Bella Squadra: 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 Squadra
Largest movements
- Financial fixed assets +€13,334
up €13,334 (+57.1%), from €23,360 to €36,694
- Intangible fixed assets -€10,000
down €10,000 (-11.8%), from €85,000 to €75,000
- Stocks and contracts -€9,014
down €9,014 (-49.7%), from €18,141 to €9,127
- Cash -€4,155
down €4,155 (-18.0%), from €23,046 to €18,891
mainly Net result for the year (-€160,985) and Investment in fixed assets (net) (-€13,334)
- Tangible fixed assets -€1,895
down €1,895 (-26.0%), from €7,274 to €5,380
- Profit (loss) carried forward -€160,985
down €160,985 (-84.9%), from -€189,693 to -€350,678
- Accrued charges and deferred income +€43,755
new in 2025: €43,755
- Trade debts +€42,086
up €42,086 (+64.2%), from €65,545 to €107,631
- Debts after one year +€36,112
up €36,112 (+71.9%), from €50,250 to €86,362
- Tax, wage and social debts +€16,650
up €16,650 (+8.4%), from €197,327 to €213,977
of which Taxes: +€24,810
- Gross operating margin +€49,819
up €49,819 (+15.0%), from €332,373 to €382,192
- Staff costs +€16,693
up €16,693 (+3.4%), from €485,275 to €501,968
- Financial charges +€10,487
up €10,487 (+58.2%), from €18,023 to €28,510
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 | €159,761 | €146,567 | -€13,194 | -8.3% |
| Fixed assets | 21/28 | €115,634 | €117,074 | +€1,439 | +1.2% |
| Intangible fixed assets | 21 | €85,000 | €75,000 | -€10,000 | -11.8% |
| Tangible fixed assets | 22/27 | €7,274 | €5,380 | -€1,895 | -26.0% |
| Furniture and vehicles | 24 | €7,274 | €5,380 | -€1,895 | -26.0% |
| Financial fixed assets | 28 | €23,360 | €36,694 | +€13,334 | +57.1% |
| Current assets | 29/58 | €44,127 | €29,494 | -€14,633 | -33.2% |
| Stocks and contracts in progress | 3 | €18,141 | €9,127 | -€9,014 | -49.7% |
| Stocks | 30/36 | €18,141 | €9,127 | -€9,014 | -49.7% |
| Amounts receivable within one year | 40/41 | €2,939 | €1,475 | -€1,464 | -49.8% |
| Trade receivables | 40 | €2,739 | €675 | -€2,064 | -75.3% |
| Other amounts receivable | 41 | €200 | €800 | +€600 | +300% |
| Cash at bank and in hand | 54/58 | €23,046 | €18,891 | -€4,155 | -18.0% |
| Total equity and liabilities | 10/49 | €159,761 | €146,567 | -€13,194 | -8.3% |
| Equity | 10/15 | -€186,693 | -€347,678 | -€160,985 | -86.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Capital | 10 | €3,000 | €3,000 | = | 0.0% |
| Issued capital | 100 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€189,693 | -€350,678 | -€160,985 | -84.9% |
| Amounts payable | 17/49 | €346,455 | €494,245 | +€147,790 | +42.7% |
| Amounts payable after more than one year | 17 | €50,250 | €86,362 | +€36,112 | +71.9% |
| Other amounts payable | 178/9 | €50,250 | €86,362 | +€36,112 | +71.9% |
| Amounts payable within one year | 42/48 | €296,205 | €364,128 | +€67,923 | +22.9% |
| Current portion of amounts payable after more than one year | 42 | €33,333 | €33,333 | = | 0.0% |
| Trade debts | 44 | €65,545 | €107,631 | +€42,086 | +64.2% |
| Suppliers | 440/4 | €65,545 | €107,631 | +€42,086 | +64.2% |
| Advances received on contracts in progress | 46 | - | €8,212 | +€8,212 | |
| Taxes, remuneration and social security | 45 | €197,327 | €213,977 | +€16,650 | +8.4% |
| Taxes | 450/3 | €73,134 | €97,944 | +€24,810 | +33.9% |
| Remuneration and social security | 454/9 | €124,193 | €116,033 | -€8,160 | -6.6% |
| Other amounts payable | 47/48 | - | €975 | +€975 | |
| Accrued charges and deferred income | 492/3 | - | €43,755 | +€43,755 | |
| Remuneration, social security and pensions | 62 | €485,275 | €501,968 | +€16,693 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,794 | €11,895 | +€101 | +0.9% |
| Other operating charges | 640/8 | - | €804 | +€804 | |
| Non-recurring operating charges | 66A | €1,926 | - | -€1,926 | |
| Gross operating margin | 9900 | €332,373 | €382,192 | +€49,819 | +15.0% |
| Operating profit (loss) | 9901 | -€166,622 | -€132,475 | +€34,147 | +20.5% |
| Financial charges | 65/66B | €18,023 | €28,510 | +€10,487 | +58.2% |
| Recurring financial charges | 65 | €18,023 | €28,510 | +€10,487 | +58.2% |
| Profit (loss) for the period before taxes | 9903 | -€184,645 | -€160,985 | +€23,660 | +12.8% |
| Profit (loss) for the period | 9904 | -€184,645 | -€160,985 | +€23,660 | +12.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€184,645 | -€160,985 | +€23,660 | +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 19 October 2026 via checked.be.