Bellerive: 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.
Bellerive
Largest movements
- Cash +€196,935
up €196,935 (+35.7%), from €552,340 to €749,275
mainly Accrued charges and deferred income (+€151,479) and Debts within one year (+€112,739)
- Tangible fixed assets +€104,933
up €104,933 (+15.9%), from €659,318 to €764,251
of which Assets under construction and advance payments: +€96,997
- Accrued charges and deferred income +€151,479
up €151,479 (+76.0%), from €199,237 to €350,716
- Debts within one year +€112,739
up €112,739 (+30.7%), from €367,459 to €480,198
- Profit (loss) carried forward +€56,265
up €56,265 (+8.7%), from €643,161 to €699,426
- Gross operating margin +€59,401
up €59,401 (+2.9%), from €2.1m to €2.1m
- Purchases and services -€36,511
down €36,511 (-11.0%), from €332,707 to €296,196
- Staff costs +€24,494
up €24,494 (+1.4%), from €1.7m to €1.7m
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 | €1,410,680 | €1,724,459 | +€313,779 | +22.2% |
| Fixed assets | 21/28 | €659,318 | €764,251 | +€104,933 | +15.9% |
| Tangible fixed assets | 22/27 | €659,318 | €764,251 | +€104,933 | +15.9% |
| Land and buildings | 22 | €415,977 | €415,977 | +€0 | 0.0% |
| Plant, machinery and equipment | 23 | €31,105 | €35,330 | +€4,225 | +13.6% |
| Furniture and vehicles | 24 | €2,379 | €12,794 | +€10,415 | +438% |
| Leasing and similar rights | 25 | €13,408 | €6,704 | -€6,704 | -50.0% |
| Assets under construction and advance payments | 27 | €196,449 | €293,446 | +€96,997 | +49.4% |
| Current assets | 29/58 | €751,362 | €960,208 | +€208,846 | +27.8% |
| Amounts receivable within one year | 40/41 | €197,062 | €206,166 | +€9,104 | +4.6% |
| Trade receivables | 40 | €131,145 | €122,139 | -€9,006 | -6.9% |
| Other amounts receivable | 41 | €65,917 | €84,027 | +€18,110 | +27.5% |
| Cash at bank and in hand | 54/58 | €552,340 | €749,275 | +€196,935 | +35.7% |
| Deferred charges and accrued income | 490/1 | €1,960 | €4,767 | +€2,807 | +143% |
| Total equity and liabilities | 10/49 | €1,410,680 | €1,724,459 | +€313,779 | +22.2% |
| Equity | 10/15 | €831,825 | €888,089 | +€56,264 | +6.8% |
| Profit (loss) carried forward | 14 | €643,161 | €699,426 | +€56,265 | +8.7% |
| Investment grants | 15 | €188,664 | €188,664 | -€0 | 0.0% |
| Amounts payable | 17/49 | €578,855 | €836,369 | +€257,514 | +44.5% |
| Amounts payable after more than one year | 17 | €12,159 | €5,455 | -€6,704 | -55.1% |
| Financial debts | 170/4 | €7,821 | €1,117 | -€6,704 | -85.7% |
| Other amounts payable | 178/9 | €4,338 | €4,338 | +€0 | 0.0% |
| Amounts payable within one year | 42/48 | €367,459 | €480,198 | +€112,739 | +30.7% |
| Current portion of amounts payable after more than one year | 42 | €6,704 | €6,704 | +€0 | 0.0% |
| Trade debts | 44 | €17,203 | €25,566 | +€8,363 | +48.6% |
| Suppliers | 440/4 | €17,203 | €25,566 | +€8,363 | +48.6% |
| Taxes, remuneration and social security | 45 | €250,461 | €258,944 | +€8,483 | +3.4% |
| Taxes | 450/3 | €38,475 | €39,906 | +€1,431 | +3.7% |
| Remuneration and social security | 454/9 | €211,986 | €219,038 | +€7,052 | +3.3% |
| Accrued charges and deferred income | 492/3 | €199,237 | €350,716 | +€151,479 | +76.0% |
| Membership fees, donations, legacies and grants | 73 | - | €2,403,133 | +€2.4m | |
| Non-recurring operating income | 76A | €11,885 | €11,055 | -€830 | -7.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €332,707 | €296,196 | -€36,511 | -11.0% |
| Remuneration, social security and pensions | 62 | €1,691,609 | €1,716,103 | +€24,494 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,352 | €17,262 | -€10,090 | -36.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,000 | - | -€10,000 | |
| Other operating charges | 640/8 | €313,689 | €316,247 | +€2,558 | +0.8% |
| Gross operating margin | 9900 | €2,058,591 | €2,117,992 | +€59,401 | +2.9% |
| Operating profit (loss) | 9901 | €15,941 | €68,380 | +€52,439 | +329% |
| Financial income | 75/76B | €4,667 | €374 | -€4,293 | -92.0% |
| Recurring financial income | 75 | €4,667 | €374 | -€4,293 | -92.0% |
| Financial charges | 65/66B | €9,882 | €12,489 | +€2,607 | +26.4% |
| Recurring financial charges | 65 | €1,029 | €668 | -€361 | -35.1% |
| Non-recurring financial charges | 66B | €8,853 | €11,821 | +€2,968 | +33.5% |
| Profit (loss) for the period before taxes | 9903 | €10,726 | €56,265 | +€45,539 | +425% |
| Profit (loss) for the period | 9904 | €10,726 | €56,265 | +€45,539 | +425% |
| Profit (loss) for the period to be appropriated | 9905 | €10,726 | €56,265 | +€45,539 | +425% |
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 16 October 2026 via checked.be.