Bbelt: what changed
Two fiscal 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.
Bbelt
Largest movements
- Receivables within one year -€134,879
down €134,879 (-37.4%), from €360,688 to €225,808
of which Trade receivables: -€105,508
- Cash +€45,360
up €45,360 (+98.5%), from €46,062 to €91,422
mainly Receivables within one year (+€134,879) and Debts after one year (+€24,374)
- Stocks and contracts +€22,744
up €22,744 (+14.4%), from €157,470 to €180,213
- Tangible fixed assets +€16,483
up €16,483 (+32.4%), from €50,908 to €67,391
of which Furniture and vehicles: +€17,476
- Trade debts -€66,972
down €66,972 (-47.1%), from €142,055 to €75,083
- Debts after one year +€24,374
up €24,374 (+212.9%), from €11,449 to €35,823
- Tax, wage and social debts -€19,023
down €19,023 (-20.0%), from €95,217 to €76,194
of which Remuneration and social security: -€11,183
- Short-term financial debts +€8,465
up €8,465 (+677.2%), from €1,250 to €9,715
- Gross operating margin -€18,080
down €18,080 (-5.2%), from €346,463 to €328,384
- Staff costs -€14,495
down €14,495 (-4.7%), from €309,487 to €294,992
- Depreciation +€4,379
up €4,379 (+24.5%), from €17,902 to €22,280
- Write-downs +€3,902
up €3,902, from -€3,902 to €0
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €618,844 | €567,481 | -€51,363 | -8.3% |
| Fixed assets | 21/28 | €50,908 | €67,391 | +€16,483 | +32.4% |
| Tangible fixed assets | 22/27 | €50,908 | €67,391 | +€16,483 | +32.4% |
| Plant, machinery and equipment | 23 | €11,132 | €10,139 | -€993 | -8.9% |
| Furniture and vehicles | 24 | €39,776 | €57,252 | +€17,476 | +43.9% |
| Current assets | 29/58 | €567,936 | €500,090 | -€67,846 | -11.9% |
| Stocks and contracts in progress | 3 | €157,470 | €180,213 | +€22,744 | +14.4% |
| Stocks | 30/36 | €157,470 | €180,213 | +€22,744 | +14.4% |
| Amounts receivable within one year | 40/41 | €360,688 | €225,808 | -€134,879 | -37.4% |
| Trade receivables | 40 | €328,937 | €223,428 | -€105,508 | -32.1% |
| Other amounts receivable | 41 | €31,751 | €2,380 | -€29,371 | -92.5% |
| Cash at bank and in hand | 54/58 | €46,062 | €91,422 | +€45,360 | +98.5% |
| Deferred charges and accrued income | 490/1 | €3,717 | €2,647 | -€1,071 | -28.8% |
| Total equity and liabilities | 10/49 | €618,844 | €567,481 | -€51,363 | -8.3% |
| Equity | 10/15 | €354,013 | €353,528 | -€484 | -0.1% |
| Contributions | 10/11 | €160,000 | €160,000 | = | 0.0% |
| Capital | 10 | €160,000 | €160,000 | = | 0.0% |
| Issued capital | 100 | €160,000 | €160,000 | = | 0.0% |
| Reserves | 13 | €194,013 | €193,528 | -€484 | -0.2% |
| Non-distributable reserves | 130/1 | €16,000 | €16,000 | = | 0.0% |
| Legal reserve | 130 | €16,000 | €16,000 | = | 0.0% |
| Distributable reserves | 133 | €178,013 | €177,528 | -€484 | -0.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €264,832 | €213,953 | -€50,879 | -19.2% |
| Amounts payable after more than one year | 17 | €11,449 | €35,823 | +€24,374 | +212.9% |
| Financial debts | 170/4 | €11,449 | €35,823 | +€24,374 | +212.9% |
| Amounts payable within one year | 42/48 | €253,383 | €176,316 | -€77,068 | -30.4% |
| Current portion of amounts payable after more than one year | 42 | €14,046 | €15,323 | +€1,278 | +9.1% |
| Financial debts | 43 | €1,250 | €9,715 | +€8,465 | +677.2% |
| Credit institutions | 430/8 | €1,250 | €9,715 | +€8,465 | +677.2% |
| Trade debts | 44 | €142,055 | €75,083 | -€66,972 | -47.1% |
| Suppliers | 440/4 | €142,055 | €75,083 | -€66,972 | -47.1% |
| Taxes, remuneration and social security | 45 | €95,217 | €76,194 | -€19,023 | -20.0% |
| Taxes | 450/3 | €48,081 | €40,241 | -€7,840 | -16.3% |
| Remuneration and social security | 454/9 | €47,136 | €35,953 | -€11,183 | -23.7% |
| Other amounts payable | 47/48 | €815 | €0 | -€815 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | €1,815 | +€1,815 | |
| Remuneration, social security and pensions | 62 | €309,487 | €294,992 | -€14,495 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,902 | €22,280 | +€4,379 | +24.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,902 | €0 | +€3,902 | |
| Other operating charges | 640/8 | €4,346 | €5,159 | +€814 | +18.7% |
| Gross operating margin | 9900 | €346,463 | €328,384 | -€18,080 | -5.2% |
| Operating profit (loss) | 9901 | €18,630 | €5,952 | -€12,679 | -68.1% |
| Financial income | 75/76B | €942 | €115 | -€827 | -87.8% |
| Recurring financial income | 75 | €942 | €115 | -€827 | -87.8% |
| Financial charges | 65/66B | €2,119 | €2,519 | +€401 | +18.9% |
| Recurring financial charges | 65 | €2,119 | €2,519 | +€401 | +18.9% |
| Profit (loss) for the period before taxes | 9903 | €17,454 | €3,547 | -€13,907 | -79.7% |
| Income taxes | 67/77 | €7,361 | €4,032 | -€3,329 | -45.2% |
| Profit (loss) for the period | 9904 | €10,093 | -€484 | -€10,577 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,093 | -€484 | -€10,577 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.