Bellini Instructeur: 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.
Bellini Instructeur
Largest movements
- Cash +€20,302
up €20,302 (+45.4%), from €44,709 to €65,011
mainly Net result for the year (+€23,664) and Depreciation (+€710)
- Receivables within one year +€809
up €809 (+80.3%), from €1,008 to €1,817
of which Trade receivables: +€825
- Tangible fixed assets -€710
down €710 (-26.7%), from €2,656 to €1,946
- Reserves +€22,500
up €22,500 (+64.7%), from €34,800 to €57,300
- Tax, wage and social debts -€2,703
down €2,703 (-38.5%), from €7,016 to €4,313
No income-statement line moved by more than 1% of the activity.
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 | €48,372 | €68,773 | +€20,401 | +42.2% |
| Fixed assets | 21/28 | €2,656 | €1,946 | -€710 | -26.7% |
| Tangible fixed assets | 22/27 | €2,656 | €1,946 | -€710 | -26.7% |
| Furniture and vehicles | 24 | €2,656 | €1,946 | -€710 | -26.7% |
| Current assets | 29/58 | €45,716 | €66,827 | +€21,111 | +46.2% |
| Amounts receivable within one year | 40/41 | €1,008 | €1,817 | +€809 | +80.3% |
| Trade receivables | 40 | - | €825 | +€825 | |
| Other amounts receivable | 41 | €1,008 | €991 | -€16 | -1.6% |
| Cash at bank and in hand | 54/58 | €44,709 | €65,011 | +€20,302 | +45.4% |
| Total equity and liabilities | 10/49 | €48,372 | €68,773 | +€20,401 | +42.2% |
| Equity | 10/15 | €39,804 | €62,636 | +€22,831 | +57.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €34,800 | €57,300 | +€22,500 | +64.7% |
| Distributable reserves | 133 | €34,800 | €57,300 | +€22,500 | +64.7% |
| Profit (loss) carried forward | 14 | €3,504 | €3,836 | +€331 | +9.5% |
| Amounts payable | 17/49 | €8,567 | €6,137 | -€2,430 | -28.4% |
| Amounts payable within one year | 42/48 | €8,567 | €6,137 | -€2,430 | -28.4% |
| Trade debts | 44 | €493 | €967 | +€474 | +96.1% |
| Suppliers | 440/4 | €493 | €967 | +€474 | +96.1% |
| Taxes, remuneration and social security | 45 | €7,016 | €4,313 | -€2,703 | -38.5% |
| Taxes | 450/3 | €7,016 | €4,313 | -€2,703 | -38.5% |
| Other amounts payable | 47/48 | €1,059 | €858 | -€201 | -19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €572 | €710 | +€138 | +24.0% |
| Gross operating margin | 9900 | €35,678 | €35,852 | +€174 | +0.5% |
| Operating profit (loss) | 9901 | €35,106 | €35,142 | +€37 | +0.1% |
| Financial charges | 65/66B | €147 | €150 | +€3 | +2.0% |
| Recurring financial charges | 65 | €147 | €150 | +€3 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €34,959 | €34,992 | +€34 | +0.1% |
| Income taxes | 67/77 | €11,272 | €11,328 | +€56 | +0.5% |
| Profit (loss) for the period | 9904 | €23,686 | €23,664 | -€22 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €23,686 | €23,664 | -€22 | -0.1% |
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 28 September 2026 via checked.be.