Beltex: 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.
Beltex
Largest movements
- Cash -€5,683
down €5,683 (-75.3%), from €7,546 to €1,863
mainly Net result for the year (-€5,855) and Stocks and contracts (-€1,000)
- Tangible fixed assets -€1,967
down €1,967 (-86.7%), from €2,269 to €302
- Stocks and contracts +€1,000
up €1,000 (+47.6%), from €2,103 to €3,103
- Deferred charges and accrued income +€560
new in 2025: €560
- Receivables within one year +€513
up €513 (+7.3%), from €7,009 to €7,521
of which Trade receivables: +€3,603
- Profit (loss) carried forward -€5,855
down €5,855 (-11.1%), from -€52,921 to -€58,776
- Trade debts +€253
up €253 (+323%), from €78 to €331
- Gross operating margin -€9,048
down €9,048, from €5,848 to -€3,199
- Other operating charges -€1,888
down €1,888 (-75.8%), from €2,489 to €601
- Taxes -€284
no longer reported in 2025 (was €284)
- Write-downs +€119
no longer reported in 2025 (was -€119)
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 | €19,716 | €14,139 | -€5,577 | -28.3% |
| Fixed assets | 21/28 | €3,059 | €1,092 | -€1,967 | -64.3% |
| Tangible fixed assets | 22/27 | €2,269 | €302 | -€1,967 | -86.7% |
| Furniture and vehicles | 24 | €2,269 | €302 | -€1,967 | -86.7% |
| Financial fixed assets | 28 | €790 | €790 | = | 0.0% |
| Current assets | 29/58 | €16,658 | €13,047 | -€3,610 | -21.7% |
| Stocks and contracts in progress | 3 | €2,103 | €3,103 | +€1,000 | +47.6% |
| Stocks | 30/36 | €2,103 | €3,103 | +€1,000 | +47.6% |
| Amounts receivable within one year | 40/41 | €7,009 | €7,521 | +€513 | +7.3% |
| Trade receivables | 40 | €1,963 | €5,565 | +€3,603 | +184% |
| Other amounts receivable | 41 | €5,046 | €1,956 | -€3,090 | -61.2% |
| Cash at bank and in hand | 54/58 | €7,546 | €1,863 | -€5,683 | -75.3% |
| Deferred charges and accrued income | 490/1 | - | €560 | +€560 | |
| Total equity and liabilities | 10/49 | €19,716 | €14,139 | -€5,577 | -28.3% |
| Equity | 10/15 | €16,663 | €10,808 | -€5,855 | -35.1% |
| Contributions | 10/11 | €65,099 | €65,099 | = | 0.0% |
| Reserves | 13 | €4,486 | €4,486 | = | 0.0% |
| Distributable reserves | 133 | €4,486 | €4,486 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,921 | -€58,776 | -€5,855 | -11.1% |
| Amounts payable | 17/49 | €3,053 | €3,331 | +€278 | +9.1% |
| Amounts payable after more than one year | 17 | €2,975 | €3,000 | +€25 | +0.8% |
| Other amounts payable | 178/9 | €2,975 | €3,000 | +€25 | +0.8% |
| Amounts payable within one year | 42/48 | €78 | €331 | +€253 | +323% |
| Trade debts | 44 | €78 | €331 | +€253 | +323% |
| Suppliers | 440/4 | €78 | €331 | +€253 | +323% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,967 | €1,967 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€119 | - | +€119 | |
| Other operating charges | 640/8 | €2,489 | €601 | -€1,888 | -75.8% |
| Gross operating margin | 9900 | €5,848 | -€3,199 | -€9,048 | |
| Operating profit (loss) | 9901 | €1,512 | -€5,768 | -€7,279 | |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €74 | €91 | +€17 | +22.4% |
| Recurring financial charges | 65 | €74 | €91 | +€17 | +22.4% |
| Profit (loss) for the period before taxes | 9903 | €1,438 | -€5,855 | -€7,293 | |
| Income taxes | 67/77 | €284 | - | -€284 | |
| Profit (loss) for the period | 9904 | €1,154 | -€5,855 | -€7,009 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,154 | -€5,855 | -€7,009 |
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 18 October 2026 via checked.be.