BELFO: what changed
BELFO
Largest movements
- Intangible fixed assets +€47,917
new in 2024: €47,917
- Cash -€41,931
down €41,931 (-88.7%), from €47,275 to €5,344
mainly Investment in fixed assets (net) (-€51,478) and Tax, wage and social debts (-€39,084)
- Receivables within one year -€38,793
down €38,793 (-90.8%), from €42,737 to €3,945
of which Other amounts receivable: -€41,135
- Tax, wage and social debts -€39,084
no longer reported in 2024 (was €39,084)
of which Taxes: -€39,038
- Other debts +€34,470
new in 2024: €34,470
- Profit (loss) carried forward -€29,241
down €29,241 (-6.9%), from €424,181 to €394,940
- Staff costs +€24,527
up €24,527 (+18,168%), from €135 to €24,662
- Gross operating margin +€18,240
up €18,240, from -€17,358 to €882
- Depreciation +€2,130
up €2,130 (+326%), from €654 to €2,783
- Financial charges -€565
down €565 (-25.5%), from €2,212 to €1,647
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €619,572 | €587,543 | -€32,029 | -5.2% |
| Fixed assets | 21/28 | €207 | €48,902 | +€48,694 | +23,477% |
| Intangible fixed assets | 21 | - | €47,917 | +€47,917 | |
| Tangible fixed assets | 22/27 | €207 | €985 | +€778 | +375% |
| Furniture and vehicles | 24 | €207 | €985 | +€778 | +375% |
| Current assets | 29/58 | €619,364 | €538,641 | -€80,723 | -13.0% |
| Stocks and contracts in progress | 3 | €284,352 | €284,352 | = | 0.0% |
| Stocks | 30/36 | €284,352 | €284,352 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €42,737 | €3,945 | -€38,793 | -90.8% |
| Trade receivables | 40 | - | €2,342 | +€2,342 | |
| Other amounts receivable | 41 | €42,737 | €1,603 | -€41,135 | -96.2% |
| Cash at bank and in hand | 54/58 | €47,275 | €5,344 | -€41,931 | -88.7% |
| Deferred charges and accrued income | 490/1 | €245,000 | €245,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €619,572 | €587,543 | -€32,029 | -5.2% |
| Equity | 10/15 | €580,488 | €551,247 | -€29,241 | -5.0% |
| Contributions | 10/11 | €30,950 | €30,950 | = | 0.0% |
| Reserves | 13 | €125,357 | €125,357 | = | 0.0% |
| Tax-exempt reserves | 132 | €130 | €130 | = | 0.0% |
| Distributable reserves | 133 | €125,228 | €125,228 | = | 0.0% |
| Profit (loss) carried forward | 14 | €424,181 | €394,940 | -€29,241 | -6.9% |
| Amounts payable | 17/49 | €39,084 | €36,296 | -€2,787 | -7.1% |
| Amounts payable within one year | 42/48 | €39,084 | €36,296 | -€2,787 | -7.1% |
| Trade debts | 44 | - | €1,826 | +€1,826 | |
| Suppliers | 440/4 | - | €1,826 | +€1,826 | |
| Taxes, remuneration and social security | 45 | €39,084 | - | -€39,084 | |
| Taxes | 450/3 | €39,038 | - | -€39,038 | |
| Remuneration and social security | 454/9 | €46 | - | -€46 | |
| Other amounts payable | 47/48 | - | €34,470 | +€34,470 | |
| Non-recurring operating income | 76A | - | €60 | +€60 | |
| Remuneration, social security and pensions | 62 | €135 | €24,662 | +€24,527 | +18,168% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €654 | €2,783 | +€2,130 | +326% |
| Other operating charges | 640/8 | €810 | €781 | -€30 | -3.7% |
| Gross operating margin | 9900 | -€17,358 | €882 | +€18,240 | |
| Operating profit (loss) | 9901 | -€18,957 | -€27,344 | -€8,387 | -44.2% |
| Financial charges | 65/66B | €2,212 | €1,647 | -€565 | -25.5% |
| Recurring financial charges | 65 | €2,212 | €1,647 | -€565 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | -€21,169 | -€28,991 | -€7,823 | -37.0% |
| Income taxes | 67/77 | €250 | €250 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€21,419 | -€29,241 | -€7,823 | -36.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,419 | -€29,241 | -€7,823 | -36.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.