BELGOFEU: 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.
BELGOFEU
Largest movements
- Tangible fixed assets -€8,598
down €8,598 (-32.3%), from €26,596 to €17,998
of which Furniture and vehicles: -€8,119
- Intangible fixed assets -€7,143
down €7,143 (-19.1%), from €37,457 to €30,314
- Receivables within one year +€4,760
up €4,760 (+36.4%), from €13,077 to €17,837
of which Trade receivables: +€4,710
- Cash -€1,553
down €1,553 (-10.3%), from €15,024 to €13,471
mainly Other debts (-€22,152) and Debts after one year (-€11,588)
- Deferred charges and accrued income -€1,463
down €1,463 (-51.7%), from €2,830 to €1,367
- Other debts -€22,152
down €22,152 (-81.6%), from €27,137 to €4,984
- Debts after one year -€11,588
down €11,588 (-24.6%), from €47,074 to €35,487
- Trade debts +€6,738
up €6,738 (+87.4%), from €7,711 to €14,449
- Tax, wage and social debts +€5,871
up €5,871 (+99.8%), from €5,884 to €11,755
of which Taxes: +€4,071
- Profit (loss) carried forward +€4,211
no longer reported in 2024 (was -€4,211)
- Gross operating margin +€5,550
up €5,550 (+25.1%), from €22,154 to €27,704
- Taxes +€1,985
up €1,985 (+113%), from €1,758 to €3,743
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 | €96,000 | €81,633 | -€14,367 | -15.0% |
| Fixed assets | 21/28 | €64,053 | €48,312 | -€15,741 | -24.6% |
| Intangible fixed assets | 21 | €37,457 | €30,314 | -€7,143 | -19.1% |
| Tangible fixed assets | 22/27 | €26,596 | €17,998 | -€8,598 | -32.3% |
| Plant, machinery and equipment | 23 | €1,555 | €1,076 | -€479 | -30.8% |
| Furniture and vehicles | 24 | €25,041 | €16,922 | -€8,119 | -32.4% |
| Current assets | 29/58 | €31,947 | €33,321 | +€1,374 | +4.3% |
| Stocks and contracts in progress | 3 | €1,015 | €645 | -€370 | -36.5% |
| Stocks | 30/36 | €1,015 | €645 | -€370 | -36.5% |
| Amounts receivable within one year | 40/41 | €13,077 | €17,837 | +€4,760 | +36.4% |
| Trade receivables | 40 | €12,968 | €17,678 | +€4,710 | +36.3% |
| Other amounts receivable | 41 | €109 | €159 | +€50 | +46.0% |
| Cash at bank and in hand | 54/58 | €15,024 | €13,471 | -€1,553 | -10.3% |
| Deferred charges and accrued income | 490/1 | €2,830 | €1,367 | -€1,463 | -51.7% |
| Total equity and liabilities | 10/49 | €96,000 | €81,633 | -€14,367 | -15.0% |
| Equity | 10/15 | -€3,211 | €3,371 | +€6,583 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | €1,000 | €1,000 | = | 0.0% |
| Issued capital | 100 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €2,371 | +€2,371 | |
| Distributable reserves | 133 | - | €2,371 | +€2,371 | |
| Profit (loss) carried forward | 14 | -€4,211 | - | +€4,211 | |
| Amounts payable | 17/49 | €99,211 | €78,262 | -€20,949 | -21.1% |
| Amounts payable after more than one year | 17 | €47,074 | €35,487 | -€11,588 | -24.6% |
| Financial debts | 170/4 | €47,074 | €35,487 | -€11,588 | -24.6% |
| Amounts payable within one year | 42/48 | €52,137 | €42,775 | -€9,362 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €11,406 | €11,588 | +€182 | +1.6% |
| Trade debts | 44 | €7,711 | €14,449 | +€6,738 | +87.4% |
| Suppliers | 440/4 | €7,711 | €14,449 | +€6,738 | +87.4% |
| Taxes, remuneration and social security | 45 | €5,884 | €11,755 | +€5,871 | +99.8% |
| Taxes | 450/3 | €5,884 | €9,955 | +€4,071 | +69.2% |
| Remuneration and social security | 454/9 | €0 | €1,800 | +€1,800 | |
| Other amounts payable | 47/48 | €27,137 | €4,984 | -€22,152 | -81.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,582 | €15,741 | +€159 | +1.0% |
| Non-recurring operating charges | 66A | €200 | €63 | -€137 | -68.5% |
| Gross operating margin | 9900 | €22,154 | €27,704 | +€5,550 | +25.1% |
| Operating profit (loss) | 9901 | €6,372 | €11,900 | +€5,529 | +86.8% |
| Financial income | 75/76B | €72 | €11 | -€61 | -84.9% |
| Recurring financial income | 75 | €72 | €11 | -€61 | -84.9% |
| Financial charges | 65/66B | €1,615 | €1,586 | -€30 | -1.8% |
| Recurring financial charges | 65 | €1,615 | €1,586 | -€30 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €4,828 | €10,326 | +€5,498 | +114% |
| Income taxes | 67/77 | €1,758 | €3,743 | +€1,985 | +113% |
| Profit (loss) for the period | 9904 | €3,070 | €6,583 | +€3,513 | +114% |
| Profit (loss) for the period to be appropriated | 9905 | €3,070 | €6,583 | +€3,513 | +114% |
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 14 October 2026 via checked.be.