BELMARES: 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.
BELMARES
Largest movements
- Stocks and contracts -€21,500
down €21,500 (-66.4%), from €32,400 to €10,900
- Receivables within one year +€10,953
up €10,953 (+587%), from €1,867 to €12,821
- Cash +€5,228
up €5,228 (+1,760%), from €297 to €5,525
mainly Net result for the year (+€22,213) and Stocks and contracts (+€21,500)
- Tangible fixed assets -€1,186
down €1,186 (-7.9%), from €15,068 to €13,882
of which Other tangible fixed assets: -€671
- Trade debts -€33,055
down €33,055 (-73.0%), from €45,275 to €12,220
- Profit (loss) carried forward +€22,213
up €22,213, from -€19,364 to €2,850
- Tax, wage and social debts +€4,571
up €4,571 (+32.3%), from €14,159 to €18,730
of which Remuneration and social security: +€2,853
- Gross operating margin +€38,426
up €38,426 (+67.9%), from €56,613 to €95,039
- Staff costs +€24,928
up €24,928 (+56.1%), from €44,402 to €69,331
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 | €55,304 | €48,800 | -€6,505 | -11.8% |
| Fixed assets | 21/28 | €20,740 | €19,554 | -€1,186 | -5.7% |
| Tangible fixed assets | 22/27 | €15,068 | €13,882 | -€1,186 | -7.9% |
| Furniture and vehicles | 24 | €515 | - | -€515 | |
| Other tangible fixed assets | 26 | €14,553 | €13,882 | -€671 | -4.6% |
| Financial fixed assets | 28 | €5,672 | €5,672 | = | 0.0% |
| Current assets | 29/58 | €34,565 | €29,246 | -€5,319 | -15.4% |
| Stocks and contracts in progress | 3 | €32,400 | €10,900 | -€21,500 | -66.4% |
| Stocks | 30/36 | €32,400 | €10,900 | -€21,500 | -66.4% |
| Amounts receivable within one year | 40/41 | €1,867 | €12,821 | +€10,953 | +587% |
| Trade receivables | 40 | €1,867 | €12,821 | +€10,953 | +587% |
| Cash at bank and in hand | 54/58 | €297 | €5,525 | +€5,228 | +1,760% |
| Total equity and liabilities | 10/49 | €55,304 | €48,800 | -€6,505 | -11.8% |
| Equity | 10/15 | -€4,364 | €17,850 | +€22,213 | |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,364 | €2,850 | +€22,213 | |
| Amounts payable | 17/49 | €59,668 | €30,950 | -€28,718 | -48.1% |
| Amounts payable within one year | 42/48 | €59,668 | €30,950 | -€28,718 | -48.1% |
| Trade debts | 44 | €45,275 | €12,220 | -€33,055 | -73.0% |
| Suppliers | 440/4 | €45,275 | €12,220 | -€33,055 | -73.0% |
| Taxes, remuneration and social security | 45 | €14,159 | €18,730 | +€4,571 | +32.3% |
| Taxes | 450/3 | €5,538 | €7,255 | +€1,718 | +31.0% |
| Remuneration and social security | 454/9 | €8,621 | €11,475 | +€2,853 | +33.1% |
| Other amounts payable | 47/48 | €234 | - | -€234 | |
| Remuneration, social security and pensions | 62 | €44,402 | €69,331 | +€24,928 | +56.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,489 | €2,591 | +€102 | +4.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€68 | - | +€68 | |
| Other operating charges | 640/8 | - | €848 | +€848 | |
| Gross operating margin | 9900 | €56,613 | €95,039 | +€38,426 | +67.9% |
| Operating profit (loss) | 9901 | €9,789 | €22,269 | +€12,479 | +127% |
| Financial income | 75/76B | €184 | €87 | -€97 | -52.9% |
| Recurring financial income | 75 | €184 | €87 | -€97 | -52.9% |
| Financial charges | 65/66B | €132 | €142 | +€10 | +7.4% |
| Recurring financial charges | 65 | €132 | €142 | +€10 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €9,841 | €22,213 | +€12,372 | +126% |
| Profit (loss) for the period | 9904 | €9,841 | €22,213 | +€12,372 | +126% |
| Profit (loss) for the period to be appropriated | 9905 | €9,841 | €22,213 | +€12,372 | +126% |
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.