BELLON: 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.
BELLON
Largest movements
- Stocks and contracts -€4,950
down €4,950 (-53.8%), from €9,200 to €4,250
- Receivables within one year -€4,740
down €4,740 (-51.8%), from €9,156 to €4,416
of which Trade receivables: -€3,899
- Cash +€2,228
up €2,228 (+34.7%), from €6,414 to €8,642
mainly Stocks and contracts (+€4,950) and Receivables within one year (+€4,740)
- Tangible fixed assets -€377
down €377 (-66.3%), from €568 to €192
- Trade debts -€6,163
down €6,163 (-76.4%), from €8,064 to €1,901
- Profit (loss) carried forward -€5,310
down €5,310 (-49.2%), from €10,799 to €5,489
- Tax, wage and social debts +€3,832
up €3,832 (+61.2%), from €6,257 to €10,090
of which Remuneration and social security: +€4,865
- Staff costs +€20,684
up €20,684 (+1,097%), from €1,885 to €22,568
- Other operating charges -€3,760
down €3,760 (-78.9%), from €4,768 to €1,008
- Gross operating margin +€3,326
up €3,326 (+21.9%), from €15,210 to €18,536
- Taxes -€2,437
down €2,437 (-100%), from €2,437 to €0
- Depreciation -€600
down €600 (-61.4%), from €977 to €377
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 | €30,726 | €22,979 | -€7,746 | -25.2% |
| Fixed assets | 21/28 | €5,068 | €4,692 | -€377 | -7.4% |
| Tangible fixed assets | 22/27 | €568 | €192 | -€377 | -66.3% |
| Furniture and vehicles | 24 | €568 | €192 | -€377 | -66.3% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €25,657 | €18,287 | -€7,370 | -28.7% |
| Stocks and contracts in progress | 3 | €9,200 | €4,250 | -€4,950 | -53.8% |
| Stocks | 30/36 | €9,200 | €4,250 | -€4,950 | -53.8% |
| Amounts receivable within one year | 40/41 | €9,156 | €4,416 | -€4,740 | -51.8% |
| Trade receivables | 40 | €6,791 | €2,892 | -€3,899 | -57.4% |
| Other amounts receivable | 41 | €2,365 | €1,524 | -€841 | -35.6% |
| Cash at bank and in hand | 54/58 | €6,414 | €8,642 | +€2,228 | +34.7% |
| Deferred charges and accrued income | 490/1 | €888 | €980 | +€92 | +10.4% |
| Total equity and liabilities | 10/49 | €30,726 | €22,979 | -€7,746 | -25.2% |
| Equity | 10/15 | €16,299 | €10,989 | -€5,310 | -32.6% |
| Contributions | 10/11 | €5,500 | €5,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,799 | €5,489 | -€5,310 | -49.2% |
| Amounts payable | 17/49 | €14,427 | €11,991 | -€2,437 | -16.9% |
| Amounts payable within one year | 42/48 | €14,427 | €11,991 | -€2,437 | -16.9% |
| Trade debts | 44 | €8,064 | €1,901 | -€6,163 | -76.4% |
| Suppliers | 440/4 | €8,064 | €1,901 | -€6,163 | -76.4% |
| Taxes, remuneration and social security | 45 | €6,257 | €10,090 | +€3,832 | +61.2% |
| Taxes | 450/3 | €4,640 | €3,608 | -€1,033 | -22.3% |
| Remuneration and social security | 454/9 | €1,617 | €6,482 | +€4,865 | +301% |
| Other amounts payable | 47/48 | €106 | €0 | -€106 | -100% |
| Remuneration, social security and pensions | 62 | €1,885 | €22,568 | +€20,684 | +1,097% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €977 | €377 | -€600 | -61.4% |
| Other operating charges | 640/8 | €4,768 | €1,008 | -€3,760 | -78.9% |
| Gross operating margin | 9900 | €15,210 | €18,536 | +€3,326 | +21.9% |
| Operating profit (loss) | 9901 | €7,580 | -€5,418 | -€12,997 | |
| Financial income | 75/76B | €0 | €158 | +€158 | |
| Recurring financial income | 75 | €0 | €158 | +€158 | |
| Financial charges | 65/66B | €47 | €50 | +€3 | +6.4% |
| Recurring financial charges | 65 | €47 | €50 | +€3 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €7,533 | -€5,310 | -€12,843 | |
| Income taxes | 67/77 | €2,437 | €0 | -€2,437 | -100% |
| Profit (loss) for the period | 9904 | €5,095 | -€5,310 | -€10,405 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,095 | -€5,310 | -€10,405 |
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 15 October 2026 via checked.be.