BELCRO PROJECTS: 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.
BELCRO PROJECTS
Largest movements
- Receivables within one year -€8,034
down €8,034 (-63.3%), from €12,693 to €4,659
of which Trade receivables: -€6,383
- Cash +€5,547
up €5,547 (+11909.3%), from €47 to €5,594
mainly Receivables within one year (+€8,034) and Trade debts (+€1,143)
- Stocks and contracts +€3,800
new in 2024: €3,800
- Deferred charges and accrued income -€256
no longer reported in 2024 (was €256)
- Trade debts +€1,143
up €1,143 (+313.1%), from €365 to €1,508
- Tax, wage and social debts -€927
no longer reported in 2024 (was €927)
- Reserves +€840
up €840 (+29.5%), from €2,850 to €3,690
- Gross operating margin +€801
up €801 (+83.9%), from €955 to €1,756
- Financial income -€362
no longer reported in 2024 (was €362)
- Depreciation -€323
no longer reported in 2024 (was €323)
- Taxes +€320
up €320 (+444.2%), from €72 to €392
- Financial charges -€245
down €245 (-76.8%), from €318 to €74
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 | €12,996 | €14,053 | +€1,057 | +8.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Current assets | 29/58 | €12,996 | €14,053 | +€1,057 | +8.1% |
| Stocks and contracts in progress | 3 | - | €3,800 | +€3,800 | |
| Contracts in progress | 37 | - | €3,800 | +€3,800 | |
| Amounts receivable within one year | 40/41 | €12,693 | €4,659 | -€8,034 | -63.3% |
| Trade receivables | 40 | €7,072 | €689 | -€6,383 | -90.3% |
| Other amounts receivable | 41 | €5,621 | €3,970 | -€1,651 | -29.4% |
| Cash at bank and in hand | 54/58 | €47 | €5,594 | +€5,547 | +11909.3% |
| Deferred charges and accrued income | 490/1 | €256 | - | -€256 | |
| Total equity and liabilities | 10/49 | €12,996 | €14,053 | +€1,057 | +8.1% |
| Equity | 10/15 | €11,704 | €12,545 | +€841 | +7.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,850 | €3,690 | +€840 | +29.5% |
| Distributable reserves | 133 | €2,850 | €3,690 | +€840 | +29.5% |
| Profit (loss) carried forward | 14 | €2,654 | €2,655 | +€1 | 0.0% |
| Amounts payable | 17/49 | €1,292 | €1,508 | +€216 | +16.7% |
| Amounts payable within one year | 42/48 | €1,292 | €1,508 | +€216 | +16.7% |
| Trade debts | 44 | €365 | €1,508 | +€1,143 | +313.1% |
| Suppliers | 440/4 | €365 | €1,508 | +€1,143 | +313.1% |
| Taxes, remuneration and social security | 45 | €927 | - | -€927 | |
| Taxes | 450/3 | €927 | - | -€927 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €323 | - | -€323 | |
| Other operating charges | 640/8 | €446 | €449 | +€3 | +0.6% |
| Gross operating margin | 9900 | €955 | €1,756 | +€801 | +83.9% |
| Operating profit (loss) | 9901 | €185 | €1,306 | +€1,122 | +606.7% |
| Financial income | 75/76B | €362 | - | -€362 | |
| Recurring financial income | 75 | €362 | - | -€362 | |
| Financial charges | 65/66B | €318 | €74 | -€245 | -76.8% |
| Recurring financial charges | 65 | €318 | €74 | -€245 | -76.8% |
| Profit (loss) for the period before taxes | 9903 | €228 | €1,233 | +€1,004 | +440.0% |
| Income taxes | 67/77 | €72 | €392 | +€320 | +444.2% |
| Profit (loss) for the period | 9904 | €156 | €841 | +€684 | +438.0% |
| Profit (loss) for the period to be appropriated | 9905 | €156 | €841 | +€684 | +438.0% |
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 2 October 2026 via checked.be.