BELLIA: 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.
What changed
BELLIA
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€184,785
2024 · €239,667-€54,882
Equity
€824,589
2024 · €679,811+€144,778
Cash
€0
2024 · €1,736-€1,736
Balance sheet total
€2.1m
2024 · €2.1m+€39,130
Largest movements
Assets
- Tangible fixed assets +€28,546
up €28,546 (+103.1%), from €27,701 to €56,247
of which Furniture and vehicles: +€26,901
Equity and liabilities
- Debts after one year -€211,818
down €211,818 (-25.7%), from €824,015 to €612,197
- Profit (loss) carried forward +€144,778
up €144,778 (+31.5%), from €459,811 to €604,589
- Other debts +€85,797
up €85,797 (+45.6%), from €188,207 to €274,004
Income statement
- Gross operating margin -€53,390
down €53,390 (-18.2%), from €293,457 to €240,067
- Taxes -€11,963
down €11,963 (-21.0%), from €56,957 to €44,994
- Depreciation +€3,910
up €3,910 (+48.8%), from €8,018 to €11,928
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.
Result 2024
€239,667
Gross operating margin
-€53,390
Depreciation
-€3,910
Other operating charges
+€471
Other operating items
-€13,728
Financial income
+€1,537
Financial charges
+€2,175
Taxes
+€11,963
Result 2025
€184,785
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.
From operations
+€269,878
Investment
-€40,474
Financing
-€231,140
Cash 2024
€1,736
From operations (derived)
+€269,878
Net result for the year
+€184,785
Depreciation
+€11,928
Receivables within one year
-€9,910
Deferred charges and accrued income
-€2,410
Trade debts
+€7,033
Tax, wage and social debts
-€3,150
Other debts
+€85,797
Accrued charges and deferred income
-€4,195
Investment (derived)
-€40,474
Investment in fixed assets (net)
-€40,474
Financing
-€231,140
Debts after one year
-€211,818
Current portion of long-term debt
+€20,685
Contributions, distributions and other
-€40,007
Cash 2025
€0
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,088,920 | €2,128,050 | +€39,130 | +1.9% |
| Fixed assets | 21/28 | €2,027,819 | €2,056,365 | +€28,546 | +1.4% |
| Tangible fixed assets | 22/27 | €27,701 | €56,247 | +€28,546 | +103.1% |
| Plant, machinery and equipment | 23 | - | €1,645 | +€1,645 | |
| Furniture and vehicles | 24 | €27,701 | €54,602 | +€26,901 | +97.1% |
| Financial fixed assets | 28 | €2,000,118 | €2,000,118 | = | 0.0% |
| Current assets | 29/58 | €61,101 | €71,685 | +€10,584 | +17.3% |
| Amounts receivable within one year | 40/41 | €56,503 | €66,413 | +€9,910 | +17.5% |
| Trade receivables | 40 | €2,012 | - | -€2,012 | |
| Other amounts receivable | 41 | €54,491 | €66,413 | +€11,922 | +21.9% |
| Cash at bank and in hand | 54/58 | €1,736 | €0 | -€1,736 | -100.0% |
| Deferred charges and accrued income | 490/1 | €2,862 | €5,272 | +€2,410 | +84.2% |
| Total equity and liabilities | 10/49 | €2,088,920 | €2,128,050 | +€39,130 | +1.9% |
| Equity | 10/15 | €679,811 | €824,589 | +€144,778 | +21.3% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €459,811 | €604,589 | +€144,778 | +31.5% |
| Amounts payable | 17/49 | €1,409,109 | €1,303,461 | -€105,648 | -7.5% |
| Amounts payable after more than one year | 17 | €824,015 | €612,197 | -€211,818 | -25.7% |
| Financial debts | 170/4 | €824,015 | €612,197 | -€211,818 | -25.7% |
| Amounts payable within one year | 42/48 | €575,189 | €685,553 | +€110,365 | +19.2% |
| Current portion of amounts payable after more than one year | 42 | €242,667 | €263,352 | +€20,685 | +8.5% |
| Trade debts | 44 | €63,563 | €70,596 | +€7,033 | +11.1% |
| Suppliers | 440/4 | €63,563 | €70,596 | +€7,033 | +11.1% |
| Taxes, remuneration and social security | 45 | €80,752 | €77,602 | -€3,150 | -3.9% |
| Taxes | 450/3 | €77,875 | €69,697 | -€8,179 | -10.5% |
| Remuneration and social security | 454/9 | €2,876 | €7,905 | +€5,028 | +174.8% |
| Other amounts payable | 47/48 | €188,207 | €274,004 | +€85,797 | +45.6% |
| Accrued charges and deferred income | 492/3 | €9,905 | €5,711 | -€4,195 | -42.3% |
| Non-recurring operating income | 76A | €1,182 | - | -€1,182 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,018 | €11,928 | +€3,910 | +48.8% |
| Other operating charges | 640/8 | €639 | €168 | -€471 | -73.7% |
| Non-recurring operating charges | 66A | - | €13,728 | +€13,728 | |
| Gross operating margin | 9900 | €293,457 | €240,067 | -€53,390 | -18.2% |
| Operating profit (loss) | 9901 | €284,800 | €214,243 | -€70,557 | -24.8% |
| Financial income | 75/76B | €51,792 | €53,328 | +€1,537 | +3.0% |
| Recurring financial income | 75 | €51,792 | €53,328 | +€1,537 | +3.0% |
| Financial charges | 65/66B | €39,968 | €37,793 | -€2,175 | -5.4% |
| Recurring financial charges | 65 | €39,968 | €35,545 | -€4,423 | -11.1% |
| Non-recurring financial charges | 66B | - | €2,247 | +€2,247 | |
| Profit (loss) for the period before taxes | 9903 | €296,624 | €229,779 | -€66,845 | -22.5% |
| Income taxes | 67/77 | €56,957 | €44,994 | -€11,963 | -21.0% |
| Profit (loss) for the period | 9904 | €239,667 | €184,785 | -€54,882 | -22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €239,667 | €184,785 | -€54,882 | -22.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.