BELMEDU: 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.
BELMEDU
Largest movements
- Receivables within one year +€37,544
up €37,544 (+1,520%), from €2,470 to €40,014
of which Trade receivables: +€37,537
- Cash -€23,850
down €23,850 (-14.7%), from €162,622 to €138,772
mainly Receivables within one year (-€37,544) and Investment in fixed assets (net) (-€17,246)
- Trade debts +€14,790
up €14,790 (+78.6%), from €18,818 to €33,609
- Other debts -€7,981
down €7,981 (-6.6%), from €120,043 to €112,062
- Profit (loss) carried forward +€7,830
up €7,830 (+20.3%), from -€38,609 to -€30,779
- Gross operating margin +€11,042
up €11,042 (+39.9%), from €27,688 to €38,730
- Depreciation +€3,405
up €3,405 (+21.0%), from €16,197 to €19,602
- Taxes +€1,929
up €1,929 (+125%), from €1,546 to €3,475
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 | €374,555 | €385,892 | +€11,337 | +3.0% |
| Fixed assets | 21/28 | €209,463 | €207,106 | -€2,356 | -1.1% |
| Tangible fixed assets | 22/27 | €209,463 | €207,106 | -€2,356 | -1.1% |
| Land and buildings | 22 | €175,640 | €162,388 | -€13,252 | -7.5% |
| Other tangible fixed assets | 26 | €33,822 | €44,718 | +€10,896 | +32.2% |
| Current assets | 29/58 | €165,092 | €178,786 | +€13,694 | +8.3% |
| Amounts receivable within one year | 40/41 | €2,470 | €40,014 | +€37,544 | +1,520% |
| Trade receivables | 40 | €2,470 | €40,007 | +€37,537 | +1,520% |
| Other amounts receivable | 41 | - | €7 | +€7 | |
| Cash at bank and in hand | 54/58 | €162,622 | €138,772 | -€23,850 | -14.7% |
| Total equity and liabilities | 10/49 | €374,555 | €385,892 | +€11,337 | +3.0% |
| Equity | 10/15 | €226,983 | €234,812 | +€7,830 | +3.4% |
| Contributions | 10/11 | €198,315 | €198,315 | = | 0.0% |
| Reserves | 13 | €67,277 | €67,277 | = | 0.0% |
| Distributable reserves | 133 | €67,277 | €67,277 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,609 | -€30,779 | +€7,830 | +20.3% |
| Amounts payable | 17/49 | €147,572 | €151,080 | +€3,508 | +2.4% |
| Amounts payable within one year | 42/48 | €147,572 | €150,692 | +€3,120 | +2.1% |
| Trade debts | 44 | €18,818 | €33,609 | +€14,790 | +78.6% |
| Suppliers | 440/4 | €18,818 | €33,609 | +€14,790 | +78.6% |
| Taxes, remuneration and social security | 45 | €8,710 | €5,022 | -€3,689 | -42.3% |
| Taxes | 450/3 | €8,710 | €5,022 | -€3,689 | -42.3% |
| Other amounts payable | 47/48 | €120,043 | €112,062 | -€7,981 | -6.6% |
| Accrued charges and deferred income | 492/3 | - | €387 | +€387 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,197 | €19,602 | +€3,405 | +21.0% |
| Other operating charges | 640/8 | €7,425 | €7,777 | +€352 | +4.7% |
| Gross operating margin | 9900 | €27,688 | €38,730 | +€11,042 | +39.9% |
| Operating profit (loss) | 9901 | €4,067 | €11,351 | +€7,284 | +179% |
| Financial charges | 65/66B | €63 | €46 | -€17 | -27.0% |
| Recurring financial charges | 65 | €63 | €46 | -€17 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | €4,004 | €11,305 | +€7,301 | +182% |
| Income taxes | 67/77 | €1,546 | €3,475 | +€1,929 | +125% |
| Profit (loss) for the period | 9904 | €2,458 | €7,830 | +€5,372 | +219% |
| Profit (loss) for the period to be appropriated | 9905 | €2,458 | €7,830 | +€5,372 | +219% |
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 20 October 2026 via checked.be.