BELMARK: what changed
BELMARK
Largest movements
- Receivables within one year -€3,866
down €3,866 (-27.6%), from €14,013 to €10,147
of which Trade receivables: -€3,929
- Cash -€2,509
down €2,509 (-92.4%), from €2,716 to €207
mainly Trade debts (-€3,237) and Net result for the year (-€2,519)
- Trade debts -€3,237
down €3,237 (-13.1%), from €24,802 to €21,564
- Profit (loss) carried forward -€2,519
down €2,519 (-36.1%), from -€6,982 to -€9,501
- Gross operating margin -€2,593
down €2,593, from €618 to -€1,975
- Financial charges -€57
down €57 (-70.3%), from €81 to €24
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €64,758 | €58,382 | -€6,375 | -9.8% |
| Current assets | 29/58 | €64,758 | €58,382 | -€6,375 | -9.8% |
| Stocks and contracts in progress | 3 | €48,029 | €48,029 | = | 0.0% |
| Stocks | 30/36 | €48,029 | €48,029 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,013 | €10,147 | -€3,866 | -27.6% |
| Trade receivables | 40 | €14,013 | €10,084 | -€3,929 | -28.0% |
| Other amounts receivable | 41 | - | €63 | +€63 | |
| Cash at bank and in hand | 54/58 | €2,716 | €207 | -€2,509 | -92.4% |
| Total equity and liabilities | 10/49 | €64,758 | €58,382 | -€6,375 | -9.8% |
| Equity | 10/15 | €13,350 | €10,830 | -€2,519 | -18.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,732 | €1,732 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,732 | €1,732 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,732 | €1,732 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,982 | -€9,501 | -€2,519 | -36.1% |
| Amounts payable | 17/49 | €51,408 | €47,552 | -€3,856 | -7.5% |
| Amounts payable within one year | 42/48 | €51,408 | €47,552 | -€3,856 | -7.5% |
| Trade debts | 44 | €24,802 | €21,564 | -€3,237 | -13.1% |
| Suppliers | 440/4 | €24,802 | €21,564 | -€3,237 | -13.1% |
| Taxes, remuneration and social security | 45 | €619 | - | -€619 | |
| Taxes | 450/3 | €619 | - | -€619 | |
| Other amounts payable | 47/48 | €25,988 | €25,988 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €618 | -€1,975 | -€2,593 | |
| Operating profit (loss) | 9901 | €113 | -€2,495 | -€2,608 | |
| Financial charges | 65/66B | €81 | €24 | -€57 | -70.3% |
| Recurring financial charges | 65 | €81 | €24 | -€57 | -70.3% |
| Profit (loss) for the period before taxes | 9903 | €31 | -€2,519 | -€2,550 | |
| Profit (loss) for the period | 9904 | €31 | -€2,519 | -€2,550 | |
| Profit (loss) for the period to be appropriated | 9905 | €31 | -€2,519 | -€2,550 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.