BELSUPPLIES: 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.
BELSUPPLIES
Largest movements
- Receivables within one year +€58,681
up €58,681 (+69.8%), from €84,028 to €142,710
of which Trade receivables: +€59,163
- Cash -€5,189
down €5,189 (-17.5%), from €29,585 to €24,396
mainly Contributions, distributions and other (-€59,196) and Receivables within one year (-€58,681)
- Trade debts +€63,569
up €63,569 (+121%), from €52,685 to €116,254
- Profit (loss) carried forward -€15,466
down €15,466 (-100%), from €15,466 to €0
- Other debts +€4,505
up €4,505 (+9.0%), from €50,104 to €54,609
- Gross operating margin +€11,807
up €11,807 (+21.3%), from €55,546 to €67,353
- Taxes +€2,737
up €2,737 (+19.2%), from €14,258 to €16,994
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 | €125,512 | €179,445 | +€53,934 | +43.0% |
| Fixed assets | 21/28 | €9,784 | €9,746 | -€38 | -0.4% |
| Tangible fixed assets | 22/27 | €9,384 | €9,346 | -€38 | -0.4% |
| Land and buildings | 22 | €5,291 | €4,571 | -€720 | -13.6% |
| Plant, machinery and equipment | 23 | - | €1,289 | +€1,289 | |
| Furniture and vehicles | 24 | €4,093 | €3,487 | -€606 | -14.8% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €115,728 | €169,699 | +€53,972 | +46.6% |
| Amounts receivable within one year | 40/41 | €84,028 | €142,710 | +€58,681 | +69.8% |
| Trade receivables | 40 | €83,071 | €142,234 | +€59,163 | +71.2% |
| Other amounts receivable | 41 | €957 | €475 | -€481 | -50.3% |
| Cash at bank and in hand | 54/58 | €29,585 | €24,396 | -€5,189 | -17.5% |
| Deferred charges and accrued income | 490/1 | €2,114 | €2,594 | +€479 | +22.7% |
| Total equity and liabilities | 10/49 | €125,512 | €179,445 | +€53,934 | +43.0% |
| Equity | 10/15 | €20,466 | €5,000 | -€15,466 | -75.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,466 | €0 | -€15,466 | -100% |
| Amounts payable | 17/49 | €105,046 | €174,445 | +€69,399 | +66.1% |
| Amounts payable within one year | 42/48 | €105,046 | €174,445 | +€69,399 | +66.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | - | €268 | +€268 | |
| Credit institutions | 430/8 | - | €268 | +€268 | |
| Trade debts | 44 | €52,685 | €116,254 | +€63,569 | +121% |
| Suppliers | 440/4 | €52,685 | €116,254 | +€63,569 | +121% |
| Taxes, remuneration and social security | 45 | €2,258 | €3,314 | +€1,056 | +46.8% |
| Taxes | 450/3 | €2,258 | €3,314 | +€1,056 | +46.8% |
| Other amounts payable | 47/48 | €50,104 | €54,609 | +€4,505 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,128 | €3,247 | +€120 | +3.8% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €55,546 | €67,353 | +€11,807 | +21.3% |
| Operating profit (loss) | 9901 | €51,913 | €63,586 | +€11,673 | +22.5% |
| Financial charges | 65/66B | €2,190 | €2,861 | +€672 | +30.7% |
| Recurring financial charges | 65 | €2,190 | €2,861 | +€672 | +30.7% |
| Profit (loss) for the period before taxes | 9903 | €49,723 | €60,725 | +€11,001 | +22.1% |
| Income taxes | 67/77 | €14,258 | €16,994 | +€2,737 | +19.2% |
| Profit (loss) for the period | 9904 | €35,466 | €43,730 | +€8,265 | +23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €35,466 | €43,730 | +€8,265 | +23.3% |
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 26 October 2026 via checked.be.