La Bellina: 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.
La Bellina
Largest movements
- Stocks and contracts -€18,322
down €18,322 (-25.6%), from €71,504 to €53,181
- Receivables within one year -€8,738
down €8,738 (-83.8%), from €10,428 to €1,690
of which Trade receivables: -€9,284
- Cash -€7,430
down €7,430 (-51.9%), from €14,323 to €6,894
mainly Net result for the year (-€62,481) and Tax, wage and social debts (-€15,853)
- Profit (loss) carried forward -€62,481
down €62,481 (-24.1%), from -€258,789 to -€321,271
- Debts after one year +€48,915
up €48,915 (+21.8%), from €224,139 to €273,054
- Tax, wage and social debts -€15,853
down €15,853 (-39.5%), from €40,117 to €24,264
of which Remuneration and social security: -€10,031
- Trade debts -€14,875
down €14,875 (-35.9%), from €41,423 to €26,547
- Short-term financial debts +€11,158
up €11,158 (+49.3%), from €22,652 to €33,809
- Staff costs -€17,113
down €17,113 (-40.2%), from €42,599 to €25,485
- Gross operating margin -€10,392
down €10,392 (-135%), from -€7,679 to -€18,071
- Other operating charges -€1,078
down €1,078 (-18.9%), from €5,704 to €4,627
- Financial charges +€181
up €181 (+1.6%), from €11,251 to €11,432
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 | €109,187 | €74,326 | -€34,860 | -31.9% |
| Fixed assets | 21/28 | €6,814 | €6,479 | -€335 | -4.9% |
| Tangible fixed assets | 22/27 | €1,732 | €1,397 | -€335 | -19.3% |
| Furniture and vehicles | 24 | - | €1,397 | +€1,397 | |
| Other tangible fixed assets | 26 | €1,732 | €0 | -€1,732 | -100% |
| Financial fixed assets | 28 | €5,082 | €5,082 | = | 0.0% |
| Current assets | 29/58 | €102,372 | €67,847 | -€34,525 | -33.7% |
| Stocks and contracts in progress | 3 | €71,504 | €53,181 | -€18,322 | -25.6% |
| Stocks | 30/36 | €71,504 | €53,181 | -€18,322 | -25.6% |
| Amounts receivable within one year | 40/41 | €10,428 | €1,690 | -€8,738 | -83.8% |
| Trade receivables | 40 | €10,189 | €905 | -€9,284 | -91.1% |
| Other amounts receivable | 41 | €239 | €785 | +€546 | +229% |
| Cash at bank and in hand | 54/58 | €14,323 | €6,894 | -€7,430 | -51.9% |
| Deferred charges and accrued income | 490/1 | €6,118 | €6,082 | -€36 | -0.6% |
| Total equity and liabilities | 10/49 | €109,187 | €74,326 | -€34,860 | -31.9% |
| Equity | 10/15 | -€240,189 | -€302,671 | -€62,481 | -26.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€258,789 | -€321,271 | -€62,481 | -24.1% |
| Amounts payable | 17/49 | €349,376 | €376,997 | +€27,621 | +7.9% |
| Amounts payable after more than one year | 17 | €224,139 | €273,054 | +€48,915 | +21.8% |
| Other amounts payable | 178/9 | €224,139 | €273,054 | +€48,915 | +21.8% |
| Amounts payable within one year | 42/48 | €108,761 | €88,542 | -€20,220 | -18.6% |
| Financial debts | 43 | €22,652 | €33,809 | +€11,158 | +49.3% |
| Credit institutions | 430/8 | €22,652 | €33,809 | +€11,158 | +49.3% |
| Trade debts | 44 | €41,423 | €26,547 | -€14,875 | -35.9% |
| Suppliers | 440/4 | €41,423 | €26,547 | -€14,875 | -35.9% |
| Taxes, remuneration and social security | 45 | €40,117 | €24,264 | -€15,853 | -39.5% |
| Taxes | 450/3 | €30,086 | €24,264 | -€5,822 | -19.4% |
| Remuneration and social security | 454/9 | €10,031 | €0 | -€10,031 | -100% |
| Other amounts payable | 47/48 | €4,570 | €3,921 | -€649 | -14.2% |
| Accrued charges and deferred income | 492/3 | €16,475 | €15,401 | -€1,074 | -6.5% |
| Remuneration, social security and pensions | 62 | €42,599 | €25,485 | -€17,113 | -40.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,732 | €1,862 | +€130 | +7.5% |
| Other operating charges | 640/8 | €5,704 | €4,627 | -€1,078 | -18.9% |
| Non-recurring operating charges | 66A | €174 | €444 | +€270 | +155% |
| Gross operating margin | 9900 | -€7,679 | -€18,071 | -€10,392 | -135% |
| Operating profit (loss) | 9901 | -€57,888 | -€50,488 | +€7,400 | +12.8% |
| Financial income | 75/76B | €41 | €11 | -€30 | -72.9% |
| Recurring financial income | 75 | €41 | €11 | -€30 | -72.9% |
| Financial charges | 65/66B | €11,251 | €11,432 | +€181 | +1.6% |
| Recurring financial charges | 65 | €11,251 | €11,432 | +€181 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | -€69,098 | -€61,909 | +€7,189 | +10.4% |
| Income taxes | 67/77 | €554 | €572 | +€18 | +3.3% |
| Profit (loss) for the period | 9904 | -€69,652 | -€62,481 | +€7,171 | +10.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€69,652 | -€62,481 | +€7,171 | +10.3% |
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 27 October 2026 via checked.be.