BELTOLIA: what changed
BELTOLIA
Largest movements
- Tangible fixed assets +€8,625
new in 2025: €8,625
- Receivables within one year +€5,338
up €5,338 (+13.2%), from €40,517 to €45,854
of which Trade receivables: +€7,149
- Financial fixed assets +€4,800
up €4,800 (+400%), from €1,200 to €6,000
- Stocks and contracts +€3,485
new in 2025: €3,485
- Cash -€2,909
down €2,909 (-18.8%), from €15,499 to €12,590
mainly Investment in fixed assets (net) (-€16,300) and Receivables within one year (-€5,338)
- Trade debts +€15,723
up €15,723 (+43.6%), from €36,055 to €51,779
- Profit (loss) carried forward +€3,221
up €3,221 (+20.5%), from €15,725 to €18,946
- Gross operating margin -€2,943
down €2,943 (-19.1%), from €15,411 to €12,469
- Depreciation +€2,875
new in 2025: €2,875
- Taxes +€2,129
up €2,129 (+92.9%), from €2,292 to €4,421
- Other operating charges +€1,399
up €1,399 (+389%), from €360 to €1,759
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €57,216 | €76,886 | +€19,671 | +34.4% |
| Fixed assets | 21/28 | €1,200 | €14,625 | +€13,425 | +1,119% |
| Tangible fixed assets | 22/27 | - | €8,625 | +€8,625 | |
| Furniture and vehicles | 24 | - | €8,625 | +€8,625 | |
| Financial fixed assets | 28 | €1,200 | €6,000 | +€4,800 | +400% |
| Current assets | 29/58 | €56,016 | €62,261 | +€6,246 | +11.1% |
| Stocks and contracts in progress | 3 | - | €3,485 | +€3,485 | |
| Stocks | 30/36 | - | €3,485 | +€3,485 | |
| Amounts receivable within one year | 40/41 | €40,517 | €45,854 | +€5,338 | +13.2% |
| Trade receivables | 40 | €37,590 | €44,739 | +€7,149 | +19.0% |
| Other amounts receivable | 41 | €2,927 | €1,115 | -€1,811 | -61.9% |
| Cash at bank and in hand | 54/58 | €15,499 | €12,590 | -€2,909 | -18.8% |
| Deferred charges and accrued income | 490/1 | - | €332 | +€332 | |
| Total equity and liabilities | 10/49 | €57,216 | €76,886 | +€19,671 | +34.4% |
| Equity | 10/15 | €18,725 | €21,946 | +€3,221 | +17.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,725 | €18,946 | +€3,221 | +20.5% |
| Amounts payable | 17/49 | €38,491 | €54,940 | +€16,450 | +42.7% |
| Amounts payable within one year | 42/48 | €38,491 | €54,940 | +€16,450 | +42.7% |
| Trade debts | 44 | €36,055 | €51,779 | +€15,723 | +43.6% |
| Suppliers | 440/4 | €36,055 | €51,779 | +€15,723 | +43.6% |
| Taxes, remuneration and social security | 45 | €2,435 | €3,162 | +€726 | +29.8% |
| Taxes | 450/3 | €2,435 | €3,162 | +€726 | +29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,875 | +€2,875 | |
| Other operating charges | 640/8 | €360 | €1,759 | +€1,399 | +389% |
| Non-recurring operating charges | 66A | €7,253 | - | -€7,253 | |
| Gross operating margin | 9900 | €15,411 | €12,469 | -€2,943 | -19.1% |
| Operating profit (loss) | 9901 | €7,798 | €7,835 | +€37 | +0.5% |
| Financial income | 75/76B | €28 | €10 | -€18 | -62.7% |
| Recurring financial income | 75 | €28 | €10 | -€18 | -62.7% |
| Financial charges | 65/66B | €196 | €203 | +€7 | +3.4% |
| Recurring financial charges | 65 | €196 | €203 | +€7 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €7,630 | €7,642 | +€13 | +0.2% |
| Income taxes | 67/77 | €2,292 | €4,421 | +€2,129 | +92.9% |
| Profit (loss) for the period | 9904 | €5,337 | €3,221 | -€2,116 | -39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,337 | €3,221 | -€2,116 | -39.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.