BELAGRI: 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.
BELAGRI
Largest movements
- Tangible fixed assets +€244,585
up €244,585 (+84.2%), from €290,504 to €535,089
- Current investments +€120,000
new in 2025: €120,000
- Cash +€83,414
up €83,414 (+529%), from €15,782 to €99,196
mainly Net result for the year (+€169,990) and Debts after one year (+€153,250)
- Receivables within one year -€31,084
down €31,084 (-49.8%), from €62,422 to €31,338
of which Trade receivables: -€43,095
- Profit (loss) carried forward +€170,813
up €170,813 (+357%), from €47,785 to €218,597
- Debts after one year +€153,250
up €153,250 (+66.6%), from €230,000 to €383,250
- Current portion of long-term debt +€63,000
up €63,000 (+140%), from €45,000 to €108,000
- Short-term financial debts +€40,000
new in 2025: €40,000
- Trade debts -€16,469
down €16,469 (-29.0%), from €56,701 to €40,231
- Gross operating margin +€242,754
up €242,754 (+427%), from €56,804 to €299,558
- Taxes +€42,627
new in 2025: €42,627
- Depreciation +€22,112
up €22,112 (+41.1%), from €53,816 to €75,928
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €399,780 | €811,284 | +€411,504 | +103% |
| Fixed assets | 21/28 | €290,504 | €535,089 | +€244,585 | +84.2% |
| Tangible fixed assets | 22/27 | €290,504 | €535,089 | +€244,585 | +84.2% |
| Plant, machinery and equipment | 23 | €290,504 | €535,089 | +€244,585 | +84.2% |
| Current assets | 29/58 | €109,276 | €276,195 | +€166,919 | +153% |
| Stocks and contracts in progress | 3 | €28,234 | €22,704 | -€5,530 | -19.6% |
| Stocks | 30/36 | €28,234 | €22,704 | -€5,530 | -19.6% |
| Amounts receivable within one year | 40/41 | €62,422 | €31,338 | -€31,084 | -49.8% |
| Trade receivables | 40 | €50,500 | €7,405 | -€43,095 | -85.3% |
| Other amounts receivable | 41 | €11,922 | €23,933 | +€12,011 | +101% |
| Current investments | 50/53 | - | €120,000 | +€120,000 | |
| Cash at bank and in hand | 54/58 | €15,782 | €99,196 | +€83,414 | +529% |
| Deferred charges and accrued income | 490/1 | €2,839 | €2,957 | +€119 | +4.2% |
| Total equity and liabilities | 10/49 | €399,780 | €811,284 | +€411,504 | +103% |
| Equity | 10/15 | €66,664 | €236,654 | +€169,990 | +255% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €12,682 | €11,859 | -€823 | -6.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €823 | - | -€823 | |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,785 | €218,597 | +€170,813 | +357% |
| Provisions and deferred taxes | 16 | €274 | - | -€274 | |
| Deferred taxes | 168 | €274 | - | -€274 | |
| Amounts payable | 17/49 | €332,842 | €574,630 | +€241,789 | +72.6% |
| Amounts payable after more than one year | 17 | €230,000 | €383,250 | +€153,250 | +66.6% |
| Financial debts | 170/4 | €230,000 | €383,250 | +€153,250 | +66.6% |
| Amounts payable within one year | 42/48 | €102,775 | €189,306 | +€86,531 | +84.2% |
| Current portion of amounts payable after more than one year | 42 | €45,000 | €108,000 | +€63,000 | +140% |
| Financial debts | 43 | - | €40,000 | +€40,000 | |
| Credit institutions | 430/8 | - | €40,000 | +€40,000 | |
| Trade debts | 44 | €56,701 | €40,231 | -€16,469 | -29.0% |
| Suppliers | 440/4 | €56,701 | €40,231 | -€16,469 | -29.0% |
| Taxes, remuneration and social security | 45 | €56 | €56 | = | 0.0% |
| Taxes | 450/3 | €56 | €56 | = | 0.0% |
| Other amounts payable | 47/48 | €1,019 | €1,019 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €66 | €2,075 | +€2,008 | +3,030% |
| Non-recurring operating income | 76A | €22,731 | €146,146 | +€123,415 | +543% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,816 | €75,928 | +€22,112 | +41.1% |
| Other operating charges | 640/8 | €387 | €426 | +€38 | +9.9% |
| Gross operating margin | 9900 | €56,804 | €299,558 | +€242,754 | +427% |
| Operating profit (loss) | 9901 | €2,601 | €223,204 | +€220,603 | +8,481% |
| Financial income | 75/76B | €27 | €79 | +€52 | +192% |
| Recurring financial income | 75 | €27 | €79 | +€52 | +192% |
| Financial charges | 65/66B | €12,158 | €10,941 | -€1,217 | -10.0% |
| Recurring financial charges | 65 | €12,158 | €10,941 | -€1,217 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,530 | €212,342 | +€221,872 | |
| Transfer from deferred taxes | 780 | €275 | €274 | -€1 | -0.3% |
| Income taxes | 67/77 | - | €42,627 | +€42,627 | |
| Profit (loss) for the period | 9904 | -€9,255 | €169,990 | +€179,245 | |
| Transfer from tax-exempt reserves | 789 | €825 | €823 | -€2 | -0.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,430 | €170,813 | +€179,243 |
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 18 October 2026 via checked.be.