Bel'grains: 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.
Bel'grains
Largest movements
- Receivables within one year -€30,162
down €30,162 (-63.7%), from €47,318 to €17,156
of which Trade receivables: -€16,459
- Trade debts -€22,773
down €22,773 (-96.4%), from €23,622 to €849
- Other debts -€6,488
no longer reported in 2025 (was €6,488)
- Profit (loss) carried forward +€5,859
up €5,859 (+15.4%), from €38,134 to €43,994
- Tax, wage and social debts -€5,770
down €5,770 (-51.3%), from €11,257 to €5,487
of which Taxes: -€4,529
- Purchases and services -€146,779
no longer reported in 2025 (was €146,779)
- Gross operating margin -€23,467
down €23,467 (-44.9%), from €52,299 to €28,832
- Taxes -€4,494
down €4,494 (-65.1%), from €6,900 to €2,406
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.
Derived cash bridge
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €94,501 | €65,330 | -€29,171 | -30.9% |
| Formation expenses | 20 | €401 | €200 | -€200 | -50.0% |
| Fixed assets | 21/28 | - | €500 | +€500 | |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €94,100 | €64,629 | -€29,471 | -31.3% |
| Stocks and contracts in progress | 3 | €14,391 | €14,769 | +€378 | +2.6% |
| Stocks | 30/36 | €14,391 | €14,769 | +€378 | +2.6% |
| Amounts receivable within one year | 40/41 | €47,318 | €17,156 | -€30,162 | -63.7% |
| Trade receivables | 40 | €31,748 | €15,289 | -€16,459 | -51.8% |
| Other amounts receivable | 41 | €15,570 | €1,867 | -€13,703 | -88.0% |
| Cash at bank and in hand | 54/58 | €32,141 | €32,455 | +€314 | +1.0% |
| Deferred charges and accrued income | 490/1 | €250 | €250 | = | 0.0% |
| Total equity and liabilities | 10/49 | €94,501 | €65,330 | -€29,171 | -30.9% |
| Equity | 10/15 | €53,134 | €58,994 | +€5,859 | +11.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,134 | €43,994 | +€5,859 | +15.4% |
| Amounts payable | 17/49 | €41,367 | €6,336 | -€35,031 | -84.7% |
| Amounts payable within one year | 42/48 | €41,367 | €6,336 | -€35,031 | -84.7% |
| Trade debts | 44 | €23,622 | €849 | -€22,773 | -96.4% |
| Suppliers | 440/4 | €23,622 | €849 | -€22,773 | -96.4% |
| Taxes, remuneration and social security | 45 | €11,257 | €5,487 | -€5,770 | -51.3% |
| Taxes | 450/3 | €6,935 | €2,406 | -€4,529 | -65.3% |
| Remuneration and social security | 454/9 | €4,322 | €3,081 | -€1,241 | -28.7% |
| Other amounts payable | 47/48 | €6,488 | - | -€6,488 | |
| Goods, raw materials, services and sundry goods | 60/61 | €146,779 | - | -€146,779 | |
| Remuneration, social security and pensions | 62 | €19,984 | €19,890 | -€93 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €200 | €200 | = | 0.0% |
| Other operating charges | 640/8 | €448 | €453 | +€5 | +1.1% |
| Gross operating margin | 9900 | €52,299 | €28,832 | -€23,467 | -44.9% |
| Operating profit (loss) | 9901 | €31,667 | €8,289 | -€23,379 | -73.8% |
| Financial income | 75/76B | €0 | €19 | +€19 | +6,867% |
| Recurring financial income | 75 | €0 | €19 | +€19 | +6,867% |
| Financial charges | 65/66B | €86 | €42 | -€44 | -51.3% |
| Recurring financial charges | 65 | €86 | €42 | -€44 | -51.3% |
| Profit (loss) for the period before taxes | 9903 | €31,581 | €8,265 | -€23,316 | -73.8% |
| Income taxes | 67/77 | €6,900 | €2,406 | -€4,494 | -65.1% |
| Profit (loss) for the period | 9904 | €24,681 | €5,859 | -€18,822 | -76.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,681 | €5,859 | -€18,822 | -76.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.