BELLE PRINT: 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 PRINT
Largest movements
- Receivables within one year +€70,739
up €70,739 (+364%), from €19,440 to €90,179
of which Other amounts receivable: +€72,102
- Tangible fixed assets -€26,499
down €26,499 (-5.8%), from €453,184 to €426,685
of which Land and buildings: -€26,113
- Cash +€26,428
up €26,428 (+44.6%), from €59,253 to €85,682
mainly Net result for the year (+€304,345) and Depreciation (+€26,499)
- Reserves +€304,345
up €304,345 (+53.8%), from €565,683 to €870,028
of which Distributable reserves: +€318,231
- Other debts -€225,003
down €225,003 (-77.0%), from €292,146 to €67,143
- Debts after one year -€27,396
down €27,396 (-12.6%), from €216,765 to €189,369
- Tax, wage and social debts +€20,549
up €20,549 (+127%), from €16,164 to €36,714
of which Taxes: +€22,075
- Financial income +€299,955
up €299,955 (+158,413%), from €189 to €300,144
- Taxes +€28,179
up €28,179 (+244%), from €11,531 to €39,711
- Depreciation -€1,638
down €1,638 (-5.8%), from €28,137 to €26,499
- Gross operating margin +€1,060
up €1,060 (+1.3%), from €80,700 to €81,761
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 | €1,131,878 | €1,202,634 | +€70,756 | +6.3% |
| Fixed assets | 21/28 | €1,053,184 | €1,026,685 | -€26,499 | -2.5% |
| Tangible fixed assets | 22/27 | €453,184 | €426,685 | -€26,499 | -5.8% |
| Land and buildings | 22 | €450,756 | €424,643 | -€26,113 | -5.8% |
| Plant, machinery and equipment | 23 | €2,428 | €2,042 | -€386 | -15.9% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €600,000 | €600,000 | = | 0.0% |
| Current assets | 29/58 | €78,694 | €175,949 | +€97,256 | +124% |
| Amounts receivable within one year | 40/41 | €19,440 | €90,179 | +€70,739 | +364% |
| Trade receivables | 40 | €19,440 | €18,076 | -€1,364 | -7.0% |
| Other amounts receivable | 41 | €0 | €72,102 | +€72,102 | |
| Cash at bank and in hand | 54/58 | €59,253 | €85,682 | +€26,428 | +44.6% |
| Deferred charges and accrued income | 490/1 | €0 | €89 | +€89 | |
| Total equity and liabilities | 10/49 | €1,131,878 | €1,202,634 | +€70,756 | +6.3% |
| Equity | 10/15 | €571,983 | €876,328 | +€304,345 | +53.2% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €565,683 | €870,028 | +€304,345 | +53.8% |
| Non-distributable reserves | 130/1 | €13,887 | €0 | -€13,887 | -100% |
| Reserves not available under the articles | 1311 | €13,887 | €0 | -€13,887 | -100% |
| Distributable reserves | 133 | €551,796 | €870,028 | +€318,231 | +57.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €559,895 | €326,307 | -€233,588 | -41.7% |
| Amounts payable after more than one year | 17 | €216,765 | €189,369 | -€27,396 | -12.6% |
| Financial debts | 170/4 | €216,765 | €189,369 | -€27,396 | -12.6% |
| Amounts payable within one year | 42/48 | €342,163 | €135,403 | -€206,759 | -60.4% |
| Current portion of amounts payable after more than one year | 42 | €27,188 | €27,396 | +€208 | +0.8% |
| Trade debts | 44 | €6,665 | €4,151 | -€2,514 | -37.7% |
| Suppliers | 440/4 | €6,665 | €4,151 | -€2,514 | -37.7% |
| Taxes, remuneration and social security | 45 | €16,164 | €36,714 | +€20,549 | +127% |
| Taxes | 450/3 | €12,139 | €34,214 | +€22,075 | +182% |
| Remuneration and social security | 454/9 | €4,026 | €2,500 | -€1,526 | -37.9% |
| Other amounts payable | 47/48 | €292,146 | €67,143 | -€225,003 | -77.0% |
| Accrued charges and deferred income | 492/3 | €968 | €1,534 | +€567 | +58.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,137 | €26,499 | -€1,638 | -5.8% |
| Other operating charges | 640/8 | €4,930 | €4,996 | +€66 | +1.3% |
| Gross operating margin | 9900 | €80,700 | €81,761 | +€1,060 | +1.3% |
| Operating profit (loss) | 9901 | €47,633 | €50,265 | +€2,632 | +5.5% |
| Financial income | 75/76B | €189 | €300,144 | +€299,955 | +158,413% |
| Recurring financial income | 75 | €189 | €300,144 | +€299,955 | +158,413% |
| Financial charges | 65/66B | €6,867 | €6,354 | -€513 | -7.5% |
| Recurring financial charges | 65 | €6,867 | €6,354 | -€513 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €40,955 | €344,055 | +€303,100 | +740% |
| Income taxes | 67/77 | €11,531 | €39,711 | +€28,179 | +244% |
| Profit (loss) for the period | 9904 | €29,424 | €304,345 | +€274,921 | +934% |
| Profit (loss) for the period to be appropriated | 9905 | €29,424 | €304,345 | +€274,921 | +934% |
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 25 October 2026 via checked.be.