Bellefleur: 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.
Bellefleur
Largest movements
- Cash +€29,336
up €29,336 (+40.3%), from €72,768 to €102,104
mainly Net result for the year (+€29,451) and Depreciation (+€12,531)
- Receivables within one year -€11,365
down €11,365 (-97.2%), from €11,693 to €328
of which Trade receivables: -€9,365
- Tangible fixed assets +€4,431
up €4,431 (+9.2%), from €48,226 to €52,656
of which Other tangible fixed assets: +€11,102
- Reserves +€29,451
up €29,451 (+61.1%), from €48,186 to €77,636
- Debts after one year -€10,016
down €10,016 (-28.6%), from €35,052 to €25,036
- Other debts +€3,454
up €3,454 (+12.5%), from €27,579 to €31,033
- Trade debts -€2,581
down €2,581 (-68.9%), from €3,745 to €1,164
- Tax, wage and social debts +€1,890
up €1,890 (+28.7%), from €6,576 to €8,466
- Gross operating margin +€16,474
up €16,474 (+44.1%), from €37,360 to €53,834
- Depreciation +€5,672
up €5,672 (+82.7%), from €6,859 to €12,531
- Other operating charges -€2,731
down €2,731 (-57.5%), from €4,747 to €2,016
- Taxes +€2,406
up €2,406 (+42.4%), from €5,672 to €8,077
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 | €133,250 | €155,851 | +€22,601 | +17.0% |
| Fixed assets | 21/28 | €48,226 | €52,656 | +€4,431 | +9.2% |
| Tangible fixed assets | 22/27 | €48,226 | €52,656 | +€4,431 | +9.2% |
| Furniture and vehicles | 24 | €701 | €4,218 | +€3,517 | +501.5% |
| Leasing and similar rights | 25 | €44,317 | €34,128 | -€10,188 | -23.0% |
| Other tangible fixed assets | 26 | €3,208 | €14,310 | +€11,102 | +346.1% |
| Current assets | 29/58 | €85,024 | €103,195 | +€18,171 | +21.4% |
| Amounts receivable within one year | 40/41 | €11,693 | €328 | -€11,365 | -97.2% |
| Trade receivables | 40 | €9,365 | €0 | -€9,365 | -100.0% |
| Other amounts receivable | 41 | €2,328 | €328 | -€2,000 | -85.9% |
| Cash at bank and in hand | 54/58 | €72,768 | €102,104 | +€29,336 | +40.3% |
| Deferred charges and accrued income | 490/1 | €563 | €763 | +€200 | +35.5% |
| Total equity and liabilities | 10/49 | €133,250 | €155,851 | +€22,601 | +17.0% |
| Equity | 10/15 | €50,686 | €80,136 | +€29,451 | +58.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €48,186 | €77,636 | +€29,451 | +61.1% |
| Distributable reserves | 133 | €48,186 | €77,636 | +€29,451 | +61.1% |
| Amounts payable | 17/49 | €82,564 | €75,715 | -€6,849 | -8.3% |
| Amounts payable after more than one year | 17 | €35,052 | €25,036 | -€10,016 | -28.6% |
| Financial debts | 170/4 | €35,052 | €25,036 | -€10,016 | -28.6% |
| Amounts payable within one year | 42/48 | €47,512 | €50,679 | +€3,167 | +6.7% |
| Current portion of amounts payable after more than one year | 42 | €9,612 | €10,016 | +€404 | +4.2% |
| Trade debts | 44 | €3,745 | €1,164 | -€2,581 | -68.9% |
| Suppliers | 440/4 | €3,745 | €1,164 | -€2,581 | -68.9% |
| Taxes, remuneration and social security | 45 | €6,576 | €8,466 | +€1,890 | +28.7% |
| Taxes | 450/3 | €6,576 | €8,466 | +€1,890 | +28.7% |
| Other amounts payable | 47/48 | €27,579 | €31,033 | +€3,454 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,859 | €12,531 | +€5,672 | +82.7% |
| Other operating charges | 640/8 | €4,747 | €2,016 | -€2,731 | -57.5% |
| Gross operating margin | 9900 | €37,360 | €53,834 | +€16,474 | +44.1% |
| Operating profit (loss) | 9901 | €25,754 | €39,287 | +€13,533 | +52.5% |
| Financial charges | 65/66B | €1,729 | €1,759 | +€30 | +1.7% |
| Recurring financial charges | 65 | €1,729 | €1,759 | +€30 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €24,025 | €37,528 | +€13,503 | +56.2% |
| Income taxes | 67/77 | €5,672 | €8,077 | +€2,406 | +42.4% |
| Profit (loss) for the period | 9904 | €18,353 | €29,451 | +€11,097 | +60.5% |
| Profit (loss) for the period to be appropriated | 9905 | €18,353 | €29,451 | +€11,097 | +60.5% |
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.