The belt has very little lateral flex. The teeth on the belt match with the teeth on the gears perfectly, so whatever position you leave the belt in is the position it will stay. I was surprised by this too.
I agree with the minimal lateral flex but the real "keeper" that discourages the T belt from walking off the cam gears, tensioner, idler and crank is the crank pulley itself.
I am not an expert but am a Daewoo owner who fell to the notorious timing malfunction at about 80 mph which resulted in 16 mushroomed valves. Believe it or not the T belt did not break but rather an untrimmed piece of casting from the tensioner broke loose and became a "bullet" that went between my belt and idler and wound up shattering the idler pulley.
I bought a JY engine and did the new T belt swap out of the car. As Daniel noted, it appears there is nothing to keep the belt from walking off the whole set up but upon closer examination on the backside of the crank pulley you see the crank pulley itself is the "flange" that holds the belt in lateral position.
You are correct.
T belt job done last month. There is a small flange at rear of the crank gear. The front flange is the (hard to remove) accessory pulley.