Bellemans Stables: 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.
Bellemans Stables
Largest movements
- Tangible fixed assets -€10,333
down €10,333 (-33.8%), from €30,572 to €20,239
of which Furniture and vehicles: -€6,900
- Stocks and contracts -€6,500
down €6,500 (-6.3%), from €102,500 to €96,000
- Profit (loss) carried forward -€28,368
down €28,368 (-31.1%), from -€91,162 to -€119,530
- Other debts +€22,278
up €22,278 (+10.6%), from €210,095 to €232,373
- Trade debts -€9,740
down €9,740 (-89.0%), from €10,945 to €1,205
- Other operating charges -€6,218
down €6,218 (-88.2%), from €7,052 to €833
- Gross operating margin -€5,278
down €5,278 (-45.0%), from -€11,719 to -€16,996
- Depreciation -€4,858
down €4,858 (-32.0%), from €15,191 to €10,333
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 | €135,094 | €119,047 | -€16,047 | -11.9% |
| Fixed assets | 21/28 | €30,572 | €20,239 | -€10,333 | -33.8% |
| Tangible fixed assets | 22/27 | €30,572 | €20,239 | -€10,333 | -33.8% |
| Plant, machinery and equipment | 23 | €11,022 | €7,589 | -€3,433 | -31.1% |
| Furniture and vehicles | 24 | €19,550 | €12,650 | -€6,900 | -35.3% |
| Current assets | 29/58 | €104,522 | €98,808 | -€5,714 | -5.5% |
| Stocks and contracts in progress | 3 | €102,500 | €96,000 | -€6,500 | -6.3% |
| Stocks | 30/36 | €102,500 | €96,000 | -€6,500 | -6.3% |
| Amounts receivable within one year | 40/41 | €0 | €956 | +€956 | |
| Other amounts receivable | 41 | €0 | €956 | +€956 | |
| Cash at bank and in hand | 54/58 | €1,431 | €1,237 | -€194 | -13.5% |
| Deferred charges and accrued income | 490/1 | €591 | €614 | +€23 | +3.9% |
| Total equity and liabilities | 10/49 | €135,094 | €119,047 | -€16,047 | -11.9% |
| Equity | 10/15 | -€86,162 | -€114,530 | -€28,368 | -32.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€91,162 | -€119,530 | -€28,368 | -31.1% |
| Amounts payable | 17/49 | €221,257 | €233,577 | +€12,321 | +5.6% |
| Amounts payable within one year | 42/48 | €221,257 | €233,577 | +€12,321 | +5.6% |
| Trade debts | 44 | €10,945 | €1,205 | -€9,740 | -89.0% |
| Suppliers | 440/4 | €10,945 | €1,205 | -€9,740 | -89.0% |
| Taxes, remuneration and social security | 45 | €217 | €0 | -€217 | -100% |
| Taxes | 450/3 | €217 | €0 | -€217 | -100% |
| Other amounts payable | 47/48 | €210,095 | €232,373 | +€22,278 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,191 | €10,333 | -€4,858 | -32.0% |
| Other operating charges | 640/8 | €7,052 | €833 | -€6,218 | -88.2% |
| Gross operating margin | 9900 | -€11,719 | -€16,996 | -€5,278 | -45.0% |
| Operating profit (loss) | 9901 | -€33,962 | -€28,163 | +€5,799 | +17.1% |
| Financial charges | 65/66B | €191 | €205 | +€14 | +7.4% |
| Recurring financial charges | 65 | €191 | €205 | +€14 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | -€34,153 | -€28,368 | +€5,785 | +16.9% |
| Profit (loss) for the period | 9904 | -€34,153 | -€28,368 | +€5,785 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,153 | -€28,368 | +€5,785 | +16.9% |
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 17 October 2026 via checked.be.