BELVENTE: 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.
BELVENTE
Largest movements
- Cash +€90,319
up €90,319 (+836%), from €10,805 to €101,124
mainly Short-term financial debts (+€67,899) and Trade debts (+€19,501)
- Tangible fixed assets -€9,624
down €9,624 (-3.5%), from €272,480 to €262,855
of which Land and buildings: -€8,828
- Short-term financial debts +€67,899
up €67,899 (+54.3%), from €125,000 to €192,899
- Trade debts +€19,501
up €19,501 (+11.8%), from €164,892 to €184,393
- Debts after one year -€9,900
down €9,900 (-4.5%), from €221,690 to €211,790
- Tax, wage and social debts +€9,328
up €9,328 (+73.7%), from €12,653 to €21,981
of which Taxes: +€6,801
- Turnover -€117,487
down €117,487 (-7.7%), from €1.5m to €1.4m
- Purchases and services -€109,215
down €109,215 (-7.5%), from €1.5m to €1.3m
- Gross operating margin -€20,226
down €20,226 (-22.7%), from €89,099 to €68,874
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 | €822,437 | €909,343 | +€86,907 | +10.6% |
| Fixed assets | 21/28 | €272,480 | €262,855 | -€9,624 | -3.5% |
| Tangible fixed assets | 22/27 | €272,480 | €262,855 | -€9,624 | -3.5% |
| Land and buildings | 22 | €269,714 | €260,886 | -€8,828 | -3.3% |
| Plant, machinery and equipment | 23 | €2,766 | €1,969 | -€797 | -28.8% |
| Current assets | 29/58 | €549,957 | €646,488 | +€96,531 | +17.6% |
| Stocks and contracts in progress | 3 | €522,051 | €526,272 | +€4,221 | +0.8% |
| Stocks | 30/36 | €522,051 | €526,272 | +€4,221 | +0.8% |
| Amounts receivable within one year | 40/41 | €17,101 | €19,091 | +€1,990 | +11.6% |
| Trade receivables | 40 | €2,463 | €4,762 | +€2,299 | +93.3% |
| Other amounts receivable | 41 | €14,638 | €14,329 | -€309 | -2.1% |
| Cash at bank and in hand | 54/58 | €10,805 | €101,124 | +€90,319 | +836% |
| Total equity and liabilities | 10/49 | €822,437 | €909,343 | +€86,907 | +10.6% |
| Equity | 10/15 | €275,174 | €281,196 | +€6,022 | +2.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Contributions outside capital | 11 | €18,550 | €18,550 | = | 0.0% |
| Other | 1109/19 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €256,624 | €262,646 | +€6,022 | +2.3% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Other | 1319 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €254,769 | €260,791 | +€6,022 | +2.4% |
| Amounts payable | 17/49 | €547,262 | €628,147 | +€80,885 | +14.8% |
| Amounts payable after more than one year | 17 | €221,690 | €211,790 | -€9,900 | -4.5% |
| Financial debts | 170/4 | €221,690 | €211,790 | -€9,900 | -4.5% |
| Amounts payable within one year | 42/48 | €325,572 | €416,357 | +€90,785 | +27.9% |
| Current portion of amounts payable after more than one year | 42 | €15,753 | €9,900 | -€5,853 | -37.2% |
| Financial debts | 43 | €125,000 | €192,899 | +€67,899 | +54.3% |
| Other loans | 439 | €125,000 | €192,899 | +€67,899 | +54.3% |
| Trade debts | 44 | €164,892 | €184,393 | +€19,501 | +11.8% |
| Suppliers | 440/4 | €164,892 | €184,393 | +€19,501 | +11.8% |
| Taxes, remuneration and social security | 45 | €12,653 | €21,981 | +€9,328 | +73.7% |
| Taxes | 450/3 | €145 | €6,946 | +€6,801 | +4,701% |
| Remuneration and social security | 454/9 | €12,508 | €15,035 | +€2,526 | +20.2% |
| Other amounts payable | 47/48 | €7,274 | €7,183 | -€91 | -1.2% |
| Turnover | 70 | €1,527,214 | €1,409,726 | -€117,487 | -7.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,450,068 | €1,340,853 | -€109,215 | -7.5% |
| Remuneration, social security and pensions | 62 | €61,787 | €46,822 | -€14,966 | -24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,948 | €9,622 | +€674 | +7.5% |
| Other operating charges | 640/8 | €1,454 | €1,098 | -€356 | -24.5% |
| Gross operating margin | 9900 | €89,099 | €68,874 | -€20,226 | -22.7% |
| Operating profit (loss) | 9901 | €16,910 | €11,333 | -€5,577 | -33.0% |
| Financial income | 75/76B | €5 | €4,095 | +€4,091 | +86,850% |
| Recurring financial income | 75 | €5 | €4,095 | +€4,091 | +86,850% |
| Financial charges | 65/66B | €12,566 | €6,966 | -€5,600 | -44.6% |
| Recurring financial charges | 65 | €12,566 | €6,966 | -€5,600 | -44.6% |
| Profit (loss) for the period before taxes | 9903 | €4,349 | €8,462 | +€4,114 | +94.6% |
| Income taxes | 67/77 | €2,619 | €2,440 | -€178 | -6.8% |
| Profit (loss) for the period | 9904 | €1,730 | €6,022 | +€4,292 | +248% |
| Profit (loss) for the period to be appropriated | 9905 | €1,730 | €6,022 | +€4,292 | +248% |
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 15 October 2026 via checked.be.