BELVLAD: 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.
BELVLAD
Largest movements
- Cash +€3,161
up €3,161 (+232.9%), from €1,357 to €4,518
mainly Net result for the year (+€5,968) and Depreciation (+€989)
- Receivables within one year +€2,187
up €2,187 (+26.3%), from €8,315 to €10,501
of which Trade receivables: +€1,270
- Profit (loss) carried forward +€5,968
up €5,968 (+65.5%), from €9,110 to €15,078
- Trade debts -€951
down €951 (-56.3%), from €1,689 to €738
- Tax, wage and social debts +€453
up €453 (+43.6%), from €1,039 to €1,492
- Turnover +€21,142
up €21,142 (+36.6%), from €57,798 to €78,940
- Purchases and services +€18,793
up €18,793 (+37.0%), from €50,774 to €69,567
- Gross operating margin +€2,388
up €2,388 (+33.3%), from €7,180 to €9,568
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 | €12,337 | €17,807 | +€5,470 | +44.3% |
| Fixed assets | 21/28 | €2,428 | €2,499 | +€71 | +2.9% |
| Tangible fixed assets | 22/27 | €2,428 | €2,499 | +€71 | +2.9% |
| Plant, machinery and equipment | 23 | €1,829 | €2,175 | +€346 | +18.9% |
| Furniture and vehicles | 24 | €599 | €324 | -€275 | -45.9% |
| Current assets | 29/58 | €9,909 | €15,308 | +€5,399 | +54.5% |
| Amounts receivable within one year | 40/41 | €8,315 | €10,501 | +€2,187 | +26.3% |
| Trade receivables | 40 | €4,710 | €5,980 | +€1,270 | +27.0% |
| Other amounts receivable | 41 | €3,605 | €4,521 | +€917 | +25.4% |
| Cash at bank and in hand | 54/58 | €1,357 | €4,518 | +€3,161 | +232.9% |
| Deferred charges and accrued income | 490/1 | €237 | €289 | +€52 | +22.0% |
| Total equity and liabilities | 10/49 | €12,337 | €17,807 | +€5,470 | +44.3% |
| Equity | 10/15 | €9,610 | €15,578 | +€5,968 | +62.1% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,110 | €15,078 | +€5,968 | +65.5% |
| Amounts payable | 17/49 | €2,728 | €2,230 | -€498 | -18.3% |
| Amounts payable within one year | 42/48 | €2,728 | €2,230 | -€498 | -18.3% |
| Trade debts | 44 | €1,689 | €738 | -€951 | -56.3% |
| Suppliers | 440/4 | €1,689 | €738 | -€951 | -56.3% |
| Taxes, remuneration and social security | 45 | €1,039 | €1,492 | +€453 | +43.6% |
| Taxes | 450/3 | €1,039 | €1,492 | +€453 | +43.6% |
| Turnover | 70 | €57,798 | €78,940 | +€21,142 | +36.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €50,774 | €69,567 | +€18,793 | +37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €605 | €989 | +€384 | +63.4% |
| Gross operating margin | 9900 | €7,180 | €9,568 | +€2,388 | +33.3% |
| Operating profit (loss) | 9901 | €6,575 | €8,579 | +€2,004 | +30.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | €1,214 | €1,119 | -€95 | -7.8% |
| Recurring financial charges | 65 | €1,214 | €1,119 | -€95 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €5,361 | €7,460 | +€2,099 | +39.2% |
| Income taxes | 67/77 | €1,039 | €1,492 | +€453 | +43.6% |
| Profit (loss) for the period | 9904 | €4,322 | €5,968 | +€1,646 | +38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,322 | €5,968 | +€1,646 | +38.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.