BELLIMER: 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
BELLIMER
NACE 46.832, Wholesale of timber
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.7m
2024 · €4.0m-€1.3m
Equity
€22.7m
2024 · €20.0m+€2.7m
Cash
€1.8m
2024 · €2.3m-€492,752
Balance sheet total
€33.0m
2024 · €31.4m+€1.6m
Largest movements
Assets
- Receivables within one year -€2.4m
down €2.4m (-16.5%), from €14.9m to €12.4m
of which Trade receivables: -€4.1m
- Stocks and contracts +€2.0m
up €2.0m (+59.1%), from €3.4m to €5.4m
- Current investments +€1.9m
up €1.9m (+100.5%), from €1.9m to €3.9m
- Cash -€492,752
down €492,752 (-21.1%), from €2.3m to €1.8m
mainly Stocks and contracts (-€2.0m) and Current investments (-€1.9m)
- Receivables after one year +€491,242
up €491,242 (+6.0%), from €8.1m to €8.6m
Equity and liabilities
- Profit (loss) carried forward +€1.7m
up €1.7m (+9.3%), from €18.0m to €19.6m
- Accrued charges and deferred income -€1.4m
down €1.4m (-54.1%), from €2.5m to €1.2m
- Reserves +€999,997
up €999,997 (+49.1%), from €2.0m to €3.0m
of which Tax-exempt reserves: +€999,997
Income statement
- Turnover -€9.7m
down €9.7m (-15.7%), from €61.5m to €51.9m
- Goods and materials -€8.7m
down €8.7m (-15.5%), from €56.0m to €47.3m
of which Purchases: -€4.8m
- Financial charges +€1.6m
up €1.6m (+215.7%), from €730,728 to €2.3m
- Other operating income +€722,549
up €722,549 (+1364.0%), from €52,971 to €775,520
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
€4.0m
Turnover
-€9.7m
Other operating income
+€722,549
Goods and materials
+€8.7m
Services and other goods
-€243,156
Staff costs
-€67,512
Depreciation
-€9,697
Write-downs
-€373,226
Other operating charges
-€4,539
Other operating items
+€838,887
Financial income
-€78,103
Financial charges
-€1.6m
Taxes
+€509,801
Result 2025
€2.7m
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
+€1.4m
Investment
-€1.9m
Financing
€0
Cash 2024
€2.3m
From operations (derived)
+€1.4m
Net result for the year
+€2.7m
Depreciation
+€51,329
Receivables after one year
-€491,242
Stocks and contracts
-€2.0m
Receivables within one year
+€2.4m
Deferred charges and accrued income
-€140,805
Trade debts
+€109,047
Tax, wage and social debts
+€180,335
Other debts
-€152
Accrued charges and deferred income
-€1.4m
Investment (derived)
-€1.9m
Current investments
-€1.9m
Cash 2025
€1.8m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,389,847 | €32,980,952 | +€1.6m | +5.1% |
| Formation expenses | 20 | €647 | - | -€647 | |
| Fixed assets | 21/28 | €336,639 | €285,957 | -€50,682 | -15.1% |
| Tangible fixed assets | 22/27 | €335,714 | €285,032 | -€50,682 | -15.1% |
| Furniture and vehicles | 24 | €82,009 | €61,899 | -€20,110 | -24.5% |
| Other tangible fixed assets | 26 | €253,705 | €223,133 | -€30,572 | -12.1% |
| Financial fixed assets | 28 | €925 | €925 | = | 0.0% |
| Other financial fixed assets | 284/8 | €925 | €925 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €925 | €925 | = | 0.0% |
| Current assets | 29/58 | €31,052,561 | €32,694,995 | +€1.6m | +5.3% |
| Amounts receivable after more than one year | 29 | €8,137,724 | €8,628,966 | +€491,242 | +6.0% |
| Other amounts receivable | 291 | €8,137,724 | €8,628,966 | +€491,242 | +6.0% |
| Stocks and contracts in progress | 3 | €3,424,298 | €5,446,979 | +€2.0m | +59.1% |
| Stocks | 30/36 | €3,424,298 | €5,446,979 | +€2.0m | +59.1% |
| Goods purchased for resale | 34 | €3,424,298 | €5,446,979 | +€2.0m | +59.1% |
| Amounts receivable within one year | 40/41 | €14,884,553 | €12,434,911 | -€2.4m | -16.5% |
| Trade receivables | 40 | €10,694,137 | €6,639,712 | -€4.1m | -37.9% |
| Other amounts receivable | 41 | €4,190,416 | €5,795,199 | +€1.6m | +38.3% |
| Current investments | 50/53 | €1,919,900 | €3,850,000 | +€1.9m | +100.5% |
| Other investments | 51/53 | €1,919,900 | €3,850,000 | +€1.9m | +100.5% |
| Cash at bank and in hand | 54/58 | €2,335,806 | €1,843,054 | -€492,752 | -21.1% |
| Deferred charges and accrued income | 490/1 | €350,280 | €491,085 | +€140,805 | +40.2% |
| Total equity and liabilities | 10/49 | €31,389,847 | €32,980,952 | +€1.6m | +5.1% |
| Equity | 10/15 | €20,030,540 | €22,694,680 | +€2.7m | +13.3% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €2,037,008 | €3,037,005 | +€999,997 | +49.1% |
| Tax-exempt reserves | 132 | €1,999,997 | €2,999,994 | +€999,997 | +50.0% |
| Distributable reserves | 133 | €37,011 | €37,011 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,985,472 | €19,649,615 | +€1.7m | +9.3% |
| Amounts payable | 17/49 | €11,359,307 | €10,286,272 | -€1.1m | -9.4% |
| Amounts payable within one year | 42/48 | €8,839,767 | €9,128,997 | +€289,230 | +3.3% |
| Trade debts | 44 | €5,377,795 | €5,486,842 | +€109,047 | +2.0% |
| Suppliers | 440/4 | €5,377,795 | €5,486,842 | +€109,047 | +2.0% |
| Taxes, remuneration and social security | 45 | €3,224,245 | €3,404,580 | +€180,335 | +5.6% |
| Taxes | 450/3 | €3,171,747 | €3,345,869 | +€174,122 | +5.5% |
| Remuneration and social security | 454/9 | €52,498 | €58,711 | +€6,213 | +11.8% |
| Other amounts payable | 47/48 | €237,727 | €237,575 | -€152 | -0.1% |
| Accrued charges and deferred income | 492/3 | €2,519,540 | €1,157,275 | -€1.4m | -54.1% |
| Operating income | 70/76A | €61,664,954 | €53,541,607 | -€8.1m | -13.2% |
| Turnover | 70 | €61,545,157 | €51,860,374 | -€9.7m | -15.7% |
| Other operating income | 74 | €52,971 | €775,520 | +€722,549 | +1364.0% |
| Non-recurring operating income | 76A | €66,826 | €905,713 | +€838,887 | +1255.3% |
| Operating charges | 60/66A | €57,332,842 | €49,351,820 | -€8.0m | -13.9% |
| Goods for resale, raw materials and consumables | 60 | €55,950,307 | €47,271,155 | -€8.7m | -15.5% |
| Purchases | 600/8 | €54,553,372 | €49,777,613 | -€4.8m | -8.8% |
| Change in stocks: decrease (increase) | 609 | €1,396,935 | -€2,506,458 | -€3.9m | |
| Services and other goods | 61 | €1,050,832 | €1,293,988 | +€243,156 | +23.1% |
| Remuneration, social security and pensions | 62 | €365,446 | €432,958 | +€67,512 | +18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,632 | €51,329 | +€9,697 | +23.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€80,117 | €293,109 | +€373,226 | |
| Other operating charges | 640/8 | €4,742 | €9,281 | +€4,539 | +95.7% |
| Operating profit (loss) | 9901 | €4,332,112 | €4,189,787 | -€142,325 | -3.3% |
| Financial income | 75/76B | €1,741,758 | €1,663,655 | -€78,103 | -4.5% |
| Recurring financial income | 75 | €1,741,758 | €1,663,655 | -€78,103 | -4.5% |
| Income from current assets | 751 | €702,063 | €514,113 | -€187,950 | -26.8% |
| Other financial income | 752/9 | €1,039,695 | €1,149,542 | +€109,847 | +10.6% |
| Financial charges | 65/66B | €730,728 | €2,306,819 | +€1.6m | +215.7% |
| Recurring financial charges | 65 | €730,728 | €2,306,819 | +€1.6m | +215.7% |
| Other financial charges | 652/9 | €730,728 | €2,306,819 | +€1.6m | +215.7% |
| Profit (loss) for the period before taxes | 9903 | €5,343,142 | €3,546,623 | -€1.8m | -33.6% |
| Income taxes | 67/77 | €1,392,284 | €882,483 | -€509,801 | -36.6% |
| Taxes | 670/3 | €1,392,284 | €1,189,205 | -€203,079 | -14.6% |
| Tax adjustments and reversals of tax provisions | 77 | - | €306,722 | +€306,722 | |
| Profit (loss) for the period | 9904 | €3,950,858 | €2,664,140 | -€1.3m | -32.6% |
| Transfer to tax-exempt reserves | 689 | €999,997 | €999,997 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,950,861 | €1,664,143 | -€1.3m | -43.6% |
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 6 October 2026 via checked.be.