BELGAL TRADE: what changed
BELGAL TRADE
Largest movements
- Cash +€1.6m
up €1.6m (+244%), from €669,394 to €2.3m
mainly Other debts (+€2.0m) and Receivables within one year (+€400,656)
- Receivables within one year -€400,656
down €400,656 (-11.9%), from €3.4m to €3.0m
of which Trade receivables: -€530,506
- Current investments +€114,103
new in 2025: €114,103
- Deferred charges and accrued income -€87,600
down €87,600 (-30.0%), from €292,071 to €204,471
- Other debts +€2.0m
up €2.0m (+912%), from €218,575 to €2.2m
- Trade debts -€424,151
down €424,151 (-17.0%), from €2.5m to €2.1m
- Advances received -€202,794
down €202,794 (-100%), from €202,794 to €0
- Tax, wage and social debts -€104,853
down €104,853 (-99.2%), from €105,676 to €823
- Accrued charges and deferred income -€87,988
down €87,988 (-30.1%), from €292,071 to €204,083
- Financial charges +€102,283
up €102,283 (+113%), from €90,741 to €193,024
- Taxes -€42,091
down €42,091 (-59.3%), from €70,976 to €28,885
- Financial income -€37,048
down €37,048 (-51.0%), from €72,578 to €35,529
- Gross operating margin -€32,282
down €32,282 (-10.0%), from €322,903 to €290,622
- Write-downs -€16,969
new in 2025: -€16,969
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,322,310 | €5,582,104 | +€1.3m | +29.1% |
| Fixed assets | 21/28 | €270 | €270 | = | 0.0% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €4,322,040 | €5,581,834 | +€1.3m | +29.1% |
| Amounts receivable within one year | 40/41 | €3,360,575 | €2,959,919 | -€400,656 | -11.9% |
| Trade receivables | 40 | €3,184,639 | €2,654,133 | -€530,506 | -16.7% |
| Other amounts receivable | 41 | €175,936 | €305,786 | +€129,850 | +73.8% |
| Current investments | 50/53 | - | €114,103 | +€114,103 | |
| Cash at bank and in hand | 54/58 | €669,394 | €2,303,341 | +€1.6m | +244% |
| Deferred charges and accrued income | 490/1 | €292,071 | €204,471 | -€87,600 | -30.0% |
| Total equity and liabilities | 10/49 | €4,322,310 | €5,582,104 | +€1.3m | +29.1% |
| Equity | 10/15 | €1,015,346 | €1,102,000 | +€86,654 | +8.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €905,346 | €992,000 | +€86,654 | +9.6% |
| Amounts payable | 17/49 | €3,306,964 | €4,480,104 | +€1.2m | +35.5% |
| Amounts payable within one year | 42/48 | €3,014,893 | €4,276,021 | +€1.3m | +41.8% |
| Trade debts | 44 | €2,487,849 | €2,063,698 | -€424,151 | -17.0% |
| Suppliers | 440/4 | €2,487,849 | €2,063,698 | -€424,151 | -17.0% |
| Advances received on contracts in progress | 46 | €202,794 | €0 | -€202,794 | -100% |
| Taxes, remuneration and social security | 45 | €105,676 | €823 | -€104,853 | -99.2% |
| Taxes | 450/3 | €105,676 | €823 | -€104,853 | -99.2% |
| Other amounts payable | 47/48 | €218,575 | €2,211,501 | +€2.0m | +912% |
| Accrued charges and deferred income | 492/3 | €292,071 | €204,083 | -€87,988 | -30.1% |
| Non-recurring operating income | 76A | €5,067 | €6,454 | +€1,388 | +27.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€16,969 | -€16,969 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €42,984 | €31,292 | -€11,692 | -27.2% |
| Other operating charges | 640/8 | €1,295 | €3,265 | +€1,970 | +152% |
| Gross operating margin | 9900 | €322,903 | €290,622 | -€32,282 | -10.0% |
| Operating profit (loss) | 9901 | €278,625 | €273,033 | -€5,591 | -2.0% |
| Financial income | 75/76B | €72,578 | €35,529 | -€37,048 | -51.0% |
| Recurring financial income | 75 | €72,578 | €35,529 | -€37,048 | -51.0% |
| Financial charges | 65/66B | €90,741 | €193,024 | +€102,283 | +113% |
| Recurring financial charges | 65 | €90,741 | €193,024 | +€102,283 | +113% |
| Profit (loss) for the period before taxes | 9903 | €260,461 | €115,539 | -€144,922 | -55.6% |
| Income taxes | 67/77 | €70,976 | €28,885 | -€42,091 | -59.3% |
| Profit (loss) for the period | 9904 | €189,485 | €86,654 | -€102,831 | -54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €189,485 | €86,654 | -€102,831 | -54.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.