Thank god I can say that the motor is fine. The only thing is that the small wheel, which turns the turntable via the belt, will only spin when i pull it towards me (so towards the front of the machine). It didn't work with the cable on at first, but eventually it did (although the freakin cable keeps falling off).
And Peter, I'll try you're short term fix. Does it really work to cut the belt, shorten it and glue it together (will it hold?).
Just need to find some cables to connect it to a pair of Beovox S60. You really can see that Bang and Olufsen products are build like a tank. After over 30 years it still works and looks marvelous! With a bit of a cleanup it looks like it got out of the shop yesterday.