Bell'Ami: what changed
Two fiscal 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.
Bell'Ami
Largest movements
- Stocks and contracts -€5,898
down €5,898 (-4.7%), from €124,564 to €118,666
- Cash -€5,433
down €5,433 (-29.9%), from €18,157 to €12,724
mainly Trade debts (-€6,514) and Other debts (-€3,850)
- Tangible fixed assets +€2,042
up €2,042 (+103.4%), from €1,975 to €4,017
of which Other tangible fixed assets: +€2,116
- Trade debts -€6,514
down €6,514 (-83.1%), from €7,839 to €1,326
- Other debts -€3,850
down €3,850 (-6.2%), from €62,314 to €58,465
- Profit (loss) carried forward +€1,789
up €1,789 (+3.5%), from -€51,228 to -€49,439
- Gross operating margin +€20,574
up €20,574, from -€5,229 to €15,345
- Other operating charges +€1,641
up €1,641 (+191.2%), from €858 to €2,500
- Depreciation +€418
up €418 (+52.2%), from €800 to €1,218
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 | €145,045 | €135,697 | -€9,348 | -6.4% |
| Fixed assets | 21/28 | €1,975 | €4,017 | +€2,042 | +103.4% |
| Tangible fixed assets | 22/27 | €1,975 | €4,017 | +€2,042 | +103.4% |
| Plant, machinery and equipment | 23 | €1,257 | €1,183 | -€74 | -5.9% |
| Other tangible fixed assets | 26 | €718 | €2,834 | +€2,116 | +294.9% |
| Current assets | 29/58 | €143,071 | €131,680 | -€11,390 | -8.0% |
| Stocks and contracts in progress | 3 | €124,564 | €118,666 | -€5,898 | -4.7% |
| Stocks | 30/36 | €124,564 | €118,666 | -€5,898 | -4.7% |
| Amounts receivable within one year | 40/41 | €350 | €0 | -€350 | -100.0% |
| Trade receivables | 40 | €350 | €0 | -€350 | -100.0% |
| Cash at bank and in hand | 54/58 | €18,157 | €12,724 | -€5,433 | -29.9% |
| Deferred charges and accrued income | 490/1 | - | €291 | +€291 | |
| Total equity and liabilities | 10/49 | €145,045 | €135,697 | -€9,348 | -6.4% |
| Equity | 10/15 | -€2,482 | -€693 | +€1,789 | +72.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €28,746 | €28,746 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €26,746 | €26,746 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,228 | -€49,439 | +€1,789 | +3.5% |
| Amounts payable | 17/49 | €147,527 | €136,390 | -€11,137 | -7.5% |
| Amounts payable after more than one year | 17 | €19,500 | €19,500 | = | 0.0% |
| Financial debts | 170/4 | €19,500 | - | -€19,500 | |
| Other amounts payable | 178/9 | - | €19,500 | +€19,500 | |
| Amounts payable within one year | 42/48 | €127,758 | €116,890 | -€10,868 | -8.5% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €7,839 | €1,326 | -€6,514 | -83.1% |
| Suppliers | 440/4 | €7,839 | €1,326 | -€6,514 | -83.1% |
| Taxes, remuneration and social security | 45 | €7,605 | €7,100 | -€504 | -6.6% |
| Taxes | 450/3 | €7,463 | €7,100 | -€363 | -4.9% |
| Remuneration and social security | 454/9 | €142 | €0 | -€142 | -100.0% |
| Other amounts payable | 47/48 | €62,314 | €58,465 | -€3,850 | -6.2% |
| Accrued charges and deferred income | 492/3 | €269 | €0 | -€269 | -100.0% |
| Remuneration, social security and pensions | 62 | €5,457 | €5,542 | +€85 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €800 | €1,218 | +€418 | +52.2% |
| Other operating charges | 640/8 | €858 | €2,500 | +€1,641 | +191.2% |
| Gross operating margin | 9900 | -€5,229 | €15,345 | +€20,574 | |
| Operating profit (loss) | 9901 | -€12,345 | €6,085 | +€18,430 | |
| Financial income | 75/76B | €132 | €131 | -€1 | -0.7% |
| Recurring financial income | 75 | €132 | €131 | -€1 | -0.7% |
| Financial charges | 65/66B | €4,302 | €4,427 | +€125 | +2.9% |
| Recurring financial charges | 65 | €4,302 | €4,427 | +€125 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | -€16,515 | €1,789 | +€18,304 | |
| Profit (loss) for the period | 9904 | -€16,515 | €1,789 | +€18,304 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,515 | €1,789 | +€18,304 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.