Belu Bouw: 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.
Belu Bouw
Largest movements
- Cash +€35,836
up €35,836 (+28.0%), from €127,779 to €163,615
mainly Net result for the year (+€27,107) and Depreciation (+€13,212)
- Tangible fixed assets -€11,561
down €11,561 (-35.0%), from €33,005 to €21,444
of which Furniture and vehicles: -€7,462
- Receivables within one year +€5,254
up €5,254 (+15.3%), from €34,264 to €39,518
of which Trade receivables: +€7,076
- Reserves +€27,107
up €27,107 (+21.7%), from €124,892 to €151,999
- Trade debts +€7,324
up €7,324 (+71.6%), from €10,230 to €17,554
- Debts after one year -€5,160
down €5,160 (-79.6%), from €6,485 to €1,325
- Tax, wage and social debts -€2,555
down €2,555 (-27.0%), from €9,474 to €6,918
of which Taxes: -€3,055
- Gross operating margin -€4,633
down €4,633 (-7.5%), from €61,609 to €56,975
- Taxes -€1,630
down €1,630 (-10.7%), from €15,219 to €13,589
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 | €203,635 | €232,054 | +€28,419 | +14.0% |
| Fixed assets | 21/28 | €33,005 | €21,444 | -€11,561 | -35.0% |
| Tangible fixed assets | 22/27 | €33,005 | €21,444 | -€11,561 | -35.0% |
| Plant, machinery and equipment | 23 | €12,768 | €8,669 | -€4,099 | -32.1% |
| Furniture and vehicles | 24 | €20,237 | €12,775 | -€7,462 | -36.9% |
| Current assets | 29/58 | €170,631 | €210,610 | +€39,979 | +23.4% |
| Stocks and contracts in progress | 3 | €5,991 | €4,921 | -€1,070 | -17.9% |
| Stocks | 30/36 | €5,991 | €4,921 | -€1,070 | -17.9% |
| Amounts receivable within one year | 40/41 | €34,264 | €39,518 | +€5,254 | +15.3% |
| Trade receivables | 40 | €32,442 | €39,518 | +€7,076 | +21.8% |
| Other amounts receivable | 41 | €1,822 | - | -€1,822 | |
| Cash at bank and in hand | 54/58 | €127,779 | €163,615 | +€35,836 | +28.0% |
| Deferred charges and accrued income | 490/1 | €2,597 | €2,556 | -€40 | -1.6% |
| Total equity and liabilities | 10/49 | €203,635 | €232,054 | +€28,419 | +14.0% |
| Equity | 10/15 | €151,158 | €178,265 | +€27,107 | +17.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €124,892 | €151,999 | +€27,107 | +21.7% |
| Distributable reserves | 133 | €124,892 | €151,999 | +€27,107 | +21.7% |
| Profit (loss) carried forward | 14 | €7,666 | €7,666 | = | 0.0% |
| Amounts payable | 17/49 | €52,477 | €53,789 | +€1,311 | +2.5% |
| Amounts payable after more than one year | 17 | €6,485 | €1,325 | -€5,160 | -79.6% |
| Financial debts | 170/4 | €6,485 | €1,325 | -€5,160 | -79.6% |
| Amounts payable within one year | 42/48 | €44,472 | €49,537 | +€5,065 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €4,945 | €5,160 | +€216 | +4.4% |
| Trade debts | 44 | €10,230 | €17,554 | +€7,324 | +71.6% |
| Suppliers | 440/4 | €10,230 | €17,554 | +€7,324 | +71.6% |
| Taxes, remuneration and social security | 45 | €9,474 | €6,918 | -€2,555 | -27.0% |
| Taxes | 450/3 | €8,474 | €5,418 | -€3,055 | -36.1% |
| Remuneration and social security | 454/9 | €1,000 | €1,500 | +€500 | +50.0% |
| Other amounts payable | 47/48 | €19,824 | €19,905 | +€81 | +0.4% |
| Accrued charges and deferred income | 492/3 | €1,520 | €2,927 | +€1,406 | +92.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,592 | €13,212 | -€380 | -2.8% |
| Other operating charges | 640/8 | €1,648 | €1,670 | +€22 | +1.3% |
| Non-recurring operating charges | 66A | €706 | - | -€706 | |
| Gross operating margin | 9900 | €61,609 | €56,975 | -€4,633 | -7.5% |
| Operating profit (loss) | 9901 | €45,662 | €42,093 | -€3,569 | -7.8% |
| Financial income | 75/76B | €244 | €568 | +€324 | +133% |
| Recurring financial income | 75 | €244 | €568 | +€324 | +133% |
| Financial charges | 65/66B | €2,226 | €1,964 | -€262 | -11.8% |
| Recurring financial charges | 65 | €2,226 | €1,964 | -€262 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €43,680 | €40,697 | -€2,983 | -6.8% |
| Income taxes | 67/77 | €15,219 | €13,589 | -€1,630 | -10.7% |
| Profit (loss) for the period | 9904 | €28,461 | €27,107 | -€1,353 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,461 | €27,107 | -€1,353 | -4.8% |
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 1 November 2026 via checked.be.