BELYZER: 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.
BELYZER
Largest movements
- Receivables within one year +€6,868
up €6,868 (+8.1%), from €85,081 to €91,949
of which Trade receivables: +€7,649
- Tangible fixed assets -€1,928
down €1,928 (-41.3%), from €4,664 to €2,736
of which Furniture and vehicles: -€1,667
- Profit (loss) carried forward +€3,310
up €3,310 (+222%), from €1,489 to €4,799
- Other debts -€2,347
down €2,347 (-21.7%), from €10,798 to €8,451
- Trade debts +€1,523
up €1,523 (+19.5%), from €7,829 to €9,352
- Accrued charges and deferred income +€1,231
up €1,231 (+1.9%), from €65,341 to €66,572
- Tax, wage and social debts +€1,217
new in 2025: €1,217
- Gross operating margin -€11,488
down €11,488 (-55.7%), from €20,624 to €9,136
- Financial charges +€975
up €975 (+157%), from €621 to €1,596
- Depreciation +€808
up €808 (+72.1%), from €1,120 to €1,928
- Other operating charges -€330
down €330 (-13.7%), from €2,407 to €2,076
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 | €112,045 | €116,978 | +€4,933 | +4.4% |
| Fixed assets | 21/28 | €5,179 | €3,251 | -€1,928 | -37.2% |
| Tangible fixed assets | 22/27 | €4,664 | €2,736 | -€1,928 | -41.3% |
| Plant, machinery and equipment | 23 | €696 | €435 | -€261 | -37.6% |
| Furniture and vehicles | 24 | €3,968 | €2,301 | -€1,667 | -42.0% |
| Financial fixed assets | 28 | €515 | €515 | = | 0.0% |
| Current assets | 29/58 | €106,866 | €113,727 | +€6,861 | +6.4% |
| Stocks and contracts in progress | 3 | €16,540 | €16,730 | +€190 | +1.1% |
| Stocks | 30/36 | €16,540 | €16,730 | +€190 | +1.1% |
| Amounts receivable within one year | 40/41 | €85,081 | €91,949 | +€6,868 | +8.1% |
| Trade receivables | 40 | €83,430 | €91,079 | +€7,649 | +9.2% |
| Other amounts receivable | 41 | €1,651 | €870 | -€781 | -47.3% |
| Cash at bank and in hand | 54/58 | €3,463 | €2,383 | -€1,080 | -31.2% |
| Deferred charges and accrued income | 490/1 | €1,782 | €2,665 | +€883 | +49.6% |
| Total equity and liabilities | 10/49 | €112,045 | €116,978 | +€4,933 | +4.4% |
| Equity | 10/15 | €28,077 | €31,387 | +€3,310 | +11.8% |
| Contributions | 10/11 | €12,403 | €12,403 | = | 0.0% |
| Reserves | 13 | €14,185 | €14,185 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,325 | €12,325 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,489 | €4,799 | +€3,310 | +222% |
| Amounts payable | 17/49 | €83,968 | €85,591 | +€1,624 | +1.9% |
| Amounts payable within one year | 42/48 | €18,627 | €19,020 | +€393 | +2.1% |
| Trade debts | 44 | €7,829 | €9,352 | +€1,523 | +19.5% |
| Suppliers | 440/4 | €7,829 | €9,352 | +€1,523 | +19.5% |
| Taxes, remuneration and social security | 45 | - | €1,217 | +€1,217 | |
| Taxes | 450/3 | - | €1,217 | +€1,217 | |
| Other amounts payable | 47/48 | €10,798 | €8,451 | -€2,347 | -21.7% |
| Accrued charges and deferred income | 492/3 | €65,341 | €66,572 | +€1,231 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,120 | €1,928 | +€808 | +72.1% |
| Other operating charges | 640/8 | €2,407 | €2,076 | -€330 | -13.7% |
| Gross operating margin | 9900 | €20,624 | €9,136 | -€11,488 | -55.7% |
| Operating profit (loss) | 9901 | €17,097 | €5,131 | -€11,966 | -70.0% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €621 | €1,596 | +€975 | +157% |
| Recurring financial charges | 65 | €621 | €1,596 | +€975 | +157% |
| Profit (loss) for the period before taxes | 9903 | €16,476 | €3,536 | -€12,940 | -78.5% |
| Income taxes | 67/77 | €222 | €226 | +€4 | +1.7% |
| Profit (loss) for the period | 9904 | €16,254 | €3,310 | -€12,944 | -79.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,254 | €3,310 | -€12,944 | -79.6% |
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 17 October 2026 via checked.be.