Bellipharma: 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.
Bellipharma
Largest movements
- Tangible fixed assets +€145,143
up €145,143 (+72.5%), from €200,087 to €345,229
of which Other tangible fixed assets: +€133,119
- Stocks and contracts +€83,151
up €83,151 (+67.4%), from €123,306 to €206,457
- Receivables within one year +€58,128
up €58,128 (+113.0%), from €51,441 to €109,569
of which Trade receivables: +€63,834
- Intangible fixed assets -€29,270
down €29,270 (-100.0%), from €29,270 to €0
- Cash +€13,373
up €13,373 (+30.3%), from €44,182 to €57,555
mainly Trade debts (+€115,650) and Current portion of long-term debt (+€106,186)
- Trade debts +€115,650
up €115,650 (+668.2%), from €17,308 to €132,958
- Current portion of long-term debt +€106,186
up €106,186, from €0 to €106,186
- Debts after one year +€66,808
up €66,808, from €0 to €66,808
- Profit (loss) carried forward -€9,471
down €9,471 (-21.9%), from €43,265 to €33,795
- Gross operating margin +€124,069
up €124,069 (+437.2%), from €28,379 to €152,448
- Staff costs +€81,311
up €81,311 (+343.8%), from €23,651 to €104,962
- Depreciation +€5,320
up €5,320 (+27.0%), from €19,682 to €25,002
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 | €448,286 | €718,811 | +€270,524 | +60.3% |
| Fixed assets | 21/28 | €229,357 | €345,229 | +€115,872 | +50.5% |
| Intangible fixed assets | 21 | €29,270 | €0 | -€29,270 | -100.0% |
| Tangible fixed assets | 22/27 | €200,087 | €345,229 | +€145,143 | +72.5% |
| Furniture and vehicles | 24 | - | €12,024 | +€12,024 | |
| Other tangible fixed assets | 26 | €200,087 | €333,206 | +€133,119 | +66.5% |
| Current assets | 29/58 | €218,929 | €373,582 | +€154,652 | +70.6% |
| Stocks and contracts in progress | 3 | €123,306 | €206,457 | +€83,151 | +67.4% |
| Stocks | 30/36 | €123,306 | €206,457 | +€83,151 | +67.4% |
| Amounts receivable within one year | 40/41 | €51,441 | €109,569 | +€58,128 | +113.0% |
| Trade receivables | 40 | €41,441 | €105,275 | +€63,834 | +154.0% |
| Other amounts receivable | 41 | €10,000 | €4,294 | -€5,706 | -57.1% |
| Cash at bank and in hand | 54/58 | €44,182 | €57,555 | +€13,373 | +30.3% |
| Total equity and liabilities | 10/49 | €448,286 | €718,811 | +€270,524 | +60.3% |
| Equity | 10/15 | €223,865 | €214,395 | -€9,471 | -4.2% |
| Contributions | 10/11 | €180,600 | €180,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,265 | €33,795 | -€9,471 | -21.9% |
| Amounts payable | 17/49 | €224,421 | €504,416 | +€279,995 | +124.8% |
| Amounts payable after more than one year | 17 | €0 | €66,808 | +€66,808 | |
| Financial debts | 170/4 | €0 | €66,808 | +€66,808 | |
| Amounts payable within one year | 42/48 | €224,421 | €437,608 | +€213,187 | +95.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | €106,186 | +€106,186 | |
| Trade debts | 44 | €17,308 | €132,958 | +€115,650 | +668.2% |
| Suppliers | 440/4 | €17,308 | €132,958 | +€115,650 | +668.2% |
| Taxes, remuneration and social security | 45 | €2,727 | €0 | -€2,727 | -100.0% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €2,727 | €0 | -€2,727 | -100.0% |
| Other amounts payable | 47/48 | €204,387 | €198,464 | -€5,922 | -2.9% |
| Non-recurring operating income | 76A | €0 | €199 | +€199 | |
| Remuneration, social security and pensions | 62 | €23,651 | €104,962 | +€81,311 | +343.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,682 | €25,002 | +€5,320 | +27.0% |
| Non-recurring operating charges | 66A | - | €29,270 | +€29,270 | |
| Gross operating margin | 9900 | €28,379 | €152,448 | +€124,069 | +437.2% |
| Operating profit (loss) | 9901 | -€14,954 | -€6,786 | +€8,168 | +54.6% |
| Financial income | 75/76B | €250 | €0 | -€250 | -100.0% |
| Recurring financial income | 75 | €250 | €0 | -€250 | -100.0% |
| Financial charges | 65/66B | €4,146 | €2,684 | -€1,461 | -35.3% |
| Recurring financial charges | 65 | €4,146 | €2,684 | -€1,461 | -35.3% |
| Profit (loss) for the period before taxes | 9903 | -€18,850 | -€9,471 | +€9,379 | +49.8% |
| Income taxes | 67/77 | €213 | €0 | -€213 | -100.0% |
| Profit (loss) for the period | 9904 | -€19,063 | -€9,471 | +€9,592 | +50.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,063 | -€9,471 | +€9,592 | +50.3% |
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.