BELMAY: 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.
BELMAY
Largest movements
- Tangible fixed assets -€32,519
down €32,519 (-58.1%), from €55,983 to €23,463
- Cash -€24,877
down €24,877 (-55.2%), from €45,059 to €20,182
mainly Other debts (-€25,660) and Trade debts (-€18,428)
- Receivables within one year +€9,954
up €9,954 (+16.1%), from €61,857 to €71,812
of which Other amounts receivable: +€16,116
- Other debts -€25,660
no longer reported in 2024 (was €25,660)
- Trade debts -€18,428
down €18,428 (-58.2%), from €31,676 to €13,248
- Profit (loss) carried forward -€7,237
down €7,237 (-8.2%), from €88,527 to €81,289
- Tax, wage and social debts +€3,883
up €3,883 (+11.2%), from €34,563 to €38,446
of which Taxes: +€10,714
- Gross operating margin -€18,980
down €18,980 (-7.8%), from €243,757 to €224,776
- Turnover -€17,921
down €17,921 (-3.6%), from €500,014 to €482,092
- Taxes +€13,771
up €13,771 (+582.7%), from €2,364 to €16,135
- Staff costs +€9,923
up €9,923 (+6.0%), from €165,645 to €175,568
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 | €191,899 | €144,457 | -€47,442 | -24.7% |
| Fixed assets | 21/28 | €84,983 | €52,463 | -€32,519 | -38.3% |
| Tangible fixed assets | 22/27 | €55,983 | €23,463 | -€32,519 | -58.1% |
| Furniture and vehicles | 24 | €55,983 | €23,463 | -€32,519 | -58.1% |
| Financial fixed assets | 28 | €29,000 | €29,000 | = | 0.0% |
| Current assets | 29/58 | €106,917 | €91,994 | -€14,923 | -14.0% |
| Amounts receivable within one year | 40/41 | €61,857 | €71,812 | +€9,954 | +16.1% |
| Trade receivables | 40 | €54,157 | €47,996 | -€6,162 | -11.4% |
| Other amounts receivable | 41 | €7,700 | €23,816 | +€16,116 | +209.3% |
| Cash at bank and in hand | 54/58 | €45,059 | €20,182 | -€24,877 | -55.2% |
| Total equity and liabilities | 10/49 | €191,899 | €144,457 | -€47,442 | -24.7% |
| Equity | 10/15 | €100,000 | €92,763 | -€7,237 | -7.2% |
| Contributions | 10/11 | €11,473 | €11,473 | = | 0.0% |
| Outside capital | 11 | €11,473 | €11,473 | = | 0.0% |
| Share premium | 1100/10 | €11,473 | €11,473 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,527 | €81,289 | -€7,237 | -8.2% |
| Amounts payable | 17/49 | €91,899 | €51,694 | -€40,205 | -43.7% |
| Amounts payable within one year | 42/48 | €91,899 | €51,694 | -€40,205 | -43.7% |
| Trade debts | 44 | €31,676 | €13,248 | -€18,428 | -58.2% |
| Suppliers | 440/4 | €31,676 | €13,248 | -€18,428 | -58.2% |
| Taxes, remuneration and social security | 45 | €34,563 | €38,446 | +€3,883 | +11.2% |
| Taxes | 450/3 | €13,753 | €24,467 | +€10,714 | +77.9% |
| Remuneration and social security | 454/9 | €20,809 | €13,979 | -€6,830 | -32.8% |
| Other amounts payable | 47/48 | €25,660 | - | -€25,660 | |
| Turnover | 70 | €500,014 | €482,092 | -€17,921 | -3.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €256,257 | €257,316 | +€1,059 | +0.4% |
| Remuneration, social security and pensions | 62 | €165,645 | €175,568 | +€9,923 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,242 | €32,519 | -€723 | -2.2% |
| Other operating charges | 640/8 | €2,333 | €4,041 | +€1,708 | +73.2% |
| Gross operating margin | 9900 | €243,757 | €224,776 | -€18,980 | -7.8% |
| Operating profit (loss) | 9901 | €42,536 | €12,648 | -€29,888 | -70.3% |
| Financial income | 75/76B | €26 | €336 | +€310 | +1205.0% |
| Recurring financial income | 75 | €13 | €331 | +€318 | +2503.9% |
| Non-recurring financial income | 76B | €13 | €5 | -€8 | -64.0% |
| Financial charges | 65/66B | €775 | €4,086 | +€3,311 | +427.3% |
| Recurring financial charges | 65 | €221 | €13 | -€208 | -94.1% |
| Non-recurring financial charges | 66B | €554 | €4,073 | +€3,519 | +635.0% |
| Profit (loss) for the period before taxes | 9903 | €41,787 | €8,898 | -€32,889 | -78.7% |
| Income taxes | 67/77 | €2,364 | €16,135 | +€13,771 | +582.7% |
| Profit (loss) for the period | 9904 | €39,423 | -€7,237 | -€46,660 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,423 | -€7,237 | -€46,660 |
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 30 September 2026 via checked.be.