BELGEMS: 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.
BELGEMS
Largest movements
- Stocks and contracts +€313,360
up €313,360 (+57.1%), from €548,468 to €861,828
- Receivables within one year +€150,889
up €150,889 (+49.4%), from €305,467 to €456,356
of which Trade receivables: +€150,245
- Trade debts +€266,718
up €266,718 (+94.7%), from €281,593 to €548,311
- Reserves +€148,222
up €148,222 (+62.6%), from €236,612 to €384,834
- Other debts +€44,153
up €44,153 (+12.5%), from €353,070 to €397,223
- Gross operating margin +€95,108
up €95,108 (+184%), from €51,601 to €146,709
- Financial charges -€8,545
down €8,545 (-50.0%), from €17,097 to €8,552
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.
Derived cash bridge
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 | €877,775 | €1,336,868 | +€459,093 | +52.3% |
| Current assets | 29/58 | €877,775 | €1,336,868 | +€459,093 | +52.3% |
| Stocks and contracts in progress | 3 | €548,468 | €861,828 | +€313,360 | +57.1% |
| Stocks | 30/36 | €548,468 | €861,828 | +€313,360 | +57.1% |
| Amounts receivable within one year | 40/41 | €305,467 | €456,356 | +€150,889 | +49.4% |
| Trade receivables | 40 | €305,360 | €455,605 | +€150,245 | +49.2% |
| Other amounts receivable | 41 | €107 | €751 | +€644 | +600% |
| Cash at bank and in hand | 54/58 | €23,384 | €18,684 | -€4,699 | -20.1% |
| Deferred charges and accrued income | 490/1 | €456 | - | -€456 | |
| Total equity and liabilities | 10/49 | €877,775 | €1,336,868 | +€459,093 | +52.3% |
| Equity | 10/15 | €243,112 | €391,334 | +€148,222 | +61.0% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €236,612 | €384,834 | +€148,222 | +62.6% |
| Distributable reserves | 133 | €236,612 | €384,834 | +€148,222 | +62.6% |
| Amounts payable | 17/49 | €634,663 | €945,534 | +€310,871 | +49.0% |
| Amounts payable within one year | 42/48 | €634,663 | €945,534 | +€310,871 | +49.0% |
| Trade debts | 44 | €281,593 | €548,311 | +€266,718 | +94.7% |
| Suppliers | 440/4 | €281,593 | €548,311 | +€266,718 | +94.7% |
| Other amounts payable | 47/48 | €353,070 | €397,223 | +€44,153 | +12.5% |
| Other operating charges | 640/8 | €1,132 | €1,188 | +€56 | +5.0% |
| Gross operating margin | 9900 | €51,601 | €146,709 | +€95,108 | +184% |
| Operating profit (loss) | 9901 | €50,469 | €145,521 | +€95,052 | +188% |
| Financial income | 75/76B | €10,473 | €11,254 | +€781 | +7.5% |
| Recurring financial income | 75 | €10,473 | €11,254 | +€781 | +7.5% |
| Financial charges | 65/66B | €17,097 | €8,552 | -€8,545 | -50.0% |
| Recurring financial charges | 65 | €17,097 | €8,552 | -€8,545 | -50.0% |
| Profit (loss) for the period before taxes | 9903 | €43,844 | €148,222 | +€104,378 | +238% |
| Profit (loss) for the period | 9904 | €43,844 | €148,222 | +€104,378 | +238% |
| Profit (loss) for the period to be appropriated | 9905 | €43,844 | €148,222 | +€104,378 | +238% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.