SI - 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.
SI - BELLE
Largest movements
- Cash +€114,816
up €114,816 (+109%), from €105,488 to €220,304
mainly Depreciation (+€105,909) and Net result for the year (+€34,901)
- Tangible fixed assets -€77,343
down €77,343 (-3.9%), from €2.0m to €1.9m
of which Land and buildings: -€93,219
- Debts after one year -€75,359
down €75,359 (-8.6%), from €875,578 to €800,219
of which Other amounts payable: -€48,280
- Profit (loss) carried forward +€34,901
up €34,901 (+22.2%), from -€157,105 to -€122,204
- Trade debts +€28,949
new in 2025: €28,949
- Other operating charges +€59,126
up €59,126 (+142%), from €41,547 to €100,673
- Turnover -€21,971
down €21,971 (-5.7%), from €387,923 to €365,952
- Purchases and services -€16,906
down €16,906 (-18.5%), from €91,450 to €74,544
- Staff costs +€15,924
up €15,924 (+542%), from €2,939 to €18,863
- Taxes +€8,794
new in 2025: €8,794
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 | €2,893,740 | €2,887,564 | -€6,176 | -0.2% |
| Fixed assets | 21/28 | €1,975,106 | €1,897,763 | -€77,343 | -3.9% |
| Tangible fixed assets | 22/27 | €1,964,113 | €1,886,770 | -€77,343 | -3.9% |
| Land and buildings | 22 | €1,863,555 | €1,770,336 | -€93,219 | -5.0% |
| Plant, machinery and equipment | 23 | €77,833 | €95,596 | +€17,763 | +22.8% |
| Furniture and vehicles | 24 | €22,725 | €20,838 | -€1,887 | -8.3% |
| Financial fixed assets | 28 | €10,993 | €10,993 | = | 0.0% |
| Current assets | 29/58 | €918,634 | €989,801 | +€71,167 | +7.7% |
| Amounts receivable within one year | 40/41 | €675,625 | €647,200 | -€28,425 | -4.2% |
| Other amounts receivable | 41 | €675,625 | €647,200 | -€28,425 | -4.2% |
| Cash at bank and in hand | 54/58 | €105,488 | €220,304 | +€114,816 | +109% |
| Deferred charges and accrued income | 490/1 | €137,521 | €122,297 | -€15,224 | -11.1% |
| Total equity and liabilities | 10/49 | €2,893,740 | €2,887,564 | -€6,176 | -0.2% |
| Equity | 10/15 | €1,945,147 | €1,980,048 | +€34,901 | +1.8% |
| Contributions | 10/11 | €198,315 | €198,315 | = | 0.0% |
| Capital | 10 | €198,315 | €198,315 | = | 0.0% |
| Issued capital | 100 | €198,315 | €198,315 | = | 0.0% |
| Reserves | 13 | €1,903,937 | €1,903,937 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,903,937 | €1,903,937 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€157,105 | -€122,204 | +€34,901 | +22.2% |
| Amounts payable | 17/49 | €948,593 | €907,516 | -€41,077 | -4.3% |
| Amounts payable after more than one year | 17 | €875,578 | €800,219 | -€75,359 | -8.6% |
| Financial debts | 170/4 | €747,283 | €720,204 | -€27,079 | -3.6% |
| Other amounts payable | 178/9 | €128,295 | €80,015 | -€48,280 | -37.6% |
| Amounts payable within one year | 42/48 | €73,015 | €107,297 | +€34,282 | +47.0% |
| Current portion of amounts payable after more than one year | 42 | €72,806 | €75,359 | +€2,553 | +3.5% |
| Trade debts | 44 | - | €28,949 | +€28,949 | |
| Suppliers | 440/4 | - | €28,949 | +€28,949 | |
| Taxes, remuneration and social security | 45 | €209 | €2,989 | +€2,780 | +1,330% |
| Taxes | 450/3 | - | €84 | +€84 | |
| Remuneration and social security | 454/9 | €209 | €2,905 | +€2,696 | +1,290% |
| Turnover | 70 | €387,923 | €365,952 | -€21,971 | -5.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €91,450 | €74,544 | -€16,906 | -18.5% |
| Remuneration, social security and pensions | 62 | €2,939 | €18,863 | +€15,924 | +542% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,933 | €105,909 | -€7,024 | -6.2% |
| Other operating charges | 640/8 | €41,547 | €100,673 | +€59,126 | +142% |
| Gross operating margin | 9900 | €296,473 | €291,408 | -€5,065 | -1.7% |
| Operating profit (loss) | 9901 | €139,054 | €65,963 | -€73,091 | -52.6% |
| Financial income | 75/76B | €37,870 | €36,833 | -€1,037 | -2.7% |
| Recurring financial income | 75 | €37,870 | €36,833 | -€1,037 | -2.7% |
| Financial charges | 65/66B | €63,645 | €59,101 | -€4,544 | -7.1% |
| Recurring financial charges | 65 | €46,245 | €43,878 | -€2,367 | -5.1% |
| Non-recurring financial charges | 66B | €17,400 | €15,223 | -€2,177 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €113,279 | €43,695 | -€69,584 | -61.4% |
| Income taxes | 67/77 | - | €8,794 | +€8,794 | |
| Profit (loss) for the period | 9904 | €113,279 | €34,901 | -€78,378 | -69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €113,279 | €34,901 | -€78,378 | -69.2% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.