BELKOS: what changed
Two fiscal 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.
BELKOS
Largest movements
- Receivables within one year -€2,277
down €2,277 (-57.9%), from €3,933 to €1,656
- Cash -€1,815
down €1,815 (-21.1%), from €8,618 to €6,803
mainly Net result for the year (-€7,662) and Tax, wage and social debts (-€639)
- Tangible fixed assets -€1,610
down €1,610 (-24.7%), from €6,528 to €4,918
- Profit (loss) carried forward -€7,662
down €7,662, from €3,777 to -€3,885
- Trade debts +€2,599
up €2,599 (+677.3%), from €384 to €2,983
- Tax, wage and social debts -€639
down €639 (-27.6%), from €2,319 to €1,680
of which Remuneration and social security: -€1,773
- Gross operating margin -€4,889
down €4,889 (-811.9%), from -€602 to -€5,491
- Other operating charges +€460
new in 2024: €460
- Depreciation +€445
up €445 (+38.2%), from €1,165 to €1,610
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.
Cash bridge derived
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 | €25,079 | €19,377 | -€5,702 | -22.7% |
| Fixed assets | 21/28 | €12,528 | €10,918 | -€1,610 | -12.9% |
| Tangible fixed assets | 22/27 | €6,528 | €4,918 | -€1,610 | -24.7% |
| Plant, machinery and equipment | 23 | €6,528 | €4,918 | -€1,610 | -24.7% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €12,551 | €8,459 | -€4,092 | -32.6% |
| Amounts receivable within one year | 40/41 | €3,933 | €1,656 | -€2,277 | -57.9% |
| Other amounts receivable | 41 | €3,933 | €1,656 | -€2,277 | -57.9% |
| Cash at bank and in hand | 54/58 | €8,618 | €6,803 | -€1,815 | -21.1% |
| Total equity and liabilities | 10/49 | €25,079 | €19,377 | -€5,702 | -22.7% |
| Equity | 10/15 | €22,377 | €14,715 | -€7,662 | -34.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,777 | -€3,885 | -€7,662 | |
| Amounts payable | 17/49 | €2,702 | €4,663 | +€1,960 | +72.5% |
| Amounts payable within one year | 42/48 | €2,702 | €4,663 | +€1,960 | +72.5% |
| Trade debts | 44 | €384 | €2,983 | +€2,599 | +677.3% |
| Suppliers | 440/4 | €384 | €2,983 | +€2,599 | +677.3% |
| Taxes, remuneration and social security | 45 | €2,319 | €1,680 | -€639 | -27.6% |
| Taxes | 450/3 | €545 | €1,680 | +€1,135 | +208.2% |
| Remuneration and social security | 454/9 | €1,773 | - | -€1,773 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,165 | €1,610 | +€445 | +38.2% |
| Other operating charges | 640/8 | - | €460 | +€460 | |
| Gross operating margin | 9900 | -€602 | -€5,491 | -€4,889 | -811.9% |
| Operating profit (loss) | 9901 | -€1,767 | -€7,561 | -€5,794 | -327.9% |
| Financial charges | 65/66B | €97 | €101 | +€5 | +4.7% |
| Recurring financial charges | 65 | €97 | €101 | +€5 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,864 | -€7,662 | -€5,798 | -311.1% |
| Profit (loss) for the period | 9904 | -€1,864 | -€7,662 | -€5,798 | -311.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,864 | -€7,662 | -€5,798 | -311.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.