BELLE DESIGN: 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.
BELLE DESIGN
Largest movements
- Receivables within one year -€87,352
down €87,352 (-44.0%), from €198,416 to €111,064
of which Trade receivables: -€68,984
- Cash +€21,013
up €21,013 (+346%), from €6,072 to €27,084
mainly Receivables within one year (+€87,352) and Depreciation (+€12,167)
- Tangible fixed assets +€7,754
up €7,754 (+44.0%), from €17,638 to €25,391
of which Furniture and vehicles: +€11,530
- Trade debts -€56,901
down €56,901 (-53.3%), from €106,825 to €49,924
- Profit (loss) carried forward -€4,110
down €4,110 (-4.8%), from €85,437 to €81,327
- Tax, wage and social debts +€2,907
up €2,907 (+22.3%), from €13,058 to €15,964
of which Taxes: +€4,300
- Gross operating margin -€10,205
down €10,205 (-15.9%), from €64,171 to €53,965
- Taxes -€3,971
down €3,971 (-77.5%), from €5,126 to €1,155
- Depreciation +€3,403
up €3,403 (+38.8%), from €8,764 to €12,167
- Other operating charges +€1,965
up €1,965 (+73.1%), from €2,688 to €4,653
- Staff costs +€1,220
up €1,220 (+3.5%), from €34,579 to €35,799
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 | €225,779 | €168,095 | -€57,684 | -25.5% |
| Fixed assets | 21/28 | €19,138 | €26,891 | +€7,754 | +40.5% |
| Tangible fixed assets | 22/27 | €17,638 | €25,391 | +€7,754 | +44.0% |
| Plant, machinery and equipment | 23 | €9,848 | €6,072 | -€3,776 | -38.3% |
| Furniture and vehicles | 24 | €7,789 | €19,319 | +€11,530 | +148% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €206,642 | €141,204 | -€65,438 | -31.7% |
| Amounts receivable within one year | 40/41 | €198,416 | €111,064 | -€87,352 | -44.0% |
| Trade receivables | 40 | €153,173 | €84,189 | -€68,984 | -45.0% |
| Other amounts receivable | 41 | €45,243 | €26,875 | -€18,369 | -40.6% |
| Cash at bank and in hand | 54/58 | €6,072 | €27,084 | +€21,013 | +346% |
| Deferred charges and accrued income | 490/1 | €2,154 | €3,056 | +€902 | +41.9% |
| Total equity and liabilities | 10/49 | €225,779 | €168,095 | -€57,684 | -25.5% |
| Equity | 10/15 | €105,897 | €101,787 | -€4,110 | -3.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €85,437 | €81,327 | -€4,110 | -4.8% |
| Amounts payable | 17/49 | €119,882 | €66,308 | -€53,575 | -44.7% |
| Amounts payable within one year | 42/48 | €119,882 | €65,888 | -€53,994 | -45.0% |
| Trade debts | 44 | €106,825 | €49,924 | -€56,901 | -53.3% |
| Suppliers | 440/4 | €106,825 | €49,924 | -€56,901 | -53.3% |
| Taxes, remuneration and social security | 45 | €13,058 | €15,964 | +€2,907 | +22.3% |
| Taxes | 450/3 | €8,309 | €12,610 | +€4,300 | +51.8% |
| Remuneration and social security | 454/9 | €4,748 | €3,354 | -€1,394 | -29.4% |
| Other amounts payable | 47/48 | - | €0 | = | |
| Accrued charges and deferred income | 492/3 | - | €420 | +€420 | |
| Remuneration, social security and pensions | 62 | €34,579 | €35,799 | +€1,220 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,764 | €12,167 | +€3,403 | +38.8% |
| Other operating charges | 640/8 | €2,688 | €4,653 | +€1,965 | +73.1% |
| Gross operating margin | 9900 | €64,171 | €53,965 | -€10,205 | -15.9% |
| Operating profit (loss) | 9901 | €18,139 | €1,346 | -€16,793 | -92.6% |
| Financial income | 75/76B | €30 | - | -€30 | |
| Recurring financial income | 75 | €30 | - | -€30 | |
| Financial charges | 65/66B | €3,100 | €4,301 | +€1,201 | +38.7% |
| Recurring financial charges | 65 | €3,100 | €4,301 | +€1,201 | +38.7% |
| Profit (loss) for the period before taxes | 9903 | €15,069 | -€2,955 | -€18,024 | |
| Income taxes | 67/77 | €5,126 | €1,155 | -€3,971 | -77.5% |
| Profit (loss) for the period | 9904 | €9,943 | -€4,110 | -€14,053 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,943 | -€4,110 | -€14,053 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.