BELLAU: 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.
BELLAU
Largest movements
- Tangible fixed assets -€118,817
down €118,817 (-2.2%), from €5.4m to €5.2m
of which Land and buildings: -€116,844
- Contributions +€3.0m
up €3.0m (+1349.5%), from €218,600 to €3.2m
- Revaluation surpluses -€3.0m
no longer reported in 2025 (was €3.0m)
- Other debts -€546,859
down €546,859 (-99.6%), from €548,784 to €1,925
- Debts after one year +€425,123
up €425,123 (+24.8%), from €1.7m to €2.1m
of which Other amounts payable: +€546,629
- Gross operating margin -€36,929
down €36,929 (-17.1%), from €216,509 to €179,580
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 | €5,531,738 | €5,441,192 | -€90,545 | -1.6% |
| Fixed assets | 21/28 | €5,364,846 | €5,246,029 | -€118,817 | -2.2% |
| Tangible fixed assets | 22/27 | €5,364,846 | €5,246,029 | -€118,817 | -2.2% |
| Land and buildings | 22 | €5,347,373 | €5,230,529 | -€116,844 | -2.2% |
| Plant, machinery and equipment | 23 | €17,473 | €15,500 | -€1,973 | -11.3% |
| Current assets | 29/58 | €166,892 | €195,163 | +€28,271 | +16.9% |
| Amounts receivable within one year | 40/41 | €108,000 | €108,000 | = | 0.0% |
| Other amounts receivable | 41 | €108,000 | €108,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €57,650 | €86,061 | +€28,411 | +49.3% |
| Deferred charges and accrued income | 490/1 | €1,242 | €1,102 | -€140 | -11.2% |
| Total equity and liabilities | 10/49 | €5,531,738 | €5,441,192 | -€90,545 | -1.6% |
| Equity | 10/15 | €3,133,278 | €3,153,458 | +€20,180 | +0.6% |
| Contributions | 10/11 | €218,600 | €3,168,600 | +€3.0m | +1349.5% |
| Revaluation surpluses | 12 | €2,950,000 | - | -€3.0m | |
| Profit (loss) carried forward | 14 | -€35,322 | -€15,142 | +€20,180 | +57.1% |
| Amounts payable | 17/49 | €2,398,460 | €2,287,734 | -€110,725 | -4.6% |
| Amounts payable after more than one year | 17 | €1,713,863 | €2,138,986 | +€425,123 | +24.8% |
| Financial debts | 170/4 | €1,713,863 | €1,592,357 | -€121,506 | -7.1% |
| Other amounts payable | 178/9 | - | €546,629 | +€546,629 | |
| Amounts payable within one year | 42/48 | €682,813 | €146,783 | -€536,030 | -78.5% |
| Current portion of amounts payable after more than one year | 42 | €119,613 | €121,506 | +€1,893 | +1.6% |
| Trade debts | 44 | €13,936 | €22,872 | +€8,936 | +64.1% |
| Suppliers | 440/4 | €13,936 | €22,872 | +€8,936 | +64.1% |
| Taxes, remuneration and social security | 45 | €480 | €480 | = | 0.0% |
| Taxes | 450/3 | €480 | €480 | = | 0.0% |
| Other amounts payable | 47/48 | €548,784 | €1,925 | -€546,859 | -99.6% |
| Accrued charges and deferred income | 492/3 | €1,785 | €1,966 | +€181 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,621 | €118,817 | +€196 | +0.2% |
| Other operating charges | 640/8 | €12,272 | €12,440 | +€168 | +1.4% |
| Gross operating margin | 9900 | €216,509 | €179,580 | -€36,929 | -17.1% |
| Operating profit (loss) | 9901 | €85,616 | €48,323 | -€37,293 | -43.6% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €30,119 | €28,143 | -€1,977 | -6.6% |
| Recurring financial charges | 65 | €30,119 | €28,143 | -€1,977 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €55,497 | €20,180 | -€35,317 | -63.6% |
| Profit (loss) for the period | 9904 | €55,497 | €20,180 | -€35,317 | -63.6% |
| Profit (loss) for the period to be appropriated | 9905 | €55,497 | €20,180 | -€35,317 | -63.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.