BELARM EXPRESS: 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.
BELARM EXPRESS
Largest movements
- Receivables within one year -€6,280
down €6,280 (-28.0%), from €22,411 to €16,131
of which Trade receivables: -€8,348
- Tangible fixed assets +€3,200
new in 2024: €3,200
- Cash -€2,877
down €2,877 (-73.6%), from €3,907 to €1,030
mainly Investment in fixed assets (net) (-€4,800) and Net result for the year (-€2,564)
- Profit (loss) carried forward -€2,564
down €2,564, from €1,285 to -€1,279
- Tax, wage and social debts -€2,356
down €2,356 (-57.5%), from €4,093 to €1,738
- Trade debts -€1,482
down €1,482 (-63.4%), from €2,339 to €857
- Current portion of long-term debt +€444
new in 2024: €444
- Gross operating margin -€5,044
down €5,044, from €3,702 to -€1,342
- Depreciation +€1,600
new in 2024: €1,600
- Taxes -€1,327
down €1,327 (-86.6%), from €1,532 to €205
- Financial income +€775
up €775 (+1,040%), from €75 to €850
of which Non-recurring financial income: +€850
- Financial charges -€118
down €118 (-30.7%), from €384 to €266
of which Non-recurring financial charges: -€200
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.
Derived cash bridge
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 | €26,318 | €20,361 | -€5,957 | -22.6% |
| Fixed assets | 21/28 | - | €3,200 | +€3,200 | |
| Tangible fixed assets | 22/27 | - | €3,200 | +€3,200 | |
| Furniture and vehicles | 24 | - | €3,200 | +€3,200 | |
| Current assets | 29/58 | €26,318 | €17,161 | -€9,157 | -34.8% |
| Amounts receivable within one year | 40/41 | €22,411 | €16,131 | -€6,280 | -28.0% |
| Trade receivables | 40 | €8,348 | - | -€8,348 | |
| Other amounts receivable | 41 | €14,064 | €16,131 | +€2,067 | +14.7% |
| Cash at bank and in hand | 54/58 | €3,907 | €1,030 | -€2,877 | -73.6% |
| Total equity and liabilities | 10/49 | €26,318 | €20,361 | -€5,957 | -22.6% |
| Equity | 10/15 | €19,885 | €17,321 | -€2,564 | -12.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,285 | -€1,279 | -€2,564 | |
| Amounts payable | 17/49 | €6,433 | €3,040 | -€3,393 | -52.7% |
| Amounts payable within one year | 42/48 | €6,433 | €3,040 | -€3,393 | -52.7% |
| Current portion of amounts payable after more than one year | 42 | - | €444 | +€444 | |
| Trade debts | 44 | €2,339 | €857 | -€1,482 | -63.4% |
| Suppliers | 440/4 | €2,339 | €857 | -€1,482 | -63.4% |
| Taxes, remuneration and social security | 45 | €4,093 | €1,738 | -€2,356 | -57.5% |
| Taxes | 450/3 | €4,093 | €1,738 | -€2,356 | -57.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,600 | +€1,600 | |
| Gross operating margin | 9900 | €3,702 | -€1,342 | -€5,044 | |
| Operating profit (loss) | 9901 | €3,702 | -€2,942 | -€6,644 | |
| Financial income | 75/76B | €75 | €850 | +€775 | +1,040% |
| Recurring financial income | 75 | €75 | €850 | +€775 | +1,040% |
| Non-recurring financial income | 76B | - | €850 | +€850 | |
| Financial charges | 65/66B | €384 | €266 | -€118 | -30.7% |
| Recurring financial charges | 65 | €185 | €266 | +€82 | +44.1% |
| Non-recurring financial charges | 66B | €200 | - | -€200 | |
| Profit (loss) for the period before taxes | 9903 | €3,393 | -€2,358 | -€5,751 | |
| Income taxes | 67/77 | €1,532 | €205 | -€1,327 | -86.6% |
| Profit (loss) for the period | 9904 | €1,860 | -€2,564 | -€4,424 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,860 | -€2,564 | -€4,424 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.