BELCHAM: 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.
BELCHAM
Largest movements
- Receivables within one year +€270,739
up €270,739 (+629.3%), from €43,020 to €313,758
of which Other amounts receivable: +€262,576
- Tangible fixed assets -€164,932
down €164,932 (-96.6%), from €170,672 to €5,739
of which Land and buildings: -€159,816
- Reserves +€99,591
up €99,591 (+340.9%), from €29,218 to €128,809
of which Distributable reserves: +€99,591
- Short-term financial debts +€41,791
new in 2024: €41,791
- Debts after one year -€40,396
down €40,396 (-11.5%), from €349,950 to €309,554
of which Other amounts payable: -€36,912
- Trade debts +€18,875
up €18,875 (+55.3%), from €34,162 to €53,037
- Gross operating margin +€125,617
up €125,617 (+185.8%), from €67,605 to €193,222
- Taxes +€46,685
up €46,685 (+10868.2%), from €430 to €47,115
- Depreciation -€19,405
down €19,405 (-51.4%), from €37,768 to €18,363
- Staff costs -€12,295
down €12,295 (-100.0%), from €12,295 to €0
- Financial charges -€2,313
down €2,313 (-12.9%), from €17,971 to €15,658
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 | €1,758,015 | €1,877,241 | +€119,226 | +6.8% |
| Fixed assets | 21/28 | €1,692,364 | €1,543,298 | -€149,067 | -8.8% |
| Intangible fixed assets | 21 | €30,407 | €46,272 | +€15,866 | +52.2% |
| Tangible fixed assets | 22/27 | €170,672 | €5,739 | -€164,932 | -96.6% |
| Land and buildings | 22 | €159,816 | €0 | -€159,816 | -100.0% |
| Plant, machinery and equipment | 23 | €2,479 | €1,269 | -€1,210 | -48.8% |
| Furniture and vehicles | 24 | €8,377 | €4,471 | -€3,906 | -46.6% |
| Financial fixed assets | 28 | €1,491,286 | €1,491,286 | = | 0.0% |
| Current assets | 29/58 | €65,651 | €333,943 | +€268,293 | +408.7% |
| Amounts receivable within one year | 40/41 | €43,020 | €313,758 | +€270,739 | +629.3% |
| Trade receivables | 40 | €36,652 | €44,814 | +€8,163 | +22.3% |
| Other amounts receivable | 41 | €6,368 | €268,944 | +€262,576 | +4123.3% |
| Cash at bank and in hand | 54/58 | €5,233 | €3,797 | -€1,436 | -27.4% |
| Deferred charges and accrued income | 490/1 | €17,398 | €16,388 | -€1,010 | -5.8% |
| Total equity and liabilities | 10/49 | €1,758,015 | €1,877,241 | +€119,226 | +6.8% |
| Equity | 10/15 | €1,324,165 | €1,428,008 | +€103,843 | +7.8% |
| Contributions | 10/11 | €1,299,199 | €1,299,199 | = | 0.0% |
| Reserves | 13 | €29,218 | €128,809 | +€99,591 | +340.9% |
| Tax-exempt reserves | 132 | €13,868 | €13,868 | = | 0.0% |
| Distributable reserves | 133 | €15,350 | €114,941 | +€99,591 | +648.8% |
| Profit (loss) carried forward | 14 | -€4,252 | €0 | +€4,252 | |
| Amounts payable | 17/49 | €433,850 | €449,233 | +€15,383 | +3.5% |
| Amounts payable after more than one year | 17 | €349,950 | €309,554 | -€40,396 | -11.5% |
| Financial debts | 170/4 | €21,750 | €18,265 | -€3,485 | -16.0% |
| Other amounts payable | 178/9 | €328,200 | €291,289 | -€36,912 | -11.2% |
| Amounts payable within one year | 42/48 | €67,576 | €125,370 | +€57,794 | +85.5% |
| Current portion of amounts payable after more than one year | 42 | €21,245 | €27,144 | +€5,899 | +27.8% |
| Financial debts | 43 | - | €41,791 | +€41,791 | |
| Credit institutions | 430/8 | - | €41,791 | +€41,791 | |
| Trade debts | 44 | €34,162 | €53,037 | +€18,875 | +55.3% |
| Suppliers | 440/4 | €34,162 | €53,037 | +€18,875 | +55.3% |
| Taxes, remuneration and social security | 45 | €1,109 | €3,020 | +€1,911 | +172.3% |
| Taxes | 450/3 | €1,109 | €3,020 | +€1,911 | +172.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €11,061 | €378 | -€10,683 | -96.6% |
| Accrued charges and deferred income | 492/3 | €16,324 | €14,310 | -€2,014 | -12.3% |
| Non-recurring operating income | 76A | - | €230,184 | +€230,184 | |
| Remuneration, social security and pensions | 62 | €12,295 | €0 | -€12,295 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,768 | €18,363 | -€19,405 | -51.4% |
| Other operating charges | 640/8 | €10,045 | €8,244 | -€1,801 | -17.9% |
| Gross operating margin | 9900 | €67,605 | €193,222 | +€125,617 | +185.8% |
| Operating profit (loss) | 9901 | €7,497 | €166,615 | +€159,118 | +2122.5% |
| Financial income | 75/76B | €1,388 | €1 | -€1,387 | -100.0% |
| Recurring financial income | 75 | €1,388 | €1 | -€1,387 | -100.0% |
| Financial charges | 65/66B | €17,971 | €15,658 | -€2,313 | -12.9% |
| Recurring financial charges | 65 | €17,971 | €15,658 | -€2,313 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | -€9,086 | €150,958 | +€160,044 | |
| Income taxes | 67/77 | €430 | €47,115 | +€46,685 | +10868.2% |
| Profit (loss) for the period | 9904 | -€9,516 | €103,843 | +€113,359 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,516 | €103,843 | +€113,359 |
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 29 September 2026 via checked.be.