BETA: what changed
Two financial 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
BETA
NACE 64.210, Activities of holding companies
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€4.1m
2023 · €5.1m-€1.0m
Equity
€389.3m
2023 · €385.2m+€4.1m
Cash
€3.3m
2023 · €12.0m-€8.7m
Balance sheet total
€392.5m
2023 · €386.3m+€6.2m
Largest movements
Assets
- Financial fixed assets +€18.2m
up €18.2m (+17.8%), from €102.2m to €120.4m
- Cash -€8.7m
down €8.7m (-72.4%), from €12.0m to €3.3m
mainly Investment in fixed assets (net) (-€18.2m) and Current investments (-€1.9m)
- Receivables within one year -€4.0m
down €4.0m (-76.7%), from €5.2m to €1.2m
Equity and liabilities
- Profit (loss) carried forward +€4.1m
up €4.1m (+68.1%), from €6.0m to €10.1m
Income statement
- Financial charges -€10.3m
down €10.3m, from €3.9m to -€6.3m
- Financial income -€8.2m
down €8.2m (-70.3%), from €11.7m to €3.5m
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
€5.1m
Depreciation
-€6,799
Provisions
-€1.0m
Other operating charges
-€182,646
Other operating items
-€1.6m
Financial income
-€8.2m
Financial charges
+€10.3m
Taxes
-€274,583
Result 2024
€4.1m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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
+€11.4m
Investment
-€20.1m
Financing
€0
Cash 2023
€12.0m
From operations (derived)
+€11.4m
Net result for the year
+€4.1m
Depreciation
+€768,157
Receivables after one year
+€1.5m
Receivables within one year
+€4.0m
Deferred charges and accrued income
-€975,164
Trade debts
+€2.3m
Tax, wage and social debts
+€96,706
Other debts
-€346,874
Accrued charges and deferred income
+€18,068
Investment (derived)
-€20.1m
Investment in fixed assets (net)
-€18.2m
Current investments
-€1.9m
Cash 2024
€3.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €386,300,369 | €392,458,776 | +€6.2m | +1.6% |
| Fixed assets | 21/28 | €127,538,864 | €144,962,138 | +€17.4m | +13.7% |
| Tangible fixed assets | 22/27 | €25,306,437 | €24,538,279 | -€768,157 | -3.0% |
| Other tangible fixed assets | 26 | €25,306,437 | €24,538,279 | -€768,157 | -3.0% |
| Financial fixed assets | 28 | €102,232,427 | €120,423,859 | +€18.2m | +17.8% |
| Affiliated companies | 280/1 | €102,232,427 | €120,423,859 | +€18.2m | +17.8% |
| Participating interests | 280 | €102,232,427 | €120,423,859 | +€18.2m | +17.8% |
| Current assets | 29/58 | €258,761,505 | €247,496,638 | -€11.3m | -4.4% |
| Amounts receivable after more than one year | 29 | €6,162,941 | €4,710,000 | -€1.5m | -23.6% |
| Other amounts receivable | 291 | €6,162,941 | €4,710,000 | -€1.5m | -23.6% |
| Amounts receivable within one year | 40/41 | €5,224,699 | €1,218,812 | -€4.0m | -76.7% |
| Other amounts receivable | 41 | €5,224,699 | €1,218,812 | -€4.0m | -76.7% |
| Current investments | 50/53 | €235,158,702 | €237,067,062 | +€1.9m | +0.8% |
| Other investments | 51/53 | €235,158,702 | €237,067,062 | +€1.9m | +0.8% |
| Cash at bank and in hand | 54/58 | €12,003,028 | €3,313,465 | -€8.7m | -72.4% |
| Deferred charges and accrued income | 490/1 | €212,135 | €1,187,298 | +€975,164 | +460% |
| Total equity and liabilities | 10/49 | €386,300,369 | €392,458,776 | +€6.2m | +1.6% |
| Equity | 10/15 | €385,165,482 | €389,251,765 | +€4.1m | +1.1% |
| Contributions | 10/11 | €9,800,000 | €9,800,000 | = | 0.0% |
| Capital | 10 | €9,800,000 | €9,800,000 | = | 0.0% |
| Issued capital | 100 | €9,800,000 | €9,800,000 | = | 0.0% |
| Reserves | 13 | €369,369,052 | €369,369,052 | = | 0.0% |
| Non-distributable reserves | 130/1 | €980,000 | €980,000 | = | 0.0% |
| Legal reserve | 130 | €980,000 | €980,000 | = | 0.0% |
| Distributable reserves | 133 | €368,389,052 | €368,389,052 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,996,430 | €10,082,713 | +€4.1m | +68.1% |
| Amounts payable | 17/49 | €1,134,887 | €3,207,011 | +€2.1m | +183% |
| Amounts payable within one year | 42/48 | €1,072,078 | €3,126,135 | +€2.1m | +192% |
| Trade debts | 44 | €547,768 | €2,851,993 | +€2.3m | +421% |
| Suppliers | 440/4 | €547,768 | €2,851,993 | +€2.3m | +421% |
| Taxes, remuneration and social security | 45 | €177,437 | €274,142 | +€96,706 | +54.5% |
| Taxes | 450/3 | €177,437 | €274,142 | +€96,706 | +54.5% |
| Other amounts payable | 47/48 | €346,874 | - | -€346,874 | |
| Accrued charges and deferred income | 492/3 | €62,808 | €80,876 | +€18,068 | +28.8% |
| Operating income | 70/76A | €497,212 | €546,526 | +€49,314 | +9.9% |
| Other operating income | 74 | €497,212 | €546,526 | +€49,314 | +9.9% |
| Operating charges | 60/66A | €3,154,317 | €6,006,783 | +€2.9m | +90.4% |
| Services and other goods | 61 | €3,052,349 | €4,675,369 | +€1.6m | +53.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €761,358 | €768,157 | +€6,799 | +0.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€1,040,000 | - | +€1.0m | |
| Other operating charges | 640/8 | €380,610 | €563,256 | +€182,646 | +48.0% |
| Operating profit (loss) | 9901 | -€2,657,105 | -€5,460,257 | -€2.8m | -105% |
| Financial income | 75/76B | €11,728,284 | €3,486,723 | -€8.2m | -70.3% |
| Recurring financial income | 75 | €11,728,284 | €3,486,723 | -€8.2m | -70.3% |
| Income from financial fixed assets | 750 | €1,613,623 | €293,668 | -€1.3m | -81.8% |
| Income from current assets | 751 | €12,000 | €1,225,055 | +€1.2m | +10,109% |
| Other financial income | 752/9 | €10,102,661 | €1,968,001 | -€8.1m | -80.5% |
| Financial charges | 65/66B | €3,947,093 | -€6,326,179 | -€10.3m | |
| Recurring financial charges | 65 | €3,947,093 | -€6,326,179 | -€10.3m | |
| Debt charges | 650 | €279 | - | -€279 | |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€2,812,171 | -€7,430,596 | -€4.6m | -164% |
| Other financial charges | 652/9 | €6,758,985 | €1,104,417 | -€5.7m | -83.7% |
| Profit (loss) for the period before taxes | 9903 | €5,124,086 | €4,352,646 | -€771,440 | -15.1% |
| Income taxes | 67/77 | -€8,220 | €266,363 | +€274,583 | |
| Taxes | 670/3 | €591,780 | €285,844 | -€305,935 | -51.7% |
| Tax adjustments and reversals of tax provisions | 77 | €600,000 | €19,482 | -€580,518 | -96.8% |
| Profit (loss) for the period | 9904 | €5,132,306 | €4,086,283 | -€1.0m | -20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,132,306 | €4,086,283 | -€1.0m | -20.4% |
Source: filed annual accounts (NBB), financial 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 October 2026 via checked.be.