Bel Food: what changed
What changed
Bel Food
NACE 47.279, Other retail sale of food
filed annual accounts (NBB)
Net result for the year
€85
2024 · -€109,925+€110,010
Equity
€180,641
2024 · €182,921-€2,280
Cash
€109,576
2024 · €68,273+€41,304
Balance sheet total
€415,604
2024 · €355,150+€60,454
Largest movements
Assets
- Cash +€41,304
up €41,304 (+60.5%), from €68,273 to €109,576
mainly Debts after one year (+€38,237) and Receivables within one year (+€23,995)
- Tangible fixed assets +€36,891
up €36,891 (+24.9%), from €148,366 to €185,258
of which Furniture and vehicles: +€47,781
- Receivables within one year -€23,995
down €23,995 (-40.1%), from €59,808 to €35,814
of which Other amounts receivable: -€28,589
- Stocks and contracts +€7,088
up €7,088 (+9.3%), from €76,018 to €83,106
Equity and liabilities
- Debts after one year +€38,237
new in 2025: €38,237
- Other debts +€21,458
up €21,458 (+53.7%), from €39,928 to €61,386
- Current portion of long-term debt +€11,080
new in 2025: €11,080
- Trade debts -€7,783
down €7,783 (-8.3%), from €93,257 to €85,474
Income statement
- Gross operating margin +€71,070
up €71,070 (+21.6%), from €328,868 to €399,939
- Depreciation +€12,080
up €12,080 (+108%), from €11,174 to €23,254
- Staff costs -€8,736
down €8,736 (-2.4%), from €362,530 to €353,794
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€109,925
Gross operating margin
+€71,070
Staff costs
+€8,736
Depreciation
-€12,080
Other operating charges
+€99
Other operating items
+€43,097
Financial income
-€821
Financial charges
-€92
Result 2025
€85
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€54,497
Investment
-€60,145
Financing
+€46,952
Cash 2024
€68,273
From operations (derived)
+€54,497
Net result for the year
+€85
Depreciation
+€23,254
Stocks and contracts
-€7,088
Receivables within one year
+€23,995
Deferred charges and accrued income
+€834
Trade debts
-€7,783
Tax, wage and social debts
-€258
Other debts
+€21,458
Investment (derived)
-€60,145
Investment in fixed assets (net)
-€60,145
Financing
+€46,952
Debts after one year
+€38,237
Current portion of long-term debt
+€11,080
Contributions, distributions and other
-€2,365
Cash 2025
€109,576
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €355,150 | €415,604 | +€60,454 | +17.0% |
| Fixed assets | 21/28 | €150,216 | €187,108 | +€36,891 | +24.6% |
| Tangible fixed assets | 22/27 | €148,366 | €185,258 | +€36,891 | +24.9% |
| Land and buildings | 22 | €13,367 | €12,334 | -€1,033 | -7.7% |
| Plant, machinery and equipment | 23 | €125,071 | €116,105 | -€8,966 | -7.2% |
| Furniture and vehicles | 24 | €2,813 | €50,594 | +€47,781 | +1,699% |
| Other tangible fixed assets | 26 | €7,115 | €6,225 | -€890 | -12.5% |
| Financial fixed assets | 28 | €1,850 | €1,850 | = | 0.0% |
| Current assets | 29/58 | €204,934 | €228,496 | +€23,562 | +11.5% |
| Stocks and contracts in progress | 3 | €76,018 | €83,106 | +€7,088 | +9.3% |
| Stocks | 30/36 | €76,018 | €83,106 | +€7,088 | +9.3% |
| Amounts receivable within one year | 40/41 | €59,808 | €35,814 | -€23,995 | -40.1% |
| Trade receivables | 40 | €6,146 | €10,740 | +€4,594 | +74.8% |
| Other amounts receivable | 41 | €53,662 | €25,073 | -€28,589 | -53.3% |
| Cash at bank and in hand | 54/58 | €68,273 | €109,576 | +€41,304 | +60.5% |
| Deferred charges and accrued income | 490/1 | €834 | €0 | -€834 | -100% |
| Total equity and liabilities | 10/49 | €355,150 | €415,604 | +€60,454 | +17.0% |
| Equity | 10/15 | €182,921 | €180,641 | -€2,280 | -1.2% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,813 | €72,897 | +€85 | +0.1% |
| Investment grants | 15 | €33,108 | €30,743 | -€2,365 | -7.1% |
| Amounts payable | 17/49 | €172,229 | €234,963 | +€62,734 | +36.4% |
| Amounts payable after more than one year | 17 | - | €38,237 | +€38,237 | |
| Financial debts | 170/4 | - | €38,237 | +€38,237 | |
| Amounts payable within one year | 42/48 | €172,229 | €196,726 | +€24,497 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | - | €11,080 | +€11,080 | |
| Trade debts | 44 | €93,257 | €85,474 | -€7,783 | -8.3% |
| Suppliers | 440/4 | €93,257 | €85,474 | -€7,783 | -8.3% |
| Taxes, remuneration and social security | 45 | €39,044 | €38,786 | -€258 | -0.7% |
| Remuneration and social security | 454/9 | €39,044 | €38,786 | -€258 | -0.7% |
| Other amounts payable | 47/48 | €39,928 | €61,386 | +€21,458 | +53.7% |
| Non-recurring operating income | 76A | €2,617 | €0 | -€2,617 | -100% |
| Remuneration, social security and pensions | 62 | €362,530 | €353,794 | -€8,736 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,174 | €23,254 | +€12,080 | +108% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €409 | €310 | -€99 | -24.3% |
| Non-recurring operating charges | 66A | €58,443 | €15,346 | -€43,097 | -73.7% |
| Gross operating margin | 9900 | €328,868 | €399,939 | +€71,070 | +21.6% |
| Operating profit (loss) | 9901 | -€103,688 | €7,236 | +€110,923 | |
| Financial income | 75/76B | €821 | €0 | -€821 | -100% |
| Recurring financial income | 75 | €821 | €0 | -€821 | -100% |
| Financial charges | 65/66B | €7,059 | €7,151 | +€92 | +1.3% |
| Recurring financial charges | 65 | €7,059 | €7,151 | +€92 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | -€109,925 | €85 | +€110,010 | |
| Profit (loss) for the period | 9904 | -€109,925 | €85 | +€110,010 | |
| Profit (loss) for the period to be appropriated | 9905 | -€109,925 | €85 | +€110,010 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.