BELSTAND PRODUCTION: 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.
BELSTAND PRODUCTION
Largest movements
- Receivables within one year -€125,505
down €125,505 (-47.5%), from €264,304 to €138,799
- Tangible fixed assets -€28,276
down €28,276 (-36.5%), from €77,414 to €49,138
of which Furniture and vehicles: -€25,192
- Cash -€15,374
down €15,374 (-50.4%), from €30,515 to €15,141
mainly Trade debts (-€195,759) and Debts after one year (-€13,743)
- Trade debts -€195,759
down €195,759 (-97.5%), from €200,825 to €5,066
- Profit (loss) carried forward +€29,415
up €29,415 (+63.8%), from €46,112 to €75,527
- Debts after one year -€13,743
down €13,743 (-33.4%), from €41,128 to €27,385
- Tax, wage and social debts +€8,393
up €8,393 (+16.8%), from €50,059 to €58,452
of which Taxes: +€5,655
- Gross operating margin +€38,220
up €38,220 (+13.5%), from €282,938 to €321,158
- Staff costs +€18,439
up €18,439 (+8.1%), from €227,484 to €245,923
- Depreciation +€6,330
up €6,330 (+28.0%), from €22,615 to €28,945
- Taxes +€3,992
up €3,992 (+44.8%), from €8,906 to €12,898
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 | €383,427 | €211,578 | -€171,849 | -44.8% |
| Fixed assets | 21/28 | €78,085 | €49,138 | -€28,947 | -37.1% |
| Intangible fixed assets | 21 | €671 | - | -€671 | |
| Tangible fixed assets | 22/27 | €77,414 | €49,138 | -€28,276 | -36.5% |
| Plant, machinery and equipment | 23 | €4,425 | €1,341 | -€3,084 | -69.7% |
| Furniture and vehicles | 24 | €72,989 | €47,797 | -€25,192 | -34.5% |
| Current assets | 29/58 | €305,342 | €162,440 | -€142,902 | -46.8% |
| Stocks and contracts in progress | 3 | €10,500 | €8,500 | -€2,000 | -19.0% |
| Stocks | 30/36 | €10,500 | €8,500 | -€2,000 | -19.0% |
| Amounts receivable within one year | 40/41 | €264,304 | €138,799 | -€125,505 | -47.5% |
| Trade receivables | 40 | €264,304 | €138,799 | -€125,505 | -47.5% |
| Cash at bank and in hand | 54/58 | €30,515 | €15,141 | -€15,374 | -50.4% |
| Deferred charges and accrued income | 490/1 | €23 | - | -€23 | |
| Total equity and liabilities | 10/49 | €383,427 | €211,578 | -€171,849 | -44.8% |
| Equity | 10/15 | €52,312 | €81,727 | +€29,415 | +56.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,112 | €75,527 | +€29,415 | +63.8% |
| Amounts payable | 17/49 | €331,115 | €129,851 | -€201,264 | -60.8% |
| Amounts payable after more than one year | 17 | €41,128 | €27,385 | -€13,743 | -33.4% |
| Financial debts | 170/4 | €41,128 | €27,385 | -€13,743 | -33.4% |
| Amounts payable within one year | 42/48 | €289,987 | €102,466 | -€187,521 | -64.7% |
| Current portion of amounts payable after more than one year | 42 | €18,271 | €18,928 | +€657 | +3.6% |
| Trade debts | 44 | €200,825 | €5,066 | -€195,759 | -97.5% |
| Suppliers | 440/4 | €200,825 | €5,066 | -€195,759 | -97.5% |
| Advances received on contracts in progress | 46 | €20,812 | €20,000 | -€812 | -3.9% |
| Taxes, remuneration and social security | 45 | €50,059 | €58,452 | +€8,393 | +16.8% |
| Taxes | 450/3 | €18,689 | €24,344 | +€5,655 | +30.3% |
| Remuneration and social security | 454/9 | €31,370 | €34,108 | +€2,738 | +8.7% |
| Other amounts payable | 47/48 | €20 | €20 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €227,484 | €245,923 | +€18,439 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,615 | €28,945 | +€6,330 | +28.0% |
| Other operating charges | 640/8 | €804 | €514 | -€290 | -36.1% |
| Gross operating margin | 9900 | €282,938 | €321,158 | +€38,220 | +13.5% |
| Operating profit (loss) | 9901 | €32,035 | €45,776 | +€13,741 | +42.9% |
| Financial charges | 65/66B | €3,200 | €3,463 | +€263 | +8.2% |
| Recurring financial charges | 65 | €3,200 | €3,463 | +€263 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | €28,835 | €42,313 | +€13,478 | +46.7% |
| Income taxes | 67/77 | €8,906 | €12,898 | +€3,992 | +44.8% |
| Profit (loss) for the period | 9904 | €19,929 | €29,415 | +€9,486 | +47.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,929 | €29,415 | +€9,486 | +47.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.