BELS: 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.
BELS
Largest movements
- Receivables within one year -€24,908
down €24,908 (-64.0%), from €38,943 to €14,035
of which Trade receivables: -€29,083
- Cash -€22,338
down €22,338 (-17.0%), from €131,619 to €109,281
mainly Net result for the year (-€39,618) and Investment in fixed assets (net) (-€16,413)
- Reserves -€39,618
down €39,618 (-20.3%), from €195,575 to €155,957
of which Distributable reserves: -€39,618
- Other debts -€4,420
down €4,420 (-22.0%), from €20,122 to €15,702
- Trade debts -€3,373
down €3,373 (-14.2%), from €23,746 to €20,372
- Gross operating margin -€306,454
down €306,454, from €292,744 to -€13,711
- Financial income -€18,357
down €18,357 (-100.0%), from €18,357 to €0
- Taxes -€14,236
down €14,236 (-98.7%), from €14,420 to €185
- Financial charges -€4,731
down €4,731 (-98.8%), from €4,786 to €55
- Depreciation +€4,376
up €4,376 (+34.1%), from €12,833 to €17,209
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 | €316,652 | €269,629 | -€47,023 | -14.8% |
| Fixed assets | 21/28 | €141,070 | €140,274 | -€796 | -0.6% |
| Tangible fixed assets | 22/27 | €141,070 | €140,274 | -€796 | -0.6% |
| Land and buildings | 22 | €84,596 | €85,271 | +€676 | +0.8% |
| Plant, machinery and equipment | 23 | €32,065 | €26,572 | -€5,493 | -17.1% |
| Furniture and vehicles | 24 | €24,409 | €28,431 | +€4,022 | +16.5% |
| Current assets | 29/58 | €175,582 | €129,355 | -€46,227 | -26.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €38,943 | €14,035 | -€24,908 | -64.0% |
| Trade receivables | 40 | €37,882 | €8,800 | -€29,083 | -76.8% |
| Other amounts receivable | 41 | €1,061 | €5,236 | +€4,175 | +393.6% |
| Cash at bank and in hand | 54/58 | €131,619 | €109,281 | -€22,338 | -17.0% |
| Deferred charges and accrued income | 490/1 | €5,020 | €6,039 | +€1,019 | +20.3% |
| Total equity and liabilities | 10/49 | €316,652 | €269,629 | -€47,023 | -14.8% |
| Equity | 10/15 | €257,075 | €217,457 | -€39,618 | -15.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €195,575 | €155,957 | -€39,618 | -20.3% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €189,425 | €149,807 | -€39,618 | -20.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €59,577 | €52,172 | -€7,405 | -12.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €58,891 | €51,372 | -€7,519 | -12.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €23,746 | €20,372 | -€3,373 | -14.2% |
| Suppliers | 440/4 | €23,746 | €20,372 | -€3,373 | -14.2% |
| Taxes, remuneration and social security | 45 | €15,023 | €15,298 | +€275 | +1.8% |
| Taxes | 450/3 | €14,991 | €15,298 | +€307 | +2.0% |
| Remuneration and social security | 454/9 | €32 | €0 | -€32 | -100.0% |
| Other amounts payable | 47/48 | €20,122 | €15,702 | -€4,420 | -22.0% |
| Accrued charges and deferred income | 492/3 | €686 | €800 | +€114 | +16.6% |
| Non-recurring operating income | 76A | €346,311 | €110 | -€346,200 | -100.0% |
| Remuneration, social security and pensions | 62 | -€1,271 | €2,857 | +€4,128 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,833 | €17,209 | +€4,376 | +34.1% |
| Other operating charges | 640/8 | €6,030 | €5,602 | -€428 | -7.1% |
| Non-recurring operating charges | 66A | €173,050 | €0 | -€173,050 | -100.0% |
| Gross operating margin | 9900 | €292,744 | -€13,711 | -€306,454 | |
| Operating profit (loss) | 9901 | €102,103 | -€39,378 | -€141,480 | |
| Financial income | 75/76B | €18,357 | €0 | -€18,357 | -100.0% |
| Recurring financial income | 75 | €18,357 | €0 | -€18,357 | -100.0% |
| Financial charges | 65/66B | €4,786 | €55 | -€4,731 | -98.8% |
| Recurring financial charges | 65 | €4,786 | €55 | -€4,731 | -98.8% |
| Profit (loss) for the period before taxes | 9903 | €115,674 | -€39,433 | -€155,107 | |
| Income taxes | 67/77 | €14,420 | €185 | -€14,236 | -98.7% |
| Profit (loss) for the period | 9904 | €101,254 | -€39,618 | -€140,871 | |
| Profit (loss) for the period to be appropriated | 9905 | €101,254 | -€39,618 | -€140,871 |
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.