BELLCRO: 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.
BELLCRO
Largest movements
- Tangible fixed assets -€7,211
down €7,211 (-2.9%), from €252,724 to €245,513
of which Land and buildings: -€7,021
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€283,459
down €283,459 (-96.4%), from €294,112 to €10,653
- Taxes -€56,860
down €56,860 (-99.1%), from €57,403 to €543
- Other operating charges -€3,676
down €3,676 (-38.7%), from €9,502 to €5,826
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 | €545,913 | €541,997 | -€3,916 | -0.7% |
| Fixed assets | 21/28 | €252,724 | €245,513 | -€7,211 | -2.9% |
| Tangible fixed assets | 22/27 | €252,724 | €245,513 | -€7,211 | -2.9% |
| Land and buildings | 22 | €252,344 | €245,323 | -€7,021 | -2.8% |
| Plant, machinery and equipment | 23 | €380 | €190 | -€190 | -50.0% |
| Current assets | 29/58 | €293,188 | €296,484 | +€3,295 | +1.1% |
| Amounts receivable within one year | 40/41 | €0 | €5,042 | +€5,042 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | - | €5,042 | +€5,042 | |
| Cash at bank and in hand | 54/58 | €290,605 | €289,409 | -€1,196 | -0.4% |
| Deferred charges and accrued income | 490/1 | €2,584 | €2,033 | -€551 | -21.3% |
| Total equity and liabilities | 10/49 | €545,913 | €541,997 | -€3,916 | -0.7% |
| Equity | 10/15 | €362,759 | €360,855 | -€1,904 | -0.5% |
| Contributions | 10/11 | €286,413 | €286,413 | = | 0.0% |
| Capital | 10 | €286,413 | €286,413 | = | 0.0% |
| Issued capital | 100 | €286,413 | €286,413 | = | 0.0% |
| Reserves | 13 | €28,641 | €28,641 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28,641 | €28,641 | = | 0.0% |
| Legal reserve | 130 | €28,641 | €28,641 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,705 | €45,801 | -€1,904 | -4.0% |
| Amounts payable | 17/49 | €183,154 | €181,142 | -€2,012 | -1.1% |
| Amounts payable within one year | 42/48 | €181,389 | €179,679 | -€1,710 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €63,453 | €63,453 | = | 0.0% |
| Trade debts | 44 | €228 | €391 | +€162 | +71.1% |
| Suppliers | 440/4 | €228 | €391 | +€162 | +71.1% |
| Taxes, remuneration and social security | 45 | €1,799 | €0 | -€1,799 | -100.0% |
| Taxes | 450/3 | €1,799 | €0 | -€1,799 | -100.0% |
| Other amounts payable | 47/48 | €115,910 | €115,836 | -€74 | -0.1% |
| Accrued charges and deferred income | 492/3 | €1,764 | €1,463 | -€302 | -17.1% |
| Non-recurring operating income | 76A | €270,959 | €0 | -€270,959 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,029 | €9,198 | +€169 | +1.9% |
| Other operating charges | 640/8 | €9,502 | €5,826 | -€3,676 | -38.7% |
| Gross operating margin | 9900 | €294,112 | €10,653 | -€283,459 | -96.4% |
| Operating profit (loss) | 9901 | €275,581 | -€4,371 | -€279,952 | |
| Financial income | 75/76B | €632 | €3,200 | +€2,569 | +406.7% |
| Recurring financial income | 75 | €632 | €3,200 | +€2,569 | +406.7% |
| Financial charges | 65/66B | €388 | €190 | -€198 | -51.0% |
| Recurring financial charges | 65 | €388 | €190 | -€198 | -51.0% |
| Profit (loss) for the period before taxes | 9903 | €275,825 | -€1,361 | -€277,186 | |
| Income taxes | 67/77 | €57,403 | €543 | -€56,860 | -99.1% |
| Profit (loss) for the period | 9904 | €218,421 | -€1,904 | -€220,325 | |
| Profit (loss) for the period to be appropriated | 9905 | €218,421 | -€1,904 | -€220,325 |
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.