Bely: 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.
Bely
Largest movements
- Tangible fixed assets -€214,251
down €214,251 (-70.6%), from €303,685 to €89,434
of which Land and buildings: -€214,055
- Contributions -€177,662
down €177,662 (-31.6%), from €562,705 to €385,043
- Reserves -€66,897
down €66,897 (-31.6%), from €211,881 to €144,984
of which Distributable reserves: -€58,410
- Other debts +€58,938
up €58,938 (+162.6%), from €36,243 to €95,181
- Profit (loss) carried forward -€51,366
down €51,366, from €1,588 to -€49,778
- Trade debts +€9,979
up €9,979 (+854.4%), from €1,168 to €11,147
- Gross operating margin -€75,715
down €75,715, from €19,254 to -€56,461
- Other operating charges -€22,057
down €22,057 (-85.6%), from €25,762 to €3,705
- Financial income +€7,830
up €7,830 (+124.2%), from €6,302 to €14,132
- Financial charges +€4,516
up €4,516, from -€2,035 to €2,481
- Depreciation -€1,835
down €1,835 (-47.3%), from €3,881 to €2,046
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.
Cash bridge derived
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 | €815,835 | €586,577 | -€229,258 | -28.1% |
| Fixed assets | 21/28 | €303,685 | €89,434 | -€214,251 | -70.6% |
| Tangible fixed assets | 22/27 | €303,685 | €89,434 | -€214,251 | -70.6% |
| Land and buildings | 22 | €303,298 | €89,243 | -€214,055 | -70.6% |
| Plant, machinery and equipment | 23 | €387 | €190 | -€197 | -50.9% |
| Current assets | 29/58 | €512,150 | €497,143 | -€15,007 | -2.9% |
| Amounts receivable within one year | 40/41 | €31,431 | €24,967 | -€6,464 | -20.6% |
| Trade receivables | 40 | €3,473 | €563 | -€2,910 | -83.8% |
| Other amounts receivable | 41 | €27,958 | €24,405 | -€3,553 | -12.7% |
| Current investments | 50/53 | €462,425 | €456,357 | -€6,068 | -1.3% |
| Cash at bank and in hand | 54/58 | €18,294 | €15,819 | -€2,475 | -13.5% |
| Total equity and liabilities | 10/49 | €815,835 | €586,577 | -€229,258 | -28.1% |
| Equity | 10/15 | €776,174 | €480,249 | -€295,925 | -38.1% |
| Contributions | 10/11 | €562,705 | €385,043 | -€177,662 | -31.6% |
| Capital | 10 | €562,705 | €385,043 | -€177,662 | -31.6% |
| Issued capital | 100 | €562,705 | €385,043 | -€177,662 | -31.6% |
| Reserves | 13 | €211,881 | €144,984 | -€66,897 | -31.6% |
| Non-distributable reserves | 130/1 | €26,881 | €18,394 | -€8,487 | -31.6% |
| Legal reserve | 130 | €26,875 | €18,390 | -€8,485 | -31.6% |
| Reserves not available under the articles | 1311 | €6 | €4 | -€2 | -33.3% |
| Distributable reserves | 133 | €185,000 | €126,590 | -€58,410 | -31.6% |
| Profit (loss) carried forward | 14 | €1,588 | -€49,778 | -€51,366 | |
| Amounts payable | 17/49 | €39,661 | €106,328 | +€66,667 | +168.1% |
| Amounts payable within one year | 42/48 | €39,661 | €106,328 | +€66,667 | +168.1% |
| Current portion of amounts payable after more than one year | 42 | €2,250 | €0 | -€2,250 | -100.0% |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Trade debts | 44 | €1,168 | €11,147 | +€9,979 | +854.4% |
| Suppliers | 440/4 | €1,168 | €11,147 | +€9,979 | +854.4% |
| Other amounts payable | 47/48 | €36,243 | €95,181 | +€58,938 | +162.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,881 | €2,046 | -€1,835 | -47.3% |
| Other operating charges | 640/8 | €25,762 | €3,705 | -€22,057 | -85.6% |
| Non-recurring operating charges | 66A | €145 | €58 | -€87 | -60.0% |
| Gross operating margin | 9900 | €19,254 | -€56,461 | -€75,715 | |
| Operating profit (loss) | 9901 | -€10,534 | -€62,270 | -€51,736 | -491.1% |
| Financial income | 75/76B | €6,302 | €14,132 | +€7,830 | +124.2% |
| Recurring financial income | 75 | €6,302 | €14,132 | +€7,830 | +124.2% |
| Financial charges | 65/66B | -€2,035 | €2,481 | +€4,516 | |
| Recurring financial charges | 65 | -€2,035 | €2,481 | +€4,516 | |
| Profit (loss) for the period before taxes | 9903 | -€2,197 | -€50,619 | -€48,422 | -2204.0% |
| Income taxes | 67/77 | €233 | €245 | +€12 | +5.2% |
| Profit (loss) for the period | 9904 | -€2,430 | -€50,865 | -€48,435 | -1993.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,430 | -€50,865 | -€48,435 | -1993.2% |
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 12 October 2026 via checked.be.