BellRock: 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.
What changed
BellRock
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €2.4m-€1.3m
Equity
€12.9m
2024 · €11.8m+€1.1m
Cash
€67,756
2024 · €118,912-€51,156
Balance sheet total
€38.0m
2024 · €37.5m+€486,860
Largest movements
Assets
- Receivables within one year +€471,351
new in 2025: €471,351
of which Other amounts receivable: +€405,709
Equity and liabilities
- Profit (loss) carried forward +€1.1m
up €1.1m (+46.6%), from €2.4m to €3.5m
- Debts after one year -€560,351
down €560,351 (-2.2%), from €25.6m to €25.0m
of which Financial debts: -€560,351
Income statement
- Financial income -€1.9m
down €1.9m (-63.6%), from €3.0m to €1.1m
- Other operating income +€370,863
up €370,863 (+8,830%), from €4,200 to €375,063
- Financial charges -€214,786
down €214,786 (-19.7%), from €1.1m to €873,058
- Services and other goods -€57,048
down €57,048 (-31.7%), from €179,691 to €122,643
- Taxes -€7,408
down €7,408, from €3,901 to -€3,508
of which Taxes: -€3,901
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.
Result 2024
€2.4m
Other operating income
+€370,863
Services and other goods
+€57,048
Depreciation
+€4,333
Other operating charges
-€22
Other operating items
+€14
Financial income
-€1.9m
Financial charges
+€214,786
Taxes
+€7,408
Result 2025
€1.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€591,708
Investment
-€69,975
Financing
-€572,890
Cash 2024
€118,912
From operations (derived)
+€591,708
Net result for the year
+€1.1m
Depreciation
+€3,310
Receivables within one year
-€471,351
Trade debts
-€3,528
Tax, wage and social debts
-€616
Other debts
-€56,706
Accrued charges and deferred income
-€4,676
Investment (derived)
-€69,975
Investment in fixed assets (net)
-€69,975
Financing
-€572,890
Debts after one year
-€560,351
Current portion of long-term debt
-€12,539
Cash 2025
€67,756
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,510,904 | €37,997,764 | +€486,860 | +1.3% |
| Fixed assets | 21/28 | €37,391,992 | €37,458,656 | +€66,665 | +0.2% |
| Tangible fixed assets | 22/27 | €11,992 | €78,656 | +€66,665 | +556% |
| Land and buildings | 22 | €9,025 | €7,782 | -€1,243 | -13.8% |
| Plant, machinery and equipment | 23 | €2,100 | €900 | -€1,200 | -57.1% |
| Furniture and vehicles | 24 | €867 | - | -€867 | |
| Assets under construction and advance payments | 27 | - | €69,975 | +€69,975 | |
| Financial fixed assets | 28 | €37,380,000 | €37,380,000 | = | 0.0% |
| Affiliated companies | 280/1 | €37,380,000 | €37,380,000 | = | 0.0% |
| Participating interests | 280 | €37,380,000 | €37,380,000 | = | 0.0% |
| Current assets | 29/58 | €118,912 | €539,107 | +€420,195 | +353% |
| Amounts receivable within one year | 40/41 | - | €471,351 | +€471,351 | |
| Trade receivables | 40 | - | €65,643 | +€65,643 | |
| Other amounts receivable | 41 | - | €405,709 | +€405,709 | |
| Cash at bank and in hand | 54/58 | €118,912 | €67,756 | -€51,156 | -43.0% |
| Total equity and liabilities | 10/49 | €37,510,904 | €37,997,764 | +€486,860 | +1.3% |
| Equity | 10/15 | €11,781,734 | €12,907,008 | +€1.1m | +9.6% |
| Contributions | 10/11 | €9,348,000 | €9,348,000 | = | 0.0% |
| Reserves | 13 | €18,991 | €18,991 | = | 0.0% |
| Distributable reserves | 133 | €18,991 | €18,991 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,414,743 | €3,540,018 | +€1.1m | +46.6% |
| Amounts payable | 17/49 | €25,729,170 | €25,090,755 | -€638,415 | -2.5% |
| Amounts payable after more than one year | 17 | €25,584,990 | €25,024,639 | -€560,351 | -2.2% |
| Financial debts | 170/4 | €20,912,490 | €20,352,139 | -€560,351 | -2.7% |
| Credit institutions | 173 | - | €4,000,000 | +€4.0m | |
| Other loans | 174 | €20,912,490 | €16,352,139 | -€4.6m | -21.8% |
| Other amounts payable | 178/9 | €4,672,500 | €4,672,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €127,792 | €54,404 | -€73,388 | -57.4% |
| Current portion of amounts payable after more than one year | 42 | €15,172 | €2,633 | -€12,539 | -82.6% |
| Trade debts | 44 | €6,255 | €2,728 | -€3,528 | -56.4% |
| Suppliers | 440/4 | €6,255 | €2,728 | -€3,528 | -56.4% |
| Taxes, remuneration and social security | 45 | €33,844 | €33,227 | -€616 | -1.8% |
| Taxes | 450/3 | €33,194 | €33,227 | +€34 | +0.1% |
| Remuneration and social security | 454/9 | €650 | - | -€650 | |
| Other amounts payable | 47/48 | €72,521 | €15,815 | -€56,706 | -78.2% |
| Accrued charges and deferred income | 492/3 | €16,388 | €11,712 | -€4,676 | -28.5% |
| Operating income | 70/76A | €655,200 | €1,026,063 | +€370,863 | +56.6% |
| Turnover | 70 | €651,000 | €651,000 | = | 0.0% |
| Other operating income | 74 | €4,200 | €375,063 | +€370,863 | +8,830% |
| Operating charges | 60/66A | €188,324 | €126,951 | -€61,373 | -32.6% |
| Services and other goods | 61 | €179,691 | €122,643 | -€57,048 | -31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,643 | €3,310 | -€4,333 | -56.7% |
| Other operating charges | 640/8 | €740 | €763 | +€22 | +3.0% |
| Non-recurring operating charges | 66A | €249 | €235 | -€14 | -5.6% |
| Operating profit (loss) | 9901 | €466,876 | €899,113 | +€432,236 | +92.6% |
| Financial income | 75/76B | €3,012,759 | €1,095,712 | -€1.9m | -63.6% |
| Recurring financial income | 75 | €3,012,759 | €1,095,712 | -€1.9m | -63.6% |
| Income from financial fixed assets | 750 | €3,000,000 | €1,095,709 | -€1.9m | -63.5% |
| Other financial income | 752/9 | €12,759 | €3 | -€12,756 | -100.0% |
| Financial charges | 65/66B | €1,087,844 | €873,058 | -€214,786 | -19.7% |
| Recurring financial charges | 65 | €1,087,844 | €873,058 | -€214,786 | -19.7% |
| Debt charges | 650 | €1,087,262 | €872,528 | -€214,734 | -19.7% |
| Other financial charges | 652/9 | €582 | €530 | -€52 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €2,391,791 | €1,121,767 | -€1.3m | -53.1% |
| Income taxes | 67/77 | €3,901 | -€3,508 | -€7,408 | |
| Taxes | 670/3 | €3,901 | - | -€3,901 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €3,508 | +€3,508 | |
| Profit (loss) for the period | 9904 | €2,387,891 | €1,125,274 | -€1.3m | -52.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,387,891 | €1,125,274 | -€1.3m | -52.9% |
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 16 October 2026 via checked.be.