BELSOLAR CONNECT: 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.
BELSOLAR CONNECT
Largest movements
- Cash -€39,927
down €39,927 (-95.0%), from €42,032 to €2,105
mainly Receivables within one year (-€27,092) and Net result for the year (-€22,747)
- Receivables within one year +€27,092
up €27,092 (+1588.6%), from €1,705 to €28,797
of which Trade receivables: +€25,710
- Tangible fixed assets -€2,125
down €2,125 (-37.9%), from €5,612 to €3,487
- Profit (loss) carried forward -€22,747
new in 2025: -€22,747
- Trade debts +€10,697
up €10,697 (+261.8%), from €4,086 to €14,782
- Tax, wage and social debts -€1,677
down €1,677 (-64.9%), from €2,582 to €905
of which Remuneration and social security: -€1,517
- Other debts -€1,009
down €1,009 (-14.5%), from €6,976 to €5,966
- Gross operating margin -€34,906
down €34,906, from €11,853 to -€23,053
- Write-downs -€11,402
down €11,402, from €5,701 to -€5,701
- Financial charges +€2,068
up €2,068 (+591.7%), from €350 to €2,418
- Taxes +€1,220
up €1,220, from -€1,061 to €160
- Other operating charges -€341
down €341 (-33.0%), from €1,033 to €692
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 | €49,436 | €34,700 | -€14,736 | -29.8% |
| Fixed assets | 21/28 | €5,612 | €3,487 | -€2,125 | -37.9% |
| Tangible fixed assets | 22/27 | €5,612 | €3,487 | -€2,125 | -37.9% |
| Furniture and vehicles | 24 | €5,612 | €3,487 | -€2,125 | -37.9% |
| Current assets | 29/58 | €43,824 | €31,213 | -€12,611 | -28.8% |
| Amounts receivable within one year | 40/41 | €1,705 | €28,797 | +€27,092 | +1588.6% |
| Trade receivables | 40 | €1,705 | €27,415 | +€25,710 | +1507.6% |
| Other amounts receivable | 41 | - | €1,382 | +€1,382 | |
| Cash at bank and in hand | 54/58 | €42,032 | €2,105 | -€39,927 | -95.0% |
| Deferred charges and accrued income | 490/1 | €86 | €310 | +€224 | +259.7% |
| Total equity and liabilities | 10/49 | €49,436 | €34,700 | -€14,736 | -29.8% |
| Equity | 10/15 | €35,793 | €13,046 | -€22,747 | -63.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €30,793 | €30,793 | = | 0.0% |
| Distributable reserves | 133 | €30,793 | €30,793 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€22,747 | -€22,747 | |
| Amounts payable | 17/49 | €13,643 | €21,654 | +€8,011 | +58.7% |
| Amounts payable within one year | 42/48 | €13,643 | €21,654 | +€8,011 | +58.7% |
| Trade debts | 44 | €4,086 | €14,782 | +€10,697 | +261.8% |
| Suppliers | 440/4 | €4,086 | €14,782 | +€10,697 | +261.8% |
| Taxes, remuneration and social security | 45 | €2,582 | €905 | -€1,677 | -64.9% |
| Taxes | 450/3 | €1,065 | €905 | -€159 | -15.0% |
| Remuneration and social security | 454/9 | €1,517 | - | -€1,517 | |
| Other amounts payable | 47/48 | €6,976 | €5,966 | -€1,009 | -14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,125 | €2,125 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,701 | -€5,701 | -€11,402 | |
| Other operating charges | 640/8 | €1,033 | €692 | -€341 | -33.0% |
| Gross operating margin | 9900 | €11,853 | -€23,053 | -€34,906 | |
| Operating profit (loss) | 9901 | €2,993 | -€20,169 | -€23,162 | |
| Financial charges | 65/66B | €350 | €2,418 | +€2,068 | +591.7% |
| Recurring financial charges | 65 | €350 | €2,418 | +€2,068 | +591.7% |
| Profit (loss) for the period before taxes | 9903 | €2,643 | -€22,587 | -€25,230 | |
| Income taxes | 67/77 | -€1,061 | €160 | +€1,220 | |
| Profit (loss) for the period | 9904 | €3,704 | -€22,747 | -€26,451 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,704 | -€22,747 | -€26,451 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.