Belgian Feed Association: 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.
What changed
Belgian Feed Association
NACE 94.120, Activities of professional membership organisations
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€16,701
2024 · €51,783-€35,082
Equity
€2.1m
2024 · €2.0m+€16,701
Cash
€998,016
2024 · €437,773+€560,243
Balance sheet total
€5.0m
2024 · €4.9m+€147,388
Largest movements
Assets
- Cash +€560,243
up €560,243 (+128%), from €437,773 to €998,016
mainly Debts within one year (+€407,590) and Receivables within one year (+€200,888)
- Receivables within one year -€200,888
down €200,888 (-14.4%), from €1.4m to €1.2m
of which Trade receivables: -€242,527
- Current investments -€148,921
down €148,921 (-10.5%), from €1.4m to €1.3m
Equity and liabilities
- Debts within one year +€407,590
up €407,590 (+24.9%), from €1.6m to €2.0m
- Provisions -€216,236
down €216,236 (-22.1%), from €978,209 to €761,973
- Debts after one year -€60,000
down €60,000 (-33.3%), from €180,000 to €120,000
Income statement
- Gross operating margin -€198,659
down €198,659 (-15.7%), from €1.3m to €1.1m
- Other operating charges +€84,496
up €84,496 (+209%), from €40,344 to €124,839
- Staff costs +€77,633
up €77,633 (+7.8%), from €990,650 to €1.1m
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
€51,783
Gross operating margin
-€198,659
Staff costs
-€77,633
Depreciation
+€11,539
Other operating charges
-€84,496
Other operating items
+€306,236
Financial income
+€5,603
Financial charges
+€648
Taxes
+€1,679
Result 2025
€16,701
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€513,952
Investment
+€106,291
Financing
-€60,000
Cash 2024
€437,773
From operations (derived)
+€513,952
Net result for the year
+€16,701
Depreciation
+€91,542
Receivables within one year
+€200,888
Deferred charges and accrued income
+€14,134
Provisions
-€216,236
Debts within one year
+€407,590
Accrued charges and deferred income
-€667
Investment (derived)
+€106,291
Investment in fixed assets (net)
-€42,631
Current investments
+€148,921
Financing
-€60,000
Debts after one year
-€60,000
Cash 2025
€998,016
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,864,406 | €5,011,794 | +€147,388 | +3.0% |
| Fixed assets | 21/28 | €1,576,070 | €1,527,158 | -€48,912 | -3.1% |
| Intangible fixed assets | 21 | €34,055 | €18,224 | -€15,831 | -46.5% |
| Tangible fixed assets | 22/27 | €1,539,872 | €1,506,791 | -€33,081 | -2.1% |
| Land and buildings | 22 | €1,471,818 | €1,423,788 | -€48,030 | -3.3% |
| Plant, machinery and equipment | 23 | €12,577 | €7,500 | -€5,077 | -40.4% |
| Furniture and vehicles | 24 | €43,462 | €36,107 | -€7,355 | -16.9% |
| Assets under construction and advance payments | 27 | €12,016 | €39,396 | +€27,381 | +228% |
| Financial fixed assets | 28 | €2,143 | €2,143 | = | 0.0% |
| Current assets | 29/58 | €3,288,336 | €3,484,636 | +€196,300 | +6.0% |
| Amounts receivable within one year | 40/41 | €1,394,337 | €1,193,449 | -€200,888 | -14.4% |
| Trade receivables | 40 | €1,008,604 | €766,077 | -€242,527 | -24.0% |
| Other amounts receivable | 41 | €385,733 | €427,372 | +€41,639 | +10.8% |
| Current investments | 50/53 | €1,412,367 | €1,263,445 | -€148,921 | -10.5% |
| Cash at bank and in hand | 54/58 | €437,773 | €998,016 | +€560,243 | +128% |
| Deferred charges and accrued income | 490/1 | €43,860 | €29,725 | -€14,134 | -32.2% |
| Total equity and liabilities | 10/49 | €4,864,406 | €5,011,794 | +€147,388 | +3.0% |
| Equity | 10/15 | €2,035,033 | €2,051,735 | +€16,701 | +0.8% |
| Contributions | 10/11 | €322,513 | €322,513 | = | 0.0% |
| Capital | 10 | €322,513 | €322,513 | = | 0.0% |
| Reserves | 13 | €1,184 | €1,184 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,711,336 | €1,728,037 | +€16,701 | +1.0% |
| Provisions and deferred taxes | 16 | €978,209 | €761,973 | -€216,236 | -22.1% |
| Provisions for liabilities and charges | 160/5 | €978,209 | €761,973 | -€216,236 | -22.1% |
| Major repairs and maintenance | 162 | €41,973 | €41,973 | = | 0.0% |
| Other liabilities and charges | 164/5 | €936,236 | €720,000 | -€216,236 | -23.1% |
| Amounts payable | 17/49 | €1,851,163 | €2,198,086 | +€346,923 | +18.7% |
| Amounts payable after more than one year | 17 | €180,000 | €120,000 | -€60,000 | -33.3% |
| Financial debts | 170/4 | €180,000 | €120,000 | -€60,000 | -33.3% |
| Amounts payable within one year | 42/48 | €1,636,197 | €2,043,786 | +€407,590 | +24.9% |
| Current portion of amounts payable after more than one year | 42 | €60,000 | €60,000 | = | 0.0% |
| Trade debts | 44 | €139,581 | €188,484 | +€48,903 | +35.0% |
| Suppliers | 440/4 | €139,581 | €188,484 | +€48,903 | +35.0% |
| Taxes, remuneration and social security | 45 | €215,074 | €128,264 | -€86,811 | -40.4% |
| Taxes | 450/3 | €112,399 | €18,354 | -€94,045 | -83.7% |
| Remuneration and social security | 454/9 | €102,675 | €109,910 | +€7,235 | +7.0% |
| Accrued charges and deferred income | 492/3 | €34,967 | €34,300 | -€667 | -1.9% |
| Remuneration, social security and pensions | 62 | €990,650 | €1,068,283 | +€77,633 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,081 | €91,542 | -€11,539 | -11.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €40,344 | €124,839 | +€84,496 | +209% |
| Gross operating margin | 9900 | €1,265,650 | €1,066,991 | -€198,659 | -15.7% |
| Operating profit (loss) | 9901 | €41,574 | -€1,439 | -€43,013 | |
| Financial income | 75/76B | €26,033 | €31,637 | +€5,603 | +21.5% |
| Recurring financial income | 75 | €26,033 | €31,637 | +€5,603 | +21.5% |
| Financial charges | 65/66B | €4,685 | €4,037 | -€648 | -13.8% |
| Recurring financial charges | 65 | €4,685 | €4,037 | -€648 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €62,923 | €26,162 | -€36,762 | -58.4% |
| Income taxes | 67/77 | €11,140 | €9,461 | -€1,679 | -15.1% |
| Profit (loss) for the period | 9904 | €51,783 | €16,701 | -€35,082 | -67.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,783 | €16,701 | -€35,082 | -67.7% |
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 14 October 2026 via checked.be.