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5 Bel’Vue: 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.

What changed

5 Bel’Vue

BE 1015.196.258
NACE 46.170, Agents in the wholesale of food, beverages and tobacco
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€315
2024 · €1,230-€915
Equity
€6,545
2024 · €6,230+€315
Cash
€2,054
2024 · €7,178-€5,124
Balance sheet total
€27,948
2024 · €24,453+€3,495

Largest movements

2024 to 2025
Assets
  • Tangible fixed assets +€8,154

    up €8,154 (+71.2%), from €11,450 to €19,604

    of which Other tangible fixed assets: +€9,773

  • Cash -€5,124

    down €5,124 (-71.4%), from €7,178 to €2,054

    mainly Trade debts (-€12,758) and Investment in fixed assets (net) (-€12,277)

  • Deferred charges and accrued income +€862

    up €862 (+49.3%), from €1,748 to €2,610

  • Receivables within one year -€593

    down €593 (-21.5%), from €2,756 to €2,163

    of which Other amounts receivable: -€981

  • Stocks and contracts +€473

    new in 2025: €473

Equity and liabilities
  • Other debts +€15,988

    up €15,988 (+366%), from €4,369 to €20,356

  • Trade debts -€12,758

    down €12,758 (-95.2%), from €13,407 to €649

  • Reserves +€315

    up €315 (+25.6%), from €1,230 to €1,545

Income statement
  • Depreciation +€3,555

    up €3,555 (+421%), from €844 to €4,399

  • Gross operating margin +€2,730

    up €2,730 (+92.9%), from €2,939 to €5,669

  • Other operating charges +€155

    up €155 (+37.1%), from €419 to €575

  • Taxes -€67

    down €67 (-15.3%), from €436 to €369

From the 2024 result to the 2025 result

effect on the 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.

Result 2024 €1,230
Gross operating margin +€2,730
Depreciation -€3,555
Other operating charges -€155
Financial charges -€1
Taxes +€67
Result 2025 €315
raises the resultlowers the result

Derived cash bridge

cash 2024 to 2025

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.

From operations +€7,152
Investment -€12,277
Financing €0
Cash 2024 €7,178
Net result for the year +€315
Depreciation +€4,399
Stocks and contracts -€473
Receivables within one year +€593
Deferred charges and accrued income -€862
Trade debts -€12,758
Smaller working-capital items -€50
Other debts +€15,988
Investment in fixed assets (net) -€12,277
Cash 2025 €2,054
brings cash intakes cash out
Every line side by side 38 lines
Line Code 2024 2025 Change %
Total assets 20/58 €24,453 €27,948 +€3,495 +14.3%
Formation expenses 20 €1,320 €1,044 -€276 -20.9%
Fixed assets 21/28 €11,450 €19,604 +€8,154 +71.2%
Tangible fixed assets 22/27 €11,450 €19,604 +€8,154 +71.2%
Plant, machinery and equipment 23 - €1,183 +€1,183
Furniture and vehicles 24 €11,450 €8,648 -€2,802 -24.5%
Other tangible fixed assets 26 - €9,773 +€9,773
Current assets 29/58 €11,683 €7,300 -€4,383 -37.5%
Stocks and contracts in progress 3 - €473 +€473
Stocks 30/36 - €473 +€473
Amounts receivable within one year 40/41 €2,756 €2,163 -€593 -21.5%
Trade receivables 40 €1,588 €1,977 +€389 +24.5%
Other amounts receivable 41 €1,168 €187 -€981 -84.0%
Cash at bank and in hand 54/58 €7,178 €2,054 -€5,124 -71.4%
Deferred charges and accrued income 490/1 €1,748 €2,610 +€862 +49.3%
Total equity and liabilities 10/49 €24,453 €27,948 +€3,495 +14.3%
Equity 10/15 €6,230 €6,545 +€315 +5.1%
Contributions 10/11 €5,000 €5,000 = 0.0%
Reserves 13 €1,230 €1,545 +€315 +25.6%
Distributable reserves 133 €1,230 €1,545 +€315 +25.6%
Amounts payable 17/49 €18,223 €21,403 +€3,180 +17.5%
Amounts payable within one year 42/48 €18,211 €21,403 +€3,192 +17.5%
Trade debts 44 €13,407 €649 -€12,758 -95.2%
Suppliers 440/4 €13,407 €649 -€12,758 -95.2%
Taxes, remuneration and social security 45 €436 €398 -€38 -8.7%
Taxes 450/3 €436 €398 -€38 -8.7%
Other amounts payable 47/48 €4,369 €20,356 +€15,988 +366%
Accrued charges and deferred income 492/3 €12 - -€12
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €844 €4,399 +€3,555 +421%
Other operating charges 640/8 €419 €575 +€155 +37.1%
Gross operating margin 9900 €2,939 €5,669 +€2,730 +92.9%
Operating profit (loss) 9901 €1,676 €696 -€980 -58.5%
Financial charges 65/66B €11 €12 +€1 +12.7%
Recurring financial charges 65 €11 €12 +€1 +12.7%
Profit (loss) for the period before taxes 9903 €1,665 €684 -€982 -58.9%
Income taxes 67/77 €436 €369 -€67 -15.3%
Profit (loss) for the period 9904 €1,230 €315 -€915 -74.4%
Profit (loss) for the period to be appropriated 9905 €1,230 €315 -€915 -74.4%

Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.