BELTIX: 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.
BELTIX
Largest movements
- Stocks and contracts +€33,082
up €33,082 (+46.7%), from €70,845 to €103,927
- Receivables within one year +€23,914
up €23,914 (+89.2%), from €26,824 to €50,738
of which Other amounts receivable: +€29,808
- Cash -€1,716
down €1,716 (-72.8%), from €2,358 to €642
mainly Stocks and contracts (-€33,082) and Receivables within one year (-€23,914)
- Trade debts +€44,459
up €44,459 (+875%), from €5,079 to €49,538
- Reserves +€14,863
up €14,863 (+16.5%), from €90,130 to €104,993
- Current portion of long-term debt -€10,000
no longer reported in 2025 (was €10,000)
- Tax, wage and social debts +€5,958
up €5,958 (+67.0%), from €8,894 to €14,852
- Gross operating margin -€20,765
down €20,765 (-45.9%), from €45,215 to €24,450
- Taxes -€2,945
down €2,945 (-33.1%), from €8,894 to €5,948
- Financial charges +€1,683
up €1,683 (+93.9%), from €1,791 to €3,474
- Financial income +€748
up €748 (+510%), from €146 to €894
- Other operating charges +€627
up €627 (+145%), from €432 to €1,059
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 | €102,226 | €157,507 | +€55,280 | +54.1% |
| Fixed assets | 21/28 | €2,200 | €2,200 | = | 0.0% |
| Financial fixed assets | 28 | €2,200 | €2,200 | = | 0.0% |
| Current assets | 29/58 | €100,026 | €155,307 | +€55,280 | +55.3% |
| Stocks and contracts in progress | 3 | €70,845 | €103,927 | +€33,082 | +46.7% |
| Stocks | 30/36 | €70,845 | €103,927 | +€33,082 | +46.7% |
| Amounts receivable within one year | 40/41 | €26,824 | €50,738 | +€23,914 | +89.2% |
| Trade receivables | 40 | €19,314 | €13,420 | -€5,894 | -30.5% |
| Other amounts receivable | 41 | €7,510 | €37,318 | +€29,808 | +397% |
| Cash at bank and in hand | 54/58 | €2,358 | €642 | -€1,716 | -72.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €102,226 | €157,507 | +€55,280 | +54.1% |
| Equity | 10/15 | €73,254 | €88,118 | +€14,863 | +20.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €90,130 | €104,993 | +€14,863 | +16.5% |
| Distributable reserves | 133 | €90,130 | €104,993 | +€14,863 | +16.5% |
| Profit (loss) carried forward | 14 | -€19,875 | -€19,875 | = | 0.0% |
| Provisions and deferred taxes | 16 | €5,000 | €5,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €5,000 | = | 0.0% |
| Environmental obligations | 163 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €23,972 | €64,389 | +€40,417 | +169% |
| Amounts payable within one year | 42/48 | €23,972 | €64,389 | +€40,417 | +169% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | - | -€10,000 | |
| Trade debts | 44 | €5,079 | €49,538 | +€44,459 | +875% |
| Suppliers | 440/4 | €5,079 | €49,538 | +€44,459 | +875% |
| Taxes, remuneration and social security | 45 | €8,894 | €14,852 | +€5,958 | +67.0% |
| Taxes | 450/3 | €8,894 | €14,852 | +€5,958 | +67.0% |
| Other operating charges | 640/8 | €432 | €1,059 | +€627 | +145% |
| Gross operating margin | 9900 | €45,215 | €24,450 | -€20,765 | -45.9% |
| Operating profit (loss) | 9901 | €44,783 | €23,391 | -€21,392 | -47.8% |
| Financial income | 75/76B | €146 | €894 | +€748 | +510% |
| Recurring financial income | 75 | €146 | €894 | +€748 | +510% |
| Financial charges | 65/66B | €1,791 | €3,474 | +€1,683 | +93.9% |
| Recurring financial charges | 65 | €1,791 | €3,474 | +€1,683 | +93.9% |
| Profit (loss) for the period before taxes | 9903 | €43,138 | €20,811 | -€22,327 | -51.8% |
| Income taxes | 67/77 | €8,894 | €5,948 | -€2,945 | -33.1% |
| Profit (loss) for the period | 9904 | €34,245 | €14,863 | -€19,381 | -56.6% |
| Profit (loss) for the period to be appropriated | 9905 | €34,245 | €14,863 | -€19,381 | -56.6% |
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.