BELLSTAR: 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.
BELLSTAR
Largest movements
- Cash +€35,367
up €35,367 (+13.8%), from €256,743 to €292,110
mainly Receivables within one year (+€34,482) and Net result for the year (+€26,139)
- Receivables within one year -€34,482
down €34,482 (-14.2%), from €243,561 to €209,079
of which Other amounts receivable: -€18,419
- Deferred charges and accrued income -€8,477
down €8,477 (-31.8%), from €26,637 to €18,160
- Reserves -€18,689
down €18,689 (-4.2%), from €448,329 to €429,640
- Other debts +€5,909
up €5,909 (+9.5%), from €62,354 to €68,263
- Tax, wage and social debts +€5,481
up €5,481 (+79.0%), from €6,938 to €12,419
- Gross operating margin -€29,230
down €29,230 (-42.7%), from €68,454 to €39,224
- Taxes -€8,911
down €8,911 (-45.4%), from €19,620 to €10,709
- Financial charges +€1,649
up €1,649 (+143%), from €1,157 to €2,807
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 | €526,940 | €519,349 | -€7,591 | -1.4% |
| Current assets | 29/58 | €526,940 | €519,349 | -€7,591 | -1.4% |
| Amounts receivable within one year | 40/41 | €243,561 | €209,079 | -€34,482 | -14.2% |
| Trade receivables | 40 | €26,723 | €10,660 | -€16,062 | -60.1% |
| Other amounts receivable | 41 | €216,838 | €198,419 | -€18,419 | -8.5% |
| Cash at bank and in hand | 54/58 | €256,743 | €292,110 | +€35,367 | +13.8% |
| Deferred charges and accrued income | 490/1 | €26,637 | €18,160 | -€8,477 | -31.8% |
| Total equity and liabilities | 10/49 | €526,940 | €519,349 | -€7,591 | -1.4% |
| Equity | 10/15 | €454,529 | €435,840 | -€18,689 | -4.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €448,329 | €429,640 | -€18,689 | -4.2% |
| Distributable reserves | 133 | €448,329 | €429,640 | -€18,689 | -4.2% |
| Amounts payable | 17/49 | €72,412 | €83,509 | +€11,098 | +15.3% |
| Amounts payable within one year | 42/48 | €72,412 | €83,509 | +€11,098 | +15.3% |
| Trade debts | 44 | €3,120 | €2,828 | -€292 | -9.4% |
| Suppliers | 440/4 | €3,120 | €2,828 | -€292 | -9.4% |
| Taxes, remuneration and social security | 45 | €6,938 | €12,419 | +€5,481 | +79.0% |
| Taxes | 450/3 | €6,938 | €12,419 | +€5,481 | +79.0% |
| Other amounts payable | 47/48 | €62,354 | €68,263 | +€5,909 | +9.5% |
| Other operating charges | 640/8 | €1,368 | €1,729 | +€361 | +26.4% |
| Gross operating margin | 9900 | €68,454 | €39,224 | -€29,230 | -42.7% |
| Operating profit (loss) | 9901 | €67,086 | €37,495 | -€29,591 | -44.1% |
| Financial income | 75/76B | €2,430 | €2,160 | -€270 | -11.1% |
| Recurring financial income | 75 | €2,430 | €2,160 | -€270 | -11.1% |
| Financial charges | 65/66B | €1,157 | €2,807 | +€1,649 | +143% |
| Recurring financial charges | 65 | €1,157 | €2,807 | +€1,649 | +143% |
| Profit (loss) for the period before taxes | 9903 | €68,359 | €36,848 | -€31,511 | -46.1% |
| Income taxes | 67/77 | €19,620 | €10,709 | -€8,911 | -45.4% |
| Profit (loss) for the period | 9904 | €48,738 | €26,139 | -€22,599 | -46.4% |
| Profit (loss) for the period to be appropriated | 9905 | €48,738 | €26,139 | -€22,599 | -46.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.