BELGIAN PROTECTION MATERIALS: 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.
BELGIAN PROTECTION MATERIALS
Largest movements
- Receivables within one year -€34,281
down €34,281 (-27.9%), from €122,680 to €88,400
of which Trade receivables: -€22,577
- Tangible fixed assets -€25,204
down €25,204 (-75.9%), from €33,214 to €8,010
of which Land and buildings: -€24,506
- Current investments -€4,218
no longer reported in 2024 (was €4,218)
- Stocks and contracts -€3,800
down €3,800 (-4.8%), from €79,100 to €75,300
- Cash +€2,605
new in 2024: €2,605
mainly Other debts (+€49,568) and Receivables within one year (+€34,281)
- Profit (loss) carried forward -€66,873
down €66,873 (-17.4%), from -€384,991 to -€451,864
- Debts after one year -€50,650
down €50,650 (-24.1%), from €210,485 to €159,835
of which Financial debts: -€50,650
- Other debts +€49,568
up €49,568 (+1,795%), from €2,761 to €52,329
- Tax, wage and social debts +€26,728
up €26,728 (+60.4%), from €44,238 to €70,966
of which Taxes: +€31,531
- Trade debts -€19,822
down €19,822 (-28.7%), from €69,163 to €49,342
- Gross operating margin +€163,069
up €163,069, from -€106,575 to €56,494
- Financial charges +€13,451
up €13,451 (+26.0%), from €51,731 to €65,182
- Staff costs -€9,537
down €9,537 (-27.2%), from €35,060 to €25,523
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 | €240,237 | €176,485 | -€63,751 | -26.5% |
| Fixed assets | 21/28 | €34,239 | €10,180 | -€24,059 | -70.3% |
| Tangible fixed assets | 22/27 | €33,214 | €8,010 | -€25,204 | -75.9% |
| Land and buildings | 22 | €31,422 | €6,915 | -€24,506 | -78.0% |
| Plant, machinery and equipment | 23 | €132 | €56 | -€77 | -58.0% |
| Furniture and vehicles | 24 | €206 | €39 | -€167 | -81.1% |
| Other tangible fixed assets | 26 | €1,454 | €1,000 | -€454 | -31.2% |
| Financial fixed assets | 28 | €1,025 | €2,170 | +€1,145 | +112% |
| Current assets | 29/58 | €205,998 | €166,305 | -€39,693 | -19.3% |
| Stocks and contracts in progress | 3 | €79,100 | €75,300 | -€3,800 | -4.8% |
| Stocks | 30/36 | €79,100 | €75,300 | -€3,800 | -4.8% |
| Amounts receivable within one year | 40/41 | €122,680 | €88,400 | -€34,281 | -27.9% |
| Trade receivables | 40 | €93,201 | €70,624 | -€22,577 | -24.2% |
| Other amounts receivable | 41 | €29,479 | €17,776 | -€11,704 | -39.7% |
| Current investments | 50/53 | €4,218 | - | -€4,218 | |
| Cash at bank and in hand | 54/58 | - | €2,605 | +€2,605 | |
| Total equity and liabilities | 10/49 | €240,237 | €176,485 | -€63,751 | -26.5% |
| Equity | 10/15 | -€314,896 | -€381,770 | -€66,873 | -21.2% |
| Contributions | 10/11 | €68,592 | €68,592 | = | 0.0% |
| Reserves | 13 | €1,503 | €1,503 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,503 | €1,503 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,503 | €1,503 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€384,991 | -€451,864 | -€66,873 | -17.4% |
| Amounts payable | 17/49 | €555,133 | €558,255 | +€3,122 | +0.6% |
| Amounts payable after more than one year | 17 | €210,485 | €159,835 | -€50,650 | -24.1% |
| Financial debts | 170/4 | €160,485 | €109,835 | -€50,650 | -31.6% |
| Other amounts payable | 178/9 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €344,649 | €397,523 | +€52,875 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €77,991 | €73,317 | -€4,674 | -6.0% |
| Financial debts | 43 | €150,495 | €151,570 | +€1,075 | +0.7% |
| Credit institutions | 430/8 | €150,495 | €151,570 | +€1,075 | +0.7% |
| Trade debts | 44 | €69,163 | €49,342 | -€19,822 | -28.7% |
| Suppliers | 440/4 | €69,163 | €49,342 | -€19,822 | -28.7% |
| Taxes, remuneration and social security | 45 | €44,238 | €70,966 | +€26,728 | +60.4% |
| Taxes | 450/3 | €35,948 | €67,479 | +€31,531 | +87.7% |
| Remuneration and social security | 454/9 | €8,290 | €3,487 | -€4,803 | -57.9% |
| Other amounts payable | 47/48 | €2,761 | €52,329 | +€49,568 | +1,795% |
| Accrued charges and deferred income | 492/3 | - | €897 | +€897 | |
| Remuneration, social security and pensions | 62 | €35,060 | €25,523 | -€9,537 | -27.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,367 | €25,204 | -€163 | -0.6% |
| Other operating charges | 640/8 | €7,390 | €7,527 | +€137 | +1.9% |
| Gross operating margin | 9900 | -€106,575 | €56,494 | +€163,069 | |
| Operating profit (loss) | 9901 | -€174,393 | -€1,760 | +€172,633 | +99.0% |
| Financial income | 75/76B | €314 | €625 | +€312 | +99.3% |
| Recurring financial income | 75 | €314 | €625 | +€312 | +99.3% |
| Financial charges | 65/66B | €51,731 | €65,182 | +€13,451 | +26.0% |
| Recurring financial charges | 65 | €51,731 | €65,182 | +€13,451 | +26.0% |
| Profit (loss) for the period before taxes | 9903 | -€225,810 | -€66,317 | +€159,493 | +70.6% |
| Income taxes | 67/77 | €897 | €556 | -€341 | -38.0% |
| Profit (loss) for the period | 9904 | -€226,707 | -€66,873 | +€159,833 | +70.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€226,707 | -€66,873 | +€159,833 | +70.5% |
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 26 October 2026 via checked.be.