BELTAIN: 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.
BELTAIN
Largest movements
- Deferred charges and accrued income +€15,861
up €15,861 (+1,739%), from €912 to €16,774
- Receivables within one year -€1,611
down €1,611 (-43.3%), from €3,717 to €2,106
- Tangible fixed assets -€941
down €941 (-69.1%), from €1,361 to €420
- Cash +€232
up €232 (+1,211%), from €19 to €251
mainly Net result for the year (+€13,737) and Receivables within one year (+€1,611)
- Profit (loss) carried forward +€13,737
up €13,737 (+259%), from €5,312 to €19,048
- Tax, wage and social debts -€598
no longer reported in 2025 (was €598)
- Trade debts +€402
new in 2025: €402
- Gross operating margin +€10,396
up €10,396 (+108%), from €9,610 to €20,006
- Taxes +€1,828
up €1,828 (+80.1%), from €2,283 to €4,111
- Other operating charges -€485
down €485 (-30.4%), from €1,597 to €1,112
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 | €6,009 | €19,551 | +€13,541 | +225% |
| Fixed assets | 21/28 | €1,361 | €420 | -€941 | -69.1% |
| Tangible fixed assets | 22/27 | €1,361 | €420 | -€941 | -69.1% |
| Furniture and vehicles | 24 | €1,361 | €420 | -€941 | -69.1% |
| Current assets | 29/58 | €4,649 | €19,131 | +€14,482 | +312% |
| Amounts receivable within one year | 40/41 | €3,717 | €2,106 | -€1,611 | -43.3% |
| Other amounts receivable | 41 | €3,717 | €2,106 | -€1,611 | -43.3% |
| Cash at bank and in hand | 54/58 | €19 | €251 | +€232 | +1,211% |
| Deferred charges and accrued income | 490/1 | €912 | €16,774 | +€15,861 | +1,739% |
| Total equity and liabilities | 10/49 | €6,009 | €19,551 | +€13,541 | +225% |
| Equity | 10/15 | €5,412 | €19,148 | +€13,737 | +254% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Contributions outside capital | 11 | €100 | €100 | = | 0.0% |
| Other | 1109/19 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,312 | €19,048 | +€13,737 | +259% |
| Amounts payable | 17/49 | €598 | €402 | -€196 | -32.7% |
| Amounts payable within one year | 42/48 | €598 | €402 | -€196 | -32.7% |
| Trade debts | 44 | - | €402 | +€402 | |
| Suppliers | 440/4 | - | €402 | +€402 | |
| Taxes, remuneration and social security | 45 | €598 | - | -€598 | |
| Taxes | 450/3 | €598 | - | -€598 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €941 | €941 | = | 0.0% |
| Other operating charges | 640/8 | €1,597 | €1,112 | -€485 | -30.4% |
| Gross operating margin | 9900 | €9,610 | €20,006 | +€10,396 | +108% |
| Operating profit (loss) | 9901 | €7,072 | €17,953 | +€10,881 | +154% |
| Financial income | 75/76B | €131 | - | -€131 | |
| Recurring financial income | 75 | €131 | - | -€131 | |
| Financial charges | 65/66B | €70 | €105 | +€36 | +51.1% |
| Recurring financial charges | 65 | €70 | €105 | +€36 | +51.1% |
| Profit (loss) for the period before taxes | 9903 | €7,133 | €17,848 | +€10,715 | +150% |
| Income taxes | 67/77 | €2,283 | €4,111 | +€1,828 | +80.1% |
| Profit (loss) for the period | 9904 | €4,851 | €13,737 | +€8,886 | +183% |
| Profit (loss) for the period to be appropriated | 9905 | €4,851 | €13,737 | +€8,886 | +183% |
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 16 October 2026 via checked.be.