BELNED: 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.
BELNED
Largest movements
- Cash +€1,356
up €1,356 (+95.4%), from €1,422 to €2,778
mainly Receivables within one year (+€1,295) and Net result for the year (+€249)
- Receivables within one year -€1,295
down €1,295 (-42.4%), from €3,051 to €1,756
of which Other amounts receivable: -€785
- Profit (loss) carried forward +€249
up €249, from -€62 to €187
- Other debts -€193
down €193 (-9.5%), from €2,035 to €1,841
- Gross operating margin +€942
up €942, from -€54 to €889
- Purchases and services -€915
down €915 (-11.4%), from €8,001 to €7,086
- Other operating charges +€356
up €356 (+196%), from €182 to €538
- Taxes +€102
new in 2025: €102
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 | €4,473 | €4,534 | +€61 | +1.4% |
| Current assets | 29/58 | €4,473 | €4,534 | +€61 | +1.4% |
| Amounts receivable within one year | 40/41 | €3,051 | €1,756 | -€1,295 | -42.4% |
| Trade receivables | 40 | €2,096 | €1,587 | -€509 | -24.3% |
| Other amounts receivable | 41 | €955 | €169 | -€785 | -82.3% |
| Cash at bank and in hand | 54/58 | €1,422 | €2,778 | +€1,356 | +95.4% |
| Total equity and liabilities | 10/49 | €4,473 | €4,534 | +€61 | +1.4% |
| Equity | 10/15 | €2,438 | €2,687 | +€249 | +10.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62 | €187 | +€249 | |
| Amounts payable | 17/49 | €2,035 | €1,848 | -€187 | -9.2% |
| Amounts payable within one year | 42/48 | €2,035 | €1,848 | -€187 | -9.2% |
| Trade debts | 44 | - | €6 | +€6 | |
| Suppliers | 440/4 | - | €6 | +€6 | |
| Other amounts payable | 47/48 | €2,035 | €1,841 | -€193 | -9.5% |
| Turnover | 70 | €7,947 | €7,974 | +€27 | +0.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €8,001 | €7,086 | -€915 | -11.4% |
| Other operating charges | 640/8 | €182 | €538 | +€356 | +196% |
| Gross operating margin | 9900 | -€54 | €889 | +€942 | |
| Operating profit (loss) | 9901 | -€235 | €351 | +€586 | |
| Profit (loss) for the period before taxes | 9903 | -€235 | €351 | +€586 | |
| Income taxes | 67/77 | - | €102 | +€102 | |
| Profit (loss) for the period | 9904 | -€235 | €249 | +€484 | |
| Profit (loss) for the period to be appropriated | 9905 | -€235 | €249 | +€484 |
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.