PLUS BELLE: what changed
Two fiscal 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.
PLUS BELLE
Largest movements
- Tangible fixed assets +€225,689
up €225,689 (+262.7%), from €85,902 to €311,591
of which Land and buildings: +€252,146
- Cash +€33,312
up €33,312 (+104.5%), from €31,878 to €65,190
mainly Debts after one year (+€196,582) and Depreciation (+€57,221)
- Stocks and contracts -€13,181
down €13,181 (-37.8%), from €34,849 to €21,668
- Debts after one year +€196,582
up €196,582 (+891.9%), from €22,041 to €218,623
- Reserves +€38,615
up €38,615 (+57.8%), from €66,764 to €105,379
- Current portion of long-term debt +€5,981
up €5,981 (+57.7%), from €10,363 to €16,344
- Other debts -€4,740
down €4,740 (-11.8%), from €40,140 to €35,400
- Gross operating margin +€33,941
up €33,941 (+39.2%), from €86,657 to €120,599
- Depreciation +€33,582
up €33,582 (+142.1%), from €23,639 to €57,221
- Financial charges +€6,658
up €6,658 (+207.4%), from €3,211 to €9,869
- Taxes -€3,389
down €3,389 (-19.0%), from €17,834 to €14,445
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 | €158,705 | €400,387 | +€241,681 | +152.3% |
| Fixed assets | 21/28 | €85,902 | €311,591 | +€225,689 | +262.7% |
| Tangible fixed assets | 22/27 | €85,902 | €311,591 | +€225,689 | +262.7% |
| Land and buildings | 22 | - | €252,146 | +€252,146 | |
| Plant, machinery and equipment | 23 | €68,608 | €47,917 | -€20,692 | -30.2% |
| Furniture and vehicles | 24 | €17,294 | €11,529 | -€5,765 | -33.3% |
| Current assets | 29/58 | €72,803 | €88,795 | +€15,992 | +22.0% |
| Stocks and contracts in progress | 3 | €34,849 | €21,668 | -€13,181 | -37.8% |
| Stocks | 30/36 | €34,849 | €21,668 | -€13,181 | -37.8% |
| Amounts receivable within one year | 40/41 | €3,943 | €1,937 | -€2,006 | -50.9% |
| Trade receivables | 40 | €1,459 | €1,382 | -€77 | -5.3% |
| Other amounts receivable | 41 | €2,484 | €555 | -€1,930 | -77.7% |
| Cash at bank and in hand | 54/58 | €31,878 | €65,190 | +€33,312 | +104.5% |
| Deferred charges and accrued income | 490/1 | €2,133 | €0 | -€2,133 | -100.0% |
| Total equity and liabilities | 10/49 | €158,705 | €400,387 | +€241,681 | +152.3% |
| Equity | 10/15 | €71,764 | €110,379 | +€38,615 | +53.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €66,764 | €105,379 | +€38,615 | +57.8% |
| Distributable reserves | 133 | €66,764 | €105,379 | +€38,615 | +57.8% |
| Amounts payable | 17/49 | €86,941 | €290,008 | +€203,066 | +233.6% |
| Amounts payable after more than one year | 17 | €22,041 | €218,623 | +€196,582 | +891.9% |
| Financial debts | 170/4 | €22,041 | €218,623 | +€196,582 | +891.9% |
| Amounts payable within one year | 42/48 | €64,900 | €71,384 | +€6,484 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €10,363 | €16,344 | +€5,981 | +57.7% |
| Trade debts | 44 | €4,645 | €7,037 | +€2,392 | +51.5% |
| Suppliers | 440/4 | €4,645 | €7,037 | +€2,392 | +51.5% |
| Taxes, remuneration and social security | 45 | €9,753 | €12,604 | +€2,851 | +29.2% |
| Taxes | 450/3 | €9,753 | €12,604 | +€2,851 | +29.2% |
| Other amounts payable | 47/48 | €40,140 | €35,400 | -€4,740 | -11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,639 | €57,221 | +€33,582 | +142.1% |
| Other operating charges | 640/8 | €553 | €590 | +€37 | +6.6% |
| Gross operating margin | 9900 | €86,657 | €120,599 | +€33,941 | +39.2% |
| Operating profit (loss) | 9901 | €62,465 | €62,787 | +€322 | +0.5% |
| Financial income | 75/76B | €143 | €141 | -€2 | -1.2% |
| Recurring financial income | 75 | €143 | €141 | -€2 | -1.2% |
| Financial charges | 65/66B | €3,211 | €9,869 | +€6,658 | +207.4% |
| Recurring financial charges | 65 | €3,211 | €9,869 | +€6,658 | +207.4% |
| Profit (loss) for the period before taxes | 9903 | €59,398 | €53,060 | -€6,338 | -10.7% |
| Income taxes | 67/77 | €17,834 | €14,445 | -€3,389 | -19.0% |
| Profit (loss) for the period | 9904 | €41,564 | €38,615 | -€2,949 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €41,564 | €38,615 | -€2,949 | -7.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.