Bell-Etage: 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.
Bell-Etage
Largest movements
- Tangible fixed assets -€28,034
down €28,034 (-9.2%), from €305,552 to €277,517
of which Land and buildings: -€27,396
- Profit (loss) carried forward -€25,294
down €25,294 (-8.4%), from -€302,863 to -€328,157
- Other debts -€4,981
down €4,981 (-0.8%), from €593,622 to €588,641
- Gross operating margin -€1,239
down €1,239 (-13.2%), from €9,349 to €8,111
- Depreciation +€1,187
up €1,187 (+4.2%), from €28,077 to €29,263
- Financial charges +€491
up €491 (+166%), from €296 to €786
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 | €310,099 | €279,523 | -€30,576 | -9.9% |
| Fixed assets | 21/28 | €305,552 | €277,517 | -€28,034 | -9.2% |
| Tangible fixed assets | 22/27 | €305,552 | €277,517 | -€28,034 | -9.2% |
| Land and buildings | 22 | €301,361 | €273,965 | -€27,396 | -9.1% |
| Plant, machinery and equipment | 23 | €913 | €1,389 | +€476 | +52.1% |
| Furniture and vehicles | 24 | €3,278 | €2,164 | -€1,114 | -34.0% |
| Current assets | 29/58 | €4,547 | €2,006 | -€2,541 | -55.9% |
| Cash at bank and in hand | 54/58 | €2,719 | €197 | -€2,522 | -92.8% |
| Deferred charges and accrued income | 490/1 | €1,828 | €1,809 | -€19 | -1.1% |
| Total equity and liabilities | 10/49 | €310,099 | €279,523 | -€30,576 | -9.9% |
| Equity | 10/15 | -€284,263 | -€309,557 | -€25,294 | -8.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€302,863 | -€328,157 | -€25,294 | -8.4% |
| Amounts payable | 17/49 | €594,362 | €589,080 | -€5,282 | -0.9% |
| Amounts payable within one year | 42/48 | €594,362 | €589,080 | -€5,282 | -0.9% |
| Trade debts | 44 | €122 | €311 | +€189 | +155% |
| Suppliers | 440/4 | €122 | €311 | +€189 | +155% |
| Taxes, remuneration and social security | 45 | €618 | €128 | -€490 | -79.3% |
| Taxes | 450/3 | €618 | €128 | -€490 | -79.3% |
| Other amounts payable | 47/48 | €593,622 | €588,641 | -€4,981 | -0.8% |
| Non-recurring operating income | 76A | €4,525 | - | -€4,525 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,077 | €29,263 | +€1,187 | +4.2% |
| Other operating charges | 640/8 | €3,057 | €3,013 | -€44 | -1.4% |
| Gross operating margin | 9900 | €9,349 | €8,111 | -€1,239 | -13.2% |
| Operating profit (loss) | 9901 | -€21,785 | -€24,166 | -€2,382 | -10.9% |
| Financial charges | 65/66B | €296 | €786 | +€491 | +166% |
| Recurring financial charges | 65 | €296 | €786 | +€491 | +166% |
| Profit (loss) for the period before taxes | 9903 | -€22,080 | -€24,953 | -€2,872 | -13.0% |
| Income taxes | 67/77 | €345 | €341 | -€3 | -1.0% |
| Profit (loss) for the period | 9904 | -€22,425 | -€25,294 | -€2,869 | -12.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,425 | -€25,294 | -€2,869 | -12.8% |
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 21 October 2026 via checked.be.