BELMON: 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.
BELMON
Largest movements
- Tangible fixed assets +€640,054
up €640,054 (+11385.2%), from €5,622 to €645,676
of which Land and buildings: +€642,388
- Cash -€110,982
down €110,982 (-38.3%), from €289,839 to €178,857
mainly Investment in fixed assets (net) (-€647,660) and Receivables within one year (-€20,360)
- Receivables within one year +€20,360
up €20,360 (+55.1%), from €36,951 to €57,310
of which Trade receivables: +€28,237
- Debts after one year +€466,302
new in 2024: €466,302
- Reserves +€69,786
up €69,786 (+30.9%), from €225,958 to €295,744
- Current portion of long-term debt +€26,663
new in 2024: €26,663
- Gross operating margin +€34,111
up €34,111 (+32.3%), from €105,680 to €139,791
- Other operating charges +€25,507
up €25,507 (+3961.8%), from €644 to €26,151
- Depreciation +€5,207
up €5,207 (+217.1%), from €2,399 to €7,606
- Financial charges +€5,098
up €5,098 (+646.6%), from €788 to €5,886
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 | €332,712 | €882,137 | +€549,425 | +165.1% |
| Fixed assets | 21/28 | €5,622 | €645,676 | +€640,054 | +11385.2% |
| Tangible fixed assets | 22/27 | €5,622 | €645,676 | +€640,054 | +11385.2% |
| Land and buildings | 22 | - | €642,388 | +€642,388 | |
| Furniture and vehicles | 24 | €5,622 | €3,288 | -€2,334 | -41.5% |
| Current assets | 29/58 | €327,090 | €236,461 | -€90,629 | -27.7% |
| Amounts receivable within one year | 40/41 | €36,951 | €57,310 | +€20,360 | +55.1% |
| Trade receivables | 40 | - | €28,237 | +€28,237 | |
| Other amounts receivable | 41 | €36,951 | €29,073 | -€7,877 | -21.3% |
| Cash at bank and in hand | 54/58 | €289,839 | €178,857 | -€110,982 | -38.3% |
| Deferred charges and accrued income | 490/1 | €301 | €294 | -€7 | -2.2% |
| Total equity and liabilities | 10/49 | €332,712 | €882,137 | +€549,425 | +165.1% |
| Equity | 10/15 | €299,506 | €369,292 | +€69,786 | +23.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €225,958 | €295,744 | +€69,786 | +30.9% |
| Distributable reserves | 133 | €225,958 | €295,744 | +€69,786 | +30.9% |
| Profit (loss) carried forward | 14 | €61,148 | €61,148 | = | 0.0% |
| Amounts payable | 17/49 | €33,206 | €512,845 | +€479,638 | +1444.4% |
| Amounts payable after more than one year | 17 | - | €466,302 | +€466,302 | |
| Financial debts | 170/4 | - | €466,302 | +€466,302 | |
| Amounts payable within one year | 42/48 | €33,206 | €46,542 | +€13,336 | +40.2% |
| Current portion of amounts payable after more than one year | 42 | - | €26,663 | +€26,663 | |
| Financial debts | 43 | €2,497 | €0 | -€2,497 | -100.0% |
| Credit institutions | 430/8 | €2,497 | €0 | -€2,497 | -100.0% |
| Trade debts | 44 | €3,038 | €889 | -€2,149 | -70.7% |
| Suppliers | 440/4 | €3,038 | €889 | -€2,149 | -70.7% |
| Taxes, remuneration and social security | 45 | €27,671 | €18,991 | -€8,680 | -31.4% |
| Taxes | 450/3 | €24,171 | €18,991 | -€5,180 | -21.4% |
| Remuneration and social security | 454/9 | €3,500 | €0 | -€3,500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,399 | €7,606 | +€5,207 | +217.1% |
| Other operating charges | 640/8 | €644 | €26,151 | +€25,507 | +3961.8% |
| Gross operating margin | 9900 | €105,680 | €139,791 | +€34,111 | +32.3% |
| Operating profit (loss) | 9901 | €102,637 | €106,035 | +€3,398 | +3.3% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €788 | €5,886 | +€5,098 | +646.6% |
| Recurring financial charges | 65 | €788 | €5,886 | +€5,098 | +646.6% |
| Profit (loss) for the period before taxes | 9903 | €101,849 | €100,148 | -€1,700 | -1.7% |
| Income taxes | 67/77 | €29,198 | €30,362 | +€1,164 | +4.0% |
| Profit (loss) for the period | 9904 | €72,651 | €69,786 | -€2,865 | -3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €72,651 | €69,786 | -€2,865 | -3.9% |
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.