BELLEVARDE FINANCIAL: 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.
BELLEVARDE FINANCIAL
Largest movements
- Receivables after one year +€50,000
new in 2025: €50,000
- Receivables within one year +€20,200
up €20,200 (+14.4%), from €140,335 to €160,535
of which Trade receivables: +€42,584
- Cash +€18,880
up €18,880 (+273%), from €6,909 to €25,789
mainly Net result for the year (+€220,703) and Other debts (+€141,274)
- Tangible fixed assets -€8,960
down €8,960 (-6.9%), from €129,300 to €120,340
of which Furniture and vehicles: -€7,952
- Reserves -€306,156
down €306,156 (-87.8%), from €348,618 to €42,461
- Profit (loss) carried forward +€178,241
up €178,241, from -€178,241 to €0
- Other debts +€141,274
up €141,274 (+155%), from €91,350 to €232,624
- Tax, wage and social debts +€69,104
up €69,104 (+36,820%), from €188 to €69,292
- Financial income +€618,936
new in 2025: €618,936
of which Non-recurring financial income: +€616,955
- Financial charges +€215,813
up €215,813 (+53.8%), from €401,290 to €617,103
of which Non-recurring financial charges: +€578,673
- Taxes +€73,637
up €73,637 (+10,806%), from €681 to €74,319
- Gross operating margin +€51,867
up €51,867 (+19.5%), from €265,902 to €317,770
- Other operating charges +€4,534
up €4,534 (+277%), from €1,635 to €6,169
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 | €282,090 | €364,257 | +€82,167 | +29.1% |
| Fixed assets | 21/28 | €131,800 | €122,840 | -€8,960 | -6.8% |
| Tangible fixed assets | 22/27 | €129,300 | €120,340 | -€8,960 | -6.9% |
| Land and buildings | 22 | €100,829 | €102,681 | +€1,852 | +1.8% |
| Plant, machinery and equipment | 23 | €4,745 | €1,884 | -€2,861 | -60.3% |
| Furniture and vehicles | 24 | €23,727 | €15,775 | -€7,952 | -33.5% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €150,289 | €241,417 | +€91,127 | +60.6% |
| Amounts receivable after more than one year | 29 | - | €50,000 | +€50,000 | |
| Other amounts receivable | 291 | - | €50,000 | +€50,000 | |
| Amounts receivable within one year | 40/41 | €140,335 | €160,535 | +€20,200 | +14.4% |
| Trade receivables | 40 | €65,371 | €107,955 | +€42,584 | +65.1% |
| Other amounts receivable | 41 | €74,964 | €52,580 | -€22,384 | -29.9% |
| Cash at bank and in hand | 54/58 | €6,909 | €25,789 | +€18,880 | +273% |
| Deferred charges and accrued income | 490/1 | €3,046 | €5,093 | +€2,047 | +67.2% |
| Total equity and liabilities | 10/49 | €282,090 | €364,257 | +€82,167 | +29.1% |
| Equity | 10/15 | €188,976 | €61,061 | -€127,915 | -67.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €348,618 | €42,461 | -€306,156 | -87.8% |
| Distributable reserves | 133 | €348,618 | €42,461 | -€306,156 | -87.8% |
| Profit (loss) carried forward | 14 | -€178,241 | €0 | +€178,241 | |
| Amounts payable | 17/49 | €93,114 | €303,196 | +€210,082 | +226% |
| Amounts payable within one year | 42/48 | €93,114 | €303,196 | +€210,082 | +226% |
| Trade debts | 44 | €1,576 | €1,280 | -€296 | -18.8% |
| Suppliers | 440/4 | €1,576 | €1,280 | -€296 | -18.8% |
| Taxes, remuneration and social security | 45 | €188 | €69,292 | +€69,104 | +36,820% |
| Taxes | 450/3 | €188 | €69,292 | +€69,104 | +36,820% |
| Other amounts payable | 47/48 | €91,350 | €232,624 | +€141,274 | +155% |
| Non-recurring operating income | 76A | €3,928 | €16,918 | +€12,990 | +331% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,299 | €18,411 | +€113 | +0.6% |
| Other operating charges | 640/8 | €1,635 | €6,169 | +€4,534 | +277% |
| Gross operating margin | 9900 | €265,902 | €317,770 | +€51,867 | +19.5% |
| Operating profit (loss) | 9901 | €245,969 | €293,189 | +€47,221 | +19.2% |
| Financial income | 75/76B | - | €618,936 | +€618,936 | |
| Recurring financial income | 75 | - | €1,981 | +€1,981 | |
| Non-recurring financial income | 76B | - | €616,955 | +€616,955 | |
| Financial charges | 65/66B | €401,290 | €617,103 | +€215,813 | +53.8% |
| Recurring financial charges | 65 | €363,010 | €150 | -€362,860 | -100.0% |
| Non-recurring financial charges | 66B | €38,280 | €616,953 | +€578,673 | +1,512% |
| Profit (loss) for the period before taxes | 9903 | -€155,321 | €295,021 | +€450,343 | |
| Income taxes | 67/77 | €681 | €74,319 | +€73,637 | +10,806% |
| Profit (loss) for the period | 9904 | -€156,003 | €220,703 | +€376,705 | |
| Profit (loss) for the period to be appropriated | 9905 | -€156,003 | €220,703 | +€376,705 |
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.