BELLEFARMA: 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.
BELLEFARMA
Largest movements
- Current investments +€147,941
up €147,941 (+60.5%), from €244,491 to €392,432
- Cash +€40,709
up €40,709 (+5.4%), from €752,488 to €793,197
mainly Net result for the year (+€179,129) and Other debts (+€17,073)
- Reserves +€179,129
up €179,129 (+11.1%), from €1.6m to €1.8m
- Gross operating margin -€123,435
down €123,435 (-52.2%), from €236,391 to €112,957
- Financial income +€113,628
up €113,628 (+1224.4%), from €9,280 to €122,908
- Taxes -€27,809
down €27,809 (-41.2%), from €67,452 to €39,643
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 | €1,861,656 | €2,053,904 | +€192,248 | +10.3% |
| Fixed assets | 21/28 | €608,123 | €608,123 | = | 0.0% |
| Financial fixed assets | 28 | €608,123 | €608,123 | = | 0.0% |
| Current assets | 29/58 | €1,253,533 | €1,445,781 | +€192,248 | +15.3% |
| Amounts receivable within one year | 40/41 | €252,390 | €256,094 | +€3,704 | +1.5% |
| Trade receivables | 40 | €3 | €0 | -€3 | -100.0% |
| Other amounts receivable | 41 | €252,387 | €256,094 | +€3,707 | +1.5% |
| Current investments | 50/53 | €244,491 | €392,432 | +€147,941 | +60.5% |
| Cash at bank and in hand | 54/58 | €752,488 | €793,197 | +€40,709 | +5.4% |
| Deferred charges and accrued income | 490/1 | €4,164 | €4,058 | -€106 | -2.5% |
| Total equity and liabilities | 10/49 | €1,861,656 | €2,053,904 | +€192,248 | +10.3% |
| Equity | 10/15 | €1,618,134 | €1,797,263 | +€179,129 | +11.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,611,934 | €1,791,063 | +€179,129 | +11.1% |
| Distributable reserves | 133 | €1,611,934 | €1,791,063 | +€179,129 | +11.1% |
| Amounts payable | 17/49 | €243,522 | €256,641 | +€13,119 | +5.4% |
| Amounts payable within one year | 42/48 | €241,513 | €254,504 | +€12,992 | +5.4% |
| Trade debts | 44 | €80 | €1,711 | +€1,631 | +2032.2% |
| Suppliers | 440/4 | €80 | €1,711 | +€1,631 | +2032.2% |
| Taxes, remuneration and social security | 45 | €12,757 | €7,045 | -€5,712 | -44.8% |
| Taxes | 450/3 | €12,757 | €7,045 | -€5,712 | -44.8% |
| Other amounts payable | 47/48 | €228,675 | €245,748 | +€17,073 | +7.5% |
| Accrued charges and deferred income | 492/3 | €2,010 | €2,137 | +€127 | +6.3% |
| Other operating charges | 640/8 | €1,494 | €1,496 | +€1 | +0.1% |
| Gross operating margin | 9900 | €236,391 | €112,957 | -€123,435 | -52.2% |
| Operating profit (loss) | 9901 | €234,897 | €111,461 | -€123,436 | -52.5% |
| Financial income | 75/76B | €9,280 | €122,908 | +€113,628 | +1224.4% |
| Recurring financial income | 75 | €9,280 | €122,908 | +€113,628 | +1224.4% |
| Financial charges | 65/66B | €17,258 | €15,597 | -€1,661 | -9.6% |
| Recurring financial charges | 65 | €17,258 | €15,597 | -€1,661 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €226,919 | €218,772 | -€8,147 | -3.6% |
| Income taxes | 67/77 | €67,452 | €39,643 | -€27,809 | -41.2% |
| Profit (loss) for the period | 9904 | €159,467 | €179,129 | +€19,662 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €159,467 | €179,129 | +€19,662 | +12.3% |
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 7 October 2026 via checked.be.