BELLDENT: 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.
BELLDENT
Largest movements
- Current investments +€60,000
new in 2025: €60,000
- Cash -€54,398
down €54,398 (-35.9%), from €151,419 to €97,020
mainly Contributions, distributions and other (-€110,572) and Current investments (-€60,000)
- Receivables within one year -€16,744
down €16,744 (-44.3%), from €37,811 to €21,067
of which Other amounts receivable: -€21,431
- Tangible fixed assets +€10,478
up €10,478 (+9.7%), from €108,006 to €118,484
of which Land and buildings: +€22,296
- Other debts +€31,983
new in 2025: €31,983
- Reserves -€25,415
down €25,415 (-9.4%), from €269,721 to €244,306
- Trade debts -€6,476
down €6,476 (-64.9%), from €9,974 to €3,498
- Gross operating margin +€41,634
up €41,634 (+40.6%), from €102,560 to €144,194
- Taxes +€11,600
up €11,600 (+54.0%), from €21,490 to €33,089
- Depreciation +€2,014
up €2,014 (+9.9%), from €20,322 to €22,336
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 | €301,571 | €302,798 | +€1,227 | +0.4% |
| Fixed assets | 21/28 | €108,006 | €118,484 | +€10,478 | +9.7% |
| Tangible fixed assets | 22/27 | €108,006 | €118,484 | +€10,478 | +9.7% |
| Land and buildings | 22 | - | €22,296 | +€22,296 | |
| Plant, machinery and equipment | 23 | €77,274 | €65,799 | -€11,475 | -14.8% |
| Furniture and vehicles | 24 | €2,584 | €2,183 | -€401 | -15.5% |
| Other tangible fixed assets | 26 | €28,148 | €28,206 | +€57 | +0.2% |
| Current assets | 29/58 | €193,565 | €184,314 | -€9,251 | -4.8% |
| Amounts receivable within one year | 40/41 | €37,811 | €21,067 | -€16,744 | -44.3% |
| Trade receivables | 40 | €14,648 | €19,336 | +€4,687 | +32.0% |
| Other amounts receivable | 41 | €23,162 | €1,731 | -€21,431 | -92.5% |
| Current investments | 50/53 | - | €60,000 | +€60,000 | |
| Cash at bank and in hand | 54/58 | €151,419 | €97,020 | -€54,398 | -35.9% |
| Deferred charges and accrued income | 490/1 | €4,335 | €6,227 | +€1,891 | +43.6% |
| Total equity and liabilities | 10/49 | €301,571 | €302,798 | +€1,227 | +0.4% |
| Equity | 10/15 | €275,921 | €250,506 | -€25,415 | -9.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €269,721 | €244,306 | -€25,415 | -9.4% |
| Distributable reserves | 133 | €269,721 | €244,306 | -€25,415 | -9.4% |
| Amounts payable | 17/49 | €25,650 | €52,292 | +€26,642 | +103.9% |
| Amounts payable within one year | 42/48 | €25,584 | €51,825 | +€26,241 | +102.6% |
| Trade debts | 44 | €9,974 | €3,498 | -€6,476 | -64.9% |
| Suppliers | 440/4 | €9,974 | €3,498 | -€6,476 | -64.9% |
| Taxes, remuneration and social security | 45 | €15,610 | €16,344 | +€734 | +4.7% |
| Taxes | 450/3 | €15,610 | €16,344 | +€734 | +4.7% |
| Other amounts payable | 47/48 | - | €31,983 | +€31,983 | |
| Accrued charges and deferred income | 492/3 | €66 | €467 | +€401 | +610.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,322 | €22,336 | +€2,014 | +9.9% |
| Other operating charges | 640/8 | €726 | €688 | -€38 | -5.3% |
| Gross operating margin | 9900 | €102,560 | €144,194 | +€41,634 | +40.6% |
| Operating profit (loss) | 9901 | €81,512 | €121,171 | +€39,659 | +48.7% |
| Financial income | 75/76B | €981 | €178 | -€803 | -81.9% |
| Recurring financial income | 75 | €981 | €178 | -€803 | -81.9% |
| Financial charges | 65/66B | €2,976 | €3,103 | +€127 | +4.3% |
| Recurring financial charges | 65 | €2,976 | €3,103 | +€127 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €79,517 | €118,246 | +€38,728 | +48.7% |
| Income taxes | 67/77 | €21,490 | €33,089 | +€11,600 | +54.0% |
| Profit (loss) for the period | 9904 | €58,028 | €85,156 | +€27,129 | +46.8% |
| Profit (loss) for the period to be appropriated | 9905 | €58,028 | €85,156 | +€27,129 | +46.8% |
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 4 October 2026 via checked.be.