BELLIM: 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.
BELLIM
Largest movements
- Tangible fixed assets -€57,820
down €57,820 (-4.1%), from €1.4m to €1.4m
- Receivables within one year +€26,139
up €26,139 (+74.9%), from €34,897 to €61,036
of which Other amounts receivable: +€25,475
- Debts after one year -€37,148
down €37,148 (-5.2%), from €720,792 to €683,644
of which Financial debts: -€31,648
- Financial charges -€17,271
down €17,271 (-41.1%), from €42,013 to €24,742
- Gross operating margin +€14,191
up €14,191 (+14.8%), from €96,130 to €110,322
- Depreciation +€12,519
up €12,519 (+27.6%), from €45,300 to €57,820
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 | €1,911,381 | €1,890,035 | -€21,346 | -1.1% |
| Fixed assets | 21/28 | €1,875,408 | €1,817,588 | -€57,820 | -3.1% |
| Tangible fixed assets | 22/27 | €1,418,548 | €1,360,728 | -€57,820 | -4.1% |
| Land and buildings | 22 | €1,418,548 | €1,360,728 | -€57,820 | -4.1% |
| Financial fixed assets | 28 | €456,860 | €456,860 | = | 0.0% |
| Current assets | 29/58 | €35,973 | €72,447 | +€36,473 | +101.4% |
| Amounts receivable within one year | 40/41 | €34,897 | €61,036 | +€26,139 | +74.9% |
| Trade receivables | 40 | - | €664 | +€664 | |
| Other amounts receivable | 41 | €34,897 | €60,372 | +€25,475 | +73.0% |
| Cash at bank and in hand | 54/58 | €310 | €10,622 | +€10,311 | +3322.1% |
| Deferred charges and accrued income | 490/1 | €766 | €789 | +€23 | +3.0% |
| Total equity and liabilities | 10/49 | €1,911,381 | €1,890,035 | -€21,346 | -1.1% |
| Equity | 10/15 | €1,131,520 | €1,149,620 | +€18,099 | +1.6% |
| Contributions | 10/11 | €146,257 | €146,257 | = | 0.0% |
| Capital | 10 | €146,257 | €146,257 | = | 0.0% |
| Issued capital | 100 | €214,000 | €214,000 | = | 0.0% |
| Uncalled capital | 101 | €67,743 | €67,743 | = | 0.0% |
| Revaluation surpluses | 12 | €915,000 | €915,000 | = | 0.0% |
| Reserves | 13 | €23,375 | €23,375 | = | 0.0% |
| Non-distributable reserves | 130/1 | €23,375 | €23,375 | = | 0.0% |
| Legal reserve | 130 | €21,400 | €21,400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,975 | €1,975 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,888 | €64,987 | +€18,099 | +38.6% |
| Amounts payable | 17/49 | €779,860 | €740,415 | -€39,445 | -5.1% |
| Amounts payable after more than one year | 17 | €720,792 | €683,644 | -€37,148 | -5.2% |
| Financial debts | 170/4 | €715,292 | €683,644 | -€31,648 | -4.4% |
| Other amounts payable | 178/9 | €5,500 | - | -€5,500 | |
| Amounts payable within one year | 42/48 | €59,068 | €56,053 | -€3,015 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €31,648 | €42,772 | +€11,124 | +35.1% |
| Financial debts | 43 | €9,465 | €6,523 | -€2,943 | -31.1% |
| Credit institutions | 430/8 | €9,465 | - | -€9,465 | |
| Other loans | 439 | - | €6,523 | +€6,523 | |
| Trade debts | 44 | €17,955 | €6,759 | -€11,197 | -62.4% |
| Suppliers | 440/4 | €17,955 | €6,759 | -€11,197 | -62.4% |
| Accrued charges and deferred income | 492/3 | - | €718 | +€718 | |
| Non-recurring operating income | 76A | - | €6,100 | +€6,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,300 | €57,820 | +€12,519 | +27.6% |
| Other operating charges | 640/8 | €9,366 | €9,661 | +€295 | +3.2% |
| Gross operating margin | 9900 | €96,130 | €110,322 | +€14,191 | +14.8% |
| Operating profit (loss) | 9901 | €41,464 | €42,841 | +€1,377 | +3.3% |
| Financial income | 75/76B | €0 | €0 | +€0 | +2.4% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +2.4% |
| Financial charges | 65/66B | €42,013 | €24,742 | -€17,271 | -41.1% |
| Recurring financial charges | 65 | €42,013 | €24,742 | -€17,271 | -41.1% |
| Profit (loss) for the period before taxes | 9903 | -€549 | €18,099 | +€18,648 | |
| Income taxes | 67/77 | €0 | - | -€0 | |
| Profit (loss) for the period | 9904 | -€549 | €18,099 | +€18,648 | |
| Profit (loss) for the period to be appropriated | 9905 | -€549 | €18,099 | +€18,648 |
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 8 October 2026 via checked.be.