BellaNina: 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.
BellaNina
Largest movements
- Tangible fixed assets +€27,062
up €27,062 (+31.8%), from €84,984 to €112,046
of which Plant, machinery and equipment: +€27,282
- Stocks and contracts +€17,502
new in 2025: €17,502
- Cash -€2,861
down €2,861 (-8.8%), from €32,646 to €29,785
mainly Investment in fixed assets (net) (-€52,845) and Stocks and contracts (-€17,502)
- Receivables within one year -€2,296
no longer reported in 2025 (was €2,296)
of which Other amounts receivable: -€2,234
- Debts after one year +€22,183
new in 2025: €22,183
- Other debts -€16,823
down €16,823 (-43.2%), from €38,917 to €22,094
- Tax, wage and social debts +€16,319
up €16,319 (+37.7%), from €43,252 to €59,571
of which Remuneration and social security: +€14,826
- Profit (loss) carried forward +€13,660
up €13,660 (+53.2%), from €25,674 to €39,334
- Current portion of long-term debt +€8,342
new in 2025: €8,342
- Gross operating margin +€91,123
up €91,123 (+97.1%), from €93,803 to €184,926
- Staff costs +€88,299
up €88,299 (+171%), from €51,758 to €140,057
- Depreciation +€20,949
up €20,949 (+433%), from €4,834 to €25,783
- Taxes -€6,466
down €6,466 (-64.0%), from €10,100 to €3,634
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 | €121,311 | €160,347 | +€39,036 | +32.2% |
| Fixed assets | 21/28 | €84,984 | €112,046 | +€27,062 | +31.8% |
| Tangible fixed assets | 22/27 | €84,984 | €112,046 | +€27,062 | +31.8% |
| Plant, machinery and equipment | 23 | €83,934 | €111,216 | +€27,282 | +32.5% |
| Furniture and vehicles | 24 | €1,050 | €830 | -€220 | -21.0% |
| Current assets | 29/58 | €36,327 | €48,301 | +€11,974 | +33.0% |
| Stocks and contracts in progress | 3 | - | €17,502 | +€17,502 | |
| Stocks | 30/36 | - | €17,502 | +€17,502 | |
| Amounts receivable within one year | 40/41 | €2,296 | - | -€2,296 | |
| Trade receivables | 40 | €62 | - | -€62 | |
| Other amounts receivable | 41 | €2,234 | - | -€2,234 | |
| Cash at bank and in hand | 54/58 | €32,646 | €29,785 | -€2,861 | -8.8% |
| Deferred charges and accrued income | 490/1 | €1,385 | €1,014 | -€371 | -26.8% |
| Total equity and liabilities | 10/49 | €121,311 | €160,347 | +€39,036 | +32.2% |
| Equity | 10/15 | €30,674 | €44,334 | +€13,660 | +44.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,674 | €39,334 | +€13,660 | +53.2% |
| Amounts payable | 17/49 | €90,637 | €116,013 | +€25,376 | +28.0% |
| Amounts payable after more than one year | 17 | - | €22,183 | +€22,183 | |
| Financial debts | 170/4 | - | €22,183 | +€22,183 | |
| Amounts payable within one year | 42/48 | €90,637 | €91,470 | +€833 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | - | €8,342 | +€8,342 | |
| Trade debts | 44 | €8,467 | €1,463 | -€7,005 | -82.7% |
| Suppliers | 440/4 | €8,467 | €1,463 | -€7,005 | -82.7% |
| Taxes, remuneration and social security | 45 | €43,252 | €59,571 | +€16,319 | +37.7% |
| Taxes | 450/3 | €30,961 | €32,453 | +€1,492 | +4.8% |
| Remuneration and social security | 454/9 | €12,291 | €27,117 | +€14,826 | +121% |
| Other amounts payable | 47/48 | €38,917 | €22,094 | -€16,823 | -43.2% |
| Accrued charges and deferred income | 492/3 | - | €2,360 | +€2,360 | |
| Remuneration, social security and pensions | 62 | €51,758 | €140,057 | +€88,299 | +171% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,834 | €25,783 | +€20,949 | +433% |
| Other operating charges | 640/8 | €842 | €757 | -€85 | -10.1% |
| Gross operating margin | 9900 | €93,803 | €184,926 | +€91,123 | +97.1% |
| Operating profit (loss) | 9901 | €36,369 | €18,330 | -€18,039 | -49.6% |
| Financial income | 75/76B | €22 | €0 | -€22 | -99.8% |
| Recurring financial income | 75 | €22 | €0 | -€22 | -99.8% |
| Financial charges | 65/66B | €617 | €1,036 | +€419 | +68.0% |
| Recurring financial charges | 65 | €617 | €1,036 | +€419 | +68.0% |
| Profit (loss) for the period before taxes | 9903 | €35,774 | €17,294 | -€18,480 | -51.7% |
| Income taxes | 67/77 | €10,100 | €3,634 | -€6,466 | -64.0% |
| Profit (loss) for the period | 9904 | €25,674 | €13,660 | -€12,014 | -46.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,674 | €13,660 | -€12,014 | -46.8% |
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 13 October 2026 via checked.be.