BELLA OVO: 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 OVO
Largest movements
- Cash -€86,480
down €86,480 (-34.2%), from €252,552 to €166,072
mainly Contributions, distributions and other (-€182,353) and Tax, wage and social debts (-€14,476)
- Tangible fixed assets -€11,521
down €11,521 (-15.0%), from €76,694 to €65,172
of which Plant, machinery and equipment: -€7,480
- Current investments -€5,005
no longer reported in 2025 (was €5,005)
- Reserves -€94,223
down €94,223 (-69.3%), from €135,904 to €41,681
- Other debts +€26,641
up €26,641 (+33.4%), from €79,646 to €106,288
- Tax, wage and social debts -€14,476
down €14,476 (-29.5%), from €49,113 to €34,637
of which Taxes: -€12,400
- Trade debts -€12,308
down €12,308 (-79.3%), from €15,529 to €3,222
- Debts after one year -€8,133
down €8,133 (-21.1%), from €38,633 to €30,500
- Gross operating margin +€36,555
up €36,555 (+17.8%), from €205,395 to €241,950
- Staff costs +€21,057
up €21,057 (+31.8%), from €66,175 to €87,233
- Taxes +€6,338
up €6,338 (+21.5%), from €29,471 to €35,809
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 | €345,400 | €243,061 | -€102,339 | -29.6% |
| Fixed assets | 21/28 | €80,694 | €69,172 | -€11,521 | -14.3% |
| Tangible fixed assets | 22/27 | €76,694 | €65,172 | -€11,521 | -15.0% |
| Plant, machinery and equipment | 23 | €57,404 | €49,924 | -€7,480 | -13.0% |
| Furniture and vehicles | 24 | €14,790 | €10,748 | -€4,041 | -27.3% |
| Other tangible fixed assets | 26 | €4,500 | €4,500 | = | 0.0% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €264,706 | €173,888 | -€90,818 | -34.3% |
| Stocks and contracts in progress | 3 | €2,675 | €2,965 | +€290 | +10.8% |
| Stocks | 30/36 | €2,675 | €2,965 | +€290 | +10.8% |
| Amounts receivable within one year | 40/41 | €2,207 | €3,789 | +€1,582 | +71.7% |
| Trade receivables | 40 | €1,294 | - | -€1,294 | |
| Other amounts receivable | 41 | €913 | €3,789 | +€2,876 | +315% |
| Current investments | 50/53 | €5,005 | - | -€5,005 | |
| Cash at bank and in hand | 54/58 | €252,552 | €166,072 | -€86,480 | -34.2% |
| Deferred charges and accrued income | 490/1 | €2,267 | €1,063 | -€1,204 | -53.1% |
| Total equity and liabilities | 10/49 | €345,400 | €243,061 | -€102,339 | -29.6% |
| Equity | 10/15 | €154,504 | €60,281 | -€94,223 | -61.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €135,904 | €41,681 | -€94,223 | -69.3% |
| Distributable reserves | 133 | €135,904 | €41,681 | -€94,223 | -69.3% |
| Amounts payable | 17/49 | €190,896 | €182,780 | -€8,116 | -4.3% |
| Amounts payable after more than one year | 17 | €38,633 | €30,500 | -€8,133 | -21.1% |
| Financial debts | 170/4 | €38,633 | €30,500 | -€8,133 | -21.1% |
| Amounts payable within one year | 42/48 | €152,263 | €152,280 | +€17 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €7,974 | €8,133 | +€159 | +2.0% |
| Trade debts | 44 | €15,529 | €3,222 | -€12,308 | -79.3% |
| Suppliers | 440/4 | €15,529 | €3,222 | -€12,308 | -79.3% |
| Taxes, remuneration and social security | 45 | €49,113 | €34,637 | -€14,476 | -29.5% |
| Taxes | 450/3 | €28,989 | €16,590 | -€12,400 | -42.8% |
| Remuneration and social security | 454/9 | €20,124 | €18,047 | -€2,076 | -10.3% |
| Other amounts payable | 47/48 | €79,646 | €106,288 | +€26,641 | +33.4% |
| Remuneration, social security and pensions | 62 | €66,175 | €87,233 | +€21,057 | +31.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,045 | €22,655 | -€390 | -1.7% |
| Other operating charges | 640/8 | €4,171 | €4,227 | +€56 | +1.3% |
| Gross operating margin | 9900 | €205,395 | €241,950 | +€36,555 | +17.8% |
| Operating profit (loss) | 9901 | €112,004 | €127,835 | +€15,832 | +14.1% |
| Financial income | 75/76B | €2,667 | €722 | -€1,945 | -72.9% |
| Recurring financial income | 75 | €2,667 | €722 | -€1,945 | -72.9% |
| Financial charges | 65/66B | €4,228 | €4,618 | +€390 | +9.2% |
| Recurring financial charges | 65 | €4,228 | €4,618 | +€390 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €110,442 | €123,939 | +€13,497 | +12.2% |
| Income taxes | 67/77 | €29,471 | €35,809 | +€6,338 | +21.5% |
| Profit (loss) for the period | 9904 | €80,971 | €88,130 | +€7,159 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €80,971 | €88,130 | +€7,159 | +8.8% |
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 30 October 2026 via checked.be.