BELBABY: 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.
BELBABY
Largest movements
- Cash -€9,250
down €9,250 (-67.8%), from €13,634 to €4,384
mainly Net result for the year (-€18,616) and Trade debts (-€550)
- Intangible fixed assets -€5,840
down €5,840 (-18.2%), from €32,124 to €26,284
- Stocks and contracts -€2,735
down €2,735 (-4.4%), from €62,565 to €59,830
- Receivables within one year -€1,599
down €1,599 (-3.1%), from €51,210 to €49,611
of which Trade receivables: -€2,608
- Profit (loss) carried forward -€18,616
down €18,616 (-34.2%), from -€54,492 to -€73,108
- Gross operating margin -€25,261
down €25,261, from €12,962 to -€12,299
- Other operating charges -€387
no longer reported in 2025 (was €387)
- Financial charges +€165
up €165 (+52.7%), from €313 to €478
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.
Derived cash bridge
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 | €159,533 | €140,109 | -€19,423 | -12.2% |
| Fixed assets | 21/28 | €32,124 | €26,284 | -€5,840 | -18.2% |
| Intangible fixed assets | 21 | €32,124 | €26,284 | -€5,840 | -18.2% |
| Current assets | 29/58 | €127,409 | €113,825 | -€13,584 | -10.7% |
| Stocks and contracts in progress | 3 | €62,565 | €59,830 | -€2,735 | -4.4% |
| Stocks | 30/36 | €62,565 | €59,830 | -€2,735 | -4.4% |
| Amounts receivable within one year | 40/41 | €51,210 | €49,611 | -€1,599 | -3.1% |
| Trade receivables | 40 | €51,210 | €48,602 | -€2,608 | -5.1% |
| Other amounts receivable | 41 | - | €1,010 | +€1,010 | |
| Cash at bank and in hand | 54/58 | €13,634 | €4,384 | -€9,250 | -67.8% |
| Total equity and liabilities | 10/49 | €159,533 | €140,109 | -€19,423 | -12.2% |
| Equity | 10/15 | -€44,492 | -€63,108 | -€18,616 | -41.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,492 | -€73,108 | -€18,616 | -34.2% |
| Amounts payable | 17/49 | €204,025 | €203,218 | -€807 | -0.4% |
| Amounts payable within one year | 42/48 | €204,025 | €203,218 | -€807 | -0.4% |
| Trade debts | 44 | €1,905 | €1,355 | -€550 | -28.9% |
| Suppliers | 440/4 | €1,905 | €1,355 | -€550 | -28.9% |
| Taxes, remuneration and social security | 45 | €257 | - | -€257 | |
| Taxes | 450/3 | €257 | - | -€257 | |
| Other amounts payable | 47/48 | €201,863 | €201,863 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,840 | €5,840 | = | 0.0% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | €12,962 | -€12,299 | -€25,261 | |
| Operating profit (loss) | 9901 | €6,735 | -€18,139 | -€24,874 | |
| Financial charges | 65/66B | €313 | €478 | +€165 | +52.7% |
| Recurring financial charges | 65 | €313 | €478 | +€165 | +52.7% |
| Profit (loss) for the period before taxes | 9903 | €6,422 | -€18,616 | -€25,039 | |
| Profit (loss) for the period | 9904 | €6,422 | -€18,616 | -€25,039 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,422 | -€18,616 | -€25,039 |
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 30 October 2026 via checked.be.