Bellefleur: 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.
Bellefleur
Largest movements
- Financial fixed assets +€158,780
up €158,780 (+190.8%), from €83,235 to €242,015
- Tangible fixed assets +€80,042
up €80,042 (+48.5%), from €165,183 to €245,225
of which Plant, machinery and equipment: +€79,856
- Cash -€67,660
down €67,660 (-46.5%), from €145,556 to €77,896
mainly Investment in fixed assets (net) (-€297,234) and Tax, wage and social debts (-€78,892)
- Deferred charges and accrued income +€61,090
up €61,090 (+56.7%), from €107,657 to €168,748
- Trade debts +€315,920
up €315,920 (+235.7%), from €134,043 to €449,964
- Tax, wage and social debts -€78,892
down €78,892 (-16.3%), from €483,954 to €405,062
of which Remuneration and social security: -€54,706
- Profit (loss) carried forward +€57,809
up €57,809, from -€57,809 to €0
- Reserves -€56,555
down €56,555 (-21.9%), from €258,109 to €201,554
of which Distributable reserves: -€56,555
- Staff costs +€202,326
up €202,326 (+6.8%), from €3.0m to €3.2m
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 | €838,619 | €1,075,162 | +€236,543 | +28.2% |
| Fixed assets | 21/28 | €249,616 | €487,639 | +€238,023 | +95.4% |
| Intangible fixed assets | 21 | €1,199 | €400 | -€799 | -66.7% |
| Tangible fixed assets | 22/27 | €165,183 | €245,225 | +€80,042 | +48.5% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €133,261 | €213,116 | +€79,856 | +59.9% |
| Furniture and vehicles | 24 | €31,922 | €32,109 | +€186 | +0.6% |
| Financial fixed assets | 28 | €83,235 | €242,015 | +€158,780 | +190.8% |
| Current assets | 29/58 | €589,003 | €587,523 | -€1,480 | -0.3% |
| Stocks and contracts in progress | 3 | - | €9,787 | +€9,787 | |
| Stocks | 30/36 | - | €9,787 | +€9,787 | |
| Amounts receivable within one year | 40/41 | €335,789 | €331,092 | -€4,697 | -1.4% |
| Trade receivables | 40 | €330,417 | €301,138 | -€29,278 | -8.9% |
| Other amounts receivable | 41 | €5,373 | €29,954 | +€24,581 | +457.5% |
| Cash at bank and in hand | 54/58 | €145,556 | €77,896 | -€67,660 | -46.5% |
| Deferred charges and accrued income | 490/1 | €107,657 | €168,748 | +€61,090 | +56.7% |
| Total equity and liabilities | 10/49 | €838,619 | €1,075,162 | +€236,543 | +28.2% |
| Equity | 10/15 | €218,883 | €220,136 | +€1,254 | +0.6% |
| Contributions | 10/11 | €18,582 | €18,582 | = | 0.0% |
| Reserves | 13 | €258,109 | €201,554 | -€56,555 | -21.9% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €200,000 | €143,445 | -€56,555 | -28.3% |
| Profit (loss) carried forward | 14 | -€57,809 | €0 | +€57,809 | |
| Amounts payable | 17/49 | €619,737 | €855,026 | +€235,289 | +38.0% |
| Amounts payable within one year | 42/48 | €619,737 | €855,026 | +€235,289 | +38.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €134,043 | €449,964 | +€315,920 | +235.7% |
| Suppliers | 440/4 | €134,043 | €449,964 | +€315,920 | +235.7% |
| Taxes, remuneration and social security | 45 | €483,954 | €405,062 | -€78,892 | -16.3% |
| Taxes | 450/3 | €43,200 | €19,014 | -€24,186 | -56.0% |
| Remuneration and social security | 454/9 | €440,754 | €386,048 | -€54,706 | -12.4% |
| Other amounts payable | 47/48 | €1,739 | €0 | -€1,739 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €8,590 | €0 | -€8,590 | -100.0% |
| Remuneration, social security and pensions | 62 | €2,967,420 | €3,169,745 | +€202,326 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,455 | €59,211 | +€6,756 | +12.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €16,910 | -€7,711 | -€24,621 | |
| Other operating charges | 640/8 | €28,853 | €32,028 | +€3,174 | +11.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €3,220,320 | €3,238,763 | +€18,443 | +0.6% |
| Operating profit (loss) | 9901 | €154,682 | -€14,510 | -€169,192 | |
| Financial income | 75/76B | €6,453 | €19,374 | +€12,921 | +200.2% |
| Recurring financial income | 75 | €6,453 | €19,374 | +€12,921 | +200.2% |
| Financial charges | 65/66B | €5,456 | €3,611 | -€1,845 | -33.8% |
| Recurring financial charges | 65 | €5,456 | €3,611 | -€1,845 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €155,679 | €1,254 | -€154,426 | -99.2% |
| Income taxes | 67/77 | €160 | €0 | -€160 | -100.0% |
| Profit (loss) for the period | 9904 | €155,519 | €1,254 | -€154,265 | -99.2% |
| Profit (loss) for the period to be appropriated | 9905 | €155,519 | €1,254 | -€154,265 | -99.2% |
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 9 October 2026 via checked.be.