BELL GROUND: 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 GROUND
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Short-term financial debts +€309,453
up €309,453 (+12.1%), from €2.6m to €2.9m
- Current portion of long-term debt -€140,000
no longer reported in 2025 (was €140,000)
- Profit (loss) carried forward -€87,008
down €87,008 (-26.9%), from -€322,968 to -€409,976
- Financial charges +€22,855
up €22,855 (+49.9%), from €45,772 to €68,626
- Gross operating margin +€7,270
up €7,270 (+29.6%), from -€24,591 to -€17,321
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 | €7,724,584 | €7,743,317 | +€18,733 | +0.2% |
| Fixed assets | 21/28 | €3,463,310 | €3,463,310 | = | 0.0% |
| Financial fixed assets | 28 | €3,463,310 | €3,463,310 | = | 0.0% |
| Current assets | 29/58 | €4,261,274 | €4,280,007 | +€18,733 | +0.4% |
| Stocks and contracts in progress | 3 | €4,254,172 | €4,273,122 | +€18,950 | +0.4% |
| Stocks | 30/36 | €4,254,172 | €4,273,122 | +€18,950 | +0.4% |
| Cash at bank and in hand | 54/58 | €7,102 | €6,886 | -€217 | -3.1% |
| Total equity and liabilities | 10/49 | €7,724,584 | €7,743,317 | +€18,733 | +0.2% |
| Equity | 10/15 | €2,495,232 | €2,408,224 | -€87,008 | -3.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €2,750,000 | €2,750,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€322,968 | -€409,976 | -€87,008 | -26.9% |
| Amounts payable | 17/49 | €5,229,352 | €5,335,093 | +€105,741 | +2.0% |
| Amounts payable within one year | 42/48 | €5,229,352 | €5,335,093 | +€105,741 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €140,000 | - | -€140,000 | |
| Financial debts | 43 | €2,552,050 | €2,861,503 | +€309,453 | +12.1% |
| Credit institutions | 430/8 | €2,552,050 | €2,861,503 | +€309,453 | +12.1% |
| Trade debts | 44 | €4,660 | €2,875 | -€1,784 | -38.3% |
| Suppliers | 440/4 | €4,660 | €2,875 | -€1,784 | -38.3% |
| Other amounts payable | 47/48 | €2,532,643 | €2,470,715 | -€61,928 | -2.4% |
| Other operating charges | 640/8 | €1,022 | €1,060 | +€38 | +3.7% |
| Gross operating margin | 9900 | -€24,591 | -€17,321 | +€7,270 | +29.6% |
| Operating profit (loss) | 9901 | -€25,614 | -€18,382 | +€7,232 | +28.2% |
| Financial charges | 65/66B | €45,772 | €68,626 | +€22,855 | +49.9% |
| Recurring financial charges | 65 | €45,772 | €68,626 | +€22,855 | +49.9% |
| Profit (loss) for the period before taxes | 9903 | -€71,385 | -€87,008 | -€15,623 | -21.9% |
| Profit (loss) for the period | 9904 | -€71,385 | -€87,008 | -€15,623 | -21.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€71,385 | -€87,008 | -€15,623 | -21.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.