Beltraco: what changed
Beltraco
Largest movements
- Cash +€25,359
up €25,359 (+46.6%), from €54,423 to €79,781
mainly Net result for the year (+€19,889) and Depreciation (+€7,735)
- Tangible fixed assets -€7,240
down €7,240 (-27.8%), from €26,020 to €18,781
- Reserves +€19,889
up €19,889 (+56.2%), from €35,400 to €55,289
- Tax, wage and social debts +€6,971
up €6,971 (+25.8%), from €27,027 to €33,998
of which Taxes: +€6,943
- Debts after one year -€6,866
down €6,866 (-38.5%), from €17,848 to €10,982
- Trade debts -€1,726
down €1,726 (-57.3%), from €3,010 to €1,284
- Gross operating margin +€3,573
up €3,573 (+9.7%), from €36,771 to €40,343
- Taxes +€1,243
up €1,243 (+13.9%), from €8,945 to €10,187
- Other operating charges +€1,209
up €1,209 (+394%), from €307 to €1,516
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 | €93,942 | €112,853 | +€18,911 | +20.1% |
| Fixed assets | 21/28 | €26,020 | €18,781 | -€7,240 | -27.8% |
| Tangible fixed assets | 22/27 | €26,020 | €18,781 | -€7,240 | -27.8% |
| Furniture and vehicles | 24 | €26,020 | €18,781 | -€7,240 | -27.8% |
| Current assets | 29/58 | €67,922 | €94,073 | +€26,151 | +38.5% |
| Amounts receivable within one year | 40/41 | €13,499 | €14,291 | +€792 | +5.9% |
| Trade receivables | 40 | €13,499 | €14,262 | +€763 | +5.7% |
| Other amounts receivable | 41 | - | €29 | +€29 | |
| Cash at bank and in hand | 54/58 | €54,423 | €79,781 | +€25,359 | +46.6% |
| Total equity and liabilities | 10/49 | €93,942 | €112,853 | +€18,911 | +20.1% |
| Equity | 10/15 | €37,500 | €57,388 | +€19,889 | +53.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €35,400 | €55,289 | +€19,889 | +56.2% |
| Distributable reserves | 133 | €35,400 | €55,289 | +€19,889 | +56.2% |
| Profit (loss) carried forward | 14 | €100 | €100 | = | 0.0% |
| Amounts payable | 17/49 | €56,442 | €55,465 | -€978 | -1.7% |
| Amounts payable after more than one year | 17 | €17,848 | €10,982 | -€6,866 | -38.5% |
| Financial debts | 170/4 | €17,848 | €10,982 | -€6,866 | -38.5% |
| Amounts payable within one year | 42/48 | €38,595 | €44,483 | +€5,888 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €6,522 | €6,866 | +€343 | +5.3% |
| Trade debts | 44 | €3,010 | €1,284 | -€1,726 | -57.3% |
| Suppliers | 440/4 | €3,010 | €1,284 | -€1,726 | -57.3% |
| Taxes, remuneration and social security | 45 | €27,027 | €33,998 | +€6,971 | +25.8% |
| Taxes | 450/3 | €23,447 | €30,390 | +€6,943 | +29.6% |
| Remuneration and social security | 454/9 | €3,580 | €3,608 | +€28 | +0.8% |
| Other amounts payable | 47/48 | €2,036 | €2,335 | +€300 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,648 | €7,735 | +€87 | +1.1% |
| Other operating charges | 640/8 | €307 | €1,516 | +€1,209 | +394% |
| Gross operating margin | 9900 | €36,771 | €40,343 | +€3,573 | +9.7% |
| Operating profit (loss) | 9901 | €28,816 | €31,093 | +€2,277 | +7.9% |
| Financial income | 75/76B | €78 | €272 | +€195 | +250% |
| Recurring financial income | 75 | €78 | €272 | +€195 | +250% |
| Financial charges | 65/66B | €1,600 | €1,289 | -€311 | -19.4% |
| Recurring financial charges | 65 | €1,600 | €1,289 | -€311 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | €27,293 | €30,076 | +€2,783 | +10.2% |
| Income taxes | 67/77 | €8,945 | €10,187 | +€1,243 | +13.9% |
| Profit (loss) for the period | 9904 | €18,349 | €19,889 | +€1,540 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,349 | €19,889 | +€1,540 | +8.4% |
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 5 November 2026 via checked.be.