BELLAR: 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.
BELLAR
Largest movements
- Cash -€43,733
down €43,733 (-82.9%), from €52,727 to €8,994
mainly Net result for the year (-€16,636) and Receivables within one year (-€13,545)
- Receivables within one year +€13,545
up €13,545 (+451.2%), from €3,002 to €16,547
of which Other amounts receivable: +€6,866
- Tangible fixed assets +€10,559
up €10,559 (+705.9%), from €1,496 to €12,055
of which Furniture and vehicles: +€11,112
- Profit (loss) carried forward -€16,636
down €16,636 (-39.4%), from €42,202 to €25,566
- Tax, wage and social debts -€9,827
no longer reported in 2025 (was €9,827)
- Debts after one year +€5,014
new in 2025: €5,014
- Current portion of long-term debt +€2,569
new in 2025: €2,569
- Trade debts -€965
no longer reported in 2025 (was €965)
- Gross operating margin -€24,929
down €24,929, from €11,872 to -€13,057
- Depreciation -€6,051
down €6,051 (-75.1%), from €8,062 to €2,010
- Taxes -€921
no longer reported in 2025 (was €921)
- Financial charges +€286
up €286 (+76.8%), from €373 to €659
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.
Cash bridge derived
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 | €57,494 | €37,649 | -€19,845 | -34.5% |
| Formation expenses | 20 | €270 | €53 | -€216 | -80.2% |
| Fixed assets | 21/28 | €1,496 | €12,055 | +€10,559 | +705.9% |
| Tangible fixed assets | 22/27 | €1,496 | €12,055 | +€10,559 | +705.9% |
| Plant, machinery and equipment | 23 | €941 | €389 | -€552 | -58.7% |
| Furniture and vehicles | 24 | €555 | €11,666 | +€11,112 | +2002.9% |
| Current assets | 29/58 | €55,729 | €25,540 | -€30,188 | -54.2% |
| Amounts receivable within one year | 40/41 | €3,002 | €16,547 | +€13,545 | +451.2% |
| Trade receivables | 40 | €943 | €7,622 | +€6,679 | +708.0% |
| Other amounts receivable | 41 | €2,058 | €8,925 | +€6,866 | +333.6% |
| Cash at bank and in hand | 54/58 | €52,727 | €8,994 | -€43,733 | -82.9% |
| Total equity and liabilities | 10/49 | €57,494 | €37,649 | -€19,845 | -34.5% |
| Equity | 10/15 | €46,702 | €30,066 | -€16,636 | -35.6% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,202 | €25,566 | -€16,636 | -39.4% |
| Amounts payable | 17/49 | €10,793 | €7,583 | -€3,210 | -29.7% |
| Amounts payable after more than one year | 17 | - | €5,014 | +€5,014 | |
| Financial debts | 170/4 | - | €5,014 | +€5,014 | |
| Amounts payable within one year | 42/48 | €10,793 | €2,569 | -€8,224 | -76.2% |
| Current portion of amounts payable after more than one year | 42 | - | €2,569 | +€2,569 | |
| Trade debts | 44 | €965 | - | -€965 | |
| Suppliers | 440/4 | €965 | - | -€965 | |
| Taxes, remuneration and social security | 45 | €9,827 | - | -€9,827 | |
| Taxes | 450/3 | €9,827 | - | -€9,827 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,062 | €2,010 | -€6,051 | -75.1% |
| Other operating charges | 640/8 | €1,203 | €1,151 | -€52 | -4.3% |
| Gross operating margin | 9900 | €11,872 | -€13,057 | -€24,929 | |
| Operating profit (loss) | 9901 | €2,608 | -€16,218 | -€18,826 | |
| Financial income | 75/76B | €305 | €241 | -€64 | -21.0% |
| Recurring financial income | 75 | €305 | €241 | -€64 | -21.0% |
| Financial charges | 65/66B | €373 | €659 | +€286 | +76.8% |
| Recurring financial charges | 65 | €373 | €659 | +€286 | +76.8% |
| Profit (loss) for the period before taxes | 9903 | €2,540 | -€16,636 | -€19,176 | |
| Income taxes | 67/77 | €921 | - | -€921 | |
| Profit (loss) for the period | 9904 | €1,619 | -€16,636 | -€18,255 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,619 | -€16,636 | -€18,255 |
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 9 October 2026 via checked.be.