belrey: 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.
belrey
Largest movements
- Cash +€7,393
up €7,393 (+75.9%), from €9,739 to €17,132
mainly Net result for the year (+€28,744) and Trade debts (+€15,309)
- Receivables within one year +€2,794
up €2,794 (+16.9%), from €16,522 to €19,316
of which Other amounts receivable: +€4,550
- Tangible fixed assets -€2,227
down €2,227 (-6.5%), from €34,225 to €31,997
of which Furniture and vehicles: -€2,309
- Debts after one year -€30,000
down €30,000 (-92.6%), from €32,390 to €2,390
- Profit (loss) carried forward +€28,744
up €28,744 (+167%), from €17,194 to €45,938
- Trade debts +€15,309
up €15,309 (+1,185%), from €1,292 to €16,601
- Tax, wage and social debts -€4,861
down €4,861 (-57.7%), from €8,422 to €3,560
of which Taxes: -€4,895
- Accrued charges and deferred income -€971
down €971 (-100%), from €971 to €0
- Gross operating margin +€4,119
up €4,119 (+9.2%), from €44,918 to €49,037
- Taxes +€3,378
up €3,378 (+53.6%), from €6,298 to €9,677
- Financial charges +€1,538
up €1,538 (+206%), from €745 to €2,283
- Depreciation +€856
up €856 (+13.0%), from €6,592 to €7,448
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 | €61,269 | €69,489 | +€8,220 | +13.4% |
| Fixed assets | 21/28 | €34,225 | €32,123 | -€2,101 | -6.1% |
| Tangible fixed assets | 22/27 | €34,225 | €31,997 | -€2,227 | -6.5% |
| Plant, machinery and equipment | 23 | €5,819 | €6,124 | +€305 | +5.2% |
| Furniture and vehicles | 24 | €26,584 | €24,275 | -€2,309 | -8.7% |
| Other tangible fixed assets | 26 | €1,821 | €1,598 | -€224 | -12.3% |
| Financial fixed assets | 28 | - | €126 | +€126 | |
| Current assets | 29/58 | €27,044 | €37,366 | +€10,322 | +38.2% |
| Amounts receivable within one year | 40/41 | €16,522 | €19,316 | +€2,794 | +16.9% |
| Trade receivables | 40 | €14,736 | €12,980 | -€1,756 | -11.9% |
| Other amounts receivable | 41 | €1,786 | €6,336 | +€4,550 | +255% |
| Cash at bank and in hand | 54/58 | €9,739 | €17,132 | +€7,393 | +75.9% |
| Deferred charges and accrued income | 490/1 | €783 | €917 | +€134 | +17.1% |
| Total equity and liabilities | 10/49 | €61,269 | €69,489 | +€8,220 | +13.4% |
| Equity | 10/15 | €18,194 | €46,938 | +€28,744 | +158% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,194 | €45,938 | +€28,744 | +167% |
| Amounts payable | 17/49 | €43,075 | €22,551 | -€20,524 | -47.6% |
| Amounts payable after more than one year | 17 | €32,390 | €2,390 | -€30,000 | -92.6% |
| Other amounts payable | 178/9 | €32,390 | €2,390 | -€30,000 | -92.6% |
| Amounts payable within one year | 42/48 | €9,714 | €20,161 | +€10,447 | +108% |
| Trade debts | 44 | €1,292 | €16,601 | +€15,309 | +1,185% |
| Suppliers | 440/4 | €1,292 | €16,601 | +€15,309 | +1,185% |
| Taxes, remuneration and social security | 45 | €8,422 | €3,560 | -€4,861 | -57.7% |
| Taxes | 450/3 | €8,422 | €3,526 | -€4,895 | -58.1% |
| Remuneration and social security | 454/9 | - | €34 | +€34 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €971 | €0 | -€971 | -100% |
| Remuneration, social security and pensions | 62 | - | €303 | +€303 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,592 | €7,448 | +€856 | +13.0% |
| Other operating charges | 640/8 | €1,165 | €686 | -€478 | -41.1% |
| Gross operating margin | 9900 | €44,918 | €49,037 | +€4,119 | +9.2% |
| Operating profit (loss) | 9901 | €37,161 | €40,600 | +€3,438 | +9.3% |
| Financial income | 75/76B | €144 | €104 | -€40 | -27.5% |
| Recurring financial income | 75 | €144 | €104 | -€40 | -27.5% |
| Financial charges | 65/66B | €745 | €2,283 | +€1,538 | +206% |
| Recurring financial charges | 65 | €745 | €2,283 | +€1,538 | +206% |
| Profit (loss) for the period before taxes | 9903 | €36,560 | €38,421 | +€1,860 | +5.1% |
| Income taxes | 67/77 | €6,298 | €9,677 | +€3,378 | +53.6% |
| Profit (loss) for the period | 9904 | €30,262 | €28,744 | -€1,518 | -5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,262 | €28,744 | -€1,518 | -5.0% |
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 23 October 2026 via checked.be.