BELUX GROUP: 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 GROUP
Largest movements
- Stocks and contracts -€22,692
down €22,692 (-23.1%), from €98,372 to €75,681
- Deferred charges and accrued income -€2,007
down €2,007 (-98.4%), from €2,041 to €34
- Cash -€1,795
down €1,795 (-13.0%), from €13,759 to €11,963
mainly Net result for the year (-€38,096) and Tax, wage and social debts (-€3,819)
- Receivables within one year -€1,793
down €1,793 (-26.4%), from €6,782 to €4,989
of which Trade receivables: -€1,700
- Profit (loss) carried forward -€22,539
new in 2025: -€22,539
- Reserves -€15,557
no longer reported in 2025 (was €15,557)
- Short-term financial debts +€10,000
up €10,000 (+50.0%), from €20,000 to €30,000
- Other debts +€4,952
up €4,952 (+8.2%), from €60,401 to €65,353
- Tax, wage and social debts -€3,819
no longer reported in 2025 (was €3,819)
- Gross operating margin -€13,164
down €13,164 (-64.2%), from -€20,509 to -€33,673
- Other operating charges -€4,645
down €4,645 (-71.5%), from €6,501 to €1,856
- Financial charges +€1,195
up €1,195 (+95.2%), from €1,255 to €2,451
- Depreciation -€522
down €522 (-70.6%), from €739 to €217
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.
Cash bridge derived
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 | €126,148 | €97,644 | -€28,504 | -22.6% |
| Fixed assets | 21/28 | €5,195 | €4,978 | -€217 | -4.2% |
| Tangible fixed assets | 22/27 | €245 | €28 | -€217 | -88.6% |
| Plant, machinery and equipment | 23 | €245 | €28 | -€217 | -88.6% |
| Financial fixed assets | 28 | €4,950 | €4,950 | = | 0.0% |
| Current assets | 29/58 | €120,954 | €92,667 | -€28,287 | -23.4% |
| Stocks and contracts in progress | 3 | €98,372 | €75,681 | -€22,692 | -23.1% |
| Stocks | 30/36 | €98,372 | €75,681 | -€22,692 | -23.1% |
| Amounts receivable within one year | 40/41 | €6,782 | €4,989 | -€1,793 | -26.4% |
| Trade receivables | 40 | €4,300 | €2,600 | -€1,700 | -39.5% |
| Other amounts receivable | 41 | €2,482 | €2,389 | -€93 | -3.7% |
| Cash at bank and in hand | 54/58 | €13,759 | €11,963 | -€1,795 | -13.0% |
| Deferred charges and accrued income | 490/1 | €2,041 | €34 | -€2,007 | -98.4% |
| Total equity and liabilities | 10/49 | €126,148 | €97,644 | -€28,504 | -22.6% |
| Equity | 10/15 | €36,757 | -€1,339 | -€38,096 | |
| Contributions | 10/11 | €21,200 | €21,200 | = | 0.0% |
| Reserves | 13 | €15,557 | - | -€15,557 | |
| Distributable reserves | 133 | €15,557 | - | -€15,557 | |
| Profit (loss) carried forward | 14 | - | -€22,539 | -€22,539 | |
| Amounts payable | 17/49 | €89,391 | €98,983 | +€9,592 | +10.7% |
| Amounts payable within one year | 42/48 | €89,391 | €98,983 | +€9,592 | +10.7% |
| Financial debts | 43 | €20,000 | €30,000 | +€10,000 | +50.0% |
| Credit institutions | 430/8 | €20,000 | €30,000 | +€10,000 | +50.0% |
| Trade debts | 44 | €5,171 | €3,630 | -€1,541 | -29.8% |
| Suppliers | 440/4 | €5,171 | €3,630 | -€1,541 | -29.8% |
| Taxes, remuneration and social security | 45 | €3,819 | - | -€3,819 | |
| Taxes | 450/3 | €3,819 | - | -€3,819 | |
| Other amounts payable | 47/48 | €60,401 | €65,353 | +€4,952 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €739 | €217 | -€522 | -70.6% |
| Other operating charges | 640/8 | €6,501 | €1,856 | -€4,645 | -71.5% |
| Gross operating margin | 9900 | -€20,509 | -€33,673 | -€13,164 | -64.2% |
| Operating profit (loss) | 9901 | -€27,748 | -€35,745 | -€7,997 | -28.8% |
| Financial income | 75/76B | €346 | €100 | -€246 | -71.1% |
| Recurring financial income | 75 | €346 | €100 | -€246 | -71.1% |
| Financial charges | 65/66B | €1,255 | €2,451 | +€1,195 | +95.2% |
| Recurring financial charges | 65 | €1,255 | €2,451 | +€1,195 | +95.2% |
| Profit (loss) for the period before taxes | 9903 | -€28,658 | -€38,096 | -€9,438 | -32.9% |
| Profit (loss) for the period | 9904 | -€28,658 | -€38,096 | -€9,438 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,658 | -€38,096 | -€9,438 | -32.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.