BELFRESCA: 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
BELFRESCA
NACE 82.920, Office administrative, office support and other business support activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€901,007
2024 · €161,701+€739,305
Equity
€1.6m
2024 · €698,923+€901,007
Cash
€307
2024 · €174+€133
Balance sheet total
€7.3m
2024 · €6.0m+€1.2m
Largest movements
Assets
- Receivables within one year +€1.6m
up €1.6m (+54.5%), from €2.9m to €4.4m
of which Trade receivables: +€1.9m
- Stocks and contracts -€511,595
down €511,595 (-45.6%), from €1.1m to €610,652
- Tangible fixed assets +€198,768
up €198,768 (+9.8%), from €2.0m to €2.2m
of which Plant, machinery and equipment: +€242,584
Equity and liabilities
- Reserves +€901,007
up €901,007 (+132.5%), from €680,173 to €1.6m
of which Distributable reserves: +€901,007
- Short-term financial debts +€654,245
up €654,245 (+21.5%), from €3.0m to €3.7m
- Other debts -€444,503
down €444,503 (-100.0%), from €444,503 to €0
- Tax, wage and social debts +€168,274
up €168,274 (+147.2%), from €114,354 to €282,628
of which Taxes: +€120,622
Income statement
- Turnover +€1.5m
up €1.5m (+11.2%), from €13.3m to €14.8m
- Goods and materials +€634,432
up €634,432 (+9.6%), from €6.6m to €7.2m
of which Change in stocks: decrease (increase): +€847,941
- Taxes +€343,255
up €343,255 (+561.2%), from €61,163 to €404,418
- Services and other goods -€330,160
down €330,160 (-7.9%), from €4.2m to €3.8m
- Staff costs +€278,860
up €278,860 (+22.9%), from €1.2m to €1.5m
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
€161,701
Turnover
+€1.5m
Other operating income
+€9,685
Goods and materials
-€634,432
Services and other goods
+€330,160
Staff costs
-€278,860
Depreciation
-€69,723
Write-downs
-€158,454
Other operating charges
-€9,750
Other operating items
+€524,906
Financial income
-€31
Financial charges
-€123,438
Taxes
-€343,255
Result 2025
€901,007
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
+€183,065
Investment
-€837,176
Financing
+€654,245
Cash 2024
€174
From operations (derived)
+€183,065
Net result for the year
+€901,007
Depreciation
+€639,768
Stocks and contracts
+€511,595
Receivables within one year
-€1.6m
Deferred charges and accrued income
-€1,211
Trade debts
-€45,405
Tax, wage and social debts
+€168,274
Other debts
-€444,503
Accrued charges and deferred income
+€10,108
Investment (derived)
-€837,176
Investment in fixed assets (net)
-€837,176
Financing
+€654,245
Short-term financial debts
+€654,245
Cash 2025
€307
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,021,841 | €7,265,567 | +€1.2m | +20.7% |
| Fixed assets | 21/28 | €2,034,501 | €2,231,909 | +€197,408 | +9.7% |
| Intangible fixed assets | 21 | €4,017 | €2,657 | -€1,360 | -33.9% |
| Tangible fixed assets | 22/27 | €2,030,484 | €2,229,252 | +€198,768 | +9.8% |
| Plant, machinery and equipment | 23 | €1,407,034 | €1,649,618 | +€242,584 | +17.2% |
| Furniture and vehicles | 24 | €36,515 | €26,640 | -€9,875 | -27.0% |
| Other tangible fixed assets | 26 | €586,935 | €552,993 | -€33,941 | -5.8% |
| Current assets | 29/58 | €3,987,341 | €5,033,658 | +€1.0m | +26.2% |
| Stocks and contracts in progress | 3 | €1,122,247 | €610,652 | -€511,595 | -45.6% |
| Stocks | 30/36 | €1,122,247 | €610,652 | -€511,595 | -45.6% |
| Goods purchased for resale | 34 | €1,122,247 | €610,652 | -€511,595 | -45.6% |
| Amounts receivable within one year | 40/41 | €2,857,941 | €4,414,509 | +€1.6m | +54.5% |
| Trade receivables | 40 | €2,423,307 | €4,373,162 | +€1.9m | +80.5% |
| Other amounts receivable | 41 | €434,634 | €41,347 | -€393,287 | -90.5% |
| Cash at bank and in hand | 54/58 | €174 | €307 | +€133 | +76.9% |
| Deferred charges and accrued income | 490/1 | €6,979 | €8,190 | +€1,211 | +17.4% |
| Total equity and liabilities | 10/49 | €6,021,841 | €7,265,567 | +€1.2m | +20.7% |
| Equity | 10/15 | €698,923 | €1,599,930 | +€901,007 | +128.9% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €680,173 | €1,581,180 | +€901,007 | +132.5% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €678,298 | €1,579,305 | +€901,007 | +132.8% |
| Amounts payable | 17/49 | €5,322,918 | €5,665,637 | +€342,719 | +6.4% |
| Amounts payable within one year | 42/48 | €5,263,263 | €5,595,874 | +€332,611 | +6.3% |
| Financial debts | 43 | €3,039,051 | €3,693,296 | +€654,245 | +21.5% |
| Other loans | 439 | €3,039,051 | €3,693,296 | +€654,245 | +21.5% |
| Trade debts | 44 | €1,665,355 | €1,619,950 | -€45,405 | -2.7% |
| Suppliers | 440/4 | €1,665,355 | €1,619,950 | -€45,405 | -2.7% |
| Taxes, remuneration and social security | 45 | €114,354 | €282,628 | +€168,274 | +147.2% |
| Taxes | 450/3 | €2,679 | €123,301 | +€120,622 | +4503.3% |
| Remuneration and social security | 454/9 | €111,675 | €159,327 | +€47,652 | +42.7% |
| Other amounts payable | 47/48 | €444,503 | €0 | -€444,503 | -100.0% |
| Accrued charges and deferred income | 492/3 | €59,655 | €69,763 | +€10,108 | +16.9% |
| Operating income | 70/76A | €13,316,734 | €14,818,917 | +€1.5m | +11.3% |
| Turnover | 70 | €13,277,482 | €14,769,980 | +€1.5m | +11.2% |
| Other operating income | 74 | €39,252 | €48,937 | +€9,685 | +24.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €13,034,199 | €13,330,353 | +€296,153 | +2.3% |
| Goods for resale, raw materials and consumables | 60 | €6,610,510 | €7,244,942 | +€634,432 | +9.6% |
| Purchases | 600/8 | €7,004,083 | €6,790,574 | -€213,509 | -3.0% |
| Change in stocks: decrease (increase) | 609 | -€393,573 | €454,368 | +€847,941 | |
| Services and other goods | 61 | €4,180,115 | €3,849,955 | -€330,160 | -7.9% |
| Remuneration, social security and pensions | 62 | €1,215,175 | €1,494,035 | +€278,860 | +22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €570,045 | €639,768 | +€69,723 | +12.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€101,227 | €57,227 | +€158,454 | |
| Other operating charges | 640/8 | €34,676 | €44,426 | +€9,750 | +28.1% |
| Non-recurring operating charges | 66A | €524,906 | €0 | -€524,906 | -100.0% |
| Operating profit (loss) | 9901 | €282,535 | €1,488,565 | +€1.2m | +426.9% |
| Financial income | 75/76B | €212 | €181 | -€31 | -14.7% |
| Recurring financial income | 75 | €212 | €181 | -€31 | -14.7% |
| Income from current assets | 751 | €2 | €0 | -€2 | -100.0% |
| Other financial income | 752/9 | €210 | €181 | -€30 | -14.0% |
| Financial charges | 65/66B | €59,883 | €183,321 | +€123,438 | +206.1% |
| Recurring financial charges | 65 | €59,883 | €183,321 | +€123,438 | +206.1% |
| Debt charges | 650 | €58,786 | €182,788 | +€124,001 | +210.9% |
| Other financial charges | 652/9 | €1,097 | €533 | -€563 | -51.4% |
| Profit (loss) for the period before taxes | 9903 | €222,864 | €1,305,425 | +€1.1m | +485.7% |
| Income taxes | 67/77 | €61,163 | €404,418 | +€343,255 | +561.2% |
| Taxes | 670/3 | €61,163 | €404,418 | +€343,255 | +561.2% |
| Profit (loss) for the period | 9904 | €161,701 | €901,007 | +€739,305 | +457.2% |
| Profit (loss) for the period to be appropriated | 9905 | €161,701 | €901,007 | +€739,305 | +457.2% |
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 30 September 2026 via checked.be.