Beltrio: 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.
Beltrio
Largest movements
- Stocks and contracts -€20,796
no longer reported in 2025 (was €20,796)
- Receivables within one year -€16,454
down €16,454 (-77.2%), from €21,326 to €4,872
of which Trade receivables: -€12,450
- Cash -€611
down €611 (-97.4%), from €627 to €16
mainly Net result for the year (-€24,511) and Trade debts (-€14,731)
- Profit (loss) carried forward -€24,511
down €24,511 (-903%), from -€2,716 to -€27,227
- Trade debts -€14,731
down €14,731 (-60.5%), from €24,358 to €9,628
- Tax, wage and social debts +€5,812
up €5,812 (+123%), from €4,726 to €10,538
of which Remuneration and social security: +€8,716
- Other debts -€4,622
down €4,622 (-28.8%), from €16,071 to €11,449
- Gross operating margin -€66,588
down €66,588, from €43,140 to -€23,448
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 | €42,940 | €4,888 | -€38,052 | -88.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €42,940 | €4,888 | -€38,052 | -88.6% |
| Stocks and contracts in progress | 3 | €20,796 | - | -€20,796 | |
| Stocks | 30/36 | €20,796 | - | -€20,796 | |
| Amounts receivable within one year | 40/41 | €21,326 | €4,872 | -€16,454 | -77.2% |
| Trade receivables | 40 | €17,322 | €4,872 | -€12,450 | -71.9% |
| Other amounts receivable | 41 | €4,004 | - | -€4,004 | |
| Cash at bank and in hand | 54/58 | €627 | €16 | -€611 | -97.4% |
| Deferred charges and accrued income | 490/1 | €190 | - | -€190 | |
| Total equity and liabilities | 10/49 | €42,940 | €4,888 | -€38,052 | -88.6% |
| Equity | 10/15 | -€2,216 | -€26,727 | -€24,511 | -1,106% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,716 | -€27,227 | -€24,511 | -903% |
| Amounts payable | 17/49 | €45,155 | €31,615 | -€13,540 | -30.0% |
| Amounts payable within one year | 42/48 | €45,155 | €31,615 | -€13,540 | -30.0% |
| Trade debts | 44 | €24,358 | €9,628 | -€14,731 | -60.5% |
| Suppliers | 440/4 | €24,358 | €9,628 | -€14,731 | -60.5% |
| Taxes, remuneration and social security | 45 | €4,726 | €10,538 | +€5,812 | +123% |
| Taxes | 450/3 | €4,726 | €1,821 | -€2,905 | -61.5% |
| Remuneration and social security | 454/9 | - | €8,716 | +€8,716 | |
| Other amounts payable | 47/48 | €16,071 | €11,449 | -€4,622 | -28.8% |
| Non-recurring operating income | 76A | €63,587 | - | -€63,587 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €245 | - | -€245 | |
| Other operating charges | 640/8 | €798 | €551 | -€246 | -30.9% |
| Gross operating margin | 9900 | €43,140 | -€23,448 | -€66,588 | |
| Operating profit (loss) | 9901 | €42,097 | -€24,000 | -€66,097 | |
| Financial income | 75/76B | €194 | €1 | -€193 | -99.5% |
| Recurring financial income | 75 | €194 | €1 | -€193 | -99.5% |
| Financial charges | 65/66B | €149 | €513 | +€364 | +245% |
| Recurring financial charges | 65 | €149 | €513 | +€364 | +245% |
| Profit (loss) for the period before taxes | 9903 | €42,142 | -€24,511 | -€66,654 | |
| Income taxes | 67/77 | €59 | - | -€59 | |
| Profit (loss) for the period | 9904 | €42,083 | -€24,511 | -€66,595 | |
| Profit (loss) for the period to be appropriated | 9905 | €42,083 | -€24,511 | -€66,595 |
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 21 October 2026 via checked.be.