BEL FUSE INC /NJ
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
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FY2025 · Filed Feb 24, 2026
BELFB$223.38-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets - December 31, 2025 and 2024
BEL FUSE INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(dollars in thousands, except share and per share data)
| December 31, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $57,800 | $68,253 |
| Held to maturity U.S. Treasury securities | - | 950 |
| Accounts receivable, net of credit losses of $671 and $1,336, at December 31, 2025 and 2024, respectively | 121,490 | 111,376 |
| Inventories | 167,270 | 161,370 |
| Unbilled receivables | 9,747 | 4,994 |
| Assets held for sale | - | 2,062 |
| Other current assets | 28,454 | 24,525 |
| Total current assets | 384,761 | 373,530 |
| Property, plant and equipment, net | 48,428 | 47,879 |
| Right-of-use assets | 22,868 | 25,125 |
| Related-party note receivable | - | 2,937 |
| Equity method investment | - | 9,265 |
| Intangible assets, net | 217,966 | 231,948 |
| Goodwill, net | 214,821 | 208,036 |
| Deferred income taxes | 12,843 | 16,430 |
| Other assets | 33,513 | 34,639 |
| Total assets | $935,200 | $949,789 |
| LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND SHAREHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $52,990 | $49,182 |
| Accrued expenses | 49,710 | 53,031 |
| Operating lease liability, current | 8,029 | 7,954 |
| Other current liabilities | 16,716 | 17,902 |
| Total current liabilities | 127,445 | 128,069 |
| Long-term liabilities: | ||
| Long-term debt | 197,500 | 287,500 |
| Operating lease liability, long-term | 15,867 | 17,763 |
| Liability for uncertain tax positions | 17,524 | 18,127 |
| Minimum pension obligation and unfunded pension liability | 19,303 | 18,431 |
| Deferred income taxes | 29,684 | 28,916 |
| Related-party note payable | - | 4,995 |
| Other long-term liabilities | 9,203 | 4,826 |
| Total liabilities | 416,526 | 508,627 |
| Commitments and contingencies (see Note 19) | ||
| Redeemable noncontrolling interest | 93,161 | 80,586 |
| Shareholders' equity: | ||
| Preferred stock, no par value, 1,000,000 shares authorized; none issued | - | - |
| Class A common stock, par value $.10 per share, 10,000,000 shares authorized; 2,115,263 shares outstanding at each date (net of 1,072,769 restricted treasury shares) | 212 | 212 |
| Class B common stock, par value $.10 per share, 30,000,000 shares authorized; 10,543,368 shares and 10,425,175 shares outstanding at December 31, 2025 and December 31, 2024, respectively (net of 3,218,307 restricted treasury shares) | 1,058 | 1,046 |
| Treasury stock (unrestricted; none outstanding at December 31, 2025, and at December 31, 2024) | - | - |
| Additional paid-in capital | 38,315 | 31,514 |
| Retained earnings | 403,102 | 345,031 |
| Accumulated other comprehensive loss | (17,174) | (17,227) |
| Total shareholders' equity | 425,513 | 360,576 |
| Total liabilities, redeemable noncontrolling interest and shareholders' equity | $935,200 | $949,789 |
See accompanying notes to consolidated financial statements.
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