BELBRIDGE: 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.
BELBRIDGE
Largest movements
- Tangible fixed assets +€262,987
up €262,987 (+143%), from €183,520 to €446,507
of which Land and buildings: +€247,580
- Cash -€136,164
down €136,164 (-94.1%), from €144,741 to €8,576
mainly Investment in fixed assets (net) (-€298,610) and Receivables within one year (-€36,293)
- Receivables within one year +€36,293
up €36,293 (+8.1%), from €445,791 to €482,085
of which Trade receivables: +€46,753
- Other debts +€129,906
up €129,906 (+41.8%), from €311,096 to €441,002
- Trade debts +€62,175
up €62,175 (+18.1%), from €343,789 to €405,964
- Reserves -€31,378
down €31,378 (-26.7%), from €117,604 to €86,226
of which Distributable reserves: -€31,378
- Depreciation +€29,371
up €29,371 (+280%), from €10,484 to €39,854
- Gross operating margin +€11,190
up €11,190 (+5,465%), from €205 to €11,395
- Financial charges -€2,848
down €2,848 (-89.7%), from €3,176 to €328
- Other operating charges +€538
up €538 (+30.6%), from €1,761 to €2,299
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 | €804,826 | €964,174 | +€159,347 | +19.8% |
| Fixed assets | 21/28 | €213,377 | €472,132 | +€258,755 | +121% |
| Intangible fixed assets | 21 | €11,107 | €6,875 | -€4,232 | -38.1% |
| Tangible fixed assets | 22/27 | €183,520 | €446,507 | +€262,987 | +143% |
| Land and buildings | 22 | €172,324 | €419,904 | +€247,580 | +144% |
| Furniture and vehicles | 24 | €11,196 | €26,603 | +€15,407 | +138% |
| Financial fixed assets | 28 | €18,750 | €18,750 | = | 0.0% |
| Current assets | 29/58 | €591,450 | €492,041 | -€99,408 | -16.8% |
| Amounts receivable within one year | 40/41 | €445,791 | €482,085 | +€36,293 | +8.1% |
| Trade receivables | 40 | €87,697 | €134,450 | +€46,753 | +53.3% |
| Other amounts receivable | 41 | €358,094 | €347,634 | -€10,460 | -2.9% |
| Cash at bank and in hand | 54/58 | €144,741 | €8,576 | -€136,164 | -94.1% |
| Deferred charges and accrued income | 490/1 | €918 | €1,381 | +€463 | +50.4% |
| Total equity and liabilities | 10/49 | €804,826 | €964,174 | +€159,347 | +19.8% |
| Equity | 10/15 | €136,204 | €104,826 | -€31,378 | -23.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €117,604 | €86,226 | -€31,378 | -26.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €117,604 | €86,226 | -€31,378 | -26.7% |
| Amounts payable | 17/49 | €668,623 | €859,348 | +€190,725 | +28.5% |
| Amounts payable within one year | 42/48 | €668,623 | €859,348 | +€190,725 | +28.5% |
| Trade debts | 44 | €343,789 | €405,964 | +€62,175 | +18.1% |
| Suppliers | 440/4 | €343,789 | €405,964 | +€62,175 | +18.1% |
| Taxes, remuneration and social security | 45 | €13,738 | €12,381 | -€1,356 | -9.9% |
| Taxes | 450/3 | €9,545 | €8,018 | -€1,527 | -16.0% |
| Remuneration and social security | 454/9 | €4,193 | €4,363 | +€171 | +4.1% |
| Other amounts payable | 47/48 | €311,096 | €441,002 | +€129,906 | +41.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,484 | €39,854 | +€29,371 | +280% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,761 | €2,299 | +€538 | +30.6% |
| Gross operating margin | 9900 | €205 | €11,395 | +€11,190 | +5,465% |
| Operating profit (loss) | 9901 | -€12,040 | -€30,758 | -€18,719 | -155% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,176 | €328 | -€2,848 | -89.7% |
| Recurring financial charges | 65 | €3,176 | €328 | -€2,848 | -89.7% |
| Profit (loss) for the period before taxes | 9903 | -€15,216 | -€31,087 | -€15,871 | -104% |
| Income taxes | 67/77 | €285 | €291 | +€6 | +2.1% |
| Profit (loss) for the period | 9904 | -€15,501 | -€31,378 | -€15,877 | -102% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,501 | -€31,378 | -€15,877 | -102% |
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 14 October 2026 via checked.be.