BELLAMAR: 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.
BELLAMAR
Largest movements
- Financial fixed assets +€175,000
up €175,000 (+5833.3%), from €3,000 to €178,000
- Cash -€162,416
down €162,416 (-62.0%), from €262,020 to €99,604
mainly Investment in fixed assets (net) (-€175,000) and Receivables after one year (-€85,000)
- Receivables after one year +€85,000
up €85,000 (+8.1%), from €1.1m to €1.1m
- Deferred charges and accrued income +€28,225
new in 2024: €28,225
- Short-term financial debts +€150,000
up €150,000 (+75.0%), from €200,000 to €350,000
- Profit (loss) carried forward -€49,288
down €49,288 (-169.0%), from -€29,165 to -€78,453
- Tax, wage and social debts +€16,247
up €16,247 (+134.0%), from €12,125 to €28,371
of which Remuneration and social security: +€25,200
- Gross operating margin -€65,265
down €65,265 (-980.6%), from -€6,656 to -€71,921
- Financial income +€30,738
up €30,738 (+4391.1%), from €700 to €31,438
- Financial charges +€5,486
up €5,486 (+5255.0%), from €104 to €5,591
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,399,386 | €1,510,813 | +€111,428 | +8.0% |
| Fixed assets | 21/28 | €13,765 | €186,080 | +€172,314 | +1251.8% |
| Tangible fixed assets | 22/27 | €10,765 | €8,080 | -€2,686 | -24.9% |
| Other tangible fixed assets | 26 | €10,765 | €8,080 | -€2,686 | -24.9% |
| Financial fixed assets | 28 | €3,000 | €178,000 | +€175,000 | +5833.3% |
| Current assets | 29/58 | €1,385,620 | €1,324,733 | -€60,887 | -4.4% |
| Amounts receivable after more than one year | 29 | €1,050,000 | €1,135,000 | +€85,000 | +8.1% |
| Other amounts receivable | 291 | €1,050,000 | €1,135,000 | +€85,000 | +8.1% |
| Amounts receivable within one year | 40/41 | €73,600 | €61,904 | -€11,696 | -15.9% |
| Trade receivables | 40 | €73,600 | €61,890 | -€11,710 | -15.9% |
| Other amounts receivable | 41 | - | €14 | +€14 | |
| Cash at bank and in hand | 54/58 | €262,020 | €99,604 | -€162,416 | -62.0% |
| Deferred charges and accrued income | 490/1 | - | €28,225 | +€28,225 | |
| Total equity and liabilities | 10/49 | €1,399,386 | €1,510,813 | +€111,428 | +8.0% |
| Equity | 10/15 | €1,103,369 | €1,054,081 | -€49,288 | -4.5% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Uncalled capital | 101 | €0 | - | = | |
| Reserves | 13 | €132,534 | €132,534 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €32,534 | €32,534 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,165 | -€78,453 | -€49,288 | -169.0% |
| Amounts payable | 17/49 | €296,016 | €456,732 | +€160,715 | +54.3% |
| Amounts payable within one year | 42/48 | €296,016 | €456,732 | +€160,715 | +54.3% |
| Financial debts | 43 | €200,000 | €350,000 | +€150,000 | +75.0% |
| Other loans | 439 | €200,000 | €350,000 | +€150,000 | +75.0% |
| Trade debts | 44 | €540 | €1,265 | +€725 | +134.4% |
| Suppliers | 440/4 | €540 | €1,265 | +€725 | +134.4% |
| Taxes, remuneration and social security | 45 | €12,125 | €28,371 | +€16,247 | +134.0% |
| Taxes | 450/3 | €12,125 | €3,171 | -€8,953 | -73.8% |
| Remuneration and social security | 454/9 | €0 | €25,200 | +€25,200 | |
| Other amounts payable | 47/48 | €83,352 | €77,095 | -€6,257 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,686 | €2,686 | = | 0.0% |
| Other operating charges | 640/8 | €1,092 | €528 | -€564 | -51.7% |
| Gross operating margin | 9900 | -€6,656 | -€71,921 | -€65,265 | -980.6% |
| Operating profit (loss) | 9901 | -€10,434 | -€75,135 | -€64,701 | -620.1% |
| Financial income | 75/76B | €700 | €31,438 | +€30,738 | +4391.1% |
| Recurring financial income | 75 | €700 | €31,438 | +€30,738 | +4391.1% |
| Financial charges | 65/66B | €104 | €5,591 | +€5,486 | +5255.0% |
| Recurring financial charges | 65 | €104 | €5,591 | +€5,486 | +5255.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,838 | -€49,288 | -€39,450 | -401.0% |
| Profit (loss) for the period | 9904 | -€9,838 | -€49,288 | -€39,450 | -401.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,838 | -€49,288 | -€39,450 | -401.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.