BELCROP: 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
BELCROP
NACE 20.200, Manufacture of chemicals and chemical products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€318,336
2024 · -€506,433+€824,770
Equity
€3.5m
2024 · €3.2m+€318,336
Cash
€9,296
2024 · €67,378-€58,081
Balance sheet total
€4.9m
2024 · €4.3m+€675,101
Largest movements
Assets
- Receivables within one year +€1.1m
up €1.1m (+64.3%), from €1.7m to €2.8m
of which Trade receivables: +€838,146
- Stocks and contracts -€371,580
down €371,580 (-15.0%), from €2.5m to €2.1m
- Cash -€58,081
down €58,081 (-86.2%), from €67,378 to €9,296
mainly Receivables within one year (-€1.1m) and Short-term financial debts (-€413,051)
Equity and liabilities
- Trade debts +€896,453
up €896,453 (+182.1%), from €492,254 to €1.4m
- Short-term financial debts -€413,051
down €413,051 (-99.4%), from €415,693 to €2,642
- Reserves +€318,336
up €318,336 (+10.2%), from €3.1m to €3.5m
- Provisions -€80,000
down €80,000 (-81.0%), from €98,750 to €18,750
Income statement
- Turnover -€3.2m
down €3.2m (-33.9%), from €9.6m to €6.3m
- Goods and materials -€2.2m
down €2.2m (-28.0%), from €7.9m to €5.7m
of which Purchases: -€1.9m
- Write-downs -€234,595
down €234,595, from €84,390 to -€150,205
- Provisions -€178,750
down €178,750, from €98,750 to -€80,000
- Financial charges -€108,556
down €108,556 (-96.2%), from €112,867 to €4,311
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
-€506,433
Turnover
-€3.2m
Other operating income
+€8,112
Goods and materials
+€2.2m
Services and other goods
-€9,531
Staff costs
+€52,803
Write-downs
+€234,595
Provisions
+€178,750
Other operating charges
+€3,131
Other operating items
+€1.3m
Financial income
-€9,844
Financial charges
+€108,556
Taxes
-€11,535
Result 2025
€318,336
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
+€354,970
Investment
€0
Financing
-€413,051
Cash 2024
€67,378
From operations (derived)
+€354,970
Net result for the year
+€318,336
Stocks and contracts
+€371,580
Receivables within one year
-€1.1m
Deferred charges and accrued income
+€523
Provisions
-€80,000
Trade debts
+€896,453
Tax, wage and social debts
-€20,009
Accrued charges and deferred income
-€26,628
Financing
-€413,051
Short-term financial debts
-€413,051
Cash 2025
€9,296
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,264,170 | €4,939,271 | +€675,101 | +15.8% |
| Current assets | 29/58 | €4,264,170 | €4,939,271 | +€675,101 | +15.8% |
| Stocks and contracts in progress | 3 | €2,477,813 | €2,106,233 | -€371,580 | -15.0% |
| Stocks | 30/36 | €2,477,813 | €2,106,233 | -€371,580 | -15.0% |
| Raw materials and consumables | 30/31 | €1,062,702 | €869,823 | -€192,879 | -18.1% |
| Work in progress | 32 | €55,483 | €41,928 | -€13,555 | -24.4% |
| Finished goods | 33 | €604,958 | €846,546 | +€241,589 | +39.9% |
| Goods purchased for resale | 34 | €754,671 | €347,936 | -€406,735 | -53.9% |
| Amounts receivable within one year | 40/41 | €1,718,457 | €2,823,741 | +€1.1m | +64.3% |
| Trade receivables | 40 | €1,612,565 | €2,450,711 | +€838,146 | +52.0% |
| Other amounts receivable | 41 | €105,892 | €373,031 | +€267,139 | +252.3% |
| Cash at bank and in hand | 54/58 | €67,378 | €9,296 | -€58,081 | -86.2% |
| Deferred charges and accrued income | 490/1 | €523 | - | -€523 | |
| Total equity and liabilities | 10/49 | €4,264,170 | €4,939,271 | +€675,101 | +15.8% |
| Equity | 10/15 | €3,193,268 | €3,511,604 | +€318,336 | +10.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €3,131,768 | €3,450,104 | +€318,336 | +10.2% |
| Distributable reserves | 133 | €3,131,768 | €3,450,104 | +€318,336 | +10.2% |
| Provisions and deferred taxes | 16 | €98,750 | €18,750 | -€80,000 | -81.0% |
| Provisions for liabilities and charges | 160/5 | €98,750 | €18,750 | -€80,000 | -81.0% |
| Other liabilities and charges | 164/5 | €98,750 | €18,750 | -€80,000 | -81.0% |
| Amounts payable | 17/49 | €972,152 | €1,408,916 | +€436,764 | +44.9% |
| Amounts payable within one year | 42/48 | €945,524 | €1,408,916 | +€463,392 | +49.0% |
| Financial debts | 43 | €415,693 | €2,642 | -€413,051 | -99.4% |
| Other loans | 439 | €415,693 | €2,642 | -€413,051 | -99.4% |
| Trade debts | 44 | €492,254 | €1,388,707 | +€896,453 | +182.1% |
| Suppliers | 440/4 | €492,254 | €1,388,707 | +€896,453 | +182.1% |
| Taxes, remuneration and social security | 45 | €37,577 | €17,568 | -€20,009 | -53.2% |
| Taxes | 450/3 | €7,803 | €3,104 | -€4,699 | -60.2% |
| Remuneration and social security | 454/9 | €29,774 | €14,463 | -€15,310 | -51.4% |
| Accrued charges and deferred income | 492/3 | €26,628 | - | -€26,628 | |
| Operating income | 70/76A | €8,350,978 | €6,417,258 | -€1.9m | -23.2% |
| Turnover | 70 | €9,560,746 | €6,315,900 | -€3.2m | -33.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€1,225,185 | €77,829 | +€1.3m | |
| Other operating income | 74 | €15,417 | €23,529 | +€8,112 | +52.6% |
| Operating charges | 60/66A | €8,768,140 | €6,096,827 | -€2.7m | -30.5% |
| Goods for resale, raw materials and consumables | 60 | €7,904,348 | €5,692,783 | -€2.2m | -28.0% |
| Purchases | 600/8 | €6,994,527 | €5,093,169 | -€1.9m | -27.2% |
| Change in stocks: decrease (increase) | 609 | €909,820 | €599,614 | -€310,207 | -34.1% |
| Services and other goods | 61 | €501,772 | €511,302 | +€9,531 | +1.9% |
| Remuneration, social security and pensions | 62 | €174,540 | €121,737 | -€52,803 | -30.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €84,390 | -€150,205 | -€234,595 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €98,750 | -€80,000 | -€178,750 | |
| Other operating charges | 640/8 | €4,340 | €1,210 | -€3,131 | -72.1% |
| Operating profit (loss) | 9901 | -€417,161 | €320,431 | +€737,593 | |
| Financial income | 75/76B | €23,841 | €13,997 | -€9,844 | -41.3% |
| Recurring financial income | 75 | €23,841 | €13,997 | -€9,844 | -41.3% |
| Income from current assets | 751 | - | €8,667 | +€8,667 | |
| Other financial income | 752/9 | €23,841 | €5,330 | -€18,511 | -77.6% |
| Financial charges | 65/66B | €112,867 | €4,311 | -€108,556 | -96.2% |
| Recurring financial charges | 65 | €112,867 | €4,311 | -€108,556 | -96.2% |
| Debt charges | 650 | €88,547 | €1,469 | -€87,079 | -98.3% |
| Other financial charges | 652/9 | €24,320 | €2,842 | -€21,478 | -88.3% |
| Profit (loss) for the period before taxes | 9903 | -€506,187 | €330,118 | +€836,305 | |
| Income taxes | 67/77 | €246 | €11,781 | +€11,535 | +4693.8% |
| Taxes | 670/3 | €246 | €11,781 | +€11,535 | +4693.8% |
| Profit (loss) for the period | 9904 | -€506,433 | €318,336 | +€824,770 | |
| Profit (loss) for the period to be appropriated | 9905 | -€506,433 | €318,336 | +€824,770 |
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 8 October 2026 via checked.be.