BO é BELLE: 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.
BO é BELLE
Largest movements
- Current investments -€75,000
down €75,000 (-75.0%), from €100,000 to €25,000
- Receivables within one year +€51,975
up €51,975 (+18.9%), from €274,803 to €326,778
of which Other amounts receivable: +€67,958
- Cash -€51,539
down €51,539 (-70.3%), from €73,272 to €21,733
mainly Trade debts (-€86,929) and Receivables within one year (-€51,975)
- Tangible fixed assets -€12,685
down €12,685 (-13.3%), from €95,597 to €82,912
of which Plant, machinery and equipment: -€14,773
- Trade debts -€86,929
down €86,929 (-69.8%), from €124,485 to €37,556
- Reserves +€13,038
up €13,038 (+4.0%), from €322,106 to €335,144
of which Distributable reserves: +€31,788
- Debts after one year -€11,204
down €11,204 (-23.5%), from €47,635 to €36,431
- Depreciation +€15,214
up €15,214 (+152.8%), from €9,958 to €25,172
- Gross operating margin -€3,957
down €3,957 (-2.5%), from €156,899 to €152,942
- Financial income +€3,301
up €3,301 (+923.0%), from €358 to €3,659
- Staff costs -€2,957
down €2,957 (-3.0%), from €96,949 to €93,992
- Financial charges +€1,732
up €1,732 (+53.8%), from €3,218 to €4,950
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 | €606,442 | €515,699 | -€90,743 | -15.0% |
| Fixed assets | 21/28 | €107,421 | €92,037 | -€15,384 | -14.3% |
| Intangible fixed assets | 21 | €8,824 | €6,125 | -€2,699 | -30.6% |
| Tangible fixed assets | 22/27 | €95,597 | €82,912 | -€12,685 | -13.3% |
| Land and buildings | 22 | €1,756 | €5,788 | +€4,033 | +229.7% |
| Plant, machinery and equipment | 23 | €84,206 | €69,433 | -€14,773 | -17.5% |
| Furniture and vehicles | 24 | €9,635 | €7,690 | -€1,945 | -20.2% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €499,021 | €423,662 | -€75,358 | -15.1% |
| Stocks and contracts in progress | 3 | €45,919 | €47,516 | +€1,597 | +3.5% |
| Stocks | 30/36 | €45,919 | €47,516 | +€1,597 | +3.5% |
| Amounts receivable within one year | 40/41 | €274,803 | €326,778 | +€51,975 | +18.9% |
| Trade receivables | 40 | €59,427 | €43,443 | -€15,983 | -26.9% |
| Other amounts receivable | 41 | €215,376 | €283,335 | +€67,958 | +31.6% |
| Current investments | 50/53 | €100,000 | €25,000 | -€75,000 | -75.0% |
| Cash at bank and in hand | 54/58 | €73,272 | €21,733 | -€51,539 | -70.3% |
| Deferred charges and accrued income | 490/1 | €5,027 | €2,636 | -€2,391 | -47.6% |
| Total equity and liabilities | 10/49 | €606,442 | €515,699 | -€90,743 | -15.0% |
| Equity | 10/15 | €384,206 | €397,244 | +€13,038 | +3.4% |
| Contributions | 10/11 | €62,100 | €62,100 | = | 0.0% |
| Capital | 10 | €62,100 | €62,100 | = | 0.0% |
| Issued capital | 100 | €62,100 | €62,100 | = | 0.0% |
| Reserves | 13 | €322,106 | €335,144 | +€13,038 | +4.0% |
| Non-distributable reserves | 130/1 | €6,220 | €6,220 | = | 0.0% |
| Legal reserve | 130 | €6,220 | €6,220 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €0 | -€18,750 | -100.0% |
| Distributable reserves | 133 | €297,136 | €328,924 | +€31,788 | +10.7% |
| Amounts payable | 17/49 | €222,235 | €118,455 | -€103,780 | -46.7% |
| Amounts payable after more than one year | 17 | €47,635 | €36,431 | -€11,204 | -23.5% |
| Financial debts | 170/4 | €47,635 | €36,431 | -€11,204 | -23.5% |
| Amounts payable within one year | 42/48 | €173,513 | €82,024 | -€91,489 | -52.7% |
| Current portion of amounts payable after more than one year | 42 | €25,885 | €26,254 | +€369 | +1.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €124,485 | €37,556 | -€86,929 | -69.8% |
| Suppliers | 440/4 | €124,485 | €37,556 | -€86,929 | -69.8% |
| Advances received on contracts in progress | 46 | €4,647 | €0 | -€4,647 | -100.0% |
| Taxes, remuneration and social security | 45 | €18,496 | €18,215 | -€282 | -1.5% |
| Taxes | 450/3 | €369 | €4,117 | +€3,748 | +1016.4% |
| Remuneration and social security | 454/9 | €18,128 | €14,098 | -€4,030 | -22.2% |
| Accrued charges and deferred income | 492/3 | €1,087 | €0 | -€1,087 | -100.0% |
| Remuneration, social security and pensions | 62 | €96,949 | €93,992 | -€2,957 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,958 | €25,172 | +€15,214 | +152.8% |
| Other operating charges | 640/8 | €996 | €622 | -€374 | -37.5% |
| Gross operating margin | 9900 | €156,899 | €152,942 | -€3,957 | -2.5% |
| Operating profit (loss) | 9901 | €48,997 | €33,156 | -€15,841 | -32.3% |
| Financial income | 75/76B | €358 | €3,659 | +€3,301 | +923.0% |
| Recurring financial income | 75 | €358 | €3,659 | +€3,301 | +923.0% |
| Financial charges | 65/66B | €3,218 | €4,950 | +€1,732 | +53.8% |
| Recurring financial charges | 65 | €3,218 | €4,950 | +€1,732 | +53.8% |
| Profit (loss) for the period before taxes | 9903 | €46,136 | €31,864 | -€14,272 | -30.9% |
| Income taxes | 67/77 | €18,460 | €18,826 | +€366 | +2.0% |
| Profit (loss) for the period | 9904 | €27,676 | €13,038 | -€14,639 | -52.9% |
| Transfer from tax-exempt reserves | 789 | - | €18,750 | +€18,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,676 | €31,788 | +€4,111 | +14.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.