Belmondo: 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.
Belmondo
Largest movements
- Cash +€192,414
up €192,414 (+183%), from €105,426 to €297,840
mainly Current investments (+€150,000) and Net result for the year (+€48,701)
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Tangible fixed assets -€33,449
down €33,449 (-19.2%), from €173,847 to €140,398
of which Other tangible fixed assets: -€24,571
- Receivables within one year -€20,252
down €20,252 (-18.6%), from €108,723 to €88,471
of which Other amounts receivable: -€13,866
- Reserves +€17,697
up €17,697 (+3.6%), from €494,947 to €512,644
- Debts after one year -€12,000
no longer reported in 2025 (was €12,000)
- Tax, wage and social debts -€6,797
down €6,797 (-70.7%), from €9,607 to €2,810
of which Remuneration and social security: -€6,600
- Current portion of long-term debt -€6,000
down €6,000 (-33.3%), from €18,000 to €12,000
- Gross operating margin -€16,852
down €16,852 (-13.8%), from €122,543 to €105,691
- Financial income +€4,246
new in 2025: €4,246
- Taxes -€2,649
down €2,649 (-10.4%), from €25,539 to €22,890
- Other operating charges +€1,420
up €1,420 (+91.5%), from €1,551 to €2,971
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 | €550,583 | €540,779 | -€9,803 | -1.8% |
| Fixed assets | 21/28 | €173,847 | €140,398 | -€33,449 | -19.2% |
| Tangible fixed assets | 22/27 | €173,847 | €140,398 | -€33,449 | -19.2% |
| Land and buildings | 22 | €7,839 | €5,226 | -€2,613 | -33.3% |
| Furniture and vehicles | 24 | €12,070 | €5,805 | -€6,265 | -51.9% |
| Other tangible fixed assets | 26 | €153,938 | €129,367 | -€24,571 | -16.0% |
| Current assets | 29/58 | €376,736 | €400,382 | +€23,646 | +6.3% |
| Amounts receivable within one year | 40/41 | €108,723 | €88,471 | -€20,252 | -18.6% |
| Trade receivables | 40 | €69,108 | €62,722 | -€6,386 | -9.2% |
| Other amounts receivable | 41 | €39,615 | €25,749 | -€13,866 | -35.0% |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €105,426 | €297,840 | +€192,414 | +183% |
| Deferred charges and accrued income | 490/1 | €12,587 | €14,071 | +€1,484 | +11.8% |
| Total equity and liabilities | 10/49 | €550,583 | €540,779 | -€9,803 | -1.8% |
| Equity | 10/15 | €507,347 | €525,044 | +€17,697 | +3.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €494,947 | €512,644 | +€17,697 | +3.6% |
| Distributable reserves | 133 | €494,947 | €512,644 | +€17,697 | +3.6% |
| Amounts payable | 17/49 | €43,235 | €15,735 | -€27,500 | -63.6% |
| Amounts payable after more than one year | 17 | €12,000 | - | -€12,000 | |
| Financial debts | 170/4 | €12,000 | - | -€12,000 | |
| Amounts payable within one year | 42/48 | €29,325 | €15,735 | -€13,590 | -46.3% |
| Current portion of amounts payable after more than one year | 42 | €18,000 | €12,000 | -€6,000 | -33.3% |
| Trade debts | 44 | €1,718 | €925 | -€793 | -46.2% |
| Suppliers | 440/4 | €1,718 | €925 | -€793 | -46.2% |
| Taxes, remuneration and social security | 45 | €9,607 | €2,810 | -€6,797 | -70.7% |
| Taxes | 450/3 | €3,007 | €2,810 | -€197 | -6.5% |
| Remuneration and social security | 454/9 | €6,600 | - | -€6,600 | |
| Accrued charges and deferred income | 492/3 | €1,910 | - | -€1,910 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,290 | €34,958 | -€331 | -0.9% |
| Other operating charges | 640/8 | €1,551 | €2,971 | +€1,420 | +91.5% |
| Gross operating margin | 9900 | €122,543 | €105,691 | -€16,852 | -13.8% |
| Operating profit (loss) | 9901 | €85,702 | €67,761 | -€17,941 | -20.9% |
| Financial income | 75/76B | - | €4,246 | +€4,246 | |
| Recurring financial income | 75 | - | €4,246 | +€4,246 | |
| Financial charges | 65/66B | €1,617 | €417 | -€1,200 | -74.2% |
| Recurring financial charges | 65 | €1,617 | €417 | -€1,200 | -74.2% |
| Profit (loss) for the period before taxes | 9903 | €84,085 | €71,590 | -€12,495 | -14.9% |
| Income taxes | 67/77 | €25,539 | €22,890 | -€2,649 | -10.4% |
| Profit (loss) for the period | 9904 | €58,546 | €48,701 | -€9,845 | -16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €58,546 | €48,701 | -€9,845 | -16.8% |
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 25 October 2026 via checked.be.