BELVEN: 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.
What changed
BELVEN
NACE 46.620, Wholesale of machine tools
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.4m
2024 · €2.2m+€1.3m
Equity
€8.7m
2024 · €5.9m+€2.8m
Cash
€2.9m
2024 · €1.6m+€1.4m
Balance sheet total
€13.3m
2024 · €10.4m+€2.9m
Largest movements
Assets
- Cash +€1.4m
up €1.4m (+87.2%), from €1.6m to €2.9m
mainly Net result for the year (+€3.4m) and Receivables within one year (+€475,858)
- Current investments +€1.3m
up €1.3m (+58.1%), from €2.2m to €3.4m
- Stocks and contracts +€796,755
up €796,755 (+21.5%), from €3.7m to €4.5m
- Receivables within one year -€475,858
down €475,858 (-25.1%), from €1.9m to €1.4m
of which Trade receivables: -€501,926
Equity and liabilities
- Reserves +€2.8m
up €2.8m (+53.0%), from €5.3m to €8.2m
of which Distributable reserves: +€2.8m
- Short-term financial debts +€201,640
new in 2025: €201,640
- Other debts +€156,431
up €156,431 (+15.0%), from €1.0m to €1.2m
Income statement
- Turnover +€3.7m
up €3.7m (+25.1%), from €14.7m to €18.4m
- Goods and materials +€1.8m
up €1.8m (+23.4%), from €7.6m to €9.4m
of which Purchases: +€2.3m
- Taxes +€349,336
up €349,336 (+57.5%), from €607,953 to €957,289
of which Taxes: +€353,689
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.
Result 2024
€2.2m
Turnover
+€3.7m
Other operating income
+€38,739
Goods and materials
-€1.8m
Services and other goods
-€26,077
Staff costs
-€136,888
Depreciation
-€797
Write-downs
-€21,237
Other operating charges
-€30,688
Other operating items
-€3,620
Financial income
+€12,275
Financial charges
-€129,301
Taxes
-€349,336
Result 2025
€3.4m
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.
From operations
+€3.0m
Investment
-€1.3m
Financing
-€398,360
Cash 2024
€1.6m
From operations (derived)
+€3.0m
Net result for the year
+€3.4m
Depreciation
+€48,713
Stocks and contracts
-€796,755
Receivables within one year
+€475,858
Deferred charges and accrued income
-€57,525
Trade debts
-€16,450
Tax, wage and social debts
-€22,676
Advances received
-€80,000
Other debts
+€156,431
Accrued charges and deferred income
-€130,977
Investment (derived)
-€1.3m
Investment in fixed assets (net)
-€2,938
Current investments
-€1.3m
Financing
-€398,360
Short-term financial debts
+€201,640
Contributions, distributions and other
-€600,000
Cash 2025
€2.9m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,373,600 | €13,313,522 | +€2.9m | +28.3% |
| Fixed assets | 21/28 | €131,573 | €85,798 | -€45,775 | -34.8% |
| Tangible fixed assets | 22/27 | €131,573 | €85,798 | -€45,775 | -34.8% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €1,050 | €0 | -€1,050 | -100.0% |
| Furniture and vehicles | 24 | €130,523 | €85,798 | -€44,725 | -34.3% |
| Current assets | 29/58 | €10,242,027 | €13,227,724 | +€3.0m | +29.2% |
| Amounts receivable after more than one year | 29 | €850,000 | €850,000 | = | 0.0% |
| Other amounts receivable | 291 | €850,000 | €850,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €3,704,164 | €4,500,919 | +€796,755 | +21.5% |
| Stocks | 30/36 | €3,704,164 | €4,500,919 | +€796,755 | +21.5% |
| Goods purchased for resale | 34 | €3,704,164 | €4,243,499 | +€539,334 | +14.6% |
| Advance payments | 36 | - | €257,421 | +€257,421 | |
| Amounts receivable within one year | 40/41 | €1,895,858 | €1,420,000 | -€475,858 | -25.1% |
| Trade receivables | 40 | €1,827,491 | €1,325,565 | -€501,926 | -27.5% |
| Other amounts receivable | 41 | €68,367 | €94,435 | +€26,069 | +38.1% |
| Current investments | 50/53 | €2,150,000 | €3,400,000 | +€1.3m | +58.1% |
| Other investments | 51/53 | €2,150,000 | €3,400,000 | +€1.3m | +58.1% |
| Cash at bank and in hand | 54/58 | €1,555,723 | €2,912,998 | +€1.4m | +87.2% |
| Deferred charges and accrued income | 490/1 | €86,281 | €143,806 | +€57,525 | +66.7% |
| Total equity and liabilities | 10/49 | €10,373,600 | €13,313,522 | +€2.9m | +28.3% |
| Equity | 10/15 | €5,905,137 | €8,737,091 | +€2.8m | +48.0% |
| Contributions | 10/11 | €559,000 | €559,000 | = | 0.0% |
| Capital | 10 | €559,000 | €559,000 | = | 0.0% |
| Issued capital | 100 | €559,000 | €559,000 | = | 0.0% |
| Reserves | 13 | €5,346,137 | €8,178,091 | +€2.8m | +53.0% |
| Non-distributable reserves | 130/1 | €905,900 | €905,900 | = | 0.0% |
| Legal reserve | 130 | €55,900 | €55,900 | = | 0.0% |
| Financial assistance | 1313 | €850,000 | €850,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,466 | €2,466 | = | 0.0% |
| Distributable reserves | 133 | €4,437,772 | €7,269,725 | +€2.8m | +63.8% |
| Amounts payable | 17/49 | €4,468,462 | €4,576,431 | +€107,968 | +2.4% |
| Amounts payable within one year | 42/48 | €4,073,778 | €4,312,724 | +€238,946 | +5.9% |
| Financial debts | 43 | - | €201,640 | +€201,640 | |
| Credit institutions | 430/8 | - | €201,640 | +€201,640 | |
| Trade debts | 44 | €2,235,160 | €2,218,709 | -€16,450 | -0.7% |
| Suppliers | 440/4 | €2,235,160 | €2,218,709 | -€16,450 | -0.7% |
| Advances received on contracts in progress | 46 | €113,500 | €33,500 | -€80,000 | -70.5% |
| Taxes, remuneration and social security | 45 | €681,873 | €659,197 | -€22,676 | -3.3% |
| Taxes | 450/3 | €216,056 | €129,316 | -€86,740 | -40.1% |
| Remuneration and social security | 454/9 | €465,818 | €529,882 | +€64,064 | +13.8% |
| Other amounts payable | 47/48 | €1,043,245 | €1,199,676 | +€156,431 | +15.0% |
| Accrued charges and deferred income | 492/3 | €394,685 | €263,707 | -€130,977 | -33.2% |
| Operating income | 70/76A | €14,838,286 | €18,574,305 | +€3.7m | +25.2% |
| Turnover | 70 | €14,748,367 | €18,449,266 | +€3.7m | +25.1% |
| Other operating income | 74 | €78,155 | €116,894 | +€38,739 | +49.6% |
| Non-recurring operating income | 76A | €11,765 | €8,145 | -€3,620 | -30.8% |
| Operating charges | 60/66A | €12,153,160 | €14,145,830 | +€2.0m | +16.4% |
| Goods for resale, raw materials and consumables | 60 | €7,581,459 | €9,358,442 | +€1.8m | +23.4% |
| Purchases | 600/8 | €7,557,113 | €9,897,777 | +€2.3m | +31.0% |
| Change in stocks: decrease (increase) | 609 | €24,346 | -€539,334 | -€563,681 | |
| Services and other goods | 61 | €2,029,042 | €2,055,119 | +€26,077 | +1.3% |
| Remuneration, social security and pensions | 62 | €2,504,323 | €2,641,212 | +€136,888 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,917 | €48,713 | +€797 | +1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€18,891 | €2,346 | +€21,237 | |
| Other operating charges | 640/8 | €9,311 | €39,999 | +€30,688 | +329.6% |
| Operating profit (loss) | 9901 | €2,685,126 | €4,428,474 | +€1.7m | +64.9% |
| Financial income | 75/76B | €96,156 | €108,431 | +€12,275 | +12.8% |
| Recurring financial income | 75 | €96,156 | €108,431 | +€12,275 | +12.8% |
| Income from financial fixed assets | 750 | €2,219 | €0 | -€2,219 | -100.0% |
| Income from current assets | 751 | €44,615 | €79,352 | +€34,737 | +77.9% |
| Other financial income | 752/9 | €49,322 | €29,079 | -€20,243 | -41.0% |
| Financial charges | 65/66B | €18,362 | €147,662 | +€129,301 | +704.2% |
| Recurring financial charges | 65 | €18,362 | €147,662 | +€129,301 | +704.2% |
| Debt charges | 650 | €1 | €6,991 | +€6,990 | +559168.0% |
| Other financial charges | 652/9 | €18,360 | €140,672 | +€122,311 | +666.2% |
| Profit (loss) for the period before taxes | 9903 | €2,762,920 | €4,389,243 | +€1.6m | +58.9% |
| Income taxes | 67/77 | €607,953 | €957,289 | +€349,336 | +57.5% |
| Taxes | 670/3 | €607,953 | €961,642 | +€353,689 | +58.2% |
| Tax adjustments and reversals of tax provisions | 77 | - | €4,353 | +€4,353 | |
| Profit (loss) for the period | 9904 | €2,154,967 | €3,431,953 | +€1.3m | +59.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,154,967 | €3,431,953 | +€1.3m | +59.3% |
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 11 October 2026 via checked.be.