BELGAVITRES: 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.
BELGAVITRES
Largest movements
- Cash -€15,762
down €15,762 (-34.0%), from €46,400 to €30,638
mainly Investment in fixed assets (net) (-€19,139) and Net result for the year (-€18,010)
- Tangible fixed assets +€6,597
up €6,597 (+16.6%), from €39,634 to €46,231
of which Furniture and vehicles: +€8,154
- Deferred charges and accrued income +€2,019
up €2,019 (+32.3%), from €6,253 to €8,272
- Receivables within one year +€1,964
up €1,964 (+11.3%), from €17,395 to €19,359
of which Trade receivables: +€2,019
- Financial fixed assets +€1,589
up €1,589 (+25.3%), from €6,269 to €7,857
- Trade debts +€10,018
up €10,018 (+97.5%), from €10,273 to €20,291
- Profit (loss) carried forward -€9,550
down €9,550, from €42 to -€9,508
- Reserves -€8,460
down €8,460 (-21.8%), from €38,770 to €30,310
- Current portion of long-term debt +€5,505
up €5,505 (+72.7%), from €7,572 to €13,076
- Tax, wage and social debts -€2,323
down €2,323 (-7.5%), from €31,025 to €28,702
of which Taxes: -€1,632
- Staff costs +€19,940
up €19,940 (+9.6%), from €206,687 to €226,627
- Gross operating margin -€8,570
down €8,570 (-3.7%), from €231,287 to €222,717
- Depreciation +€3,888
up €3,888 (+55.0%), from €7,065 to €10,953
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 | €115,950 | €112,357 | -€3,593 | -3.1% |
| Fixed assets | 21/28 | €45,903 | €54,088 | +€8,186 | +17.8% |
| Tangible fixed assets | 22/27 | €39,634 | €46,231 | +€6,597 | +16.6% |
| Plant, machinery and equipment | 23 | €433 | €193 | -€240 | -55.5% |
| Furniture and vehicles | 24 | €25,506 | €33,660 | +€8,154 | +32.0% |
| Other tangible fixed assets | 26 | €13,695 | €12,379 | -€1,316 | -9.6% |
| Financial fixed assets | 28 | €6,269 | €7,857 | +€1,589 | +25.3% |
| Current assets | 29/58 | €70,047 | €58,269 | -€11,779 | -16.8% |
| Amounts receivable within one year | 40/41 | €17,395 | €19,359 | +€1,964 | +11.3% |
| Trade receivables | 40 | €17,339 | €19,359 | +€2,019 | +11.6% |
| Other amounts receivable | 41 | €55 | - | -€55 | |
| Cash at bank and in hand | 54/58 | €46,400 | €30,638 | -€15,762 | -34.0% |
| Deferred charges and accrued income | 490/1 | €6,253 | €8,272 | +€2,019 | +32.3% |
| Total equity and liabilities | 10/49 | €115,950 | €112,357 | -€3,593 | -3.1% |
| Equity | 10/15 | €45,020 | €27,010 | -€18,010 | -40.0% |
| Contributions | 10/11 | €6,208 | €6,208 | = | 0.0% |
| Reserves | 13 | €38,770 | €30,310 | -€8,460 | -21.8% |
| Distributable reserves | 133 | €38,770 | €30,310 | -€8,460 | -21.8% |
| Profit (loss) carried forward | 14 | €42 | -€9,508 | -€9,550 | |
| Amounts payable | 17/49 | €70,929 | €85,347 | +€14,418 | +20.3% |
| Amounts payable after more than one year | 17 | €17,965 | €20,140 | +€2,175 | +12.1% |
| Financial debts | 170/4 | €17,965 | €20,140 | +€2,175 | +12.1% |
| Amounts payable within one year | 42/48 | €52,965 | €65,207 | +€12,243 | +23.1% |
| Current portion of amounts payable after more than one year | 42 | €7,572 | €13,076 | +€5,505 | +72.7% |
| Trade debts | 44 | €10,273 | €20,291 | +€10,018 | +97.5% |
| Suppliers | 440/4 | €10,273 | €20,291 | +€10,018 | +97.5% |
| Taxes, remuneration and social security | 45 | €31,025 | €28,702 | -€2,323 | -7.5% |
| Taxes | 450/3 | €9,577 | €7,946 | -€1,632 | -17.0% |
| Remuneration and social security | 454/9 | €21,448 | €20,756 | -€692 | -3.2% |
| Other amounts payable | 47/48 | €4,095 | €3,138 | -€957 | -23.4% |
| Remuneration, social security and pensions | 62 | €206,687 | €226,627 | +€19,940 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,065 | €10,953 | +€3,888 | +55.0% |
| Other operating charges | 640/8 | €1,267 | €640 | -€627 | -49.5% |
| Non-recurring operating charges | 66A | €1,010 | €375 | -€635 | -62.9% |
| Gross operating margin | 9900 | €231,287 | €222,717 | -€8,570 | -3.7% |
| Operating profit (loss) | 9901 | €15,259 | -€15,877 | -€31,137 | |
| Financial income | 75/76B | €2,374 | €188 | -€2,186 | -92.1% |
| Recurring financial income | 75 | €84 | €188 | +€104 | +124% |
| Non-recurring financial income | 76B | €2,290 | - | -€2,290 | |
| Financial charges | 65/66B | €1,563 | €2,109 | +€547 | +35.0% |
| Recurring financial charges | 65 | €1,563 | €2,109 | +€547 | +35.0% |
| Profit (loss) for the period before taxes | 9903 | €16,070 | -€17,799 | -€33,869 | |
| Income taxes | 67/77 | €1,584 | €212 | -€1,372 | -86.6% |
| Profit (loss) for the period | 9904 | €14,487 | -€18,010 | -€32,497 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,487 | -€18,010 | -€32,497 |
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 25 October 2026 via checked.be.