BELARCA: 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.
What changed
BELARCA
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€7,526
2023 · -€580+€8,105
Equity
€64,330
2023 · €56,804+€7,526
Cash
€28,578
2023 · €22,424+€6,154
Balance sheet total
€1.2m
2023 · €1.2m-€56,533
Largest movements
Assets
- Tangible fixed assets -€61,735
down €61,735 (-5.2%), from €1.2m to €1.1m
Equity and liabilities
- Debts after one year -€68,272
down €68,272 (-13.4%), from €509,248 to €440,975
Income statement
- Gross operating margin +€9,288
up €9,288 (+8.9%), from €103,814 to €113,103
- Depreciation +€1,575
up €1,575 (+2.1%), from €73,619 to €75,194
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.
Result 2023
-€580
Gross operating margin
+€9,288
Depreciation
-€1,575
Other operating charges
-€700
Financial charges
+€1,092
Result 2024
€7,526
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.
From operations
+€87,482
Investment
-€13,460
Financing
-€67,867
Cash 2023
€22,424
From operations (derived)
+€87,482
Net result for the year
+€7,526
Depreciation
+€75,194
Receivables within one year
-€2,738
Deferred charges and accrued income
+€3,690
Trade debts
+€167
Other debts
+€7,913
Accrued charges and deferred income
-€4,271
Investment (derived)
-€13,460
Investment in fixed assets (net)
-€13,460
Financing
-€67,867
Debts after one year
-€68,272
Current portion of long-term debt
+€405
Cash 2024
€28,578
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,216,997 | €1,160,464 | -€56,533 | -4.6% |
| Fixed assets | 21/28 | €1,179,539 | €1,117,805 | -€61,735 | -5.2% |
| Tangible fixed assets | 22/27 | €1,179,539 | €1,117,805 | -€61,735 | -5.2% |
| Land and buildings | 22 | €1,179,539 | €1,117,805 | -€61,735 | -5.2% |
| Current assets | 29/58 | €37,458 | €42,659 | +€5,202 | +13.9% |
| Amounts receivable within one year | 40/41 | €7,281 | €10,019 | +€2,738 | +37.6% |
| Trade receivables | 40 | €7,281 | €10,019 | +€2,738 | +37.6% |
| Cash at bank and in hand | 54/58 | €22,424 | €28,578 | +€6,154 | +27.4% |
| Deferred charges and accrued income | 490/1 | €7,753 | €4,062 | -€3,690 | -47.6% |
| Total equity and liabilities | 10/49 | €1,216,997 | €1,160,464 | -€56,533 | -4.6% |
| Equity | 10/15 | €56,804 | €64,330 | +€7,526 | +13.2% |
| Contributions | 10/11 | €198,315 | €198,315 | = | 0.0% |
| Capital | 10 | €198,315 | €198,315 | = | 0.0% |
| Issued capital | 100 | €198,315 | €198,315 | = | 0.0% |
| Reserves | 13 | €15,617 | €15,617 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,617 | €15,617 | = | 0.0% |
| Legal reserve | 130 | €15,617 | €15,617 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€157,128 | -€149,602 | +€7,526 | +4.8% |
| Amounts payable | 17/49 | €1,160,193 | €1,096,135 | -€64,059 | -5.5% |
| Amounts payable after more than one year | 17 | €509,248 | €440,975 | -€68,272 | -13.4% |
| Financial debts | 170/4 | €509,248 | €440,975 | -€68,272 | -13.4% |
| Amounts payable within one year | 42/48 | €641,044 | €649,528 | +€8,485 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €67,867 | €68,272 | +€405 | +0.6% |
| Trade debts | 44 | €12,521 | €12,688 | +€167 | +1.3% |
| Suppliers | 440/4 | €12,521 | €12,688 | +€167 | +1.3% |
| Other amounts payable | 47/48 | €560,655 | €568,568 | +€7,913 | +1.4% |
| Accrued charges and deferred income | 492/3 | €9,902 | €5,631 | -€4,271 | -43.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,619 | €75,194 | +€1,575 | +2.1% |
| Other operating charges | 640/8 | €8,429 | €9,129 | +€700 | +8.3% |
| Gross operating margin | 9900 | €103,814 | €113,103 | +€9,288 | +8.9% |
| Operating profit (loss) | 9901 | €21,767 | €28,780 | +€7,013 | +32.2% |
| Financial charges | 65/66B | €22,346 | €21,254 | -€1,092 | -4.9% |
| Recurring financial charges | 65 | €22,346 | €21,254 | -€1,092 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | -€580 | €7,526 | +€8,105 | |
| Profit (loss) for the period | 9904 | -€580 | €7,526 | +€8,105 | |
| Profit (loss) for the period to be appropriated | 9905 | -€580 | €7,526 | +€8,105 |
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 30 September 2026 via checked.be.