Belgian Bella Sun: 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.
Belgian Bella Sun
Largest movements
- Receivables within one year +€98,656
up €98,656 (+2,113%), from €4,668 to €103,324
of which Trade receivables: +€97,604
- Tangible fixed assets -€10,403
down €10,403 (-50.1%), from €20,759 to €10,356
of which Plant, machinery and equipment: -€5,322
- Cash +€4,140
new in 2025: €4,140
mainly Advances received (+€104,545) and Other debts (+€22,937)
- Advances received +€104,545
new in 2025: €104,545
- Profit (loss) carried forward -€28,539
down €28,539 (-69.3%), from -€41,178 to -€69,717
- Other debts +€22,937
up €22,937 (+608%), from €3,771 to €26,709
- Debts after one year +€17,500
up €17,500 (+364%), from €4,807 to €22,307
- Short-term financial debts -€16,065
no longer reported in 2025 (was €16,065)
- Gross operating margin +€18,183
up €18,183 (+157%), from €11,561 to €29,744
- Financial charges +€5,948
up €5,948 (+251%), from €2,366 to €8,313
- Depreciation +€1,170
up €1,170 (+12.7%), from €9,233 to €10,403
- Taxes -€1,061
down €1,061 (-100%), from €1,061 to €0
- Financial income +€767
new in 2025: €767
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 | €27,927 | €120,319 | +€92,393 | +331% |
| Fixed assets | 21/28 | €20,759 | €10,356 | -€10,403 | -50.1% |
| Tangible fixed assets | 22/27 | €20,759 | €10,356 | -€10,403 | -50.1% |
| Plant, machinery and equipment | 23 | €14,051 | €8,729 | -€5,322 | -37.9% |
| Furniture and vehicles | 24 | €2,593 | €1,593 | -€1,000 | -38.6% |
| Leasing and similar rights | 25 | €73 | €0 | -€73 | -100% |
| Other tangible fixed assets | 26 | €4,042 | €33 | -€4,009 | -99.2% |
| Current assets | 29/58 | €7,168 | €109,964 | +€102,796 | +1,434% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,668 | €103,324 | +€98,656 | +2,113% |
| Trade receivables | 40 | €2,561 | €100,165 | +€97,604 | +3,810% |
| Other amounts receivable | 41 | €2,107 | €3,159 | +€1,052 | +49.9% |
| Cash at bank and in hand | 54/58 | - | €4,140 | +€4,140 | |
| Total equity and liabilities | 10/49 | €27,927 | €120,319 | +€92,393 | +331% |
| Equity | 10/15 | -€8,178 | -€36,717 | -€28,539 | -349% |
| Contributions | 10/11 | €27,000 | €27,000 | = | 0.0% |
| Reserves | 13 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,178 | -€69,717 | -€28,539 | -69.3% |
| Amounts payable | 17/49 | €36,105 | €157,036 | +€120,931 | +335% |
| Amounts payable after more than one year | 17 | €4,807 | €22,307 | +€17,500 | +364% |
| Financial debts | 170/4 | €4,807 | €22,307 | +€17,500 | +364% |
| Amounts payable within one year | 42/48 | €31,297 | €134,729 | +€103,431 | +330% |
| Financial debts | 43 | €16,065 | - | -€16,065 | |
| Credit institutions | 430/8 | €16,065 | - | -€16,065 | |
| Trade debts | 44 | €1,538 | €1,790 | +€253 | +16.4% |
| Suppliers | 440/4 | €1,538 | €1,790 | +€253 | +16.4% |
| Advances received on contracts in progress | 46 | - | €104,545 | +€104,545 | |
| Taxes, remuneration and social security | 45 | €9,923 | €1,685 | -€8,239 | -83.0% |
| Remuneration and social security | 454/9 | €9,923 | €1,685 | -€8,239 | -83.0% |
| Other amounts payable | 47/48 | €3,771 | €26,709 | +€22,937 | +608% |
| Remuneration, social security and pensions | 62 | €40,080 | €40,165 | +€85 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,233 | €10,403 | +€1,170 | +12.7% |
| Other operating charges | 640/8 | - | €169 | +€169 | |
| Gross operating margin | 9900 | €11,561 | €29,744 | +€18,183 | +157% |
| Operating profit (loss) | 9901 | -€37,752 | -€20,993 | +€16,759 | +44.4% |
| Financial income | 75/76B | - | €767 | +€767 | |
| Recurring financial income | 75 | - | €767 | +€767 | |
| Financial charges | 65/66B | €2,366 | €8,313 | +€5,948 | +251% |
| Recurring financial charges | 65 | €2,366 | €8,313 | +€5,948 | +251% |
| Profit (loss) for the period before taxes | 9903 | -€40,117 | -€28,539 | +€11,578 | +28.9% |
| Income taxes | 67/77 | €1,061 | €0 | -€1,061 | -100% |
| Profit (loss) for the period | 9904 | -€41,178 | -€28,539 | +€12,639 | +30.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,178 | -€28,539 | +€12,639 | +30.7% |
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 22 October 2026 via checked.be.