UNDER BELLY: 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.
UNDER BELLY
Largest movements
- Cash -€6,702
down €6,702 (-50.3%), from €13,312 to €6,610
mainly Other debts (-€25,700) and Receivables within one year (-€4,471)
- Receivables within one year +€4,471
up €4,471 (+12.3%), from €36,489 to €40,960
of which Other amounts receivable: +€3,585
- Other debts -€25,700
down €25,700 (-58.1%), from €44,200 to €18,500
- Profit (loss) carried forward +€21,921
up €21,921 (+17.7%), from -€123,502 to -€101,581
- Trade debts +€4,164
up €4,164 (+34.8%), from €11,967 to €16,131
- Tax, wage and social debts -€2,804
down €2,804 (-10.1%), from €27,644 to €24,839
- Financial charges -€188,251
down €188,251 (-99.8%), from €188,643 to €392
of which Non-recurring financial charges: -€188,193
- Taxes +€2,251
up €2,251 (+25.3%), from €8,902 to €11,152
- Other operating charges +€2,192
up €2,192 (+259%), from €848 to €3,040
- Financial income +€1,455
up €1,455 (+545%), from €267 to €1,722
- Depreciation -€1,411
down €1,411 (-79.1%), from €1,783 to €372
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.
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.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,897 | €58,228 | -€2,669 | -4.4% |
| Fixed assets | 21/28 | €9,074 | €8,702 | -€372 | -4.1% |
| Tangible fixed assets | 22/27 | €530 | €158 | -€372 | -70.2% |
| Furniture and vehicles | 24 | €530 | €158 | -€372 | -70.2% |
| Financial fixed assets | 28 | €8,544 | €8,544 | = | 0.0% |
| Current assets | 29/58 | €51,823 | €49,526 | -€2,297 | -4.4% |
| Amounts receivable within one year | 40/41 | €36,489 | €40,960 | +€4,471 | +12.3% |
| Trade receivables | 40 | €3,258 | €4,144 | +€886 | +27.2% |
| Other amounts receivable | 41 | €33,231 | €36,816 | +€3,585 | +10.8% |
| Cash at bank and in hand | 54/58 | €13,312 | €6,610 | -€6,702 | -50.3% |
| Deferred charges and accrued income | 490/1 | €2,021 | €1,955 | -€66 | -3.3% |
| Total equity and liabilities | 10/49 | €60,897 | €58,228 | -€2,669 | -4.4% |
| Equity | 10/15 | -€121,502 | -€99,581 | +€21,921 | +18.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€123,502 | -€101,581 | +€21,921 | +17.7% |
| Provisions and deferred taxes | 16 | €97,251 | €97,251 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €97,251 | €97,251 | = | 0.0% |
| Pensions and similar obligations | 160 | €97,251 | €97,251 | = | 0.0% |
| Amounts payable | 17/49 | €85,148 | €60,558 | -€24,590 | -28.9% |
| Amounts payable within one year | 42/48 | €85,148 | €60,558 | -€24,590 | -28.9% |
| Trade debts | 44 | €11,967 | €16,131 | +€4,164 | +34.8% |
| Suppliers | 440/4 | €11,967 | €16,131 | +€4,164 | +34.8% |
| Advances received on contracts in progress | 46 | €1,338 | €1,088 | -€250 | -18.7% |
| Taxes, remuneration and social security | 45 | €27,644 | €24,839 | -€2,804 | -10.1% |
| Taxes | 450/3 | €27,644 | €24,839 | -€2,804 | -10.1% |
| Other amounts payable | 47/48 | €44,200 | €18,500 | -€25,700 | -58.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,783 | €372 | -€1,411 | -79.1% |
| Other operating charges | 640/8 | €848 | €3,040 | +€2,192 | +259% |
| Gross operating margin | 9900 | €34,215 | €35,155 | +€940 | +2.7% |
| Operating profit (loss) | 9901 | €31,584 | €31,743 | +€159 | +0.5% |
| Financial income | 75/76B | €267 | €1,722 | +€1,455 | +545% |
| Recurring financial income | 75 | €267 | €1,722 | +€1,455 | +545% |
| Financial charges | 65/66B | €188,643 | €392 | -€188,251 | -99.8% |
| Recurring financial charges | 65 | €449 | €392 | -€58 | -12.8% |
| Non-recurring financial charges | 66B | €188,193 | - | -€188,193 | |
| Profit (loss) for the period before taxes | 9903 | -€156,792 | €33,073 | +€189,865 | |
| Income taxes | 67/77 | €8,902 | €11,152 | +€2,251 | +25.3% |
| Profit (loss) for the period | 9904 | -€165,694 | €21,921 | +€187,615 | |
| Profit (loss) for the period to be appropriated | 9905 | -€165,694 | €21,921 | +€187,615 |
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 20 October 2026 via checked.be.