BELLENS BEHEER: what changed
BELLENS BEHEER
Largest movements
- Current investments -€792,220
down €792,220 (-78.5%), from €1.0m to €217,577
- Receivables within one year -€134,993
down €134,993 (-41.2%), from €327,944 to €192,951
of which Trade receivables: -€184,800
- Tangible fixed assets +€88,883
up €88,883 (+13.1%), from €680,780 to €769,663
of which Furniture and vehicles: +€108,336
- Cash -€51,350
down €51,350 (-43.2%), from €118,957 to €67,607
mainly Provisions (-€868,940) and Investment in fixed assets (net) (-€140,308)
- Provisions -€868,940
no longer reported in 2025 (was €868,940)
- Reserves +€72,700
up €72,700 (+4.2%), from €1.7m to €1.8m
- Accrued charges and deferred income -€47,123
down €47,123 (-94.4%), from €49,894 to €2,771
- Financial charges +€236,684
up €236,684 (+272%), from €87,083 to €323,768
- Financial income +€158,040
up €158,040 (+1,319%), from €11,980 to €170,020
- Gross operating margin -€99,381
down €99,381 (-25.8%), from €384,537 to €285,156
- Taxes -€75,496
down €75,496 (-89.7%), from €84,133 to €8,637
- Depreciation +€11,972
up €11,972 (+61.5%), from €19,453 to €31,425
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,194,806 | €2,326,802 | -€868,003 | -27.2% |
| Fixed assets | 21/28 | €1,725,780 | €1,834,663 | +€108,883 | +6.3% |
| Tangible fixed assets | 22/27 | €680,780 | €769,663 | +€88,883 | +13.1% |
| Land and buildings | 22 | €230,780 | €211,327 | -€19,453 | -8.4% |
| Furniture and vehicles | 24 | - | €108,336 | +€108,336 | |
| Other tangible fixed assets | 26 | €450,000 | €450,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,045,000 | €1,065,000 | +€20,000 | +1.9% |
| Current assets | 29/58 | €1,469,026 | €492,140 | -€976,886 | -66.5% |
| Amounts receivable within one year | 40/41 | €327,944 | €192,951 | -€134,993 | -41.2% |
| Trade receivables | 40 | €293,695 | €108,894 | -€184,800 | -62.9% |
| Other amounts receivable | 41 | €34,250 | €84,057 | +€49,807 | +145% |
| Current investments | 50/53 | €1,009,798 | €217,577 | -€792,220 | -78.5% |
| Cash at bank and in hand | 54/58 | €118,957 | €67,607 | -€51,350 | -43.2% |
| Deferred charges and accrued income | 490/1 | €12,327 | €14,005 | +€1,678 | +13.6% |
| Total equity and liabilities | 10/49 | €3,194,806 | €2,326,802 | -€868,003 | -27.2% |
| Equity | 10/15 | €2,218,842 | €2,291,639 | +€72,797 | +3.3% |
| Contributions | 10/11 | €468,600 | €468,600 | = | 0.0% |
| Reserves | 13 | €1,748,616 | €1,821,316 | +€72,700 | +4.2% |
| Distributable reserves | 133 | €1,748,616 | €1,821,316 | +€72,700 | +4.2% |
| Profit (loss) carried forward | 14 | €1,626 | €1,723 | +€97 | +6.0% |
| Provisions and deferred taxes | 16 | €868,940 | - | -€868,940 | |
| Provisions for liabilities and charges | 160/5 | €868,940 | - | -€868,940 | |
| Other liabilities and charges | 164/5 | €868,940 | - | -€868,940 | |
| Amounts payable | 17/49 | €107,024 | €35,164 | -€71,860 | -67.1% |
| Amounts payable within one year | 42/48 | €57,130 | €32,393 | -€24,737 | -43.3% |
| Trade debts | 44 | €12,849 | €20,717 | +€7,868 | +61.2% |
| Suppliers | 440/4 | €12,849 | €20,717 | +€7,868 | +61.2% |
| Taxes, remuneration and social security | 45 | €39,390 | €9,220 | -€30,170 | -76.6% |
| Taxes | 450/3 | €39,390 | €9,220 | -€30,170 | -76.6% |
| Other amounts payable | 47/48 | €4,891 | €2,456 | -€2,435 | -49.8% |
| Accrued charges and deferred income | 492/3 | €49,894 | €2,771 | -€47,123 | -94.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,453 | €31,425 | +€11,972 | +61.5% |
| Other operating charges | 640/8 | €9,965 | €18,549 | +€8,584 | +86.1% |
| Gross operating margin | 9900 | €384,537 | €285,156 | -€99,381 | -25.8% |
| Operating profit (loss) | 9901 | €355,118 | €235,182 | -€119,937 | -33.8% |
| Financial income | 75/76B | €11,980 | €170,020 | +€158,040 | +1,319% |
| Recurring financial income | 75 | €11,980 | €170,020 | +€158,040 | +1,319% |
| Financial charges | 65/66B | €87,083 | €323,768 | +€236,684 | +272% |
| Recurring financial charges | 65 | €87,083 | €323,768 | +€236,684 | +272% |
| Profit (loss) for the period before taxes | 9903 | €280,016 | €81,434 | -€198,582 | -70.9% |
| Income taxes | 67/77 | €84,133 | €8,637 | -€75,496 | -89.7% |
| Profit (loss) for the period | 9904 | €195,882 | €72,797 | -€123,085 | -62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €195,882 | €72,797 | -€123,085 | -62.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.