BELTAN: 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.
What changed
BELTAN
NACE 86.230, Dental practice
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€531,546
2024 · €618,467-€86,922
Equity
€1.6m
2024 · €1.6m+€1,296
Cash
€489,809
2024 · €248,674+€241,136
Balance sheet total
€7.0m
2024 · €6.4m+€628,685
Largest movements
Assets
- Receivables within one year +€413,548
up €413,548 (+7.4%), from €5.6m to €6.0m
of which Other amounts receivable: +€402,890
- Cash +€241,136
up €241,136 (+97.0%), from €248,674 to €489,809
mainly Other debts (+€623,129) and Net result for the year (+€531,546)
Equity and liabilities
- Other debts +€623,129
up €623,129 (+13.3%), from €4.7m to €5.3m
Income statement
- Gross operating margin -€97,156
down €97,156 (-9.9%), from €976,677 to €879,521
- Taxes -€29,280
down €29,280 (-14.0%), from €209,510 to €180,230
- Financial charges +€18,161
up €18,161 (+16.3%), from €111,217 to €129,378
- Financial income +€15,380
up €15,380 (+10.0%), from €153,281 to €168,661
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.
Result 2024
€618,467
Gross operating margin
-€97,156
Staff costs
-€7,608
Depreciation
+€418
Other operating charges
-€9,035
Other operating items
-€39
Financial income
+€15,380
Financial charges
-€18,161
Taxes
+€29,280
Result 2025
€531,546
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€772,373
Investment
-€987
Financing
-€530,250
Cash 2024
€248,674
From operations (derived)
+€772,373
Net result for the year
+€531,546
Depreciation
+€39,883
Stocks and contracts
+€1,200
Receivables within one year
-€413,548
Deferred charges and accrued income
-€14,098
Trade debts
-€10,631
Tax, wage and social debts
-€3,659
Other debts
+€623,129
Accrued charges and deferred income
+€18,550
Investment (derived)
-€987
Investment in fixed assets (net)
-€987
Financing
-€530,250
Contributions, distributions and other
-€530,250
Cash 2025
€489,809
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,384,022 | €7,012,707 | +€628,685 | +9.8% |
| Fixed assets | 21/28 | €392,223 | €353,327 | -€38,896 | -9.9% |
| Tangible fixed assets | 22/27 | €391,351 | €352,455 | -€38,896 | -9.9% |
| Land and buildings | 22 | €354,244 | €321,193 | -€33,051 | -9.3% |
| Plant, machinery and equipment | 23 | €14,404 | €10,215 | -€4,189 | -29.1% |
| Furniture and vehicles | 24 | €1,056 | €504 | -€551 | -52.2% |
| Other tangible fixed assets | 26 | €21,648 | €20,543 | -€1,105 | -5.1% |
| Financial fixed assets | 28 | €872 | €872 | = | 0.0% |
| Current assets | 29/58 | €5,991,799 | €6,659,380 | +€667,581 | +11.1% |
| Stocks and contracts in progress | 3 | €11,000 | €9,800 | -€1,200 | -10.9% |
| Stocks | 30/36 | €11,000 | €9,800 | -€1,200 | -10.9% |
| Amounts receivable within one year | 40/41 | €5,575,216 | €5,988,764 | +€413,548 | +7.4% |
| Trade receivables | 40 | €342,934 | €353,592 | +€10,658 | +3.1% |
| Other amounts receivable | 41 | €5,232,282 | €5,635,172 | +€402,890 | +7.7% |
| Cash at bank and in hand | 54/58 | €248,674 | €489,809 | +€241,136 | +97.0% |
| Deferred charges and accrued income | 490/1 | €156,909 | €171,006 | +€14,098 | +9.0% |
| Total equity and liabilities | 10/49 | €6,384,022 | €7,012,707 | +€628,685 | +9.8% |
| Equity | 10/15 | €1,553,736 | €1,555,031 | +€1,296 | +0.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,535,000 | €1,536,000 | +€1,000 | +0.1% |
| Distributable reserves | 133 | €1,535,000 | €1,536,000 | +€1,000 | +0.1% |
| Profit (loss) carried forward | 14 | €144 | €439 | +€296 | +206% |
| Amounts payable | 17/49 | €4,830,286 | €5,457,676 | +€627,390 | +13.0% |
| Amounts payable within one year | 42/48 | €4,719,406 | €5,328,246 | +€608,839 | +12.9% |
| Trade debts | 44 | €27,329 | €16,698 | -€10,631 | -38.9% |
| Suppliers | 440/4 | €27,329 | €16,698 | -€10,631 | -38.9% |
| Taxes, remuneration and social security | 45 | €23,930 | €20,271 | -€3,659 | -15.3% |
| Taxes | 450/3 | €10,034 | €5,230 | -€4,804 | -47.9% |
| Remuneration and social security | 454/9 | €13,896 | €15,041 | +€1,145 | +8.2% |
| Other amounts payable | 47/48 | €4,668,147 | €5,291,277 | +€623,129 | +13.3% |
| Accrued charges and deferred income | 492/3 | €110,879 | €129,430 | +€18,550 | +16.7% |
| Remuneration, social security and pensions | 62 | €119,516 | €127,124 | +€7,608 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,301 | €39,883 | -€418 | -1.0% |
| Other operating charges | 640/8 | €30,835 | €39,870 | +€9,035 | +29.3% |
| Non-recurring operating charges | 66A | €111 | €150 | +€39 | +35.1% |
| Gross operating margin | 9900 | €976,677 | €879,521 | -€97,156 | -9.9% |
| Operating profit (loss) | 9901 | €785,913 | €672,493 | -€113,420 | -14.4% |
| Financial income | 75/76B | €153,281 | €168,661 | +€15,380 | +10.0% |
| Recurring financial income | 75 | €153,281 | €168,661 | +€15,380 | +10.0% |
| Financial charges | 65/66B | €111,217 | €129,378 | +€18,161 | +16.3% |
| Recurring financial charges | 65 | €111,217 | €129,378 | +€18,161 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €827,977 | €711,776 | -€116,201 | -14.0% |
| Income taxes | 67/77 | €209,510 | €180,230 | -€29,280 | -14.0% |
| Profit (loss) for the period | 9904 | €618,467 | €531,546 | -€86,922 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €618,467 | €531,546 | -€86,922 | -14.1% |
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 25 October 2026 via checked.be.