Certis Belchim: what changed
What changed
Certis Belchim
NACE 46.852, Wholesale trade
filed annual accounts (NBB)
Net result for the year
€18.7m
2025 · -€8.6m+€27.3m
Equity
€101.7m
2025 · €123.0m-€21.3m
Cash
€198,629
2025 · €387,695-€189,066
Balance sheet total
€127.4m
2025 · €142.3m-€14.9m
Largest movements
Assets
- Financial fixed assets -€24.9m
no longer reported in 2026 (was €24.9m)
- Receivables within one year +€16.4m
up €16.4m (+19.6%), from €83.6m to €100.0m
of which Trade receivables: +€15.3m
- Intangible fixed assets -€5.9m
down €5.9m (-31.2%), from €19.1m to €13.1m
- Receivables after one year -€3.2m
no longer reported in 2026 (was €3.2m)
- Stocks and contracts +€2.9m
up €2.9m (+27.8%), from €10.6m to €13.5m
Equity and liabilities
- Reserves -€21.3m
down €21.3m (-28.8%), from €74.0m to €52.7m
of which Distributable reserves: -€20.6m
- Other debts +€4.7m
new in 2026: €4.7m
Income statement
- Financial charges -€39.8m
down €39.8m (-98.2%), from €40.5m to €730,014
of which Non-recurring financial charges: -€40.0m
- Financial income -€17.7m
down €17.7m (-61.5%), from €28.9m to €11.1m
of which Financial income: -€26.6m
- Taxes -€4.2m
down €4.2m, from €4.0m to -€220,464
of which Taxes: -€4.8m
- Other operating income -€3.4m
down €3.4m (-18.2%), from €18.4m to €15.0m
- Write-downs -€2.2m
down €2.2m (-81.2%), from €2.8m to €516,395
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
-€8.6m
Turnover
+€708,247
Other operating income
-€3.4m
Goods and materials
+€763,442
Services and other goods
-€1.0m
Staff costs
-€315,502
Depreciation
+€2.2m
Write-downs
+€2.2m
Other operating items
-€121,407
Financial income
-€17.7m
Financial charges
+€39.8m
Taxes
+€4.2m
Result 2026
€18.7m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€15.0m
Investment
+€24.8m
Financing
-€40.0m
Cash 2025
€387,695
From operations (derived)
+€15.0m
Net result for the year
+€18.7m
Depreciation
+€6.1m
Receivables after one year
+€3.2m
Stocks and contracts
-€2.9m
Receivables within one year
-€16.4m
Trade debts
+€796,554
Tax, wage and social debts
+€911,835
Other debts
+€4.7m
Investment (derived)
+€24.8m
Investment in fixed assets (net)
+€24.8m
Financing
-€40.0m
Contributions, distributions and other
-€40.0m
Cash 2026
€198,629
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €142,282,145 | €127,390,287 | -€14.9m | -10.5% |
| Fixed assets | 21/28 | €44,550,331 | €13,667,235 | -€30.9m | -69.3% |
| Intangible fixed assets | 21 | €19,058,461 | €13,114,539 | -€5.9m | -31.2% |
| Tangible fixed assets | 22/27 | €604,192 | €552,696 | -€51,496 | -8.5% |
| Plant, machinery and equipment | 23 | €128,666 | €415,656 | +€286,989 | +223% |
| Furniture and vehicles | 24 | €475,525 | €137,041 | -€338,485 | -71.2% |
| Financial fixed assets | 28 | €24,887,678 | - | -€24.9m | |
| Affiliated companies | 280/1 | €24,887,678 | - | -€24.9m | |
| Participating interests | 280 | €24,887,678 | - | -€24.9m | |
| Current assets | 29/58 | €97,731,814 | €113,723,052 | +€16.0m | +16.4% |
| Amounts receivable after more than one year | 29 | €3,177,852 | - | -€3.2m | |
| Other amounts receivable | 291 | €3,177,852 | - | -€3.2m | |
| Stocks and contracts in progress | 3 | €10,567,723 | €13,504,612 | +€2.9m | +27.8% |
| Stocks | 30/36 | €10,567,723 | €13,504,612 | +€2.9m | +27.8% |
| Goods purchased for resale | 34 | €10,567,723 | €13,504,612 | +€2.9m | +27.8% |
| Amounts receivable within one year | 40/41 | €83,598,544 | €100,019,811 | +€16.4m | +19.6% |
| Trade receivables | 40 | €40,995,198 | €56,337,858 | +€15.3m | +37.4% |
| Other amounts receivable | 41 | €42,603,347 | €43,681,954 | +€1.1m | +2.5% |
| Cash at bank and in hand | 54/58 | €387,695 | €198,629 | -€189,066 | -48.8% |
| Total equity and liabilities | 10/49 | €142,282,145 | €127,390,287 | -€14.9m | -10.5% |
| Equity | 10/15 | €122,990,343 | €101,690,096 | -€21.3m | -17.3% |
| Contributions | 10/11 | €49,000,000 | €49,000,000 | = | 0.0% |
| Capital | 10 | €4,003,000 | €4,003,000 | = | 0.0% |
| Issued capital | 100 | €4,003,000 | €4,003,000 | = | 0.0% |
| Contributions outside capital | 11 | €44,997,000 | €44,997,000 | = | 0.0% |
| Share premium | 1100/10 | €44,997,000 | €44,997,000 | = | 0.0% |
| Reserves | 13 | €73,990,343 | €52,690,096 | -€21.3m | -28.8% |
| Non-distributable reserves | 130/1 | €400,000 | €400,000 | = | 0.0% |
| Legal reserve | 130 | €400,000 | €400,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €749,999 | - | -€749,999 | |
| Distributable reserves | 133 | €72,840,344 | €52,290,096 | -€20.6m | -28.2% |
| Amounts payable | 17/49 | €19,291,803 | €25,700,192 | +€6.4m | +33.2% |
| Amounts payable within one year | 42/48 | €19,291,803 | €25,700,192 | +€6.4m | +33.2% |
| Trade debts | 44 | €15,381,998 | €16,178,552 | +€796,554 | +5.2% |
| Suppliers | 440/4 | €15,381,998 | €16,178,552 | +€796,554 | +5.2% |
| Taxes, remuneration and social security | 45 | €3,909,805 | €4,821,639 | +€911,835 | +23.3% |
| Taxes | 450/3 | - | €251,233 | +€251,233 | |
| Remuneration and social security | 454/9 | €3,909,805 | €4,570,406 | +€660,602 | +16.9% |
| Other amounts payable | 47/48 | - | €4,700,000 | +€4.7m | |
| Operating income | 70/76A | €86,149,969 | €83,501,262 | -€2.6m | -3.1% |
| Turnover | 70 | €67,753,504 | €68,461,751 | +€708,247 | +1.0% |
| Other operating income | 74 | €18,396,466 | €15,039,512 | -€3.4m | -18.2% |
| Operating charges | 60/66A | €79,110,358 | €75,411,372 | -€3.7m | -4.7% |
| Goods for resale, raw materials and consumables | 60 | €47,374,897 | €46,611,455 | -€763,442 | -1.6% |
| Purchases | 600/8 | €47,374,897 | €46,611,455 | -€763,442 | -1.6% |
| Services and other goods | 61 | €6,855,478 | €7,883,150 | +€1.0m | +15.0% |
| Remuneration, social security and pensions | 62 | €13,830,789 | €14,146,291 | +€315,502 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,285,089 | €6,120,336 | -€2.2m | -26.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,751,767 | €516,395 | -€2.2m | -81.2% |
| Non-recurring operating charges | 66A | €12,338 | €133,746 | +€121,407 | +984% |
| Operating profit (loss) | 9901 | €7,039,611 | €8,089,891 | +€1.1m | +14.9% |
| Financial income | 75/76B | €28,854,772 | €11,119,413 | -€17.7m | -61.5% |
| Recurring financial income | 75 | €27,061,971 | €454,254 | -€26.6m | -98.3% |
| Income from financial fixed assets | 750 | €25,965,431 | - | -€26.0m | |
| Income from current assets | 751 | €225,018 | €413,870 | +€188,852 | +83.9% |
| Other financial income | 752/9 | €871,522 | €40,384 | -€831,138 | -95.4% |
| Non-recurring financial income | 76B | €1,792,801 | €10,665,159 | +€8.9m | +495% |
| Financial charges | 65/66B | €40,496,488 | €730,014 | -€39.8m | -98.2% |
| Recurring financial charges | 65 | €470,449 | €697,689 | +€227,240 | +48.3% |
| Debt charges | 650 | €418,641 | €553,625 | +€134,984 | +32.2% |
| Other financial charges | 652/9 | €51,809 | €144,064 | +€92,256 | +178% |
| Non-recurring financial charges | 66B | €40,026,039 | €32,325 | -€40.0m | -99.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,602,105 | €18,479,289 | +€23.1m | |
| Income taxes | 67/77 | €4,001,367 | -€220,464 | -€4.2m | |
| Taxes | 670/3 | €5,750,178 | €939,627 | -€4.8m | -83.7% |
| Tax adjustments and reversals of tax provisions | 77 | €1,748,810 | €1,160,091 | -€588,719 | -33.7% |
| Profit (loss) for the period | 9904 | -€8,603,473 | €18,699,753 | +€27.3m | |
| Transfer from tax-exempt reserves | 789 | - | €749,999 | +€749,999 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,603,473 | €19,449,752 | +€28.1m |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.