BELGITECH: what changed
BELGITECH
Largest movements
- Receivables within one year +€51,548
up €51,548 (+3,045%), from €1,693 to €53,241
of which Trade receivables: +€53,240
- Cash -€45,079
down €45,079 (-78.6%), from €57,342 to €12,263
mainly Contributions, distributions and other (-€60,364) and Receivables within one year (-€51,548)
- Tangible fixed assets +€2,785
up €2,785 (+54.2%), from €5,135 to €7,920
of which Furniture and vehicles: +€3,371
- Financial fixed assets +€2,500
up €2,500 (+49.0%), from €5,098 to €7,598
- Deferred charges and accrued income -€2,100
down €2,100 (-19.8%), from €10,632 to €8,532
- Tax, wage and social debts +€7,225
up €7,225 (+23,782%), from €30 to €7,255
- Reserves +€2,478
up €2,478 (+54.8%), from €4,523 to €7,001
- Gross operating margin +€5,227
up €5,227 (+6.8%), from €77,210 to €82,436
- Taxes +€3,836
up €3,836 (+29.6%), from €12,959 to €16,796
- Depreciation +€844
up €844 (+63.7%), from €1,326 to €2,170
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 | €79,899 | €89,552 | +€9,653 | +12.1% |
| Fixed assets | 21/28 | €10,233 | €15,517 | +€5,285 | +51.6% |
| Tangible fixed assets | 22/27 | €5,135 | €7,920 | +€2,785 | +54.2% |
| Plant, machinery and equipment | 23 | €2,751 | €2,165 | -€586 | -21.3% |
| Furniture and vehicles | 24 | €2,384 | €5,755 | +€3,371 | +141% |
| Financial fixed assets | 28 | €5,098 | €7,598 | +€2,500 | +49.0% |
| Current assets | 29/58 | €69,667 | €74,035 | +€4,368 | +6.3% |
| Amounts receivable within one year | 40/41 | €1,693 | €53,241 | +€51,548 | +3,045% |
| Trade receivables | 40 | - | €53,240 | +€53,240 | |
| Other amounts receivable | 41 | €1,693 | €1 | -€1,692 | -100.0% |
| Cash at bank and in hand | 54/58 | €57,342 | €12,263 | -€45,079 | -78.6% |
| Deferred charges and accrued income | 490/1 | €10,632 | €8,532 | -€2,100 | -19.8% |
| Total equity and liabilities | 10/49 | €79,899 | €89,552 | +€9,653 | +12.1% |
| Equity | 10/15 | €12,523 | €15,001 | +€2,478 | +19.8% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €4,523 | €7,001 | +€2,478 | +54.8% |
| Distributable reserves | 133 | €4,523 | €7,001 | +€2,478 | +54.8% |
| Amounts payable | 17/49 | €67,376 | €74,552 | +€7,175 | +10.6% |
| Amounts payable within one year | 42/48 | €67,376 | €74,552 | +€7,175 | +10.6% |
| Trade debts | 44 | €3,675 | €4,366 | +€691 | +18.8% |
| Suppliers | 440/4 | €3,675 | €4,366 | +€691 | +18.8% |
| Taxes, remuneration and social security | 45 | €30 | €7,255 | +€7,225 | +23,782% |
| Taxes | 450/3 | €30 | €7,255 | +€7,225 | +23,782% |
| Other amounts payable | 47/48 | €63,671 | €62,930 | -€741 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,326 | €2,170 | +€844 | +63.7% |
| Other operating charges | 640/8 | €976 | €400 | -€577 | -59.1% |
| Gross operating margin | 9900 | €77,210 | €82,436 | +€5,227 | +6.8% |
| Operating profit (loss) | 9901 | €74,908 | €79,867 | +€4,959 | +6.6% |
| Financial charges | 65/66B | €269 | €230 | -€39 | -14.5% |
| Recurring financial charges | 65 | €269 | €230 | -€39 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €74,639 | €79,637 | +€4,998 | +6.7% |
| Income taxes | 67/77 | €12,959 | €16,796 | +€3,836 | +29.6% |
| Profit (loss) for the period | 9904 | €61,680 | €62,841 | +€1,162 | +1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €61,680 | €62,841 | +€1,162 | +1.9% |
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 1 November 2026 via checked.be.