BELSITIS: 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.
BELSITIS
Largest movements
- Receivables within one year +€119,429
up €119,429 (+3,713%), from €3,217 to €122,646
of which Other amounts receivable: +€105,542
- Receivables after one year -€99,000
down €99,000 (-32.2%), from €307,282 to €208,282
of which Other amounts receivable: -€307,282
- Cash -€27,240
down €27,240 (-94.3%), from €28,887 to €1,646
mainly Receivables within one year (-€119,429) and Net result for the year (-€7,820)
- Tangible fixed assets -€5,282
down €5,282 (-14.1%), from €37,574 to €32,292
of which Plant, machinery and equipment: -€3,471
- Profit (loss) carried forward -€7,820
down €7,820 (-2.3%), from €335,139 to €327,320
- Gross operating margin +€16,213
up €16,213 (+80.6%), from -€20,126 to -€3,913
- Financial income -€1,513
down €1,513 (-20.7%), from €7,305 to €5,792
- Other operating charges -€1,226
down €1,226 (-60.9%), from €2,014 to €788
- Staff costs +€815
up €815 (+32.1%), from €2,543 to €3,358
- Financial charges -€275
down €275 (-50.4%), from €545 to €270
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 | €382,993 | €371,088 | -€11,905 | -3.1% |
| Fixed assets | 21/28 | €37,574 | €32,292 | -€5,282 | -14.1% |
| Tangible fixed assets | 22/27 | €37,574 | €32,292 | -€5,282 | -14.1% |
| Plant, machinery and equipment | 23 | €27,768 | €24,297 | -€3,471 | -12.5% |
| Furniture and vehicles | 24 | €9,806 | €7,995 | -€1,811 | -18.5% |
| Current assets | 29/58 | €345,419 | €338,796 | -€6,623 | -1.9% |
| Amounts receivable after more than one year | 29 | €307,282 | €208,282 | -€99,000 | -32.2% |
| Trade receivables | 290 | - | €208,282 | +€208,282 | |
| Other amounts receivable | 291 | €307,282 | - | -€307,282 | |
| Amounts receivable within one year | 40/41 | €3,217 | €122,646 | +€119,429 | +3,713% |
| Trade receivables | 40 | - | €13,887 | +€13,887 | |
| Other amounts receivable | 41 | €3,217 | €108,759 | +€105,542 | +3,281% |
| Cash at bank and in hand | 54/58 | €28,887 | €1,646 | -€27,240 | -94.3% |
| Deferred charges and accrued income | 490/1 | €6,034 | €6,221 | +€188 | +3.1% |
| Total equity and liabilities | 10/49 | €382,993 | €371,088 | -€11,905 | -3.1% |
| Equity | 10/15 | €341,139 | €333,320 | -€7,820 | -2.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €335,139 | €327,320 | -€7,820 | -2.3% |
| Amounts payable | 17/49 | €41,854 | €37,768 | -€4,085 | -9.8% |
| Amounts payable within one year | 42/48 | €41,854 | €37,768 | -€4,085 | -9.8% |
| Trade debts | 44 | €33,112 | €33,051 | -€61 | -0.2% |
| Suppliers | 440/4 | €33,112 | €33,051 | -€61 | -0.2% |
| Taxes, remuneration and social security | 45 | €241 | - | -€241 | |
| Remuneration and social security | 454/9 | €241 | - | -€241 | |
| Other amounts payable | 47/48 | €8,500 | €4,717 | -€3,783 | -44.5% |
| Remuneration, social security and pensions | 62 | €2,543 | €3,358 | +€815 | +32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,074 | €5,282 | +€208 | +4.1% |
| Other operating charges | 640/8 | €2,014 | €788 | -€1,226 | -60.9% |
| Gross operating margin | 9900 | -€20,126 | -€3,913 | +€16,213 | +80.6% |
| Operating profit (loss) | 9901 | -€29,757 | -€13,341 | +€16,416 | +55.2% |
| Financial income | 75/76B | €7,305 | €5,792 | -€1,513 | -20.7% |
| Recurring financial income | 75 | €7,305 | €5,792 | -€1,513 | -20.7% |
| Financial charges | 65/66B | €545 | €270 | -€275 | -50.4% |
| Recurring financial charges | 65 | €545 | €270 | -€275 | -50.4% |
| Profit (loss) for the period before taxes | 9903 | -€22,997 | -€7,820 | +€15,177 | +66.0% |
| Profit (loss) for the period | 9904 | -€22,997 | -€7,820 | +€15,177 | +66.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,997 | -€7,820 | +€15,177 | +66.0% |
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 14 October 2026 via checked.be.