BELLIAM: 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.
BELLIAM
Largest movements
- Cash +€10,327
up €10,327 (+70.4%), from €14,672 to €24,999
mainly Net result for the year (+€6,050) and Receivables within one year (+€5,427)
- Receivables within one year -€5,427
down €5,427 (-29.8%), from €18,238 to €12,811
of which Other amounts receivable: -€5,375
- Tangible fixed assets -€2,253
down €2,253 (-42.1%), from €5,345 to €3,092
- Reserves +€6,050
up €6,050 (+23.3%), from €25,934 to €31,984
- Tax, wage and social debts -€3,858
down €3,858 (-41.1%), from €9,390 to €5,532
- Other debts +€498
up €498 (+45.3%), from €1,100 to €1,598
- Gross operating margin -€11,976
down €11,976 (-45.4%), from €26,386 to €14,410
- Taxes -€2,635
down €2,635 (-46.8%), from €5,625 to €2,990
- Depreciation +€831
up €831 (+58.4%), from €1,422 to €2,253
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 | €38,747 | €41,413 | +€2,667 | +6.9% |
| Fixed assets | 21/28 | €5,345 | €3,092 | -€2,253 | -42.1% |
| Tangible fixed assets | 22/27 | €5,345 | €3,092 | -€2,253 | -42.1% |
| Furniture and vehicles | 24 | €5,345 | €3,092 | -€2,253 | -42.1% |
| Current assets | 29/58 | €33,401 | €38,321 | +€4,919 | +14.7% |
| Amounts receivable within one year | 40/41 | €18,238 | €12,811 | -€5,427 | -29.8% |
| Trade receivables | 40 | €12,863 | €12,811 | -€52 | -0.4% |
| Other amounts receivable | 41 | €5,375 | - | -€5,375 | |
| Cash at bank and in hand | 54/58 | €14,672 | €24,999 | +€10,327 | +70.4% |
| Deferred charges and accrued income | 490/1 | €492 | €511 | +€20 | +4.0% |
| Total equity and liabilities | 10/49 | €38,747 | €41,413 | +€2,667 | +6.9% |
| Equity | 10/15 | €27,434 | €33,484 | +€6,050 | +22.1% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Capital | 10 | €1,500 | €1,500 | = | 0.0% |
| Issued capital | 100 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €25,934 | €31,984 | +€6,050 | +23.3% |
| Distributable reserves | 133 | €25,934 | €31,984 | +€6,050 | +23.3% |
| Amounts payable | 17/49 | €11,312 | €7,929 | -€3,383 | -29.9% |
| Amounts payable within one year | 42/48 | €11,312 | €7,929 | -€3,383 | -29.9% |
| Trade debts | 44 | €823 | €799 | -€23 | -2.8% |
| Suppliers | 440/4 | €823 | €799 | -€23 | -2.8% |
| Taxes, remuneration and social security | 45 | €9,390 | €5,532 | -€3,858 | -41.1% |
| Taxes | 450/3 | €9,390 | €5,532 | -€3,858 | -41.1% |
| Other amounts payable | 47/48 | €1,100 | €1,598 | +€498 | +45.3% |
| Remuneration, social security and pensions | 62 | €2,250 | €2,052 | -€198 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,422 | €2,253 | +€831 | +58.4% |
| Other operating charges | 640/8 | €598 | €766 | +€168 | +28.1% |
| Gross operating margin | 9900 | €26,386 | €14,410 | -€11,976 | -45.4% |
| Operating profit (loss) | 9901 | €22,115 | €9,339 | -€12,776 | -57.8% |
| Financial charges | 65/66B | €83 | €300 | +€217 | +263% |
| Recurring financial charges | 65 | €83 | €300 | +€217 | +263% |
| Profit (loss) for the period before taxes | 9903 | €22,032 | €9,039 | -€12,993 | -59.0% |
| Income taxes | 67/77 | €5,625 | €2,990 | -€2,635 | -46.8% |
| Profit (loss) for the period | 9904 | €16,408 | €6,050 | -€10,358 | -63.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,408 | €6,050 | -€10,358 | -63.1% |
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 1 November 2026 via checked.be.