BELLIKON: 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.
BELLIKON
Largest movements
- Tangible fixed assets +€36,609
up €36,609 (+23.9%), from €153,430 to €190,039
of which Land and buildings: +€44,097
- Current investments -€25,997
down €25,997 (-97.0%), from €26,793 to €796
- Cash -€10,992
down €10,992 (-65.5%), from €16,790 to €5,798
mainly Investment in fixed assets (net) (-€55,057) and Net result for the year (-€14,087)
- Receivables within one year -€9,578
down €9,578 (-60.5%), from €15,841 to €6,263
of which Other amounts receivable: -€8,517
- Profit (loss) carried forward -€14,087
down €14,087 (-81.3%), from -€17,333 to -€31,420
- Other debts +€2,310
new in 2025: €2,310
- Gross operating margin -€11,153
down €11,153 (-70.8%), from €15,763 to €4,610
- Financial income -€8,472
down €8,472 (-93.5%), from €9,066 to €593
- Financial charges -€7,073
down €7,073 (-973%), from -€727 to -€7,800
- Depreciation +€5,478
up €5,478 (+42.2%), from €12,970 to €18,448
- Other operating charges +€442
up €442 (+19.2%), from €2,305 to €2,747
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 | €223,202 | €213,569 | -€9,633 | -4.3% |
| Fixed assets | 21/28 | €162,430 | €199,039 | +€36,609 | +22.5% |
| Tangible fixed assets | 22/27 | €153,430 | €190,039 | +€36,609 | +23.9% |
| Land and buildings | 22 | €117,871 | €161,968 | +€44,097 | +37.4% |
| Furniture and vehicles | 24 | €35,560 | €28,071 | -€7,488 | -21.1% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €60,772 | €14,530 | -€46,242 | -76.1% |
| Amounts receivable within one year | 40/41 | €15,841 | €6,263 | -€9,578 | -60.5% |
| Trade receivables | 40 | €1,333 | €272 | -€1,061 | -79.6% |
| Other amounts receivable | 41 | €14,508 | €5,991 | -€8,517 | -58.7% |
| Current investments | 50/53 | €26,793 | €796 | -€25,997 | -97.0% |
| Cash at bank and in hand | 54/58 | €16,790 | €5,798 | -€10,992 | -65.5% |
| Deferred charges and accrued income | 490/1 | €1,347 | €1,673 | +€326 | +24.2% |
| Total equity and liabilities | 10/49 | €223,202 | €213,569 | -€9,633 | -4.3% |
| Equity | 10/15 | €222,402 | €208,314 | -€14,087 | -6.3% |
| Contributions | 10/11 | €123,950 | €123,950 | = | 0.0% |
| Capital | 10 | €123,950 | €123,950 | = | 0.0% |
| Issued capital | 100 | €123,950 | €123,950 | = | 0.0% |
| Reserves | 13 | €115,785 | €115,785 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Distributable reserves | 133 | €103,390 | €103,390 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,333 | -€31,420 | -€14,087 | -81.3% |
| Amounts payable | 17/49 | €801 | €5,255 | +€4,455 | +556% |
| Amounts payable within one year | 42/48 | €801 | €5,255 | +€4,455 | +556% |
| Trade debts | 44 | €686 | €2,644 | +€1,959 | +286% |
| Suppliers | 440/4 | €686 | €2,644 | +€1,959 | +286% |
| Taxes, remuneration and social security | 45 | €115 | €300 | +€185 | +161% |
| Taxes | 450/3 | €115 | €300 | +€185 | +161% |
| Other amounts payable | 47/48 | - | €2,310 | +€2,310 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,970 | €18,448 | +€5,478 | +42.2% |
| Other operating charges | 640/8 | €2,305 | €2,747 | +€442 | +19.2% |
| Non-recurring operating charges | 66A | - | €5,696 | +€5,696 | |
| Gross operating margin | 9900 | €15,763 | €4,610 | -€11,153 | -70.8% |
| Operating profit (loss) | 9901 | €489 | -€22,281 | -€22,770 | |
| Financial income | 75/76B | €9,066 | €593 | -€8,472 | -93.5% |
| Recurring financial income | 75 | €9,066 | €593 | -€8,472 | -93.5% |
| Financial charges | 65/66B | -€727 | -€7,800 | -€7,073 | -973% |
| Recurring financial charges | 65 | -€727 | -€7,800 | -€7,073 | -973% |
| Profit (loss) for the period before taxes | 9903 | €10,282 | -€13,887 | -€24,169 | |
| Income taxes | 67/77 | €33 | €200 | +€168 | +512% |
| Profit (loss) for the period | 9904 | €10,249 | -€14,087 | -€24,336 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,249 | -€14,087 | -€24,336 |
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 14 October 2026 via checked.be.