BELSUN: 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.
BELSUN
Largest movements
- Receivables within one year +€15,512
new in 2025: €15,512
- Cash -€9,107
down €9,107 (-98.4%), from €9,254 to €147
mainly Receivables within one year (-€15,512) and Other debts (-€12,122)
- Other debts -€12,122
down €12,122 (-37.1%), from €32,634 to €20,512
- Advances received +€11,748
new in 2025: €11,748
- Profit (loss) carried forward +€8,091
up €8,091 (+16.7%), from -€48,406 to -€40,314
- Tax, wage and social debts -€3,067
down €3,067 (-58.6%), from €5,237 to €2,169
of which Remuneration and social security: -€2,584
- Trade debts +€1,755
up €1,755 (+148%), from €1,189 to €2,944
- Turnover -€66,579
no longer reported in 2025 (was €66,579)
- Purchases and services -€59,449
no longer reported in 2025 (was €59,449)
- Gross operating margin +€7,428
up €7,428 (+104%), from €7,130 to €14,558
- Staff costs +€2,322
up €2,322 (+63.9%), from €3,631 to €5,953
- Taxes -€1,211
no longer reported in 2025 (was €1,211)
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 | €9,254 | €15,659 | +€6,405 | +69.2% |
| Current assets | 29/58 | €9,254 | €15,659 | +€6,405 | +69.2% |
| Amounts receivable within one year | 40/41 | - | €15,512 | +€15,512 | |
| Trade receivables | 40 | - | €15,512 | +€15,512 | |
| Cash at bank and in hand | 54/58 | €9,254 | €147 | -€9,107 | -98.4% |
| Total equity and liabilities | 10/49 | €9,254 | €15,659 | +€6,405 | +69.2% |
| Equity | 10/15 | -€29,806 | -€21,714 | +€8,091 | +27.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,406 | -€40,314 | +€8,091 | +16.7% |
| Amounts payable | 17/49 | €39,059 | €37,373 | -€1,686 | -4.3% |
| Amounts payable within one year | 42/48 | €39,059 | €37,373 | -€1,686 | -4.3% |
| Trade debts | 44 | €1,189 | €2,944 | +€1,755 | +148% |
| Suppliers | 440/4 | €1,189 | €2,944 | +€1,755 | +148% |
| Advances received on contracts in progress | 46 | - | €11,748 | +€11,748 | |
| Taxes, remuneration and social security | 45 | €5,237 | €2,169 | -€3,067 | -58.6% |
| Taxes | 450/3 | €2,241 | €1,757 | -€483 | -21.6% |
| Remuneration and social security | 454/9 | €2,996 | €412 | -€2,584 | -86.2% |
| Other amounts payable | 47/48 | €32,634 | €20,512 | -€12,122 | -37.1% |
| Turnover | 70 | €66,579 | - | -€66,579 | |
| Goods, raw materials, services and sundry goods | 60/61 | €59,449 | - | -€59,449 | |
| Remuneration, social security and pensions | 62 | €3,631 | €5,953 | +€2,322 | +63.9% |
| Other operating charges | 640/8 | €1,560 | €400 | -€1,160 | -74.4% |
| Gross operating margin | 9900 | €7,130 | €14,558 | +€7,428 | +104% |
| Operating profit (loss) | 9901 | €1,940 | €8,205 | +€6,266 | +323% |
| Financial income | 75/76B | €158 | - | -€158 | |
| Recurring financial income | 75 | €158 | - | -€158 | |
| Non-recurring financial income | 76B | €158 | - | -€158 | |
| Financial charges | 65/66B | €459 | €114 | -€345 | -75.2% |
| Recurring financial charges | 65 | €459 | €114 | -€345 | -75.2% |
| Profit (loss) for the period before taxes | 9903 | €1,638 | €8,091 | +€6,453 | +394% |
| Income taxes | 67/77 | €1,211 | - | -€1,211 | |
| Profit (loss) for the period | 9904 | €427 | €8,091 | +€7,664 | +1,794% |
| Profit (loss) for the period to be appropriated | 9905 | €427 | €8,091 | +€7,664 | +1,794% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.