BELGAVIA: 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.
What changed
BELGAVIA
financial year 2023 compared with 2022filed annual accounts (NBB)
Net result for the year
€2.7m
2022 · €937,004+€1.8m
Equity
€100.0m
2022 · €103.8m-€3.8m
Cash
€4.4m
2022 · €5.3m-€887,139
Balance sheet total
€109.2m
2022 · €106.8m+€2.4m
Largest movements
Assets
- Financial fixed assets +€2.6m
up €2.6m (+37.5%), from €7.0m to €9.6m
Equity and liabilities
- Reserves -€6.5m
down €6.5m (-86.7%), from €7.5m to €997,975
of which Distributable reserves: -€6.5m
- Other debts +€6.5m
up €6.5m (+4,433%), from €147,230 to €6.7m
- Profit (loss) carried forward +€2.7m
up €2.7m (+2.8%), from €95.8m to €98.5m
Income statement
- Financial income +€3.6m
up €3.6m (+96.5%), from €3.7m to €7.3m
- Financial charges +€1.5m
up €1.5m (+127%), from €1.2m to €2.7m
of which Financial charges: +€1.7m
- Taxes +€600,447
up €600,447 (+118%), from €507,565 to €1.1m
- Gross operating margin -€76,252
down €76,252 (-16.2%), from -€469,893 to -€546,145
- Depreciation -€19,886
down €19,886 (-85.0%), from €23,403 to €3,517
From the 2022 result to the 2023 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.
Result 2022
€937,004
Gross operating margin
-€76,252
Depreciation
+€19,886
Other operating charges
+€15,421
Other operating items
+€367,915
Financial income
+€3.6m
Financial charges
-€1.5m
Taxes
-€600,447
Result 2023
€2.7m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€8.9m
Investment
-€3.3m
Financing
-€6.5m
Cash 2022
€5.3m
From operations (derived)
+€8.9m
Net result for the year
+€2.7m
Depreciation
+€3,517
Smaller working-capital items
+€460
Receivables within one year
-€31,374
Trade debts
+€43,940
Tax, wage and social debts
+€155,895
Other debts
+€6.5m
Accrued charges and deferred income
-€530,853
Investment (derived)
-€3.3m
Investment in fixed assets (net)
-€2.6m
Current investments
-€641,031
Financing
-€6.5m
Contributions, distributions and other
-€6.5m
Cash 2023
€4.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €106,814,947 | €109,206,700 | +€2.4m | +2.2% |
| Fixed assets | 21/28 | €6,961,894 | €9,568,840 | +€2.6m | +37.4% |
| Tangible fixed assets | 22/27 | €8,659 | €7,300 | -€1,358 | -15.7% |
| Furniture and vehicles | 24 | €8,659 | €7,300 | -€1,358 | -15.7% |
| Financial fixed assets | 28 | €6,953,235 | €9,561,540 | +€2.6m | +37.5% |
| Current assets | 29/58 | €99,853,053 | €99,637,860 | -€215,193 | -0.2% |
| Amounts receivable after more than one year | 29 | €644,187 | €643,332 | -€856 | -0.1% |
| Other amounts receivable | 291 | €644,187 | €643,332 | -€856 | -0.1% |
| Amounts receivable within one year | 40/41 | €12,691 | €44,065 | +€31,374 | +247% |
| Trade receivables | 40 | €2,400 | €39,400 | +€37,000 | +1,542% |
| Other amounts receivable | 41 | €10,291 | €4,665 | -€5,626 | -54.7% |
| Current investments | 50/53 | €93,937,812 | €94,578,843 | +€641,031 | +0.7% |
| Cash at bank and in hand | 54/58 | €5,253,335 | €4,366,196 | -€887,139 | -16.9% |
| Deferred charges and accrued income | 490/1 | €5,029 | €5,424 | +€395 | +7.9% |
| Total equity and liabilities | 10/49 | €106,814,947 | €109,206,700 | +€2.4m | +2.2% |
| Equity | 10/15 | €103,784,239 | €99,980,058 | -€3.8m | -3.7% |
| Contributions | 10/11 | €450,000 | €450,000 | = | 0.0% |
| Capital | 10 | €450,000 | €450,000 | = | 0.0% |
| Issued capital | 100 | €450,000 | €450,000 | = | 0.0% |
| Reserves | 13 | €7,525,422 | €997,975 | -€6.5m | -86.7% |
| Non-distributable reserves | 130/1 | €45,000 | €45,000 | = | 0.0% |
| Legal reserve | 130 | €45,000 | €45,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,975 | €2,975 | = | 0.0% |
| Distributable reserves | 133 | €7,477,447 | €950,000 | -€6.5m | -87.3% |
| Profit (loss) carried forward | 14 | €95,808,817 | €98,532,083 | +€2.7m | +2.8% |
| Amounts payable | 17/49 | €3,030,709 | €9,226,642 | +€6.2m | +204% |
| Amounts payable within one year | 42/48 | €644,999 | €7,371,786 | +€6.7m | +1,043% |
| Trade debts | 44 | €77,142 | €121,083 | +€43,940 | +57.0% |
| Suppliers | 440/4 | €77,142 | €121,083 | +€43,940 | +57.0% |
| Taxes, remuneration and social security | 45 | €420,627 | €576,521 | +€155,895 | +37.1% |
| Taxes | 450/3 | €420,627 | €576,521 | +€155,895 | +37.1% |
| Other amounts payable | 47/48 | €147,230 | €6,674,182 | +€6.5m | +4,433% |
| Accrued charges and deferred income | 492/3 | €2,385,709 | €1,854,857 | -€530,853 | -22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,403 | €3,517 | -€19,886 | -85.0% |
| Other operating charges | 640/8 | €209,438 | €194,016 | -€15,421 | -7.4% |
| Non-recurring operating charges | 66A | €367,915 | €0 | -€367,915 | -100% |
| Gross operating margin | 9900 | -€469,893 | -€546,145 | -€76,252 | -16.2% |
| Operating profit (loss) | 9901 | -€1,070,649 | -€743,679 | +€326,970 | +30.5% |
| Financial income | 75/76B | €3,704,602 | €7,280,041 | +€3.6m | +96.5% |
| Recurring financial income | 75 | €3,704,602 | €7,280,041 | +€3.6m | +96.5% |
| Financial charges | 65/66B | €1,189,384 | €2,705,083 | +€1.5m | +127% |
| Recurring financial charges | 65 | €1,003,243 | €2,705,083 | +€1.7m | +170% |
| Non-recurring financial charges | 66B | €186,141 | €0 | -€186,141 | -100% |
| Profit (loss) for the period before taxes | 9903 | €1,444,569 | €3,831,279 | +€2.4m | +165% |
| Income taxes | 67/77 | €507,565 | €1,108,012 | +€600,447 | +118% |
| Profit (loss) for the period | 9904 | €937,004 | €2,723,266 | +€1.8m | +191% |
| Profit (loss) for the period to be appropriated | 9905 | €937,004 | €2,723,266 | +€1.8m | +191% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.