The song "Belly" by Lil Baby & Gunna explores themes of success, wealth, and street credibility. The lyrics depict a lifestyle filled with luxury and material possessions, which symbolize the rewards the artists have gained from their hard work and hustle.

Gunna begins by addressing fake friends and imposters who try to emulate his success but fail to match his authenticity. He references his past involvement in drug dealing ("used to sell yola") and his ability to deliver captivating performances ("spittin' these vocals"). Gunna also mentions his expensive cars and the lavish lifestyle that comes with his success.

The line "I got a bitch like Keisha off of Belly" references the character Keisha from the movie "Belly" where she played a supportive and loyal role to her partner. This line indicates Gunna's appreciation for a faithful partner who stands by him.

Gunna continues to assert his elevated status, highlighting his fashion choices, references to R. Kelly, private jets ("PJ in the sky"), and his ability to overcome adversity through hard work ("worked all my life and now I understand it"). Gunna also makes it clear that disrespect will not be tolerated and emphasizes his drip (sense of style) and holding his own, even when facing challenges.

Lil Baby's verse delves into his rise to fame as a rapper, discussing his financial success, purchasing a mansion for his family, and maintaining his grounded nature despite his newfound wealth. He affirms his loyalty to his crew and his ability to keep situations under control while rewarding those who remain loyal to him. Baby highlights his continued presence in his old neighborhood, the trap, and his dedication to his craft. The lyrics also touch upon his flourishing music career, touring, and his ability to monetize his talent.

Overall, "Belly" showcases Lil Baby and Gunna's triumphant journey from humble beginnings to achieving success in the music industry. The song emphasizes the importance of remaining true to oneself, cultivating a loyal circle, and enjoying the fruits of their labor while acknowledging the challenges they have overcome.