Bel'Espérance: 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.
Bel'Espérance
Largest movements
- Tangible fixed assets +€835,547
up €835,547 (+1296.4%), from €64,453 to €900,000
- Cash -€51,020
down €51,020 (-68.3%), from €74,753 to €23,733
mainly Investment in fixed assets (net) (-€851,098) and Other debts (-€39,602)
- Receivables within one year +€13,968
up €13,968 (+2425.0%), from €576 to €14,544
of which Trade receivables: +€13,394
- Revaluation surpluses +€838,943
new in 2025: €838,943
- Other debts -€39,602
down €39,602 (-99.6%), from €39,746 to €144
- Profit (loss) carried forward -€13,101
down €13,101 (-6.3%), from -€209,309 to -€222,410
- Trade debts +€12,587
new in 2025: €12,587
of which Bills of exchange payable: +€12,155
- Gross operating margin -€15,859
down €15,859 (-66.9%), from €23,716 to €7,857
- Other operating charges -€14,746
down €14,746 (-73.4%), from €20,103 to €5,357
- Depreciation -€1,052
down €1,052 (-6.3%), from €16,603 to €15,551
From the 2024 result to the 2025 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.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €140,304 | €939,131 | +€798,827 | +569.4% |
| Fixed assets | 21/28 | €64,453 | €900,000 | +€835,547 | +1296.4% |
| Tangible fixed assets | 22/27 | €64,453 | €900,000 | +€835,547 | +1296.4% |
| Land and buildings | 22 | €64,453 | €900,000 | +€835,547 | +1296.4% |
| Current assets | 29/58 | €75,851 | €39,131 | -€36,720 | -48.4% |
| Amounts receivable within one year | 40/41 | €576 | €14,544 | +€13,968 | +2425.0% |
| Trade receivables | 40 | €110 | €13,504 | +€13,394 | +12176.4% |
| Other amounts receivable | 41 | €466 | €1,040 | +€574 | +123.2% |
| Cash at bank and in hand | 54/58 | €74,753 | €23,733 | -€51,020 | -68.3% |
| Deferred charges and accrued income | 490/1 | €522 | €854 | +€332 | +63.6% |
| Total equity and liabilities | 10/49 | €140,304 | €939,131 | +€798,827 | +569.4% |
| Equity | 10/15 | €100,558 | €926,400 | +€825,842 | +821.3% |
| Contributions | 10/11 | €309,867 | €309,867 | = | 0.0% |
| Capital | 10 | €309,867 | €309,867 | = | 0.0% |
| Issued capital | 100 | €309,867 | €309,867 | = | 0.0% |
| Revaluation surpluses | 12 | - | €838,943 | +€838,943 | |
| Profit (loss) carried forward | 14 | -€209,309 | -€222,410 | -€13,101 | -6.3% |
| Amounts payable | 17/49 | €39,746 | €12,731 | -€27,015 | -68.0% |
| Amounts payable within one year | 42/48 | €39,746 | €12,731 | -€27,015 | -68.0% |
| Trade debts | 44 | - | €12,587 | +€12,587 | |
| Suppliers | 440/4 | - | €432 | +€432 | |
| Bills of exchange payable | 441 | - | €12,155 | +€12,155 | |
| Other amounts payable | 47/48 | €39,746 | €144 | -€39,602 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,603 | €15,551 | -€1,052 | -6.3% |
| Other operating charges | 640/8 | €20,103 | €5,357 | -€14,746 | -73.4% |
| Gross operating margin | 9900 | €23,716 | €7,857 | -€15,859 | -66.9% |
| Operating profit (loss) | 9901 | -€12,990 | -€13,051 | -€61 | -0.5% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €74 | €50 | -€24 | -32.4% |
| Recurring financial charges | 65 | €74 | €50 | -€24 | -32.4% |
| Profit (loss) for the period before taxes | 9903 | -€13,063 | -€13,101 | -€38 | -0.3% |
| Profit (loss) for the period | 9904 | -€13,063 | -€13,101 | -€38 | -0.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,063 | -€13,101 | -€38 | -0.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.