BEL'EXPORT: what changed
Two fiscal 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
BEL'EXPORT
NACE 46.319, Wholesale of fruit and vegetables, excluding potatoes
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€203,090
2024 · -€247,045+€450,135
Equity
€2.4m
2024 · €2.2m+€196,843
Cash
€105,209
2024 · €430,688-€325,479
Balance sheet total
€10.9m
2024 · €14.7m-€3.8m
Largest movements
Assets
- Receivables within one year -€2.9m
down €2.9m (-23.2%), from €12.6m to €9.7m
of which Trade receivables: -€2.4m
- Stocks and contracts -€428,484
down €428,484 (-40.6%), from €1.1m to €627,142
- Cash -€325,479
down €325,479 (-75.6%), from €430,688 to €105,209
mainly Short-term financial debts (-€3.6m) and Trade debts (-€1.2m)
Equity and liabilities
- Short-term financial debts -€3.6m
down €3.6m (-62.5%), from €5.8m to €2.2m
of which Credit institutions: -€1.8m
- Debts after one year +€1.4m
up €1.4m (+5291.7%), from €26,368 to €1.4m
- Trade debts -€1.2m
down €1.2m (-20.6%), from €5.8m to €4.6m
- Other debts -€670,198
down €670,198 (-93.7%), from €714,985 to €44,787
- Profit (loss) carried forward +€203,090
up €203,090 (+26.9%), from €754,885 to €957,975
Income statement
- Turnover +€6.3m
up €6.3m (+11.9%), from €52.5m to €58.8m
- Goods and materials +€5.9m
up €5.9m (+12.4%), from €47.8m to €53.7m
of which Purchases: +€4.9m
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.
Result 2024
-€247,045
Turnover
+€6.3m
Other operating income
-€270,721
Goods and materials
-€5.9m
Services and other goods
+€389,859
Staff costs
-€92,237
Depreciation
-€5,588
Write-downs
+€59,587
Other operating charges
-€92,476
Other operating items
+€12,456
Financial income
+€51,347
Financial charges
+€45,841
Taxes
+€2,639
Result 2025
€203,090
Cash bridge derived
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
+€1.8m
Investment
-€15,082
Financing
-€2.1m
Cash 2024
€430,688
From operations (derived)
+€1.8m
Net result for the year
+€203,090
Depreciation
+€152,917
Stocks and contracts
+€428,484
Receivables within one year
+€2.9m
Deferred charges and accrued income
+€8,329
Trade debts
-€1.2m
Tax, wage and social debts
-€59,219
Other debts
-€670,198
Accrued charges and deferred income
-€34,276
Investment (derived)
-€15,082
Investment in fixed assets (net)
-€15,082
Financing
-€2.1m
Debts after one year
+€1.4m
Current portion of long-term debt
+€135,857
Short-term financial debts
-€3.6m
Contributions, distributions and other
-€6,246
Cash 2025
€105,209
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,747,455 | €10,927,597 | -€3.8m | -25.9% |
| Fixed assets | 21/28 | €597,363 | €459,529 | -€137,834 | -23.1% |
| Intangible fixed assets | 21 | €262,156 | €214,406 | -€47,750 | -18.2% |
| Tangible fixed assets | 22/27 | €272,188 | €182,723 | -€89,465 | -32.9% |
| Plant, machinery and equipment | 23 | €115,603 | €80,779 | -€34,824 | -30.1% |
| Furniture and vehicles | 24 | €90,871 | €63,245 | -€27,626 | -30.4% |
| Leasing and similar rights | 25 | €65,713 | €38,698 | -€27,015 | -41.1% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €63,020 | €62,400 | -€620 | -1.0% |
| Affiliated companies | 280/1 | €62,400 | €62,400 | = | 0.0% |
| Participating interests | 280 | €62,400 | €62,400 | = | 0.0% |
| Other financial fixed assets | 284/8 | €620 | €0 | -€620 | -100.0% |
| Amounts receivable and cash guarantees | 285/8 | €620 | €0 | -€620 | -100.0% |
| Current assets | 29/58 | €14,150,092 | €10,468,069 | -€3.7m | -26.0% |
| Stocks and contracts in progress | 3 | €1,055,626 | €627,142 | -€428,484 | -40.6% |
| Stocks | 30/36 | €1,055,626 | €627,142 | -€428,484 | -40.6% |
| Raw materials and consumables | 30/31 | €31,888 | €50,334 | +€18,446 | +57.8% |
| Goods purchased for resale | 34 | €1,023,737 | €576,808 | -€446,929 | -43.7% |
| Amounts receivable within one year | 40/41 | €12,591,861 | €9,672,129 | -€2.9m | -23.2% |
| Trade receivables | 40 | €9,075,630 | €6,721,114 | -€2.4m | -25.9% |
| Other amounts receivable | 41 | €3,516,232 | €2,951,015 | -€565,216 | -16.1% |
| Cash at bank and in hand | 54/58 | €430,688 | €105,209 | -€325,479 | -75.6% |
| Deferred charges and accrued income | 490/1 | €71,917 | €63,588 | -€8,329 | -11.6% |
| Total equity and liabilities | 10/49 | €14,747,455 | €10,927,597 | -€3.8m | -25.9% |
| Equity | 10/15 | €2,229,885 | €2,426,728 | +€196,843 | +8.8% |
| Contributions | 10/11 | €1,283,000 | €1,283,000 | = | 0.0% |
| Capital | 10 | €1,283,000 | €1,283,000 | = | 0.0% |
| Issued capital | 100 | €1,283,000 | €1,283,000 | = | 0.0% |
| Reserves | 13 | €165,800 | €165,800 | = | 0.0% |
| Non-distributable reserves | 130/1 | €128,300 | €128,300 | = | 0.0% |
| Legal reserve | 130 | €128,300 | €128,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €754,885 | €957,975 | +€203,090 | +26.9% |
| Investment grants | 15 | €26,200 | €19,953 | -€6,246 | -23.8% |
| Amounts payable | 17/49 | €12,517,570 | €8,500,869 | -€4.0m | -32.1% |
| Amounts payable after more than one year | 17 | €26,368 | €1,421,692 | +€1.4m | +5291.7% |
| Financial debts | 170/4 | €26,368 | €1,421,692 | +€1.4m | +5291.7% |
| Leasing and similar obligations | 172 | €26,368 | €2,027 | -€24,341 | -92.3% |
| Credit institutions | 173 | - | €1,419,665 | +€1.4m | |
| Amounts payable within one year | 42/48 | €12,456,926 | €7,079,177 | -€5.4m | -43.2% |
| Current portion of amounts payable after more than one year | 42 | €24,340 | €160,197 | +€135,857 | +558.2% |
| Financial debts | 43 | €5,750,000 | €2,154,626 | -€3.6m | -62.5% |
| Credit institutions | 430/8 | €4,000,000 | €2,154,626 | -€1.8m | -46.1% |
| Other loans | 439 | €1,750,000 | €0 | -€1.8m | -100.0% |
| Trade debts | 44 | €5,768,961 | €4,580,146 | -€1.2m | -20.6% |
| Suppliers | 440/4 | €5,768,961 | €4,580,146 | -€1.2m | -20.6% |
| Taxes, remuneration and social security | 45 | €198,640 | €139,421 | -€59,219 | -29.8% |
| Taxes | 450/3 | €69,748 | €6,871 | -€62,877 | -90.1% |
| Remuneration and social security | 454/9 | €128,892 | €132,550 | +€3,658 | +2.8% |
| Other amounts payable | 47/48 | €714,985 | €44,787 | -€670,198 | -93.7% |
| Accrued charges and deferred income | 492/3 | €34,276 | €0 | -€34,276 | -100.0% |
| Operating income | 70/76A | €53,267,344 | €59,264,170 | +€6.0m | +11.3% |
| Turnover | 70 | €52,503,694 | €58,763,768 | +€6.3m | +11.9% |
| Other operating income | 74 | €759,674 | €488,953 | -€270,721 | -35.6% |
| Non-recurring operating income | 76A | €3,976 | €11,449 | +€7,473 | +188.0% |
| Operating charges | 60/66A | €53,242,668 | €58,889,186 | +€5.6m | +10.6% |
| Goods for resale, raw materials and consumables | 60 | €47,795,850 | €53,706,495 | +€5.9m | +12.4% |
| Purchases | 600/8 | €48,339,567 | €53,278,012 | +€4.9m | +10.2% |
| Change in stocks: decrease (increase) | 609 | -€543,716 | €428,484 | +€972,200 | |
| Services and other goods | 61 | €4,429,945 | €4,040,087 | -€389,859 | -8.8% |
| Remuneration, social security and pensions | 62 | €825,040 | €917,277 | +€92,237 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,329 | €152,917 | +€5,588 | +3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,762 | -€61,349 | -€59,587 | -3381.4% |
| Other operating charges | 640/8 | €38,653 | €131,129 | +€92,476 | +239.2% |
| Non-recurring operating charges | 66A | €7,613 | €2,630 | -€4,983 | -65.5% |
| Operating profit (loss) | 9901 | €24,675 | €374,984 | +€350,309 | +1419.7% |
| Financial income | 75/76B | €72,439 | €123,786 | +€51,347 | +70.9% |
| Recurring financial income | 75 | €72,439 | €123,786 | +€51,347 | +70.9% |
| Income from financial fixed assets | 750 | €39,780 | €86,000 | +€46,220 | +116.2% |
| Other financial income | 752/9 | €32,659 | €37,786 | +€5,127 | +15.7% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €340,534 | €294,693 | -€45,841 | -13.5% |
| Recurring financial charges | 65 | €340,534 | €294,693 | -€45,841 | -13.5% |
| Debt charges | 650 | €292,927 | €196,203 | -€96,724 | -33.0% |
| Other financial charges | 652/9 | €47,607 | €98,490 | +€50,883 | +106.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€243,420 | €204,077 | +€447,497 | |
| Income taxes | 67/77 | €3,626 | €987 | -€2,639 | -72.8% |
| Taxes | 670/3 | €103,316 | €987 | -€102,329 | -99.0% |
| Tax adjustments and reversals of tax provisions | 77 | €99,691 | €0 | -€99,691 | -100.0% |
| Profit (loss) for the period | 9904 | -€247,045 | €203,090 | +€450,135 | |
| Profit (loss) for the period to be appropriated | 9905 | -€247,045 | €203,090 | +€450,135 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.