Belle Gand: 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 Gand
Largest movements
- Stocks and contracts -€1.0m
down €1.0m (-47.0%), from €2.2m to €1.2m
- Short-term financial debts -€901,334
down €901,334 (-100%), from €901,334 to €0
- Debts after one year -€268,300
down €268,300 (-25.6%), from €1.0m to €778,325
- Accrued charges and deferred income +€142,242
up €142,242 (+58.2%), from €244,570 to €386,812
- Gross operating margin +€2,672
up €2,672, from -€241 to €2,431
- Other operating charges -€966
down €966 (-88.9%), from €1,086 to €120
- Financial charges +€30
up €30 (+20.0%), from €150 to €180
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 | €2,202,418 | €1,177,158 | -€1.0m | -46.6% |
| Current assets | 29/58 | €2,202,418 | €1,177,158 | -€1.0m | -46.6% |
| Stocks and contracts in progress | 3 | €2,201,839 | €1,166,839 | -€1.0m | -47.0% |
| Stocks | 30/36 | €2,201,839 | €1,166,839 | -€1.0m | -47.0% |
| Current investments | 50/53 | €579 | - | -€579 | |
| Cash at bank and in hand | 54/58 | - | €10,319 | +€10,319 | |
| Total equity and liabilities | 10/49 | €2,202,418 | €1,177,158 | -€1.0m | -46.6% |
| Equity | 10/15 | €9,890 | €12,021 | +€2,131 | +21.5% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,610 | -€479 | +€2,131 | +81.6% |
| Amounts payable | 17/49 | €2,192,528 | €1,165,137 | -€1.0m | -46.9% |
| Amounts payable after more than one year | 17 | €1,046,625 | €778,325 | -€268,300 | -25.6% |
| Financial debts | 170/4 | €1,046,625 | €778,325 | -€268,300 | -25.6% |
| Amounts payable within one year | 42/48 | €901,334 | €0 | -€901,334 | -100% |
| Financial debts | 43 | €901,334 | €0 | -€901,334 | -100% |
| Credit institutions | 430/8 | €901,334 | €0 | -€901,334 | -100% |
| Accrued charges and deferred income | 492/3 | €244,570 | €386,812 | +€142,242 | +58.2% |
| Other operating charges | 640/8 | €1,086 | €120 | -€966 | -88.9% |
| Gross operating margin | 9900 | -€241 | €2,431 | +€2,672 | |
| Operating profit (loss) | 9901 | -€1,327 | €2,311 | +€3,638 | |
| Financial charges | 65/66B | €150 | €180 | +€30 | +20.0% |
| Recurring financial charges | 65 | €150 | €180 | +€30 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,477 | €2,131 | +€3,608 | |
| Profit (loss) for the period | 9904 | -€1,477 | €2,131 | +€3,608 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,477 | €2,131 | +€3,608 |
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 26 October 2026 via checked.be.