BEL MEAT: 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 MEAT
Largest movements
- Tangible fixed assets -€45,372
down €45,372 (-39.7%), from €114,201 to €68,830
of which Other tangible fixed assets: -€34,100
- Receivables within one year +€14,763
up €14,763 (+140%), from €10,573 to €25,335
of which Trade receivables: +€15,091
- Cash -€3,110
down €3,110 (-100%), from €3,110 to €0
mainly Net result for the year (-€64,946) and Receivables within one year (-€14,763)
- Profit (loss) carried forward -€37,410
down €37,410 (-17.2%), from -€217,405 to -€254,815
- Reserves -€27,536
down €27,536 (-60.7%), from €45,379 to €17,844
- Other debts +€17,425
up €17,425 (+14.2%), from €122,923 to €140,348
- Tax, wage and social debts +€14,181
up €14,181 (+55.5%), from €25,573 to €39,755
of which Remuneration and social security: +€12,408
- Current portion of long-term debt +€9,698
new in 2025: €9,698
- Gross operating margin +€52,612
up €52,612 (+36.1%), from €145,566 to €198,178
- Staff costs +€51,763
up €51,763 (+30.8%), from €168,193 to €219,956
- Other operating charges +€3,300
up €3,300 (+168%), from €1,962 to €5,263
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 | €136,147 | €102,600 | -€33,547 | -24.6% |
| Fixed assets | 21/28 | €114,201 | €68,830 | -€45,372 | -39.7% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €114,201 | €68,830 | -€45,372 | -39.7% |
| Land and buildings | 22 | €402 | €35 | -€366 | -91.2% |
| Plant, machinery and equipment | 23 | €30,313 | €21,051 | -€9,262 | -30.6% |
| Furniture and vehicles | 24 | €4,295 | €2,651 | -€1,643 | -38.3% |
| Other tangible fixed assets | 26 | €79,192 | €45,092 | -€34,100 | -43.1% |
| Current assets | 29/58 | €21,946 | €33,770 | +€11,824 | +53.9% |
| Stocks and contracts in progress | 3 | €4,529 | €4,403 | -€126 | -2.8% |
| Stocks | 30/36 | €4,529 | €4,403 | -€126 | -2.8% |
| Amounts receivable within one year | 40/41 | €10,573 | €25,335 | +€14,763 | +140% |
| Trade receivables | 40 | €10,244 | €25,335 | +€15,091 | +147% |
| Other amounts receivable | 41 | €328 | €0 | -€328 | -100% |
| Cash at bank and in hand | 54/58 | €3,110 | €0 | -€3,110 | -100% |
| Deferred charges and accrued income | 490/1 | €3,735 | €4,032 | +€297 | +7.9% |
| Total equity and liabilities | 10/49 | €136,147 | €102,600 | -€33,547 | -24.6% |
| Equity | 10/15 | -€72,276 | -€137,221 | -€64,946 | -89.9% |
| Contributions | 10/11 | €99,750 | €99,750 | = | 0.0% |
| Capital | 10 | - | €99,750 | +€99,750 | |
| Issued capital | 100 | - | €99,750 | +€99,750 | |
| Reserves | 13 | €45,379 | €17,844 | -€27,536 | -60.7% |
| Tax-exempt reserves | 132 | €45,379 | €17,844 | -€27,536 | -60.7% |
| Profit (loss) carried forward | 14 | -€217,405 | -€254,815 | -€37,410 | -17.2% |
| Provisions and deferred taxes | 16 | €15,126 | €5,948 | -€9,179 | -60.7% |
| Deferred taxes | 168 | €15,126 | €5,948 | -€9,179 | -60.7% |
| Amounts payable | 17/49 | €193,297 | €233,874 | +€40,577 | +21.0% |
| Amounts payable within one year | 42/48 | €193,297 | €233,874 | +€40,577 | +21.0% |
| Current portion of amounts payable after more than one year | 42 | - | €9,698 | +€9,698 | |
| Trade debts | 44 | €44,800 | €44,073 | -€728 | -1.6% |
| Suppliers | 440/4 | €44,800 | €44,073 | -€728 | -1.6% |
| Taxes, remuneration and social security | 45 | €25,573 | €39,755 | +€14,181 | +55.5% |
| Taxes | 450/3 | €2,228 | €4,001 | +€1,774 | +79.6% |
| Remuneration and social security | 454/9 | €23,345 | €35,753 | +€12,408 | +53.1% |
| Other amounts payable | 47/48 | €122,923 | €140,348 | +€17,425 | +14.2% |
| Remuneration, social security and pensions | 62 | €168,193 | €219,956 | +€51,763 | +30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,372 | €45,372 | = | 0.0% |
| Other operating charges | 640/8 | €1,962 | €5,263 | +€3,300 | +168% |
| Gross operating margin | 9900 | €145,566 | €198,178 | +€52,612 | +36.1% |
| Operating profit (loss) | 9901 | -€69,962 | -€72,412 | -€2,451 | -3.5% |
| Financial income | 75/76B | €2 | €5 | +€3 | +132% |
| Recurring financial income | 75 | €2 | €5 | +€3 | +132% |
| Financial charges | 65/66B | €1,428 | €1,717 | +€289 | +20.2% |
| Recurring financial charges | 65 | €1,428 | €1,717 | +€289 | +20.2% |
| Profit (loss) for the period before taxes | 9903 | -€71,387 | -€74,124 | -€2,737 | -3.8% |
| Transfer from deferred taxes | 780 | €9,179 | €9,179 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€62,209 | -€64,946 | -€2,737 | -4.4% |
| Transfer from tax-exempt reserves | 789 | €27,536 | €27,536 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,673 | -€37,410 | -€2,737 | -7.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.