BELVAS: 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
BELVAS
NACE 10.820, Manufacture of cocoa, chocolate and sugar confectionery
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€15,134
2023 · -€81,703+€96,837
Equity
€4.7m
2023 · €3.9m+€788,261
Cash
-
2023 · €276,896-€276,896
Balance sheet total
€15.7m
2023 · €14.9m+€824,504
Largest movements
Assets
- Stocks and contracts +€1.4m
up €1.4m (+49.9%), from €2.9m to €4.3m
- Receivables within one year -€711,945
down €711,945 (-20.0%), from €3.6m to €2.9m
of which Other amounts receivable: -€575,038
- Cash -€276,896
no longer reported in 2024 (was €276,896)
mainly Stocks and contracts (-€1.4m) and Investment in fixed assets (net) (-€1.2m)
- Tangible fixed assets +€269,598
up €269,598 (+3.8%), from €7.0m to €7.3m
of which Assets under construction and advance payments: +€570,640
- Intangible fixed assets +€256,570
up €256,570 (+39.4%), from €651,409 to €907,979
Equity and liabilities
- Debts after one year -€572,254
down €572,254 (-8.3%), from €6.9m to €6.3m
- Contributions +€500,000
up €500,000 (+16.1%), from €3.1m to €3.6m
- Trade debts +€478,410
up €478,410 (+29.5%), from €1.6m to €2.1m
- Investment grants +€273,127
up €273,127 (+19.8%), from €1.4m to €1.7m
Income statement
- Turnover +€2.0m
up €2.0m (+19.2%), from €10.3m to €12.2m
- Financial income -€1.0m
down €1.0m (-95.9%), from €1.1m to €43,314
of which Non-recurring financial income: -€767,731
- Goods and materials +€908,550
up €908,550 (+17.5%), from €5.2m to €6.1m
of which Purchases: +€2.2m
- Staff costs +€199,457
up €199,457 (+13.1%), from €1.5m to €1.7m
- Services and other goods -€136,522
down €136,522 (-3.9%), from €3.5m to €3.3m
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
-€81,703
Turnover
+€2.0m
Other operating income
+€38,447
Goods and materials
-€908,550
Services and other goods
+€136,522
Staff costs
-€199,457
Depreciation
-€31,210
Write-downs
+€8,879
Provisions
+€90,000
Other operating charges
+€9,797
Other operating items
+€26,307
Financial income
-€1.0m
Financial charges
-€23,628
Taxes
+€449
Result 2024
€15,134
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
+€456,368
Investment
-€1.2m
Financing
+€423,517
Cash 2023
€276,896
From operations (derived)
+€456,368
Net result for the year
+€15,134
Depreciation
+€706,961
Stocks and contracts
-€1.4m
Receivables within one year
+€711,945
Deferred charges and accrued income
+€79,925
Provisions
-€40,000
Trade debts
+€478,410
Tax, wage and social debts
+€3,418
Accrued charges and deferred income
-€55,975
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€1.2m
Financing
+€423,517
Debts after one year
-€572,254
Current portion of long-term debt
+€136,878
Short-term financial debts
+€85,766
Contributions, distributions and other
+€773,127
Cash 2024
€0
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,882,313 | €15,706,817 | +€824,504 | +5.5% |
| Formation expenses | 20 | €194,442 | €118,095 | -€76,347 | -39.3% |
| Fixed assets | 21/28 | €7,686,265 | €8,212,432 | +€526,168 | +6.8% |
| Intangible fixed assets | 21 | €651,409 | €907,979 | +€256,570 | +39.4% |
| Tangible fixed assets | 22/27 | €7,034,856 | €7,304,454 | +€269,598 | +3.8% |
| Land and buildings | 22 | €763,151 | €761,786 | -€1,365 | -0.2% |
| Plant, machinery and equipment | 23 | €840,155 | €713,195 | -€126,960 | -15.1% |
| Furniture and vehicles | 24 | €118,044 | €112,816 | -€5,228 | -4.4% |
| Leasing and similar rights | 25 | €739,109 | €571,620 | -€167,489 | -22.7% |
| Assets under construction and advance payments | 27 | €4,574,397 | €5,145,037 | +€570,640 | +12.5% |
| Current assets | 29/58 | €7,001,606 | €7,376,290 | +€374,683 | +5.4% |
| Amounts receivable after more than one year | 29 | €149,255 | €149,255 | = | 0.0% |
| Trade receivables | 290 | €149,255 | €149,255 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,895,132 | €4,338,582 | +€1.4m | +49.9% |
| Stocks | 30/36 | €2,895,132 | €4,338,582 | +€1.4m | +49.9% |
| Raw materials and consumables | 30/31 | €1,422,391 | €3,369,015 | +€1.9m | +136.9% |
| Work in progress | 32 | €1,110,053 | €759,004 | -€351,049 | -31.6% |
| Finished goods | 33 | €362,688 | €210,563 | -€152,125 | -41.9% |
| Amounts receivable within one year | 40/41 | €3,563,642 | €2,851,698 | -€711,945 | -20.0% |
| Trade receivables | 40 | €1,546,103 | €1,409,196 | -€136,907 | -8.9% |
| Other amounts receivable | 41 | €2,017,539 | €1,442,501 | -€575,038 | -28.5% |
| Cash at bank and in hand | 54/58 | €276,896 | - | -€276,896 | |
| Deferred charges and accrued income | 490/1 | €116,680 | €36,755 | -€79,925 | -68.5% |
| Total equity and liabilities | 10/49 | €14,882,313 | €15,706,817 | +€824,504 | +5.5% |
| Equity | 10/15 | €3,945,809 | €4,734,070 | +€788,261 | +20.0% |
| Contributions | 10/11 | €3,100,858 | €3,600,858 | +€500,000 | +16.1% |
| Capital | 10 | €3,100,858 | €3,600,858 | +€500,000 | +16.1% |
| Issued capital | 100 | €3,100,858 | €3,600,858 | +€500,000 | +16.1% |
| Reserves | 13 | €10,901 | €10,901 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,901 | €10,901 | = | 0.0% |
| Other | 1319 | €10,901 | €10,901 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€545,335 | -€530,201 | +€15,134 | +2.8% |
| Investment grants | 15 | €1,379,386 | €1,652,512 | +€273,127 | +19.8% |
| Provisions and deferred taxes | 16 | €50,000 | €10,000 | -€40,000 | -80.0% |
| Provisions for liabilities and charges | 160/5 | €50,000 | €10,000 | -€40,000 | -80.0% |
| Other liabilities and charges | 164/5 | €50,000 | €10,000 | -€40,000 | -80.0% |
| Amounts payable | 17/49 | €10,886,504 | €10,962,747 | +€76,243 | +0.7% |
| Amounts payable after more than one year | 17 | €6,860,181 | €6,287,927 | -€572,254 | -8.3% |
| Financial debts | 170/4 | €6,860,181 | €6,287,927 | -€572,254 | -8.3% |
| Leasing and similar obligations | 172 | €560,231 | €398,170 | -€162,061 | -28.9% |
| Credit institutions | 173 | €6,299,950 | €5,889,758 | -€410,193 | -6.5% |
| Amounts payable within one year | 42/48 | €3,691,788 | €4,396,260 | +€704,472 | +19.1% |
| Current portion of amounts payable after more than one year | 42 | €1,063,148 | €1,200,027 | +€136,878 | +12.9% |
| Financial debts | 43 | €700,000 | €785,766 | +€85,766 | +12.3% |
| Credit institutions | 430/8 | €700,000 | €785,766 | +€85,766 | +12.3% |
| Trade debts | 44 | €1,621,202 | €2,099,612 | +€478,410 | +29.5% |
| Suppliers | 440/4 | €1,621,202 | €2,099,612 | +€478,410 | +29.5% |
| Taxes, remuneration and social security | 45 | €285,144 | €288,561 | +€3,418 | +1.2% |
| Taxes | 450/3 | €59,612 | €45,533 | -€14,078 | -23.6% |
| Remuneration and social security | 454/9 | €225,532 | €243,028 | +€17,496 | +7.8% |
| Other amounts payable | 47/48 | €22,293 | €22,293 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €334,535 | €278,559 | -€55,975 | -16.7% |
| Operating income | 70/76A | €10,376,474 | €12,371,648 | +€2.0m | +19.2% |
| Turnover | 70 | €10,258,810 | €12,225,538 | +€2.0m | +19.2% |
| Other operating income | 74 | €107,664 | €146,110 | +€38,447 | +35.7% |
| Non-recurring operating income | 76A | €10,000 | - | -€10,000 | |
| Operating charges | 60/66A | €11,144,058 | €12,001,771 | +€857,713 | +7.7% |
| Goods for resale, raw materials and consumables | 60 | €5,192,953 | €6,101,503 | +€908,550 | +17.5% |
| Purchases | 600/8 | €5,376,103 | €7,545,137 | +€2.2m | +40.3% |
| Change in stocks: decrease (increase) | 609 | -€183,150 | -€1,443,634 | -€1.3m | -688.2% |
| Services and other goods | 61 | €3,484,417 | €3,347,895 | -€136,522 | -3.9% |
| Remuneration, social security and pensions | 62 | €1,521,675 | €1,721,132 | +€199,457 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €675,751 | €706,961 | +€31,210 | +4.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€8,879 | -€8,879 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €50,000 | -€40,000 | -€90,000 | |
| Other operating charges | 640/8 | €70,855 | €61,058 | -€9,797 | -13.8% |
| Non-recurring operating charges | 66A | €148,408 | €112,101 | -€36,307 | -24.5% |
| Operating profit (loss) | 9901 | -€767,585 | €369,877 | +€1.1m | |
| Financial income | 75/76B | €1,060,760 | €43,314 | -€1.0m | -95.9% |
| Recurring financial income | 75 | €293,028 | €43,314 | -€249,715 | -85.2% |
| Other financial income | 752/9 | €293,028 | €43,314 | -€249,715 | -85.2% |
| Non-recurring financial income | 76B | €767,731 | - | -€767,731 | |
| Financial charges | 65/66B | €374,106 | €397,734 | +€23,628 | +6.3% |
| Recurring financial charges | 65 | €374,106 | €397,734 | +€23,628 | +6.3% |
| Debt charges | 650 | €277,226 | €334,390 | +€57,164 | +20.6% |
| Other financial charges | 652/9 | €96,880 | €63,344 | -€33,536 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | -€80,931 | €15,457 | +€96,388 | |
| Income taxes | 67/77 | €772 | €323 | -€449 | -58.2% |
| Taxes | 670/3 | €772 | €323 | -€449 | -58.2% |
| Profit (loss) for the period | 9904 | -€81,703 | €15,134 | +€96,837 | |
| Profit (loss) for the period to be appropriated | 9905 | -€81,703 | €15,134 | +€96,837 |
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 6 October 2026 via checked.be.