Bellavino: 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.
Bellavino
Largest movements
- Receivables within one year -€86,705
down €86,705 (-83.1%), from €104,303 to €17,598
of which Trade receivables: -€86,876
- Cash -€5,320
down €5,320 (-52.0%), from €10,236 to €4,916
mainly Trade debts (-€81,624) and Advances received (-€17,071)
- Tangible fixed assets -€4,093
down €4,093 (-16.7%), from €24,478 to €20,385
of which Land and buildings: -€2,792
- Trade debts -€81,624
down €81,624 (-78.9%), from €103,389 to €21,765
- Advances received -€17,071
down €17,071 (-100%), from €17,071 to €0
- Debts after one year -€14,500
down €14,500 (-9.7%), from €149,855 to €135,355
- Other debts +€8,859
new in 2025: €8,859
- Tax, wage and social debts +€5,072
up €5,072 (+14.3%), from €35,445 to €40,518
of which Remuneration and social security: +€3,499
- Gross operating margin -€5,197
down €5,197 (-4.8%), from €108,329 to €103,132
- Financial income -€3,847
down €3,847 (-99.5%), from €3,866 to €20
- Taxes -€3,280
down €3,280 (-62.9%), from €5,212 to €1,932
- Staff costs +€3,038
up €3,038 (+3.6%), from €84,029 to €87,067
- Other operating charges +€1,423
up €1,423 (+68.3%), from €2,083 to €3,506
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 | €342,761 | €246,091 | -€96,670 | -28.2% |
| Fixed assets | 21/28 | €28,828 | €24,735 | -€4,093 | -14.2% |
| Tangible fixed assets | 22/27 | €24,478 | €20,385 | -€4,093 | -16.7% |
| Land and buildings | 22 | €15,139 | €12,348 | -€2,792 | -18.4% |
| Plant, machinery and equipment | 23 | €1,941 | €1,038 | -€903 | -46.5% |
| Furniture and vehicles | 24 | €7,398 | €7,000 | -€398 | -5.4% |
| Financial fixed assets | 28 | €4,350 | €4,350 | = | 0.0% |
| Current assets | 29/58 | €313,932 | €221,356 | -€92,577 | -29.5% |
| Amounts receivable after more than one year | 29 | €192,773 | €192,773 | = | 0.0% |
| Trade receivables | 290 | €192,773 | €192,773 | = | 0.0% |
| Stocks and contracts in progress | 3 | €5,053 | €5,329 | +€277 | +5.5% |
| Stocks | 30/36 | €5,053 | €5,329 | +€277 | +5.5% |
| Amounts receivable within one year | 40/41 | €104,303 | €17,598 | -€86,705 | -83.1% |
| Trade receivables | 40 | €104,303 | €17,427 | -€86,876 | -83.3% |
| Other amounts receivable | 41 | - | €170 | +€170 | |
| Cash at bank and in hand | 54/58 | €10,236 | €4,916 | -€5,320 | -52.0% |
| Deferred charges and accrued income | 490/1 | €1,568 | €740 | -€828 | -52.8% |
| Total equity and liabilities | 10/49 | €342,761 | €246,091 | -€96,670 | -28.2% |
| Equity | 10/15 | €37,000 | €39,595 | +€2,594 | +7.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €30,800 | €33,395 | +€2,594 | +8.4% |
| Non-distributable reserves | 130/1 | €14 | €14 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14 | €14 | = | 0.0% |
| Distributable reserves | 133 | €30,786 | €33,381 | +€2,594 | +8.4% |
| Amounts payable | 17/49 | €305,760 | €206,496 | -€99,264 | -32.5% |
| Amounts payable after more than one year | 17 | €149,855 | €135,355 | -€14,500 | -9.7% |
| Financial debts | 170/4 | €149,855 | €135,355 | -€14,500 | -9.7% |
| Amounts payable within one year | 42/48 | €155,905 | €71,141 | -€84,764 | -54.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €103,389 | €21,765 | -€81,624 | -78.9% |
| Suppliers | 440/4 | €103,389 | €21,765 | -€81,624 | -78.9% |
| Advances received on contracts in progress | 46 | €17,071 | €0 | -€17,071 | -100% |
| Taxes, remuneration and social security | 45 | €35,445 | €40,518 | +€5,072 | +14.3% |
| Taxes | 450/3 | €20,166 | €21,739 | +€1,573 | +7.8% |
| Remuneration and social security | 454/9 | €15,280 | €18,779 | +€3,499 | +22.9% |
| Other amounts payable | 47/48 | - | €8,859 | +€8,859 | |
| Remuneration, social security and pensions | 62 | €84,029 | €87,067 | +€3,038 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,001 | €5,229 | +€229 | +4.6% |
| Other operating charges | 640/8 | €2,083 | €3,506 | +€1,423 | +68.3% |
| Gross operating margin | 9900 | €108,329 | €103,132 | -€5,197 | -4.8% |
| Operating profit (loss) | 9901 | €17,216 | €7,329 | -€9,887 | -57.4% |
| Financial income | 75/76B | €3,866 | €20 | -€3,847 | -99.5% |
| Recurring financial income | 75 | €3,866 | €20 | -€3,847 | -99.5% |
| Financial charges | 65/66B | €3,713 | €2,822 | -€891 | -24.0% |
| Recurring financial charges | 65 | €3,713 | €2,822 | -€891 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | €17,369 | €4,526 | -€12,842 | -73.9% |
| Income taxes | 67/77 | €5,212 | €1,932 | -€3,280 | -62.9% |
| Profit (loss) for the period | 9904 | €12,157 | €2,594 | -€9,562 | -78.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,157 | €2,594 | -€9,562 | -78.7% |
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 28 October 2026 via checked.be.