BELLFYSIO: what changed
Two fiscal 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.
BELLFYSIO
Largest movements
- Tangible fixed assets -€10,951
down €10,951 (-23.8%), from €46,043 to €35,092
of which Plant, machinery and equipment: -€6,682
- Cash -€3,249
down €3,249 (-62.2%), from €5,226 to €1,976
mainly Net result for the year (-€11,719) and Trade debts (-€8,146)
- Profit (loss) carried forward -€11,719
down €11,719 (-65.4%), from -€17,910 to -€29,629
- Other debts +€9,713
up €9,713 (+5222.4%), from €186 to €9,899
- Trade debts -€8,146
no longer reported in 2025 (was €8,146)
- Debts after one year -€3,073
down €3,073 (-7.0%), from €43,844 to €40,772
- Tax, wage and social debts -€735
down €735 (-91.7%), from €801 to €66
of which Remuneration and social security: -€666
- Financial charges -€3,055
down €3,055 (-56.6%), from €5,394 to €2,339
- Other operating charges +€2,498
new in 2025: €2,498
- Gross operating margin -€1,539
down €1,539, from €225 to -€1,314
- Depreciation -€731
down €731 (-11.7%), from €6,234 to €5,503
- Taxes -€346
down €346 (-83.9%), from €412 to €66
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.
Cash bridge derived
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 | €51,685 | €37,834 | -€13,851 | -26.8% |
| Fixed assets | 21/28 | €46,043 | €35,092 | -€10,951 | -23.8% |
| Tangible fixed assets | 22/27 | €46,043 | €35,092 | -€10,951 | -23.8% |
| Plant, machinery and equipment | 23 | €11,644 | €4,962 | -€6,682 | -57.4% |
| Other tangible fixed assets | 26 | €34,398 | €30,130 | -€4,269 | -12.4% |
| Current assets | 29/58 | €5,643 | €2,742 | -€2,900 | -51.4% |
| Amounts receivable within one year | 40/41 | €286 | €766 | +€481 | +168.3% |
| Trade receivables | 40 | €286 | €766 | +€481 | +168.3% |
| Cash at bank and in hand | 54/58 | €5,226 | €1,976 | -€3,249 | -62.2% |
| Deferred charges and accrued income | 490/1 | €131 | - | -€131 | |
| Total equity and liabilities | 10/49 | €51,685 | €37,834 | -€13,851 | -26.8% |
| Equity | 10/15 | -€6,410 | -€18,129 | -€11,719 | -182.8% |
| Contributions | 10/11 | €11,500 | €11,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,910 | -€29,629 | -€11,719 | -65.4% |
| Amounts payable | 17/49 | €58,095 | €55,963 | -€2,132 | -3.7% |
| Amounts payable after more than one year | 17 | €43,844 | €40,772 | -€3,073 | -7.0% |
| Financial debts | 170/4 | €43,844 | €40,772 | -€3,073 | -7.0% |
| Amounts payable within one year | 42/48 | €14,251 | €15,192 | +€941 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €5,117 | €5,226 | +€109 | +2.1% |
| Trade debts | 44 | €8,146 | - | -€8,146 | |
| Suppliers | 440/4 | €8,146 | - | -€8,146 | |
| Taxes, remuneration and social security | 45 | €801 | €66 | -€735 | -91.7% |
| Taxes | 450/3 | €135 | €66 | -€69 | -51.1% |
| Remuneration and social security | 454/9 | €666 | - | -€666 | |
| Other amounts payable | 47/48 | €186 | €9,899 | +€9,713 | +5222.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,234 | €5,503 | -€731 | -11.7% |
| Other operating charges | 640/8 | - | €2,498 | +€2,498 | |
| Gross operating margin | 9900 | €225 | -€1,314 | -€1,539 | |
| Operating profit (loss) | 9901 | -€6,009 | -€9,315 | -€3,306 | -55.0% |
| Financial charges | 65/66B | €5,394 | €2,339 | -€3,055 | -56.6% |
| Recurring financial charges | 65 | €5,394 | €2,339 | -€3,055 | -56.6% |
| Profit (loss) for the period before taxes | 9903 | -€11,402 | -€11,653 | -€251 | -2.2% |
| Income taxes | 67/77 | €412 | €66 | -€346 | -83.9% |
| Profit (loss) for the period | 9904 | -€11,815 | -€11,719 | +€95 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,815 | -€11,719 | +€95 | +0.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.