BELLA: 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.
BELLA
Largest movements
- Receivables within one year +€26,714
up €26,714 (+45.0%), from €59,380 to €86,094
of which Other amounts receivable: +€17,868
- Cash -€14,792
down €14,792 (-54.2%), from €27,289 to €12,497
mainly Trade debts (-€28,350) and Receivables within one year (-€26,714)
- Tangible fixed assets -€1,933
down €1,933 (-6.1%), from €31,632 to €29,700
of which Other tangible fixed assets: -€1,519
- Trade debts -€28,350
down €28,350 (-19.5%), from €145,674 to €117,324
- Advances received +€17,166
new in 2025: €17,166
- Tax, wage and social debts +€15,373
up €15,373 (+47.8%), from €32,175 to €47,547
of which Remuneration and social security: +€14,752
- Profit (loss) carried forward +€5,618
up €5,618 (+7.4%), from -€76,196 to -€70,578
- Staff costs -€32,865
down €32,865 (-9.2%), from €358,558 to €325,693
- Taxes +€4,657
new in 2025: €4,657
- Gross operating margin -€4,069
down €4,069 (-1.1%), from €371,373 to €367,304
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 | €157,852 | €167,659 | +€9,806 | +6.2% |
| Fixed assets | 21/28 | €32,132 | €29,700 | -€2,433 | -7.6% |
| Tangible fixed assets | 22/27 | €31,632 | €29,700 | -€1,933 | -6.1% |
| Furniture and vehicles | 24 | €12,815 | €12,401 | -€414 | -3.2% |
| Other tangible fixed assets | 26 | €18,817 | €17,299 | -€1,519 | -8.1% |
| Financial fixed assets | 28 | €500 | - | -€500 | |
| Current assets | 29/58 | €125,720 | €137,959 | +€12,239 | +9.7% |
| Stocks and contracts in progress | 3 | €37,878 | €37,878 | = | 0.0% |
| Stocks | 30/36 | €37,878 | €37,878 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €59,380 | €86,094 | +€26,714 | +45.0% |
| Trade receivables | 40 | €11,858 | €20,704 | +€8,847 | +74.6% |
| Other amounts receivable | 41 | €47,522 | €65,390 | +€17,868 | +37.6% |
| Cash at bank and in hand | 54/58 | €27,289 | €12,497 | -€14,792 | -54.2% |
| Deferred charges and accrued income | 490/1 | €1,174 | €1,491 | +€317 | +27.0% |
| Total equity and liabilities | 10/49 | €157,852 | €167,659 | +€9,806 | +6.2% |
| Equity | 10/15 | -€19,996 | -€14,378 | +€5,618 | +28.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €50,000 | €50,000 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,196 | -€70,578 | +€5,618 | +7.4% |
| Amounts payable | 17/49 | €177,849 | €182,037 | +€4,188 | +2.4% |
| Amounts payable within one year | 42/48 | €177,849 | €182,037 | +€4,188 | +2.4% |
| Trade debts | 44 | €145,674 | €117,324 | -€28,350 | -19.5% |
| Suppliers | 440/4 | €145,674 | €117,324 | -€28,350 | -19.5% |
| Advances received on contracts in progress | 46 | - | €17,166 | +€17,166 | |
| Taxes, remuneration and social security | 45 | €32,175 | €47,547 | +€15,373 | +47.8% |
| Taxes | 450/3 | €16,084 | €16,705 | +€621 | +3.9% |
| Remuneration and social security | 454/9 | €16,091 | €30,843 | +€14,752 | +91.7% |
| Non-recurring operating income | 76A | €8,144 | - | -€8,144 | |
| Remuneration, social security and pensions | 62 | €358,558 | €325,693 | -€32,865 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,225 | €10,997 | -€229 | -2.0% |
| Other operating charges | 640/8 | €1,099 | €3,467 | +€2,369 | +216% |
| Gross operating margin | 9900 | €371,373 | €367,304 | -€4,069 | -1.1% |
| Operating profit (loss) | 9901 | €491 | €27,147 | +€26,656 | +5,428% |
| Financial income | 75/76B | €73 | €17 | -€56 | -76.3% |
| Recurring financial income | 75 | €73 | €17 | -€56 | -76.3% |
| Financial charges | 65/66B | €17,065 | €16,889 | -€177 | -1.0% |
| Recurring financial charges | 65 | €17,065 | €16,889 | -€177 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | -€16,501 | €10,275 | +€26,777 | |
| Income taxes | 67/77 | - | €4,657 | +€4,657 | |
| Profit (loss) for the period | 9904 | -€16,501 | €5,618 | +€22,119 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,501 | €5,618 | +€22,119 |
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 15 October 2026 via checked.be.