Belstockx: 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.
Belstockx
Largest movements
- Current investments +€4.1m
up €4.1m, from €0 to €4.1m
- Cash -€3.7m
down €3.7m (-88.6%), from €4.1m to €471,044
mainly Current investments (-€4.1m) and Investment in fixed assets (net) (-€147,684)
- Receivables within one year -€91,995
down €91,995 (-77.5%), from €118,709 to €26,713
of which Other amounts receivable: -€76,406
- Profit (loss) carried forward +€254,545
up €254,545 (+113%), from €224,573 to €479,118
- Gross operating margin +€294,562
up €294,562 (+146%), from €201,224 to €495,786
- Financial income -€95,840
down €95,840 (-71.9%), from €133,326 to €37,486
- Taxes +€44,642
up €44,642 (+84.6%), from €52,746 to €97,387
- Depreciation +€16,619
up €16,619 (+11.0%), from €151,690 to €168,309
- Other operating charges +€7,173
up €7,173 (+157%), from €4,576 to €11,749
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 | €7,963,693 | €8,233,561 | +€269,869 | +3.4% |
| Fixed assets | 21/28 | €3,704,080 | €3,683,455 | -€20,625 | -0.6% |
| Tangible fixed assets | 22/27 | €3,704,080 | €3,683,455 | -€20,625 | -0.6% |
| Land and buildings | 22 | €2,227,729 | €2,164,317 | -€63,411 | -2.8% |
| Plant, machinery and equipment | 23 | €244,322 | €134,708 | -€109,614 | -44.9% |
| Furniture and vehicles | 24 | €139,090 | €237,277 | +€98,187 | +70.6% |
| Other tangible fixed assets | 26 | €1,092,939 | €1,147,153 | +€54,214 | +5.0% |
| Current assets | 29/58 | €4,259,613 | €4,550,106 | +€290,494 | +6.8% |
| Amounts receivable within one year | 40/41 | €118,709 | €26,713 | -€91,995 | -77.5% |
| Trade receivables | 40 | €39,936 | €24,347 | -€15,590 | -39.0% |
| Other amounts receivable | 41 | €78,773 | €2,367 | -€76,406 | -97.0% |
| Current investments | 50/53 | €0 | €4,050,000 | +€4.1m | |
| Cash at bank and in hand | 54/58 | €4,139,257 | €471,044 | -€3.7m | -88.6% |
| Deferred charges and accrued income | 490/1 | €1,647 | €2,349 | +€702 | +42.6% |
| Total equity and liabilities | 10/49 | €7,963,693 | €8,233,561 | +€269,869 | +3.4% |
| Equity | 10/15 | €7,076,696 | €7,330,788 | +€254,092 | +3.6% |
| Contributions | 10/11 | €2,800,000 | €2,800,000 | = | 0.0% |
| Capital | 10 | €2,800,000 | €2,800,000 | = | 0.0% |
| Issued capital | 100 | €2,800,000 | €2,800,000 | = | 0.0% |
| Reserves | 13 | €4,052,123 | €4,051,670 | -€453 | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,527,123 | €2,526,670 | -€453 | 0.0% |
| Distributable reserves | 133 | €1,510,000 | €1,510,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €224,573 | €479,118 | +€254,545 | +113% |
| Provisions and deferred taxes | 16 | €842,374 | €842,223 | -€151 | 0.0% |
| Deferred taxes | 168 | €842,374 | €842,223 | -€151 | 0.0% |
| Amounts payable | 17/49 | €44,622 | €60,550 | +€15,928 | +35.7% |
| Amounts payable within one year | 42/48 | €41,460 | €60,550 | +€19,090 | +46.0% |
| Trade debts | 44 | €4,773 | €20,346 | +€15,573 | +326% |
| Suppliers | 440/4 | €4,773 | €20,346 | +€15,573 | +326% |
| Taxes, remuneration and social security | 45 | €36,687 | €40,204 | +€3,517 | +9.6% |
| Taxes | 450/3 | €35,183 | €38,704 | +€3,521 | +10.0% |
| Remuneration and social security | 454/9 | €1,504 | €1,500 | -€4 | -0.3% |
| Accrued charges and deferred income | 492/3 | €3,162 | €0 | -€3,162 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,690 | €168,309 | +€16,619 | +11.0% |
| Other operating charges | 640/8 | €4,576 | €11,749 | +€7,173 | +157% |
| Gross operating margin | 9900 | €201,224 | €495,786 | +€294,562 | +146% |
| Operating profit (loss) | 9901 | €44,958 | €315,728 | +€270,769 | +602% |
| Financial income | 75/76B | €133,326 | €37,486 | -€95,840 | -71.9% |
| Recurring financial income | 75 | €133,326 | €37,486 | -€95,840 | -71.9% |
| Financial charges | 65/66B | €2,941 | €1,885 | -€1,055 | -35.9% |
| Recurring financial charges | 65 | €2,941 | €1,885 | -€1,055 | -35.9% |
| Profit (loss) for the period before taxes | 9903 | €175,344 | €351,329 | +€175,984 | +100% |
| Transfer from deferred taxes | 780 | €151 | €453 | +€302 | +200% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €52,746 | €97,387 | +€44,642 | +84.6% |
| Profit (loss) for the period | 9904 | €122,750 | €254,394 | +€131,644 | +107% |
| Transfer from tax-exempt reserves | 789 | €453 | €151 | -€302 | -66.7% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €123,203 | €254,545 | +€131,342 | +107% |
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 20 October 2026 via checked.be.