Beltiles: 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.
Beltiles
Largest movements
- Cash +€12,257
up €12,257 (+579%), from €2,118 to €14,375
mainly Net result for the year (+€8,863) and Trade debts (+€3,834)
- Receivables within one year +€2,687
up €2,687 (+24.5%), from €10,953 to €13,639
of which Other amounts receivable: +€3,071
- Reserves +€12,000
new in 2025: €12,000
of which Non-distributable reserves: +€6,000
- Trade debts +€3,834
up €3,834 (+1,055%), from €363 to €4,197
- Profit (loss) carried forward -€3,137
down €3,137 (-87.8%), from €3,572 to €436
- Other debts +€2,121
up €2,121 (+36.9%), from €5,750 to €7,871
- Gross operating margin +€13,882
up €13,882, from -€2,180 to €11,702
- Other operating charges +€1,261
up €1,261 (+299%), from €422 to €1,683
- Taxes +€947
up €947, from €0 to €947
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 | €17,177 | €31,995 | +€14,818 | +86.3% |
| Current assets | 29/58 | €17,177 | €31,995 | +€14,818 | +86.3% |
| Stocks and contracts in progress | 3 | €4,107 | €3,981 | -€126 | -3.1% |
| Stocks | 30/36 | €4,107 | €3,981 | -€126 | -3.1% |
| Amounts receivable within one year | 40/41 | €10,953 | €13,639 | +€2,687 | +24.5% |
| Trade receivables | 40 | €8,905 | €8,521 | -€384 | -4.3% |
| Other amounts receivable | 41 | €2,047 | €5,119 | +€3,071 | +150% |
| Cash at bank and in hand | 54/58 | €2,118 | €14,375 | +€12,257 | +579% |
| Total equity and liabilities | 10/49 | €17,177 | €31,995 | +€14,818 | +86.3% |
| Equity | 10/15 | €9,572 | €18,436 | +€8,863 | +92.6% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | - | €12,000 | +€12,000 | |
| Non-distributable reserves | 130/1 | - | €6,000 | +€6,000 | |
| Reserves not available under the articles | 1311 | - | €6,000 | +€6,000 | |
| Distributable reserves | 133 | - | €6,000 | +€6,000 | |
| Profit (loss) carried forward | 14 | €3,572 | €436 | -€3,137 | -87.8% |
| Amounts payable | 17/49 | €7,605 | €13,559 | +€5,954 | +78.3% |
| Amounts payable within one year | 42/48 | €7,605 | €13,559 | +€5,954 | +78.3% |
| Trade debts | 44 | €363 | €4,197 | +€3,834 | +1,055% |
| Suppliers | 440/4 | €363 | €4,197 | +€3,834 | +1,055% |
| Taxes, remuneration and social security | 45 | €1,492 | €1,491 | -€0 | 0.0% |
| Taxes | 450/3 | €1,492 | €1,491 | -€0 | 0.0% |
| Other amounts payable | 47/48 | €5,750 | €7,871 | +€2,121 | +36.9% |
| Other operating charges | 640/8 | €422 | €1,683 | +€1,261 | +299% |
| Gross operating margin | 9900 | -€2,180 | €11,702 | +€13,882 | |
| Operating profit (loss) | 9901 | -€2,602 | €10,019 | +€12,621 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +300% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +300% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €198 | €209 | +€12 | +5.9% |
| Recurring financial charges | 65 | €198 | €209 | +€12 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,799 | €9,810 | +€12,609 | |
| Income taxes | 67/77 | €0 | €947 | +€947 | |
| Profit (loss) for the period | 9904 | -€2,799 | €8,863 | +€11,663 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,799 | €8,863 | +€11,663 |
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 22 October 2026 via checked.be.