BELLEDENTI: 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.
BELLEDENTI
Largest movements
- Tangible fixed assets -€48,286
down €48,286 (-26.0%), from €185,459 to €137,172
of which Land and buildings: -€24,475
- Cash +€35,772
up €35,772 (+27.9%), from €128,147 to €163,920
mainly Depreciation (+€49,509) and Net result for the year (+€45,583)
- Receivables within one year +€19,675
up €19,675 (+213%), from €9,221 to €28,896
of which Other amounts receivable: +€19,891
- Reserves +€45,583
up €45,583 (+31.1%), from €146,789 to €192,371
of which Distributable reserves: +€45,583
- Debts after one year -€26,883
down €26,883 (-25.2%), from €106,744 to €79,861
- Other debts -€17,454
down €17,454 (-97.9%), from €17,824 to €371
- Trade debts +€6,494
up €6,494 (+104%), from €6,261 to €12,755
- Gross operating margin -€69,640
down €69,640 (-30.4%), from €228,970 to €159,330
- Taxes -€13,385
down €13,385 (-51.5%), from €25,995 to €12,609
- Staff costs -€8,607
down €8,607 (-16.2%), from €53,224 to €44,618
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 | €330,418 | €337,994 | +€7,577 | +2.3% |
| Fixed assets | 21/28 | €185,459 | €137,172 | -€48,286 | -26.0% |
| Tangible fixed assets | 22/27 | €185,459 | €137,172 | -€48,286 | -26.0% |
| Land and buildings | 22 | €114,216 | €89,741 | -€24,475 | -21.4% |
| Plant, machinery and equipment | 23 | €12,542 | €5,511 | -€7,031 | -56.1% |
| Furniture and vehicles | 24 | €58,701 | €41,920 | -€16,781 | -28.6% |
| Current assets | 29/58 | €144,959 | €200,822 | +€55,863 | +38.5% |
| Amounts receivable within one year | 40/41 | €9,221 | €28,896 | +€19,675 | +213% |
| Trade receivables | 40 | €216 | €0 | -€216 | -100% |
| Other amounts receivable | 41 | €9,005 | €28,896 | +€19,891 | +221% |
| Cash at bank and in hand | 54/58 | €128,147 | €163,920 | +€35,772 | +27.9% |
| Deferred charges and accrued income | 490/1 | €7,590 | €8,006 | +€416 | +5.5% |
| Total equity and liabilities | 10/49 | €330,418 | €337,994 | +€7,577 | +2.3% |
| Equity | 10/15 | €165,389 | €210,971 | +€45,583 | +27.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €146,789 | €192,371 | +€45,583 | +31.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €144,929 | €190,511 | +€45,583 | +31.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €165,029 | €127,023 | -€38,006 | -23.0% |
| Amounts payable after more than one year | 17 | €106,744 | €79,861 | -€26,883 | -25.2% |
| Financial debts | 170/4 | €106,744 | €79,861 | -€26,883 | -25.2% |
| Amounts payable within one year | 42/48 | €58,285 | €47,162 | -€11,123 | -19.1% |
| Current portion of amounts payable after more than one year | 42 | €26,229 | €26,883 | +€654 | +2.5% |
| Trade debts | 44 | €6,261 | €12,755 | +€6,494 | +104% |
| Suppliers | 440/4 | €6,261 | €12,755 | +€6,494 | +104% |
| Taxes, remuneration and social security | 45 | €7,971 | €7,154 | -€817 | -10.2% |
| Remuneration and social security | 454/9 | €7,971 | €7,154 | -€817 | -10.2% |
| Other amounts payable | 47/48 | €17,824 | €371 | -€17,454 | -97.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €53,224 | €44,618 | -€8,607 | -16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,111 | €49,509 | -€602 | -1.2% |
| Other operating charges | 640/8 | €2,201 | €2,188 | -€13 | -0.6% |
| Gross operating margin | 9900 | €228,970 | €159,330 | -€69,640 | -30.4% |
| Operating profit (loss) | 9901 | €123,434 | €63,016 | -€60,418 | -48.9% |
| Financial income | 75/76B | €11 | €3 | -€8 | -71.7% |
| Recurring financial income | 75 | €11 | €3 | -€8 | -71.7% |
| Financial charges | 65/66B | €5,452 | €4,827 | -€625 | -11.5% |
| Recurring financial charges | 65 | €5,452 | €4,827 | -€625 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €117,993 | €58,192 | -€59,801 | -50.7% |
| Income taxes | 67/77 | €25,995 | €12,609 | -€13,385 | -51.5% |
| Profit (loss) for the period | 9904 | €91,998 | €45,583 | -€46,415 | -50.5% |
| Profit (loss) for the period to be appropriated | 9905 | €91,998 | €45,583 | -€46,415 | -50.5% |
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 16 October 2026 via checked.be.