BELUKI: 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.
BELUKI
Largest movements
- Cash +€187,737
up €187,737 (+129%), from €145,817 to €333,554
mainly Net result for the year (+€404,833) and Tax, wage and social debts (+€152,460)
- Current investments +€100,000
up €100,000 (+41.7%), from €239,676 to €339,676
- Tangible fixed assets -€89,219
down €89,219 (-24.9%), from €358,020 to €268,801
of which Furniture and vehicles: -€79,365
- Receivables within one year +€50,747
up €50,747 (+172%), from €29,447 to €80,194
of which Trade receivables: +€52,640
- Profit (loss) carried forward +€265,333
up €265,333 (+190%), from €139,533 to €404,866
- Advances received -€200,000
down €200,000 (-100%), from €200,000 to €0
- Tax, wage and social debts +€152,460
up €152,460 (+116%), from €131,716 to €284,176
- Other debts +€29,753
up €29,753 (+77.8%), from €38,254 to €68,007
- Debts after one year -€17,715
down €17,715 (-7.4%), from €238,529 to €220,815
- Gross operating margin +€268,566
up €268,566 (+72.0%), from €373,077 to €641,643
- Taxes +€49,205
up €49,205 (+49.9%), from €98,636 to €147,841
- Financial charges +€12,167
up €12,167 (+336%), from €3,616 to €15,784
- Financial income +€6,750
up €6,750 (+122,954%), from €5 to €6,756
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 | €797,959 | €1,047,225 | +€249,266 | +31.2% |
| Fixed assets | 21/28 | €383,020 | €293,801 | -€89,219 | -23.3% |
| Tangible fixed assets | 22/27 | €358,020 | €268,801 | -€89,219 | -24.9% |
| Land and buildings | 22 | €261,288 | €250,062 | -€11,226 | -4.3% |
| Plant, machinery and equipment | 23 | €9,109 | €10,481 | +€1,372 | +15.1% |
| Furniture and vehicles | 24 | €87,622 | €8,258 | -€79,365 | -90.6% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €414,940 | €753,424 | +€338,484 | +81.6% |
| Amounts receivable within one year | 40/41 | €29,447 | €80,194 | +€50,747 | +172% |
| Trade receivables | 40 | €18,377 | €71,017 | +€52,640 | +286% |
| Other amounts receivable | 41 | €11,070 | €9,177 | -€1,893 | -17.1% |
| Current investments | 50/53 | €239,676 | €339,676 | +€100,000 | +41.7% |
| Cash at bank and in hand | 54/58 | €145,817 | €333,554 | +€187,737 | +129% |
| Total equity and liabilities | 10/49 | €797,959 | €1,047,225 | +€249,266 | +31.2% |
| Equity | 10/15 | €158,083 | €423,416 | +€265,333 | +168% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €139,533 | €404,866 | +€265,333 | +190% |
| Amounts payable | 17/49 | €639,876 | €623,809 | -€16,067 | -2.5% |
| Amounts payable after more than one year | 17 | €238,529 | €220,815 | -€17,715 | -7.4% |
| Financial debts | 170/4 | €238,529 | €220,815 | -€17,715 | -7.4% |
| Amounts payable within one year | 42/48 | €401,347 | €402,995 | +€1,647 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €8,740 | €13,422 | +€4,682 | +53.6% |
| Trade debts | 44 | €22,637 | €37,390 | +€14,753 | +65.2% |
| Suppliers | 440/4 | €22,637 | €37,390 | +€14,753 | +65.2% |
| Advances received on contracts in progress | 46 | €200,000 | €0 | -€200,000 | -100% |
| Taxes, remuneration and social security | 45 | €131,716 | €284,176 | +€152,460 | +116% |
| Taxes | 450/3 | €131,716 | €284,176 | +€152,460 | +116% |
| Other amounts payable | 47/48 | €38,254 | €68,007 | +€29,753 | +77.8% |
| Non-recurring operating income | 76A | - | €9,638 | +€9,638 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,822 | €23,055 | +€233 | +1.0% |
| Other operating charges | 640/8 | €1,409 | €449 | -€960 | -68.2% |
| Non-recurring operating charges | 66A | - | €56,438 | +€56,438 | |
| Gross operating margin | 9900 | €373,077 | €641,643 | +€268,566 | +72.0% |
| Operating profit (loss) | 9901 | €348,847 | €561,702 | +€212,855 | +61.0% |
| Financial income | 75/76B | €5 | €6,756 | +€6,750 | +122,954% |
| Recurring financial income | 75 | €5 | €6,756 | +€6,750 | +122,954% |
| Financial charges | 65/66B | €3,616 | €15,784 | +€12,167 | +336% |
| Recurring financial charges | 65 | €3,616 | €15,784 | +€12,167 | +336% |
| Profit (loss) for the period before taxes | 9903 | €345,236 | €552,674 | +€207,438 | +60.1% |
| Income taxes | 67/77 | €98,636 | €147,841 | +€49,205 | +49.9% |
| Profit (loss) for the period | 9904 | €246,600 | €404,833 | +€158,233 | +64.2% |
| Profit (loss) for the period to be appropriated | 9905 | €246,600 | €404,833 | +€158,233 | +64.2% |
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 24 October 2026 via checked.be.