BELLOCCHIO: 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.
BELLOCCHIO
Largest movements
- Current investments +€432,061
new in 2025: €432,061
- Cash -€424,225
down €424,225 (-77.2%), from €549,184 to €124,959
mainly Current investments (-€432,061) and Other debts (-€142,000)
- Receivables within one year -€119,290
down €119,290 (-74.2%), from €160,763 to €41,473
of which Other amounts receivable: -€115,824
- Tangible fixed assets +€63,025
up €63,025 (+77.3%), from €81,585 to €144,610
of which Furniture and vehicles: +€69,200
- Other debts -€142,000
no longer reported in 2025 (was €142,000)
- Reserves +€58,200
up €58,200 (+9.2%), from €631,082 to €689,282
of which Distributable reserves: +€58,200
- Debts after one year +€25,871
new in 2025: €25,871
- Current portion of long-term debt +€11,303
new in 2025: €11,303
- Gross operating margin +€15,670
up €15,670 (+17.9%), from €87,308 to €102,978
- Depreciation +€11,598
up €11,598 (+123%), from €9,425 to €21,023
- Financial income -€5,740
down €5,740 (-42.7%), from €13,438 to €7,699
- Taxes -€3,536
down €3,536 (-12.3%), from €28,863 to €25,327
- Financial charges +€2,550
up €2,550 (+154%), from €1,660 to €4,210
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 | €797,061 | €748,234 | -€48,827 | -6.1% |
| Fixed assets | 21/28 | €81,585 | €144,610 | +€63,025 | +77.3% |
| Tangible fixed assets | 22/27 | €81,585 | €144,610 | +€63,025 | +77.3% |
| Furniture and vehicles | 24 | €4,327 | €73,527 | +€69,200 | +1,599% |
| Leasing and similar rights | 25 | €73,379 | €67,835 | -€5,544 | -7.6% |
| Other tangible fixed assets | 26 | €3,878 | €3,247 | -€631 | -16.3% |
| Current assets | 29/58 | €715,476 | €603,624 | -€111,852 | -15.6% |
| Amounts receivable within one year | 40/41 | €160,763 | €41,473 | -€119,290 | -74.2% |
| Trade receivables | 40 | €19,640 | €16,173 | -€3,467 | -17.7% |
| Other amounts receivable | 41 | €141,123 | €25,300 | -€115,824 | -82.1% |
| Current investments | 50/53 | - | €432,061 | +€432,061 | |
| Cash at bank and in hand | 54/58 | €549,184 | €124,959 | -€424,225 | -77.2% |
| Deferred charges and accrued income | 490/1 | €5,530 | €5,132 | -€397 | -7.2% |
| Total equity and liabilities | 10/49 | €797,061 | €748,234 | -€48,827 | -6.1% |
| Equity | 10/15 | €650,682 | €708,899 | +€58,217 | +8.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €631,082 | €689,282 | +€58,200 | +9.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,712 | €24,712 | = | 0.0% |
| Distributable reserves | 133 | €604,510 | €662,710 | +€58,200 | +9.6% |
| Profit (loss) carried forward | 14 | €1,000 | €1,016 | +€17 | +1.7% |
| Amounts payable | 17/49 | €146,379 | €39,336 | -€107,043 | -73.1% |
| Amounts payable after more than one year | 17 | - | €25,871 | +€25,871 | |
| Financial debts | 170/4 | - | €25,871 | +€25,871 | |
| Amounts payable within one year | 42/48 | €146,379 | €13,465 | -€132,914 | -90.8% |
| Current portion of amounts payable after more than one year | 42 | - | €11,303 | +€11,303 | |
| Trade debts | 44 | €4,379 | €2,162 | -€2,218 | -50.6% |
| Suppliers | 440/4 | €4,379 | €2,162 | -€2,218 | -50.6% |
| Other amounts payable | 47/48 | €142,000 | - | -€142,000 | |
| Turnover | 70 | €120,492 | €120,040 | -€452 | -0.4% |
| Non-recurring operating income | 76A | - | €13,750 | +€13,750 | |
| Goods, raw materials, services and sundry goods | 60/61 | €33,184 | €30,812 | -€2,372 | -7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,425 | €21,023 | +€11,598 | +123% |
| Other operating charges | 640/8 | €1,607 | €1,900 | +€293 | +18.2% |
| Gross operating margin | 9900 | €87,308 | €102,978 | +€15,670 | +17.9% |
| Operating profit (loss) | 9901 | €76,275 | €80,055 | +€3,779 | +5.0% |
| Financial income | 75/76B | €13,438 | €7,699 | -€5,740 | -42.7% |
| Recurring financial income | 75 | €13,438 | €7,699 | -€5,740 | -42.7% |
| Financial charges | 65/66B | €1,660 | €4,210 | +€2,550 | +154% |
| Recurring financial charges | 65 | €1,660 | €4,210 | +€2,550 | +154% |
| Profit (loss) for the period before taxes | 9903 | €88,054 | €83,544 | -€4,510 | -5.1% |
| Income taxes | 67/77 | €28,863 | €25,327 | -€3,536 | -12.3% |
| Profit (loss) for the period | 9904 | €59,191 | €58,217 | -€974 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €59,191 | €58,217 | -€974 | -1.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.