BELLICOPTER: 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.
BELLICOPTER
Largest movements
- Cash +€48,530
up €48,530 (+28.5%), from €170,276 to €218,807
mainly Net result for the year (+€26,265) and Other debts (+€13,084)
- Tangible fixed assets -€11,207
down €11,207 (-51.7%), from €21,664 to €10,456
of which Furniture and vehicles: -€9,654
- Reserves +€26,265
up €26,265 (+16.3%), from €161,132 to €187,397
- Other debts +€13,084
up €13,084 (+67.4%), from €19,424 to €32,508
- Gross operating margin -€9,322
down €9,322 (-14.7%), from €63,596 to €54,274
- Taxes -€2,504
down €2,504 (-14.3%), from €17,496 to €14,992
- Depreciation -€1,059
down €1,059 (-7.6%), from €13,907 to €12,849
- Financial income +€1,020
up €1,020, from €0 to €1,020
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 | €201,540 | €241,118 | +€39,578 | +19.6% |
| Fixed assets | 21/28 | €21,664 | €10,456 | -€11,207 | -51.7% |
| Tangible fixed assets | 22/27 | €21,664 | €10,456 | -€11,207 | -51.7% |
| Plant, machinery and equipment | 23 | €3,120 | €1,567 | -€1,553 | -49.8% |
| Furniture and vehicles | 24 | €18,544 | €8,890 | -€9,654 | -52.1% |
| Current assets | 29/58 | €179,876 | €230,661 | +€50,785 | +28.2% |
| Amounts receivable within one year | 40/41 | €7,902 | €10,045 | +€2,143 | +27.1% |
| Trade receivables | 40 | €7,902 | €10,036 | +€2,134 | +27.0% |
| Other amounts receivable | 41 | €0 | €8 | +€8 | |
| Cash at bank and in hand | 54/58 | €170,276 | €218,807 | +€48,530 | +28.5% |
| Deferred charges and accrued income | 490/1 | €1,698 | €1,810 | +€112 | +6.6% |
| Total equity and liabilities | 10/49 | €201,540 | €241,118 | +€39,578 | +19.6% |
| Equity | 10/15 | €173,532 | €199,797 | +€26,265 | +15.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €161,132 | €187,397 | +€26,265 | +16.3% |
| Distributable reserves | 133 | €161,132 | €187,397 | +€26,265 | +16.3% |
| Amounts payable | 17/49 | €28,008 | €41,321 | +€13,313 | +47.5% |
| Amounts payable within one year | 42/48 | €28,008 | €41,321 | +€13,313 | +47.5% |
| Trade debts | 44 | €486 | €955 | +€469 | +96.6% |
| Suppliers | 440/4 | €486 | €955 | +€469 | +96.6% |
| Taxes, remuneration and social security | 45 | €8,098 | €7,858 | -€240 | -3.0% |
| Taxes | 450/3 | €8,098 | €7,858 | -€240 | -3.0% |
| Other amounts payable | 47/48 | €19,424 | €32,508 | +€13,084 | +67.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,907 | €12,849 | -€1,059 | -7.6% |
| Other operating charges | 640/8 | €776 | €892 | +€115 | +14.9% |
| Gross operating margin | 9900 | €63,596 | €54,274 | -€9,322 | -14.7% |
| Operating profit (loss) | 9901 | €48,912 | €40,533 | -€8,379 | -17.1% |
| Financial income | 75/76B | €0 | €1,020 | +€1,020 | |
| Recurring financial income | 75 | €0 | €1,020 | +€1,020 | |
| Financial charges | 65/66B | €235 | €297 | +€62 | +26.4% |
| Recurring financial charges | 65 | €235 | €297 | +€62 | +26.4% |
| Profit (loss) for the period before taxes | 9903 | €48,677 | €41,257 | -€7,421 | -15.2% |
| Income taxes | 67/77 | €17,496 | €14,992 | -€2,504 | -14.3% |
| Profit (loss) for the period | 9904 | €31,182 | €26,265 | -€4,917 | -15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,182 | €26,265 | -€4,917 | -15.8% |
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 13 October 2026 via checked.be.