BEUTELS: 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.
BEUTELS
Largest movements
- Receivables after one year -€7,000
down €7,000 (-23.3%), from €30,000 to €23,000
- Receivables within one year -€3,094
down €3,094 (-6.6%), from €46,572 to €43,478
of which Trade receivables: -€10,115
- Stocks and contracts +€2,400
up €2,400 (+64.0%), from €3,750 to €6,150
- Cash -€1,167
down €1,167 (-24.3%), from €4,802 to €3,635
mainly Current portion of long-term debt (-€12,000) and Trade debts (-€9,480)
- Current portion of long-term debt -€12,000
no longer reported in 2025 (was €12,000)
- Trade debts -€9,480
down €9,480 (-26.0%), from €36,476 to €26,996
- Profit (loss) carried forward +€9,176
up €9,176 (+27.7%), from €33,110 to €42,286
- Tax, wage and social debts +€4,574
new in 2025: €4,574
of which Taxes: +€3,217
- Other debts -€1,233
no longer reported in 2025 (was €1,233)
- Gross operating margin -€29,165
down €29,165 (-69.9%), from €41,732 to €12,567
- Taxes -€5,953
down €5,953 (-69.7%), from €8,541 to €2,589
- Financial income -€764
down €764 (-99.9%), from €764 to €1
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 | €85,319 | €76,356 | -€8,962 | -10.5% |
| Fixed assets | 21/28 | €195 | €93 | -€102 | -52.2% |
| Tangible fixed assets | 22/27 | €195 | €93 | -€102 | -52.2% |
| Plant, machinery and equipment | 23 | €195 | €93 | -€102 | -52.2% |
| Current assets | 29/58 | €85,124 | €76,263 | -€8,861 | -10.4% |
| Amounts receivable after more than one year | 29 | €30,000 | €23,000 | -€7,000 | -23.3% |
| Other amounts receivable | 291 | €30,000 | €23,000 | -€7,000 | -23.3% |
| Stocks and contracts in progress | 3 | €3,750 | €6,150 | +€2,400 | +64.0% |
| Stocks | 30/36 | €3,750 | €6,150 | +€2,400 | +64.0% |
| Amounts receivable within one year | 40/41 | €46,572 | €43,478 | -€3,094 | -6.6% |
| Trade receivables | 40 | €42,531 | €32,416 | -€10,115 | -23.8% |
| Other amounts receivable | 41 | €4,041 | €11,062 | +€7,021 | +174% |
| Cash at bank and in hand | 54/58 | €4,802 | €3,635 | -€1,167 | -24.3% |
| Total equity and liabilities | 10/49 | €85,319 | €76,356 | -€8,962 | -10.5% |
| Equity | 10/15 | €35,610 | €44,786 | +€9,176 | +25.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,110 | €42,286 | +€9,176 | +27.7% |
| Amounts payable | 17/49 | €49,709 | €31,570 | -€18,139 | -36.5% |
| Amounts payable within one year | 42/48 | €49,709 | €31,570 | -€18,139 | -36.5% |
| Current portion of amounts payable after more than one year | 42 | €12,000 | - | -€12,000 | |
| Trade debts | 44 | €36,476 | €26,996 | -€9,480 | -26.0% |
| Suppliers | 440/4 | €36,476 | €26,996 | -€9,480 | -26.0% |
| Taxes, remuneration and social security | 45 | - | €4,574 | +€4,574 | |
| Taxes | 450/3 | - | €3,217 | +€3,217 | |
| Remuneration and social security | 454/9 | - | €1,357 | +€1,357 | |
| Other amounts payable | 47/48 | €1,233 | - | -€1,233 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110 | €102 | -€9 | -7.8% |
| Other operating charges | 640/8 | €573 | €448 | -€126 | -21.9% |
| Gross operating margin | 9900 | €41,732 | €12,567 | -€29,165 | -69.9% |
| Operating profit (loss) | 9901 | €41,048 | €12,018 | -€29,031 | -70.7% |
| Financial income | 75/76B | €764 | €1 | -€764 | -99.9% |
| Recurring financial income | 75 | €764 | €1 | -€764 | -99.9% |
| Financial charges | 65/66B | €162 | €253 | +€91 | +56.6% |
| Recurring financial charges | 65 | €162 | €253 | +€91 | +56.6% |
| Profit (loss) for the period before taxes | 9903 | €41,651 | €11,765 | -€29,886 | -71.8% |
| Income taxes | 67/77 | €8,541 | €2,589 | -€5,953 | -69.7% |
| Profit (loss) for the period | 9904 | €33,110 | €9,176 | -€23,934 | -72.3% |
| Profit (loss) for the period to be appropriated | 9905 | €33,110 | €9,176 | -€23,934 | -72.3% |
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 13 October 2026 via checked.be.