As you travel with Baldor you discover some things about him:
1.  He was once a very rich merchant in lake town, but lost his fortune and business when Smaug fell from the sky.
2.  His wife Halla also died that fateful night; he found his young son in the flames but was not able to save his wife.
3.  After that he and his son moved to Dale and have slowly been trying to rebuild his business.
4.  This is his first trip since that night.
5.  Its obvious that Belgo is his fathers pride and joy.