BELSAL: 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.
BELSAL
Largest movements
- Receivables within one year -€619
down €619 (-27.6%), from €2,243 to €1,624
- Tangible fixed assets -€152
down €152 (-14.3%), from €1,060 to €909
- Other debts +€2,779
new in 2022: €2,779
- Equity -€1,955
down €1,955 (-441.8%), from -€443 to -€2,398
of which Profit (loss) carried forward: -€1,955
- Trade debts -€1,595
down €1,595 (-42.6%), from €3,746 to €2,151
- Other operating charges +€937
new in 2022: €937
- Gross operating margin -€638
down €638 (-728.3%), from -€88 to -€726
- Financial charges +€140
new in 2022: €140
From the 2021 result to the 2022 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,303 | €2,533 | -€771 | -23.3% |
| Fixed assets | 21/28 | €1,060 | €909 | -€152 | -14.3% |
| Tangible fixed assets | 22/27 | €1,060 | €909 | -€152 | -14.3% |
| Plant, machinery and equipment | 23 | - | €909 | +€909 | |
| Current assets | 29/58 | €2,243 | €1,624 | -€619 | -27.6% |
| Amounts receivable within one year | 40/41 | €2,243 | €1,624 | -€619 | -27.6% |
| Other amounts receivable | 41 | - | €1,624 | +€1,624 | |
| Total equity and liabilities | 10/49 | €3,303 | €2,533 | -€771 | -23.3% |
| Equity | 10/15 | -€443 | -€2,398 | -€1,955 | -441.8% |
| Contributions | 10/11 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€20,903 | -€22,858 | -€1,955 | -9.4% |
| Amounts payable | 17/49 | €3,746 | €4,930 | +€1,185 | +31.6% |
| Amounts payable within one year | 42/48 | €3,746 | €4,930 | +€1,185 | +31.6% |
| Trade debts | 44 | €3,746 | €2,151 | -€1,595 | -42.6% |
| Suppliers | 440/4 | - | €2,151 | +€2,151 | |
| Other amounts payable | 47/48 | - | €2,779 | +€2,779 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €152 | €152 | +€0 | 0.0% |
| Other operating charges | 640/8 | - | €937 | +€937 | |
| Gross operating margin | 9900 | -€88 | -€726 | -€638 | -728.3% |
| Operating profit (loss) | 9901 | -€649 | -€1,815 | -€1,166 | -179.8% |
| Financial charges | 65/66B | - | €140 | +€140 | |
| Recurring financial charges | 65 | €215 | €140 | -€74 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | -€863 | -€1,955 | -€1,092 | -126.5% |
| Profit (loss) for the period | 9904 | -€863 | -€1,955 | -€1,092 | -126.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€863 | -€1,955 | -€1,092 | -126.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2021 and 31 March 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.