BELVA STUDIO: 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.
BELVA STUDIO
Largest movements
- Cash +€21,492
up €21,492 (+504%), from €4,261 to €25,753
mainly Net result for the year (+€32,284) and Other debts (+€22,300)
- Receivables within one year +€7,439
up €7,439 (+23.9%), from €31,191 to €38,630
of which Trade receivables: +€7,629
- Tangible fixed assets +€3,954
up €3,954 (+249%), from €1,586 to €5,540
of which Other tangible fixed assets: +€4,857
- Other debts +€22,300
up €22,300 (+223%), from €10,000 to €32,300
- Current portion of long-term debt +€10,833
new in 2025: €10,833
- Gross operating margin +€33,182
up €33,182 (+248%), from €13,361 to €46,543
- Taxes +€8,528
up €8,528 (+222%), from €3,837 to €12,365
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 | €37,039 | €69,924 | +€32,885 | +88.8% |
| Fixed assets | 21/28 | €1,586 | €5,540 | +€3,954 | +249% |
| Tangible fixed assets | 22/27 | €1,586 | €5,540 | +€3,954 | +249% |
| Furniture and vehicles | 24 | €1,586 | €683 | -€903 | -56.9% |
| Other tangible fixed assets | 26 | - | €4,857 | +€4,857 | |
| Current assets | 29/58 | €35,452 | €64,384 | +€28,931 | +81.6% |
| Amounts receivable within one year | 40/41 | €31,191 | €38,630 | +€7,439 | +23.9% |
| Trade receivables | 40 | €16,902 | €24,531 | +€7,629 | +45.1% |
| Other amounts receivable | 41 | €14,290 | €14,099 | -€190 | -1.3% |
| Cash at bank and in hand | 54/58 | €4,261 | €25,753 | +€21,492 | +504% |
| Total equity and liabilities | 10/49 | €37,039 | €69,924 | +€32,885 | +88.8% |
| Equity | 10/15 | €18,687 | €18,672 | -€16 | -0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87 | €72 | -€16 | -17.9% |
| Amounts payable | 17/49 | €18,352 | €51,252 | +€32,901 | +179% |
| Amounts payable within one year | 42/48 | €18,352 | €51,252 | +€32,901 | +179% |
| Current portion of amounts payable after more than one year | 42 | - | €10,833 | +€10,833 | |
| Trade debts | 44 | €157 | - | -€157 | |
| Suppliers | 440/4 | €157 | - | -€157 | |
| Taxes, remuneration and social security | 45 | €8,195 | €8,119 | -€76 | -0.9% |
| Taxes | 450/3 | €8,195 | €8,119 | -€76 | -0.9% |
| Other amounts payable | 47/48 | €10,000 | €32,300 | +€22,300 | +223% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,159 | €1,037 | -€122 | -10.5% |
| Other operating charges | 640/8 | €841 | €1,080 | +€239 | +28.5% |
| Gross operating margin | 9900 | €13,361 | €46,543 | +€33,182 | +248% |
| Operating profit (loss) | 9901 | €11,361 | €44,426 | +€33,065 | +291% |
| Financial income | 75/76B | €912 | €509 | -€403 | -44.2% |
| Recurring financial income | 75 | €912 | €509 | -€403 | -44.2% |
| Financial charges | 65/66B | €209 | €285 | +€76 | +36.2% |
| Recurring financial charges | 65 | €209 | €285 | +€76 | +36.2% |
| Profit (loss) for the period before taxes | 9903 | €12,064 | €44,649 | +€32,586 | +270% |
| Income taxes | 67/77 | €3,837 | €12,365 | +€8,528 | +222% |
| Profit (loss) for the period | 9904 | €8,227 | €32,284 | +€24,058 | +292% |
| Profit (loss) for the period to be appropriated | 9905 | €8,227 | €32,284 | +€24,058 | +292% |
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 13 October 2026 via checked.be.