Bellini Anversa: 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.
Bellini Anversa
Largest movements
- Cash -€110,980
down €110,980 (-29.1%), from €381,922 to €270,942
mainly Contributions, distributions and other (-€200,000) and Receivables within one year (-€27,336)
- Receivables within one year +€27,336
up €27,336 (+65.6%), from €41,693 to €69,028
of which Trade receivables: +€29,965
- Tangible fixed assets -€20,222
down €20,222 (-9.4%), from €214,491 to €194,269
of which Land and buildings: -€15,425
- Reserves -€184,111
down €184,111 (-51.0%), from €360,838 to €176,727
of which Distributable reserves: -€184,111
- Other debts +€114,464
up €114,464 (+935%), from €12,241 to €126,705
- Debts after one year -€21,311
down €21,311 (-11.8%), from €180,691 to €159,380
- Tax, wage and social debts -€11,532
down €11,532 (-22.7%), from €50,835 to €39,303
of which Taxes: -€9,714
- Gross operating margin -€53,817
down €53,817 (-24.3%), from €221,021 to €167,203
- Taxes -€14,049
down €14,049 (-67.9%), from €20,695 to €6,646
- Financial income -€4,644
down €4,644 (-69.6%), from €6,671 to €2,027
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 | €643,985 | €541,976 | -€102,009 | -15.8% |
| Fixed assets | 21/28 | €214,491 | €194,269 | -€20,222 | -9.4% |
| Tangible fixed assets | 22/27 | €214,491 | €194,269 | -€20,222 | -9.4% |
| Land and buildings | 22 | €200,857 | €185,432 | -€15,425 | -7.7% |
| Plant, machinery and equipment | 23 | €11,244 | €7,091 | -€4,153 | -36.9% |
| Furniture and vehicles | 24 | €2,391 | €1,747 | -€644 | -26.9% |
| Current assets | 29/58 | €429,494 | €347,706 | -€81,788 | -19.0% |
| Stocks and contracts in progress | 3 | €1,439 | €1,689 | +€251 | +17.4% |
| Stocks | 30/36 | €1,439 | €1,689 | +€251 | +17.4% |
| Amounts receivable within one year | 40/41 | €41,693 | €69,028 | +€27,336 | +65.6% |
| Trade receivables | 40 | €38,956 | €68,921 | +€29,965 | +76.9% |
| Other amounts receivable | 41 | €2,736 | €107 | -€2,629 | -96.1% |
| Cash at bank and in hand | 54/58 | €381,922 | €270,942 | -€110,980 | -29.1% |
| Deferred charges and accrued income | 490/1 | €4,441 | €6,047 | +€1,606 | +36.2% |
| Total equity and liabilities | 10/49 | €643,985 | €541,976 | -€102,009 | -15.8% |
| Equity | 10/15 | €379,388 | €195,277 | -€184,111 | -48.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €360,838 | €176,727 | -€184,111 | -51.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €358,983 | €174,872 | -€184,111 | -51.3% |
| Amounts payable | 17/49 | €264,597 | €346,699 | +€82,102 | +31.0% |
| Amounts payable after more than one year | 17 | €180,691 | €159,380 | -€21,311 | -11.8% |
| Financial debts | 170/4 | €180,691 | €159,380 | -€21,311 | -11.8% |
| Amounts payable within one year | 42/48 | €83,907 | €187,319 | +€103,413 | +123% |
| Current portion of amounts payable after more than one year | 42 | €20,831 | €21,311 | +€480 | +2.3% |
| Taxes, remuneration and social security | 45 | €50,835 | €39,303 | -€11,532 | -22.7% |
| Taxes | 450/3 | €40,871 | €31,157 | -€9,714 | -23.8% |
| Remuneration and social security | 454/9 | €9,964 | €8,146 | -€1,818 | -18.2% |
| Other amounts payable | 47/48 | €12,241 | €126,705 | +€114,464 | +935% |
| Remuneration, social security and pensions | 62 | €113,967 | €116,011 | +€2,044 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,104 | €20,222 | +€117 | +0.6% |
| Other operating charges | 640/8 | €3,581 | €3,013 | -€568 | -15.9% |
| Gross operating margin | 9900 | €221,021 | €167,203 | -€53,817 | -24.3% |
| Operating profit (loss) | 9901 | €83,369 | €27,958 | -€55,411 | -66.5% |
| Financial income | 75/76B | €6,671 | €2,027 | -€4,644 | -69.6% |
| Recurring financial income | 75 | €6,671 | €2,027 | -€4,644 | -69.6% |
| Financial charges | 65/66B | €8,676 | €7,451 | -€1,225 | -14.1% |
| Recurring financial charges | 65 | €8,676 | €7,451 | -€1,225 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €81,364 | €22,535 | -€58,829 | -72.3% |
| Income taxes | 67/77 | €20,695 | €6,646 | -€14,049 | -67.9% |
| Profit (loss) for the period | 9904 | €60,669 | €15,889 | -€44,780 | -73.8% |
| Profit (loss) for the period to be appropriated | 9905 | €60,669 | €15,889 | -€44,780 | -73.8% |
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 26 October 2026 via checked.be.