BELLIMMO: 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
BELLIMMO
NACE 46.392, Non-specialised wholesale
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€135,682
2024 · -€120,620+€256,302
Equity
€1.4m
2024 · €1.2m+€134,016
Cash
€380,616
2024 · €305,791+€74,825
Balance sheet total
€4.1m
2024 · €3.9m+€233,204
Largest movements
Assets
- Receivables within one year +€147,991
up €147,991 (+15.0%), from €983,803 to €1.1m
of which Trade receivables: +€222,434
- Cash +€74,825
up €74,825 (+24.5%), from €305,791 to €380,616
mainly Depreciation (+€182,968) and Trade debts (+€148,707)
- Stocks and contracts +€61,093
up €61,093 (+7.7%), from €797,591 to €858,684
Equity and liabilities
- Trade debts +€148,707
up €148,707 (+26.2%), from €566,793 to €715,500
- Reserves +€135,682
up €135,682 (+13.5%), from €1.0m to €1.1m
Income statement
- Gross operating margin +€354,162
up €354,162 (+44.7%), from €792,420 to €1.1m
- Staff costs +€42,463
up €42,463 (+5.7%), from €740,122 to €782,585
- Depreciation +€32,060
up €32,060 (+21.2%), from €150,908 to €182,968
- Other operating charges +€22,532
up €22,532 (+201.7%), from €11,170 to €33,702
- Financial income +€17,907
up €17,907 (+28.0%), from €63,892 to €81,800
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
-€120,620
Gross operating margin
+€354,162
Staff costs
-€42,463
Depreciation
-€32,060
Write-downs
+€1,003
Other operating charges
-€22,532
Financial income
+€17,907
Financial charges
-€6,172
Taxes
-€13,545
Result 2025
€135,682
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
+€269,973
Investment
-€139,838
Financing
-€55,310
Cash 2024
€305,791
From operations (derived)
+€269,973
Net result for the year
+€135,682
Depreciation
+€182,968
Stocks and contracts
-€61,093
Receivables within one year
-€147,991
Deferred charges and accrued income
+€7,574
Trade debts
+€148,707
Tax, wage and social debts
+€9,293
Other debts
-€52
Accrued charges and deferred income
-€5,116
Investment (derived)
-€139,838
Investment in fixed assets (net)
-€139,838
Financing
-€55,310
Debts after one year
-€38,882
Current portion of long-term debt
-€17,752
Short-term financial debts
+€2,990
Contributions, distributions and other
-€1,666
Cash 2025
€380,616
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,852,604 | €4,085,809 | +€233,204 | +6.1% |
| Fixed assets | 21/28 | €1,747,713 | €1,704,583 | -€43,131 | -2.5% |
| Intangible fixed assets | 21 | €135,181 | €109,370 | -€25,811 | -19.1% |
| Tangible fixed assets | 22/27 | €1,612,032 | €1,594,712 | -€17,320 | -1.1% |
| Plant, machinery and equipment | 23 | €539,874 | €517,297 | -€22,577 | -4.2% |
| Furniture and vehicles | 24 | €24,528 | €38,907 | +€14,380 | +58.6% |
| Leasing and similar rights | 25 | - | €38,569 | +€38,569 | |
| Other tangible fixed assets | 26 | €1,047,630 | €999,939 | -€47,691 | -4.6% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €2,104,891 | €2,381,226 | +€276,335 | +13.1% |
| Stocks and contracts in progress | 3 | €797,591 | €858,684 | +€61,093 | +7.7% |
| Stocks | 30/36 | €797,591 | €858,684 | +€61,093 | +7.7% |
| Amounts receivable within one year | 40/41 | €983,803 | €1,131,794 | +€147,991 | +15.0% |
| Trade receivables | 40 | €836,986 | €1,059,420 | +€222,434 | +26.6% |
| Other amounts receivable | 41 | €146,817 | €72,374 | -€74,443 | -50.7% |
| Cash at bank and in hand | 54/58 | €305,791 | €380,616 | +€74,825 | +24.5% |
| Deferred charges and accrued income | 490/1 | €17,707 | €10,133 | -€7,574 | -42.8% |
| Total equity and liabilities | 10/49 | €3,852,604 | €4,085,809 | +€233,204 | +6.1% |
| Equity | 10/15 | €1,244,908 | €1,378,924 | +€134,016 | +10.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Outside capital | 11 | €62,000 | €62,000 | = | 0.0% |
| Other | 1109/19 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,004,234 | €1,139,916 | +€135,682 | +13.5% |
| Distributable reserves | 133 | €1,004,234 | €1,139,916 | +€135,682 | +13.5% |
| Profit (loss) carried forward | 14 | €178,674 | €177,008 | -€1,666 | -0.9% |
| Amounts payable | 17/49 | €2,607,696 | €2,706,884 | +€99,188 | +3.8% |
| Amounts payable after more than one year | 17 | €1,472,760 | €1,433,878 | -€38,882 | -2.6% |
| Financial debts | 170/4 | €1,472,760 | €1,433,878 | -€38,882 | -2.6% |
| Amounts payable within one year | 42/48 | €1,116,201 | €1,259,387 | +€143,186 | +12.8% |
| Current portion of amounts payable after more than one year | 42 | €95,216 | €77,464 | -€17,752 | -18.6% |
| Financial debts | 43 | €297,010 | €300,000 | +€2,990 | +1.0% |
| Credit institutions | 430/8 | €297,010 | €300,000 | +€2,990 | +1.0% |
| Trade debts | 44 | €566,793 | €715,500 | +€148,707 | +26.2% |
| Suppliers | 440/4 | €566,793 | €715,500 | +€148,707 | +26.2% |
| Taxes, remuneration and social security | 45 | €105,464 | €114,757 | +€9,293 | +8.8% |
| Taxes | 450/3 | €5,398 | €12,162 | +€6,764 | +125.3% |
| Remuneration and social security | 454/9 | €100,066 | €102,595 | +€2,529 | +2.5% |
| Other amounts payable | 47/48 | €51,718 | €51,666 | -€52 | -0.1% |
| Accrued charges and deferred income | 492/3 | €18,735 | €13,619 | -€5,116 | -27.3% |
| Remuneration, social security and pensions | 62 | €740,122 | €782,585 | +€42,463 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €150,908 | €182,968 | +€32,060 | +21.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,003 | - | -€1,003 | |
| Other operating charges | 640/8 | €11,170 | €33,702 | +€22,532 | +201.7% |
| Gross operating margin | 9900 | €792,420 | €1,146,582 | +€354,162 | +44.7% |
| Operating profit (loss) | 9901 | -€110,783 | €147,328 | +€258,111 | |
| Financial income | 75/76B | €63,892 | €81,800 | +€17,907 | +28.0% |
| Recurring financial income | 75 | €63,892 | €81,800 | +€17,907 | +28.0% |
| Financial charges | 65/66B | €73,206 | €79,377 | +€6,172 | +8.4% |
| Recurring financial charges | 65 | €71,589 | €79,377 | +€7,788 | +10.9% |
| Non-recurring financial charges | 66B | €1,617 | - | -€1,617 | |
| Profit (loss) for the period before taxes | 9903 | -€120,096 | €149,750 | +€269,847 | |
| Income taxes | 67/77 | €524 | €14,068 | +€13,545 | +2587.3% |
| Profit (loss) for the period | 9904 | -€120,620 | €135,682 | +€256,302 | |
| Profit (loss) for the period to be appropriated | 9905 | -€120,620 | €135,682 | +€256,302 |
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 9 October 2026 via checked.be.