BELSINTEC: 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.
BELSINTEC
Largest movements
- Receivables within one year +€40,042
up €40,042 (+148%), from €27,089 to €67,131
of which Trade receivables: +€23,598
- Cash -€23,963
down €23,963 (-99.7%), from €24,025 to €63
mainly Receivables within one year (-€40,042) and Other debts (-€8,368)
- Tangible fixed assets -€8,114
down €8,114 (-12.8%), from €63,631 to €55,517
of which Furniture and vehicles: -€5,690
- Trade debts +€15,506
up €15,506 (+90.2%), from €17,186 to €32,691
- Other debts -€8,368
no longer reported in 2025 (was €8,368)
- Reserves +€4,180
up €4,180 (+6.7%), from €62,847 to €67,027
of which Distributable reserves: +€4,180
- Tax, wage and social debts -€3,353
down €3,353 (-70.6%), from €4,751 to €1,398
- Gross operating margin +€4,547
up €4,547 (+37.5%), from €12,141 to €16,688
- Taxes +€1,385
up €1,385 (+556%), from €249 to €1,634
- Depreciation -€444
down €444 (-5.2%), from €8,558 to €8,114
- Financial charges +€261
up €261 (+117%), from €222 to €484
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 | €114,745 | €122,710 | +€7,965 | +6.9% |
| Fixed assets | 21/28 | €63,631 | €55,517 | -€8,114 | -12.8% |
| Tangible fixed assets | 22/27 | €63,631 | €55,517 | -€8,114 | -12.8% |
| Land and buildings | 22 | €48,119 | €45,695 | -€2,424 | -5.0% |
| Furniture and vehicles | 24 | €15,512 | €9,822 | -€5,690 | -36.7% |
| Current assets | 29/58 | €51,114 | €67,193 | +€16,079 | +31.5% |
| Amounts receivable within one year | 40/41 | €27,089 | €67,131 | +€40,042 | +148% |
| Trade receivables | 40 | €27,089 | €50,687 | +€23,598 | +87.1% |
| Other amounts receivable | 41 | - | €16,444 | +€16,444 | |
| Cash at bank and in hand | 54/58 | €24,025 | €63 | -€23,963 | -99.7% |
| Total equity and liabilities | 10/49 | €114,745 | €122,710 | +€7,965 | +6.9% |
| Equity | 10/15 | €84,441 | €88,621 | +€4,180 | +5.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €62,847 | €67,027 | +€4,180 | +6.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €60,988 | €65,168 | +€4,180 | +6.9% |
| Profit (loss) carried forward | 14 | €15,397 | €15,397 | = | 0.0% |
| Amounts payable | 17/49 | €30,304 | €34,089 | +€3,785 | +12.5% |
| Amounts payable within one year | 42/48 | €30,304 | €34,089 | +€3,785 | +12.5% |
| Trade debts | 44 | €17,186 | €32,691 | +€15,506 | +90.2% |
| Suppliers | 440/4 | €17,186 | €32,691 | +€15,506 | +90.2% |
| Taxes, remuneration and social security | 45 | €4,751 | €1,398 | -€3,353 | -70.6% |
| Taxes | 450/3 | €4,751 | €1,398 | -€3,353 | -70.6% |
| Other amounts payable | 47/48 | €8,368 | - | -€8,368 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,558 | €8,114 | -€444 | -5.2% |
| Other operating charges | 640/8 | €2,287 | €2,277 | -€10 | -0.4% |
| Gross operating margin | 9900 | €12,141 | €16,688 | +€4,547 | +37.5% |
| Operating profit (loss) | 9901 | €1,296 | €6,297 | +€5,001 | +386% |
| Financial charges | 65/66B | €222 | €484 | +€261 | +117% |
| Recurring financial charges | 65 | €222 | €484 | +€261 | +117% |
| Profit (loss) for the period before taxes | 9903 | €1,073 | €5,814 | +€4,740 | +442% |
| Income taxes | 67/77 | €249 | €1,634 | +€1,385 | +556% |
| Profit (loss) for the period | 9904 | €824 | €4,180 | +€3,356 | +407% |
| Profit (loss) for the period to be appropriated | 9905 | €824 | €4,180 | +€3,356 | +407% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.