Belinox: 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.
Belinox
Largest movements
- Stocks and contracts +€25,392
up €25,392 (+132%), from €19,304 to €44,695
- Tangible fixed assets -€16,472
down €16,472 (-22.5%), from €73,198 to €56,726
of which Leasing and similar rights: -€15,520
- Cash +€6,699
up €6,699 (+42.1%), from €15,897 to €22,596
mainly Net result for the year (+€33,327) and Depreciation (+€26,384)
- Receivables within one year +€5,101
up €5,101 (+16.4%), from €31,042 to €36,143
of which Trade receivables: +€4,391
- Profit (loss) carried forward +€32,127
up €32,127 (+88.5%), from €36,318 to €68,445
- Debts after one year -€13,373
down €13,373 (-41.6%), from €32,115 to €18,741
- Tax, wage and social debts +€6,493
up €6,493 (+52.9%), from €12,274 to €18,767
of which Taxes: +€7,083
- Trade debts -€3,705
down €3,705 (-15.4%), from €24,039 to €20,334
- Gross operating margin +€37,710
up €37,710 (+45.6%), from €82,653 to €120,363
- Staff costs -€13,557
down €13,557 (-23.6%), from €57,393 to €43,836
- Taxes +€10,969
up €10,969 (+3,367%), from €326 to €11,295
- Other operating charges +€2,165
up €2,165 (+181%), from €1,200 to €3,365
- Write-downs -€1,236
no longer reported in 2024 (was €1,236)
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 | €141,065 | €163,250 | +€22,184 | +15.7% |
| Fixed assets | 21/28 | €73,198 | €56,726 | -€16,472 | -22.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €73,198 | €56,726 | -€16,472 | -22.5% |
| Plant, machinery and equipment | 23 | €1,725 | €5,582 | +€3,857 | +224% |
| Furniture and vehicles | 24 | €19,003 | €14,194 | -€4,809 | -25.3% |
| Leasing and similar rights | 25 | €52,470 | €36,950 | -€15,520 | -29.6% |
| Current assets | 29/58 | €67,867 | €106,524 | +€38,656 | +57.0% |
| Stocks and contracts in progress | 3 | €19,304 | €44,695 | +€25,392 | +132% |
| Stocks | 30/36 | €19,304 | €44,695 | +€25,392 | +132% |
| Amounts receivable within one year | 40/41 | €31,042 | €36,143 | +€5,101 | +16.4% |
| Trade receivables | 40 | €30,737 | €35,128 | +€4,391 | +14.3% |
| Other amounts receivable | 41 | €305 | €1,015 | +€710 | +233% |
| Cash at bank and in hand | 54/58 | €15,897 | €22,596 | +€6,699 | +42.1% |
| Deferred charges and accrued income | 490/1 | €1,624 | €3,089 | +€1,465 | +90.2% |
| Total equity and liabilities | 10/49 | €141,065 | €163,250 | +€22,184 | +15.7% |
| Equity | 10/15 | €56,778 | €88,905 | +€32,127 | +56.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,318 | €68,445 | +€32,127 | +88.5% |
| Amounts payable | 17/49 | €84,287 | €74,345 | -€9,942 | -11.8% |
| Amounts payable after more than one year | 17 | €32,115 | €18,741 | -€13,373 | -41.6% |
| Financial debts | 170/4 | €32,115 | €18,741 | -€13,373 | -41.6% |
| Amounts payable within one year | 42/48 | €52,173 | €55,604 | +€3,431 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €12,815 | €13,373 | +€558 | +4.4% |
| Trade debts | 44 | €24,039 | €20,334 | -€3,705 | -15.4% |
| Suppliers | 440/4 | €24,039 | €20,334 | -€3,705 | -15.4% |
| Taxes, remuneration and social security | 45 | €12,274 | €18,767 | +€6,493 | +52.9% |
| Taxes | 450/3 | €5,638 | €12,720 | +€7,083 | +126% |
| Remuneration and social security | 454/9 | €6,636 | €6,047 | -€589 | -8.9% |
| Other amounts payable | 47/48 | €3,045 | €3,129 | +€84 | +2.8% |
| Remuneration, social security and pensions | 62 | €57,393 | €43,836 | -€13,557 | -23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,472 | €26,384 | -€88 | -0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,236 | - | -€1,236 | |
| Other operating charges | 640/8 | €1,200 | €3,365 | +€2,165 | +181% |
| Gross operating margin | 9900 | €82,653 | €120,363 | +€37,710 | +45.6% |
| Operating profit (loss) | 9901 | -€3,648 | €46,778 | +€50,426 | |
| Financial income | 75/76B | €30 | €268 | +€238 | +794% |
| Recurring financial income | 75 | €30 | €268 | +€238 | +794% |
| Financial charges | 65/66B | €2,361 | €2,425 | +€63 | +2.7% |
| Recurring financial charges | 65 | €2,361 | €2,425 | +€63 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | -€5,979 | €44,621 | +€50,601 | |
| Income taxes | 67/77 | €326 | €11,295 | +€10,969 | +3,367% |
| Profit (loss) for the period | 9904 | -€6,305 | €33,327 | +€39,632 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,305 | €33,327 | +€39,632 |
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 17 October 2026 via checked.be.