BELLINGS: 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.
BELLINGS
Largest movements
- Tangible fixed assets -€33,969
down €33,969 (-41.8%), from €81,267 to €47,298
of which Furniture and vehicles: -€33,536
- Receivables within one year +€26,017
up €26,017 (+40.6%), from €64,101 to €90,118
of which Trade receivables: +€24,900
- Cash -€18,365
down €18,365 (-68.8%), from €26,683 to €8,318
mainly Net result for the year (-€35,627) and Receivables within one year (-€26,017)
- Deferred charges and accrued income -€2,975
down €2,975 (-52.7%), from €5,650 to €2,675
- Profit (loss) carried forward -€35,627
down €35,627 (-234%), from -€15,213 to -€50,840
- Debts after one year -€9,040
down €9,040 (-31.0%), from €29,143 to €20,103
- Trade debts +€8,008
up €8,008 (+62.8%), from €12,760 to €20,768
- Other debts +€7,636
up €7,636 (+11.6%), from €65,806 to €73,443
- Gross operating margin +€8,709
up €8,709 (+43.8%), from -€19,899 to -€11,190
- Depreciation -€6,225
down €6,225 (-27.9%), from €22,300 to €16,074
- Staff costs +€3,750
up €3,750 (+272%), from €1,381 to €5,131
- Other operating charges -€619
down €619 (-31.4%), from €1,972 to €1,353
- Financial charges -€464
down €464 (-21.2%), from €2,183 to €1,720
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 | €178,252 | €148,823 | -€29,429 | -16.5% |
| Fixed assets | 21/28 | €81,819 | €47,712 | -€34,107 | -41.7% |
| Intangible fixed assets | 21 | €552 | €414 | -€138 | -25.0% |
| Tangible fixed assets | 22/27 | €81,267 | €47,298 | -€33,969 | -41.8% |
| Plant, machinery and equipment | 23 | €14,749 | €14,316 | -€433 | -2.9% |
| Furniture and vehicles | 24 | €66,518 | €32,982 | -€33,536 | -50.4% |
| Current assets | 29/58 | €96,434 | €101,111 | +€4,677 | +4.9% |
| Amounts receivable within one year | 40/41 | €64,101 | €90,118 | +€26,017 | +40.6% |
| Trade receivables | 40 | €46,589 | €71,489 | +€24,900 | +53.4% |
| Other amounts receivable | 41 | €17,512 | €18,629 | +€1,117 | +6.4% |
| Cash at bank and in hand | 54/58 | €26,683 | €8,318 | -€18,365 | -68.8% |
| Deferred charges and accrued income | 490/1 | €5,650 | €2,675 | -€2,975 | -52.7% |
| Total equity and liabilities | 10/49 | €178,252 | €148,823 | -€29,429 | -16.5% |
| Equity | 10/15 | €59,735 | €24,108 | -€35,627 | -59.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €56,348 | €56,348 | = | 0.0% |
| Distributable reserves | 133 | €56,348 | €56,348 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,213 | -€50,840 | -€35,627 | -234% |
| Amounts payable | 17/49 | €118,517 | €124,715 | +€6,197 | +5.2% |
| Amounts payable after more than one year | 17 | €29,143 | €20,103 | -€9,040 | -31.0% |
| Financial debts | 170/4 | €29,143 | €20,103 | -€9,040 | -31.0% |
| Amounts payable within one year | 42/48 | €89,374 | €104,611 | +€15,237 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | €8,666 | €9,040 | +€374 | +4.3% |
| Trade debts | 44 | €12,760 | €20,768 | +€8,008 | +62.8% |
| Suppliers | 440/4 | €12,760 | €20,768 | +€8,008 | +62.8% |
| Taxes, remuneration and social security | 45 | €2,142 | €1,361 | -€781 | -36.5% |
| Taxes | 450/3 | €2,142 | €1,361 | -€781 | -36.5% |
| Other amounts payable | 47/48 | €65,806 | €73,443 | +€7,636 | +11.6% |
| Non-recurring operating income | 76A | - | €15 | +€15 | |
| Remuneration, social security and pensions | 62 | €1,381 | €5,131 | +€3,750 | +272% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,300 | €16,074 | -€6,225 | -27.9% |
| Other operating charges | 640/8 | €1,972 | €1,353 | -€619 | -31.4% |
| Gross operating margin | 9900 | -€19,899 | -€11,190 | +€8,709 | +43.8% |
| Operating profit (loss) | 9901 | -€45,551 | -€33,749 | +€11,803 | +25.9% |
| Financial income | 75/76B | €3 | €27 | +€24 | +769% |
| Recurring financial income | 75 | €3 | €27 | +€24 | +769% |
| Financial charges | 65/66B | €2,183 | €1,720 | -€464 | -21.2% |
| Recurring financial charges | 65 | €2,183 | €1,720 | -€464 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | -€47,731 | -€35,441 | +€12,290 | +25.7% |
| Income taxes | 67/77 | €187 | €186 | -€1 | -0.5% |
| Profit (loss) for the period | 9904 | -€47,918 | -€35,627 | +€12,291 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,918 | -€35,627 | +€12,291 | +25.7% |
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.