BELLATAIRE: 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.
BELLATAIRE
Largest movements
- Receivables within one year -€25,903
down €25,903 (-8.9%), from €291,859 to €265,956
of which Trade receivables: -€25,733
- Cash -€5,756
down €5,756 (-49.8%), from €11,556 to €5,800
mainly Net result for the year (-€22,077) and Tax, wage and social debts (-€7,375)
- Reserves -€22,077
down €22,077 (-19.4%), from €113,631 to €91,554
- Tax, wage and social debts -€7,375
down €7,375 (-19.6%), from €37,670 to €30,295
of which Taxes: -€9,822
- Accrued charges and deferred income -€4,529
no longer reported in 2025 (was €4,529)
- Gross operating margin -€35,712
down €35,712 (-28.8%), from €124,022 to €88,310
- Financial income -€13,560
down €13,560 (-99.5%), from €13,634 to €74
of which Non-recurring financial income: -€13,592
- Taxes -€12,423
down €12,423, from €12,370 to -€53
- Staff costs +€3,329
up €3,329 (+3.7%), from €91,006 to €94,335
- Financial charges +€3,049
up €3,049 (+27.0%), from €11,313 to €14,362
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 | €312,710 | €280,046 | -€32,664 | -10.4% |
| Fixed assets | 21/28 | €4,285 | €3,285 | -€1,000 | -23.3% |
| Tangible fixed assets | 22/27 | €4,085 | €3,085 | -€1,000 | -24.5% |
| Plant, machinery and equipment | 23 | €4,085 | €3,085 | -€1,000 | -24.5% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €308,425 | €276,761 | -€31,664 | -10.3% |
| Amounts receivable within one year | 40/41 | €291,859 | €265,956 | -€25,903 | -8.9% |
| Trade receivables | 40 | €289,768 | €264,035 | -€25,733 | -8.9% |
| Other amounts receivable | 41 | €2,091 | €1,921 | -€170 | -8.1% |
| Cash at bank and in hand | 54/58 | €11,556 | €5,800 | -€5,756 | -49.8% |
| Deferred charges and accrued income | 490/1 | €5,010 | €5,005 | -€5 | -0.1% |
| Total equity and liabilities | 10/49 | €312,710 | €280,046 | -€32,664 | -10.4% |
| Equity | 10/15 | €148,472 | €126,395 | -€22,077 | -14.9% |
| Contributions | 10/11 | €34,841 | €34,841 | = | 0.0% |
| Reserves | 13 | €113,631 | €91,554 | -€22,077 | -19.4% |
| Distributable reserves | 133 | €113,631 | €91,554 | -€22,077 | -19.4% |
| Amounts payable | 17/49 | €164,238 | €153,651 | -€10,588 | -6.4% |
| Amounts payable within one year | 42/48 | €159,710 | €153,651 | -€6,059 | -3.8% |
| Trade debts | 44 | €122,040 | €123,306 | +€1,266 | +1.0% |
| Suppliers | 440/4 | €122,040 | €123,306 | +€1,266 | +1.0% |
| Taxes, remuneration and social security | 45 | €37,670 | €30,295 | -€7,375 | -19.6% |
| Taxes | 450/3 | €13,019 | €3,197 | -€9,822 | -75.4% |
| Remuneration and social security | 454/9 | €24,651 | €27,098 | +€2,447 | +9.9% |
| Other amounts payable | 47/48 | - | €50 | +€50 | |
| Accrued charges and deferred income | 492/3 | €4,529 | - | -€4,529 | |
| Remuneration, social security and pensions | 62 | €91,006 | €94,335 | +€3,329 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,607 | €1,000 | -€607 | -37.8% |
| Other operating charges | 640/8 | €570 | €817 | +€246 | +43.2% |
| Gross operating margin | 9900 | €124,022 | €88,310 | -€35,712 | -28.8% |
| Operating profit (loss) | 9901 | €30,838 | -€7,842 | -€38,680 | |
| Financial income | 75/76B | €13,634 | €74 | -€13,560 | -99.5% |
| Recurring financial income | 75 | €43 | €74 | +€31 | +73.7% |
| Non-recurring financial income | 76B | €13,592 | - | -€13,592 | |
| Financial charges | 65/66B | €11,313 | €14,362 | +€3,049 | +27.0% |
| Recurring financial charges | 65 | €11,313 | €14,362 | +€3,049 | +27.0% |
| Profit (loss) for the period before taxes | 9903 | €33,159 | -€22,130 | -€55,289 | |
| Income taxes | 67/77 | €12,370 | -€53 | -€12,423 | |
| Profit (loss) for the period | 9904 | €20,790 | -€22,077 | -€42,866 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,790 | -€22,077 | -€42,866 |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.