charges | 640/8 | €816 | €1,178 | +€362 | +44.3% |
| Gross operating margin | 9900 | €10,726 | €10,092 | -€634 | -5.9% |
| Operating profit (loss) | 9901 | €447 | €8,914 | +€8,467 | +1895.6% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €52 | €235 | +€183 | +348.4% |
| Recurring financial charges | 65 | €52 | €235 | +€183 | +348.4% |
| Profit (loss) for the period before taxes | 9903 | €394 | €8,679 | +€8,284 | +2101.2% |
| Profit (loss) for the period | 9904 | €394 | €8,679 | +€8,284 | +2101.2% |
| Profit (loss) for the period to be appropriated | 9905 | €394 | €8,679 | +€8,284 | +2101.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.