BELTEC: 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.
What changed
BELTEC
NACE 28.120, Manufacture of machinery and equipment not elsewhere classified
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€121,079
2023 · €361,942-€240,862
Equity
€2.6m
2023 · €2.5m+€112,437
Cash
€128,870
2023 · €136,592-€7,721
Balance sheet total
€11.4m
2023 · €11.3m+€107,275
Largest movements
Assets
- Receivables within one year +€691,071
up €691,071 (+69.4%), from €995,217 to €1.7m
of which Trade receivables: +€693,739
- Stocks and contracts -€616,857
down €616,857 (-16.0%), from €3.9m to €3.2m
- Intangible fixed assets +€239,786
up €239,786 (+88.9%), from €269,714 to €509,500
- Tangible fixed assets -€145,040
down €145,040 (-2.5%), from €5.9m to €5.7m
of which Leasing and similar rights: -€345,889
Equity and liabilities
- Debts after one year +€347,476
up €347,476 (+5.9%), from €5.9m to €6.3m
- Current portion of long-term debt -€251,644
down €251,644 (-21.6%), from €1.2m to €911,355
- Reserves +€121,079
up €121,079 (+5.0%), from €2.4m to €2.5m
of which Distributable reserves: +€144,974
Income statement
- Turnover -€466,524
down €466,524 (-4.1%), from €11.5m to €11.0m
- Goods and materials -€242,610
down €242,610 (-4.6%), from €5.2m to €5.0m
of which Purchases: -€587,579
- Services and other goods +€148,984
up €148,984 (+5.2%), from €2.9m to €3.0m
- Other operating income +€120,983
up €120,983 (+9.0%), from €1.3m to €1.5m
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.
Result 2023
€361,942
Turnover
-€466,524
Other operating income
+€120,983
Goods and materials
+€242,610
Services and other goods
-€148,984
Staff costs
+€56,306
Depreciation
+€104,105
Other operating charges
-€1,379
Other operating items
-€197,602
Financial income
+€1,512
Financial charges
-€16,800
Taxes
+€65,711
Deferred taxes and other
-€800
Result 2024
€121,079
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.
From operations
+€1.1m
Investment
-€1.2m
Financing
+€83,172
Cash 2023
€136,592
From operations (derived)
+€1.1m
Net result for the year
+€121,079
Depreciation
+€1.2m
Stocks and contracts
+€616,857
Receivables within one year
-€691,071
Deferred charges and accrued income
+€38,681
Provisions
-€9,344
Trade debts
-€66,025
Tax, wage and social debts
+€1,451
Accrued charges and deferred income
-€23,058
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€1.2m
Financing
+€83,172
Debts after one year
+€347,476
Current portion of long-term debt
-€251,644
Short-term financial debts
-€4,018
Contributions, distributions and other
-€8,642
Cash 2024
€128,870
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,262,927 | €11,370,202 | +€107,275 | +1.0% |
| Fixed assets | 21/28 | €6,183,506 | €6,262,968 | +€79,463 | +1.3% |
| Intangible fixed assets | 21 | €269,714 | €509,500 | +€239,786 | +88.9% |
| Tangible fixed assets | 22/27 | €5,887,130 | €5,742,090 | -€145,040 | -2.5% |
| Land and buildings | 22 | €4,707,689 | €4,519,949 | -€187,740 | -4.0% |
| Plant, machinery and equipment | 23 | €346,804 | €742,544 | +€395,740 | +114.1% |
| Furniture and vehicles | 24 | €48,910 | €41,758 | -€7,152 | -14.6% |
| Leasing and similar rights | 25 | €783,728 | €437,839 | -€345,889 | -44.1% |
| Financial fixed assets | 28 | €26,662 | €11,378 | -€15,283 | -57.3% |
| Other financial fixed assets | 284/8 | €26,662 | €11,378 | -€15,283 | -57.3% |
| Amounts receivable and cash guarantees | 285/8 | €26,662 | €11,378 | -€15,283 | -57.3% |
| Current assets | 29/58 | €5,079,421 | €5,107,233 | +€27,812 | +0.5% |
| Stocks and contracts in progress | 3 | €3,858,096 | €3,241,239 | -€616,857 | -16.0% |
| Stocks | 30/36 | €3,858,096 | €3,241,239 | -€616,857 | -16.0% |
| Raw materials and consumables | 30/31 | €2,330,046 | €1,701,476 | -€628,570 | -27.0% |
| Work in progress | 32 | €14,595 | €14,461 | -€134 | -0.9% |
| Finished goods | 33 | €1,408,450 | €1,395,714 | -€12,736 | -0.9% |
| Goods purchased for resale | 34 | €105,006 | €129,588 | +€24,582 | +23.4% |
| Amounts receivable within one year | 40/41 | €995,217 | €1,686,288 | +€691,071 | +69.4% |
| Trade receivables | 40 | €980,735 | €1,674,474 | +€693,739 | +70.7% |
| Other amounts receivable | 41 | €14,481 | €11,814 | -€2,668 | -18.4% |
| Cash at bank and in hand | 54/58 | €136,592 | €128,870 | -€7,721 | -5.7% |
| Deferred charges and accrued income | 490/1 | €89,517 | €50,836 | -€38,681 | -43.2% |
| Total equity and liabilities | 10/49 | €11,262,927 | €11,370,202 | +€107,275 | +1.0% |
| Equity | 10/15 | €2,472,666 | €2,585,103 | +€112,437 | +4.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,404,012 | €2,525,092 | +€121,079 | +5.0% |
| Tax-exempt reserves | 132 | €124,514 | €100,619 | -€23,895 | -19.2% |
| Distributable reserves | 133 | €2,279,499 | €2,424,473 | +€144,974 | +6.4% |
| Investment grants | 15 | €50,062 | €41,420 | -€8,642 | -17.3% |
| Provisions and deferred taxes | 16 | €46,624 | €37,280 | -€9,344 | -20.0% |
| Deferred taxes | 168 | €46,624 | €37,280 | -€9,344 | -20.0% |
| Amounts payable | 17/49 | €8,743,636 | €8,747,818 | +€4,182 | 0.0% |
| Amounts payable after more than one year | 17 | €5,909,439 | €6,256,915 | +€347,476 | +5.9% |
| Financial debts | 170/4 | €5,909,439 | €6,256,915 | +€347,476 | +5.9% |
| Leasing and similar obligations | 172 | €454,418 | €168,422 | -€285,996 | -62.9% |
| Credit institutions | 173 | €5,174,852 | €5,792,805 | +€617,952 | +11.9% |
| Other loans | 174 | €280,169 | €295,688 | +€15,519 | +5.5% |
| Amounts payable within one year | 42/48 | €2,694,887 | €2,374,651 | -€320,236 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €1,162,999 | €911,355 | -€251,644 | -21.6% |
| Financial debts | 43 | €338,574 | €334,556 | -€4,018 | -1.2% |
| Credit institutions | 430/8 | €338,574 | €334,556 | -€4,018 | -1.2% |
| Trade debts | 44 | €803,653 | €737,628 | -€66,025 | -8.2% |
| Suppliers | 440/4 | €803,653 | €737,628 | -€66,025 | -8.2% |
| Taxes, remuneration and social security | 45 | €389,662 | €391,113 | +€1,451 | +0.4% |
| Taxes | 450/3 | €68,568 | €82,758 | +€14,190 | +20.7% |
| Remuneration and social security | 454/9 | €321,093 | €308,354 | -€12,739 | -4.0% |
| Accrued charges and deferred income | 492/3 | €139,310 | €116,252 | -€23,058 | -16.6% |
| Operating income | 70/76A | €13,191,657 | €12,648,514 | -€543,143 | -4.1% |
| Turnover | 70 | €11,482,821 | €11,016,297 | -€466,524 | -4.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €371,948 | -€12,869 | -€384,817 | |
| Own construction capitalised | 72 | - | €187,215 | +€187,215 | |
| Other operating income | 74 | €1,336,888 | €1,457,871 | +€120,983 | +9.0% |
| Operating charges | 60/66A | €12,417,991 | €12,165,334 | -€252,658 | -2.0% |
| Goods for resale, raw materials and consumables | 60 | €5,226,227 | €4,983,617 | -€242,610 | -4.6% |
| Purchases | 600/8 | €4,967,209 | €4,379,630 | -€587,579 | -11.8% |
| Change in stocks: decrease (increase) | 609 | €259,018 | €603,988 | +€344,970 | +133.2% |
| Services and other goods | 61 | €2,890,267 | €3,039,251 | +€148,984 | +5.2% |
| Remuneration, social security and pensions | 62 | €2,981,521 | €2,925,215 | -€56,306 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,257,145 | €1,153,040 | -€104,105 | -8.3% |
| Other operating charges | 640/8 | €62,831 | €64,211 | +€1,379 | +2.2% |
| Operating profit (loss) | 9901 | €773,666 | €483,180 | -€290,485 | -37.5% |
| Financial income | 75/76B | €29,982 | €31,495 | +€1,512 | +5.0% |
| Recurring financial income | 75 | €29,982 | €31,495 | +€1,512 | +5.0% |
| Income from financial fixed assets | 750 | €4,190 | €7,682 | +€3,491 | +83.3% |
| Other financial income | 752/9 | €25,792 | €23,813 | -€1,979 | -7.7% |
| Financial charges | 65/66B | €323,018 | €339,819 | +€16,800 | +5.2% |
| Recurring financial charges | 65 | €323,018 | €339,819 | +€16,800 | +5.2% |
| Debt charges | 650 | €289,797 | €313,379 | +€23,581 | +8.1% |
| Other financial charges | 652/9 | €33,221 | €26,440 | -€6,781 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €480,630 | €174,856 | -€305,774 | -63.6% |
| Transfer from deferred taxes | 780 | €10,144 | €9,344 | -€800 | -7.9% |
| Income taxes | 67/77 | €128,832 | €63,121 | -€65,711 | -51.0% |
| Taxes | 670/3 | €128,832 | €63,121 | -€65,711 | -51.0% |
| Profit (loss) for the period | 9904 | €361,942 | €121,079 | -€240,862 | -66.5% |
| Transfer from tax-exempt reserves | 789 | €23,895 | €23,895 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €385,836 | €144,974 | -€240,862 | -62.4% |
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 29 September 2026 via checked.be.