Sounds like the tensioner pulley as let go. With the belt actually coming off, my money would be on the same result as if the belt had snapped, i.e. piston reach the top of the pots when the valves should have been shut and out of the way.
Now if it's a safe engine, in theory you should be alright, due to the pistons not being able to reach the valves when they are fully opened.
If it was me, I would take the spark plugs out and see if you can get a visual look at the tops of the pistons to see if there's evidence of the pistons hitting the valves. If all looks good I would try a reassemble with the components you've got, purely for testing purposes and not long term running.
If I'm right in my assumption that it's the tensioner pulley, could also be the idler pulley, it might hold to put the belt back on for short term hand testing purposes only. You will have to redo the timing, i.e. piston one at TDC with the valves on that pot in the right cycle. Screwdriver in the spark plug hole to judge the the piston is at the top of its cycle. There are some links on here to show how this works. Once, its retimed OK, and the belt back on and holding, via the crank shaft bolt, turn the engine by hand. If all free and turning over OK for a few revolutions that will be a good sign. If you doesn't and hits solid resistance, chances are a piston is hitting a bent valve. If it's all good, and if doable with hand turning pressure, then a compression test. If that's not an option, and it's your call, but if it were me, I would turn the engine on the key without revving high and let it run for a short while to see if it mis-fires or runs lumpy. Better bet and if an option, switch off and compression test each pot in turn.
If all good and your quite happy no engine damage as been done, then belt off and redo with new belt and tensioner kit. Waterpump as well would be a worthwhile investment.
All that said, if the tensioner/idler is totally knackered, unless you can borrow a spare off somebody for testing purposes, might mean biting the bullet and get the new kit from the outset. You can always reuse should you have to do valve/cylinder head repairs. Then on the plus side, if you've got away with engine damage, you'll only have to do the job once with the betting money being on the belt, tensioner and waterpump kit. You don't have to do the waterpump, but it is strongly advised when doing a new cam belt.