BELTRONIQUE: 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.
BELTRONIQUE
Largest movements
- Receivables within one year +€12,997
up €12,997 (+61.3%), from €21,212 to €34,209
of which Trade receivables: +€9,202
- Tangible fixed assets +€10,060
up €10,060 (+110%), from €9,133 to €19,193
- Cash -€9,662
down €9,662 (-74.2%), from €13,025 to €3,363
mainly Contributions, distributions and other (-€80,001) and Investment in fixed assets (net) (-€13,345)
- Profit (loss) carried forward +€13,850
up €13,850 (+6.2%), from €225,175 to €239,025
- Trade debts -€6,272
down €6,272 (-93.7%), from €6,691 to €419
- Tax, wage and social debts +€5,822
up €5,822 (+148%), from €3,923 to €9,745
- Gross operating margin +€13,020
up €13,020 (+23.0%), from €56,537 to €69,557
- Financial income -€8,152
down €8,152 (-14.4%), from €56,608 to €48,456
- Taxes +€4,441
up €4,441 (+32.6%), from €13,625 to €18,066
- Depreciation -€1,591
down €1,591 (-32.6%), from €4,876 to €3,285
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 | €254,453 | €267,853 | +€13,400 | +5.3% |
| Fixed assets | 21/28 | €204,302 | €214,362 | +€10,060 | +4.9% |
| Tangible fixed assets | 22/27 | €9,133 | €19,193 | +€10,060 | +110% |
| Furniture and vehicles | 24 | €9,133 | €19,193 | +€10,060 | +110% |
| Financial fixed assets | 28 | €195,169 | €195,169 | = | 0.0% |
| Current assets | 29/58 | €50,151 | €53,491 | +€3,340 | +6.7% |
| Amounts receivable within one year | 40/41 | €21,212 | €34,209 | +€12,997 | +61.3% |
| Trade receivables | 40 | €10,912 | €20,114 | +€9,202 | +84.3% |
| Other amounts receivable | 41 | €10,300 | €14,095 | +€3,795 | +36.8% |
| Current investments | 50/53 | €15,000 | €15,230 | +€230 | +1.5% |
| Cash at bank and in hand | 54/58 | €13,025 | €3,363 | -€9,662 | -74.2% |
| Deferred charges and accrued income | 490/1 | €914 | €689 | -€225 | -24.6% |
| Total equity and liabilities | 10/49 | €254,453 | €267,853 | +€13,400 | +5.3% |
| Equity | 10/15 | €243,775 | €257,625 | +€13,850 | +5.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €225,175 | €239,025 | +€13,850 | +6.2% |
| Amounts payable | 17/49 | €10,678 | €10,228 | -€450 | -4.2% |
| Amounts payable within one year | 42/48 | €10,678 | €10,228 | -€450 | -4.2% |
| Trade debts | 44 | €6,691 | €419 | -€6,272 | -93.7% |
| Suppliers | 440/4 | €6,691 | €419 | -€6,272 | -93.7% |
| Taxes, remuneration and social security | 45 | €3,923 | €9,745 | +€5,822 | +148% |
| Taxes | 450/3 | €3,923 | €9,745 | +€5,822 | +148% |
| Other amounts payable | 47/48 | €64 | €64 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,876 | €3,285 | -€1,591 | -32.6% |
| Other operating charges | 640/8 | €71 | €204 | +€133 | +187% |
| Non-recurring operating charges | 66A | - | €1,752 | +€1,752 | |
| Gross operating margin | 9900 | €56,537 | €69,557 | +€13,020 | +23.0% |
| Operating profit (loss) | 9901 | €51,590 | €64,316 | +€12,726 | +24.7% |
| Financial income | 75/76B | €56,608 | €48,456 | -€8,152 | -14.4% |
| Recurring financial income | 75 | €56,608 | €48,456 | -€8,152 | -14.4% |
| Financial charges | 65/66B | €672 | €855 | +€183 | +27.2% |
| Recurring financial charges | 65 | €672 | €855 | +€183 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | €107,526 | €111,917 | +€4,391 | +4.1% |
| Income taxes | 67/77 | €13,625 | €18,066 | +€4,441 | +32.6% |
| Profit (loss) for the period | 9904 | €93,901 | €93,851 | -€50 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €93,901 | €93,851 | -€50 | -0.1% |
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 25 October 2026 via checked.be.