BEL EXPRESS: 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.
BEL EXPRESS
Largest movements
- Receivables within one year +€10,025
up €10,025 (+25.7%), from €39,017 to €49,042
of which Trade receivables: +€6,205
- Tangible fixed assets -€3,650
no longer reported in 2024 (was €3,650)
- Cash +€3,232
up €3,232 (+99.5%), from €3,248 to €6,481
mainly Trade debts (+€4,614) and Net result for the year (+€4,352)
- Trade debts +€4,614
up €4,614 (+9.2%), from €50,338 to €54,952
- Profit (loss) carried forward +€4,352
up €4,352 (+9.8%), from -€44,372 to -€40,021
- Tax, wage and social debts +€1,024
up €1,024 (+4.7%), from €21,984 to €23,009
of which Remuneration and social security: +€841
- Turnover +€320,158
new in 2024: €320,158
- Gross operating margin +€19,898
up €19,898 (+31.7%), from €62,808 to €82,706
- Purchases and services +€8,817
up €8,817 (+3.9%), from €228,635 to €237,452
- Depreciation -€3,936
down €3,936 (-51.9%), from €7,586 to €3,650
- Staff costs +€3,746
up €3,746 (+5.5%), from €67,994 to €71,741
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 | €47,887 | €57,549 | +€9,662 | +20.2% |
| Fixed assets | 21/28 | €4,805 | €1,155 | -€3,650 | -76.0% |
| Tangible fixed assets | 22/27 | €3,650 | - | -€3,650 | |
| Furniture and vehicles | 24 | €3,650 | - | -€3,650 | |
| Financial fixed assets | 28 | €1,155 | €1,155 | = | 0.0% |
| Current assets | 29/58 | €43,082 | €56,394 | +€13,312 | +30.9% |
| Amounts receivable within one year | 40/41 | €39,017 | €49,042 | +€10,025 | +25.7% |
| Trade receivables | 40 | €28,407 | €34,611 | +€6,205 | +21.8% |
| Other amounts receivable | 41 | €10,611 | €14,431 | +€3,820 | +36.0% |
| Cash at bank and in hand | 54/58 | €3,248 | €6,481 | +€3,232 | +99.5% |
| Deferred charges and accrued income | 490/1 | €817 | €871 | +€54 | +6.7% |
| Total equity and liabilities | 10/49 | €47,887 | €57,549 | +€9,662 | +20.2% |
| Equity | 10/15 | -€25,772 | -€21,421 | +€4,352 | +16.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | - | €18,600 | +€18,600 | |
| Issued capital | 100 | - | €18,600 | +€18,600 | |
| Profit (loss) carried forward | 14 | -€44,372 | -€40,021 | +€4,352 | +9.8% |
| Amounts payable | 17/49 | €73,660 | €78,970 | +€5,310 | +7.2% |
| Amounts payable within one year | 42/48 | €73,660 | €78,970 | +€5,310 | +7.2% |
| Trade debts | 44 | €50,338 | €54,952 | +€4,614 | +9.2% |
| Suppliers | 440/4 | €50,338 | €54,952 | +€4,614 | +9.2% |
| Taxes, remuneration and social security | 45 | €21,984 | €23,009 | +€1,024 | +4.7% |
| Taxes | 450/3 | - | €184 | +€184 | |
| Remuneration and social security | 454/9 | €21,984 | €22,825 | +€841 | +3.8% |
| Other amounts payable | 47/48 | €1,338 | €1,009 | -€329 | -24.6% |
| Turnover | 70 | - | €320,158 | +€320,158 | |
| Goods, raw materials, services and sundry goods | 60/61 | €228,635 | €237,452 | +€8,817 | +3.9% |
| Remuneration, social security and pensions | 62 | €67,994 | €71,741 | +€3,746 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,586 | €3,650 | -€3,936 | -51.9% |
| Other operating charges | 640/8 | €1,811 | €1,669 | -€142 | -7.9% |
| Non-recurring operating charges | 66A | €308 | €1,165 | +€857 | +278.2% |
| Gross operating margin | 9900 | €62,808 | €82,706 | +€19,898 | +31.7% |
| Operating profit (loss) | 9901 | -€14,891 | €4,482 | +€19,373 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €117 | €130 | +€13 | +11.4% |
| Recurring financial charges | 65 | €117 | €130 | +€13 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | -€15,006 | €4,352 | +€19,358 | |
| Income taxes | 67/77 | €1,444 | - | -€1,444 | |
| Profit (loss) for the period | 9904 | -€16,450 | €4,352 | +€20,802 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,450 | €4,352 | +€20,802 |
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 3 October 2026 via checked.be.