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
- Receivables within one year +€13,611
up €13,611 (+148%), from €9,205 to €22,816
- Tangible fixed assets -€10,712
down €10,712 (-15.2%), from €70,464 to €59,752
of which Other tangible fixed assets: -€9,583
- Cash -€1,948
down €1,948 (-39.7%), from €4,904 to €2,956
mainly Net result for the year (-€33,124) and Receivables within one year (-€13,611)
- Profit (loss) carried forward -€33,124
down €33,124, from €13,140 to -€19,985
- Other debts +€15,000
up €15,000, from €0 to €15,000
- Tax, wage and social debts +€6,908
up €6,908 (+39.3%), from €17,573 to €24,480
of which Remuneration and social security: +€12,898
- Trade debts +€6,275
up €6,275 (+132%), from €4,760 to €11,035
- Accrued charges and deferred income +€6,000
new in 2025: €6,000
- Staff costs +€28,093
up €28,093 (+66.8%), from €42,074 to €70,167
- Gross operating margin +€15,615
up €15,615 (+45.0%), from €34,704 to €50,319
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 | €85,472 | €86,530 | +€1,058 | +1.2% |
| Fixed assets | 21/28 | €70,464 | €59,752 | -€10,712 | -15.2% |
| Tangible fixed assets | 22/27 | €70,464 | €59,752 | -€10,712 | -15.2% |
| Plant, machinery and equipment | 23 | €711 | €1,355 | +€644 | +90.7% |
| Furniture and vehicles | 24 | €3,620 | €1,847 | -€1,773 | -49.0% |
| Other tangible fixed assets | 26 | €66,134 | €56,551 | -€9,583 | -14.5% |
| Current assets | 29/58 | €15,008 | €26,778 | +€11,770 | +78.4% |
| Amounts receivable within one year | 40/41 | €9,205 | €22,816 | +€13,611 | +148% |
| Trade receivables | 40 | €9,205 | €22,816 | +€13,611 | +148% |
| Cash at bank and in hand | 54/58 | €4,904 | €2,956 | -€1,948 | -39.7% |
| Deferred charges and accrued income | 490/1 | €899 | €1,006 | +€107 | +11.9% |
| Total equity and liabilities | 10/49 | €85,472 | €86,530 | +€1,058 | +1.2% |
| Equity | 10/15 | €63,140 | €30,015 | -€33,124 | -52.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,140 | -€19,985 | -€33,124 | |
| Amounts payable | 17/49 | €22,333 | €56,515 | +€34,182 | +153% |
| Amounts payable within one year | 42/48 | €22,333 | €50,515 | +€28,182 | +126% |
| Trade debts | 44 | €4,760 | €11,035 | +€6,275 | +132% |
| Suppliers | 440/4 | €4,760 | €11,035 | +€6,275 | +132% |
| Taxes, remuneration and social security | 45 | €17,573 | €24,480 | +€6,908 | +39.3% |
| Taxes | 450/3 | €15,319 | €9,329 | -€5,990 | -39.1% |
| Remuneration and social security | 454/9 | €2,253 | €15,151 | +€12,898 | +572% |
| Other amounts payable | 47/48 | €0 | €15,000 | +€15,000 | |
| Accrued charges and deferred income | 492/3 | - | €6,000 | +€6,000 | |
| Remuneration, social security and pensions | 62 | €42,074 | €70,167 | +€28,093 | +66.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,445 | €11,842 | +€397 | +3.5% |
| Other operating charges | 640/8 | €687 | €779 | +€92 | +13.4% |
| Gross operating margin | 9900 | €34,704 | €50,319 | +€15,615 | +45.0% |
| Operating profit (loss) | 9901 | -€19,503 | -€32,471 | -€12,968 | -66.5% |
| Financial income | 75/76B | €0 | €2 | +€2 | +5,767% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +5,767% |
| Financial charges | 65/66B | €623 | €481 | -€142 | -22.7% |
| Recurring financial charges | 65 | €623 | €481 | -€142 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | -€20,125 | -€32,950 | -€12,825 | -63.7% |
| Income taxes | 67/77 | €164 | €174 | +€11 | +6.4% |
| Profit (loss) for the period | 9904 | -€20,289 | -€33,124 | -€12,835 | -63.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,289 | -€33,124 | -€12,835 | -63.3% |
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 27 October 2026 via checked.be.