BELUX CONCEPT: 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.
BELUX CONCEPT
Largest movements
- Receivables within one year +€156,271
up €156,271 (+75.2%), from €207,809 to €364,080
of which Trade receivables: +€127,361
- Stocks and contracts +€10,000
up €10,000 (+189%), from €5,289 to €15,289
- Tangible fixed assets +€5,278
up €5,278 (+17.9%), from €29,533 to €34,811
of which Furniture and vehicles: +€12,416
- Trade debts +€130,083
up €130,083 (+175%), from €74,542 to €204,625
- Advances received +€58,802
up €58,802 (+490%), from €12,000 to €70,802
- Debts after one year -€10,527
down €10,527 (-14.1%), from €74,504 to €63,977
of which Financial debts: -€6,539
- Tax, wage and social debts -€9,119
down €9,119 (-80.2%), from €11,373 to €2,254
of which Remuneration and social security: -€9,550
- Other debts +€6,814
new in 2025: €6,814
- Provisions -€16,792
down €16,792, from €13,467 to -€3,325
- Gross operating margin -€4,883
down €4,883 (-12.4%), from €39,281 to €34,398
- Financial charges +€2,898
up €2,898 (+933%), from €311 to €3,209
- Staff costs +€2,065
up €2,065 (+17.9%), from €11,549 to €13,614
- Other operating charges +€1,236
up €1,236 (+57.6%), from €2,146 to €3,382
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 | €297,570 | €471,869 | +€174,299 | +58.6% |
| Fixed assets | 21/28 | €36,566 | €41,843 | +€5,278 | +14.4% |
| Tangible fixed assets | 22/27 | €29,533 | €34,811 | +€5,278 | +17.9% |
| Furniture and vehicles | 24 | €979 | €13,395 | +€12,416 | +1,269% |
| Leasing and similar rights | 25 | €28,554 | €21,416 | -€7,139 | -25.0% |
| Financial fixed assets | 28 | €7,033 | €7,033 | = | 0.0% |
| Current assets | 29/58 | €261,004 | €430,026 | +€169,022 | +64.8% |
| Stocks and contracts in progress | 3 | €5,289 | €15,289 | +€10,000 | +189% |
| Stocks | 30/36 | €5,289 | €15,289 | +€10,000 | +189% |
| Amounts receivable within one year | 40/41 | €207,809 | €364,080 | +€156,271 | +75.2% |
| Trade receivables | 40 | €203,304 | €330,665 | +€127,361 | +62.6% |
| Other amounts receivable | 41 | €4,505 | €33,415 | +€28,910 | +642% |
| Cash at bank and in hand | 54/58 | €46,202 | €49,787 | +€3,585 | +7.8% |
| Deferred charges and accrued income | 490/1 | €1,705 | €871 | -€834 | -48.9% |
| Total equity and liabilities | 10/49 | €297,570 | €471,869 | +€174,299 | +58.6% |
| Equity | 10/15 | €73,956 | €75,559 | +€1,602 | +2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,760 | €7,760 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,900 | €5,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,596 | €49,199 | +€1,602 | +3.4% |
| Provisions and deferred taxes | 16 | €44,625 | €41,300 | -€3,325 | -7.5% |
| Provisions for liabilities and charges | 160/5 | €44,625 | €41,300 | -€3,325 | -7.5% |
| Other liabilities and charges | 164/5 | €44,625 | €41,300 | -€3,325 | -7.5% |
| Amounts payable | 17/49 | €178,989 | €355,011 | +€176,022 | +98.3% |
| Amounts payable after more than one year | 17 | €74,504 | €63,977 | -€10,527 | -14.1% |
| Financial debts | 170/4 | €28,027 | €21,488 | -€6,539 | -23.3% |
| Other amounts payable | 178/9 | €46,477 | €42,489 | -€3,988 | -8.6% |
| Amounts payable within one year | 42/48 | €104,189 | €291,034 | +€186,844 | +179% |
| Current portion of amounts payable after more than one year | 42 | €6,274 | €6,539 | +€264 | +4.2% |
| Trade debts | 44 | €74,542 | €204,625 | +€130,083 | +175% |
| Suppliers | 440/4 | €74,542 | €204,625 | +€130,083 | +175% |
| Advances received on contracts in progress | 46 | €12,000 | €70,802 | +€58,802 | +490% |
| Taxes, remuneration and social security | 45 | €11,373 | €2,254 | -€9,119 | -80.2% |
| Taxes | 450/3 | €942 | €1,373 | +€431 | +45.8% |
| Remuneration and social security | 454/9 | €10,431 | €881 | -€9,550 | -91.6% |
| Other amounts payable | 47/48 | - | €6,814 | +€6,814 | |
| Accrued charges and deferred income | 492/3 | €296 | - | -€296 | |
| Remuneration, social security and pensions | 62 | €11,549 | €13,614 | +€2,065 | +17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,628 | €8,837 | +€1,209 | +15.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €13,467 | -€3,325 | -€16,792 | |
| Other operating charges | 640/8 | €2,146 | €3,382 | +€1,236 | +57.6% |
| Non-recurring operating charges | 66A | - | €5,500 | +€5,500 | |
| Gross operating margin | 9900 | €39,281 | €34,398 | -€4,883 | -12.4% |
| Operating profit (loss) | 9901 | €4,492 | €6,390 | +€1,898 | +42.3% |
| Financial charges | 65/66B | €311 | €3,209 | +€2,898 | +933% |
| Recurring financial charges | 65 | €311 | €3,209 | +€2,898 | +933% |
| Profit (loss) for the period before taxes | 9903 | €4,181 | €3,181 | -€1,000 | -23.9% |
| Income taxes | 67/77 | €1,249 | €1,579 | +€329 | +26.4% |
| Profit (loss) for the period | 9904 | €2,931 | €1,602 | -€1,329 | -45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,931 | €1,602 | -€1,329 | -45.3% |
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 16 October 2026 via checked.be.