BELCAT: 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.
BELCAT
Largest movements
- Receivables within one year +€26,982
up €26,982 (+170.3%), from €15,843 to €42,825
of which Trade receivables: +€22,270
- Receivables after one year +€26,791
up €26,791 (+117.6%), from €22,786 to €49,578
- Cash -€2,152
down €2,152 (-99.4%), from €2,166 to €14
mainly Receivables within one year (-€26,982) and Receivables after one year (-€26,791)
- Reserves +€27,385
up €27,385 (+86.1%), from €31,803 to €59,189
- Tax, wage and social debts +€15,971
up €15,971 (+201.0%), from €7,946 to €23,917
- Trade debts +€7,705
up €7,705 (+857.6%), from €898 to €8,604
- Gross operating margin -€6,421
down €6,421 (-15.8%), from €40,601 to €34,180
- Taxes -€2,696
down €2,696 (-33.9%), from €7,946 to €5,250
- Financial charges +€628
up €628 (+970.5%), from €65 to €693
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 | €41,648 | €92,709 | +€51,061 | +122.6% |
| Formation expenses | 20 | €593 | €0 | -€593 | -100.0% |
| Fixed assets | 21/28 | €259 | €156 | -€103 | -39.6% |
| Tangible fixed assets | 22/27 | €259 | €156 | -€103 | -39.6% |
| Plant, machinery and equipment | 23 | €259 | €156 | -€103 | -39.6% |
| Current assets | 29/58 | €40,796 | €92,553 | +€51,757 | +126.9% |
| Amounts receivable after more than one year | 29 | €22,786 | €49,578 | +€26,791 | +117.6% |
| Other amounts receivable | 291 | €22,786 | €49,578 | +€26,791 | +117.6% |
| Amounts receivable within one year | 40/41 | €15,843 | €42,825 | +€26,982 | +170.3% |
| Trade receivables | 40 | €8,618 | €30,889 | +€22,270 | +258.4% |
| Other amounts receivable | 41 | €7,225 | €11,937 | +€4,712 | +65.2% |
| Cash at bank and in hand | 54/58 | €2,166 | €14 | -€2,152 | -99.4% |
| Deferred charges and accrued income | 490/1 | - | €136 | +€136 | |
| Total equity and liabilities | 10/49 | €41,648 | €92,709 | +€51,061 | +122.6% |
| Equity | 10/15 | €32,803 | €60,189 | +€27,385 | +83.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €31,803 | €59,189 | +€27,385 | +86.1% |
| Distributable reserves | 133 | €31,803 | €59,189 | +€27,385 | +86.1% |
| Amounts payable | 17/49 | €8,845 | €32,521 | +€23,676 | +267.7% |
| Amounts payable within one year | 42/48 | €8,845 | €32,521 | +€23,676 | +267.7% |
| Trade debts | 44 | €898 | €8,604 | +€7,705 | +857.6% |
| Suppliers | 440/4 | €898 | €8,604 | +€7,705 | +857.6% |
| Taxes, remuneration and social security | 45 | €7,946 | €23,917 | +€15,971 | +201.0% |
| Taxes | 450/3 | €7,946 | €23,917 | +€15,971 | +201.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €737 | €696 | -€41 | -5.6% |
| Other operating charges | 640/8 | €50 | €156 | +€106 | +211.5% |
| Gross operating margin | 9900 | €40,601 | €34,180 | -€6,421 | -15.8% |
| Operating profit (loss) | 9901 | €39,814 | €33,328 | -€6,486 | -16.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €65 | €693 | +€628 | +970.5% |
| Recurring financial charges | 65 | €65 | €693 | +€628 | +970.5% |
| Profit (loss) for the period before taxes | 9903 | €39,750 | €32,635 | -€7,114 | -17.9% |
| Income taxes | 67/77 | €7,946 | €5,250 | -€2,696 | -33.9% |
| Profit (loss) for the period | 9904 | €31,803 | €27,385 | -€4,418 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €31,803 | €27,385 | -€4,418 | -13.9% |
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.