Belgo-Seeds: what changed
What changed
Belgo-Seeds
NACE 46.211, Wholesale trade
filed annual accounts (NBB)
Net result for the year
-€936,972
2024 · -€321,155-€615,817
Equity
-€426,368
2024 · €510,604-€936,972
Cash
€243,967
2024 · €16,052+€227,915
Balance sheet total
€865,167
2024 · €4.2m-€3.3m
Largest movements
Assets
- Tangible fixed assets -€3.7m
down €3.7m (-96.2%), from €3.8m to €147,037
- Cash +€227,915
up €227,915 (+1,420%), from €16,052 to €243,967
mainly Investment in fixed assets (net) (+€3.7m) and Depreciation (+€11,616)
- Receivables within one year +€110,711
up €110,711 (+85.9%), from €128,953 to €239,664
of which Trade receivables: +€111,009
Equity and liabilities
- Debts after one year -€1.3m
down €1.3m (-60.8%), from €2.1m to €807,750
- Profit (loss) carried forward -€936,972
down €936,972 (-466%), from -€200,983 to -€1.1m
- Short-term financial debts -€722,525
down €722,525 (-88.4%), from €817,525 to €95,000
- Current portion of long-term debt -€197,922
down €197,922 (-68.7%), from €287,922 to €90,000
- Trade debts -€161,413
down €161,413 (-35.3%), from €457,544 to €296,131
Income statement
- Depreciation -€241,550
down €241,550 (-95.4%), from €253,166 to €11,616
- Financial charges +€115,103
up €115,103 (+224%), from €51,375 to €166,478
- Gross operating margin -€91,810
down €91,810, from €19,962 to -€71,848
- Other operating charges -€32,023
down €32,023 (-80.3%), from €39,898 to €7,875
- Financial income -€743
down €743 (-20.7%), from €3,595 to €2,852
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.
Result 2024
-€321,155
Gross operating margin
-€91,810
Depreciation
+€241,550
Other operating charges
+€32,023
Other operating items
-€681,710
Financial income
-€743
Financial charges
-€115,103
Taxes
-€25
Result 2025
-€936,972
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€1.3m
Investment
+€3.7m
Financing
-€2.2m
Cash 2024
€16,052
From operations (derived)
-€1.3m
Net result for the year
-€936,972
Depreciation
+€11,616
Receivables after one year
-€22,959
Receivables within one year
-€110,711
Deferred charges and accrued income
+€8,169
Trade debts
-€161,413
Tax, wage and social debts
-€41,913
Other debts
-€29,305
Investment (derived)
+€3.7m
Investment in fixed assets (net)
+€3.7m
Financing
-€2.2m
Debts after one year
-€1.3m
Current portion of long-term debt
-€197,922
Short-term financial debts
-€722,525
Cash 2025
€243,967
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,210,206 | €865,167 | -€3.3m | -79.5% |
| Fixed assets | 21/28 | €3,845,493 | €147,037 | -€3.7m | -96.2% |
| Tangible fixed assets | 22/27 | €3,845,493 | €147,037 | -€3.7m | -96.2% |
| Land and buildings | 22 | €1,591,018 | - | -€1.6m | |
| Plant, machinery and equipment | 23 | €315,386 | - | -€315,386 | |
| Furniture and vehicles | 24 | €97,579 | €12,025 | -€85,554 | -87.7% |
| Other tangible fixed assets | 26 | €1,841,511 | €135,012 | -€1.7m | -92.7% |
| Current assets | 29/58 | €364,713 | €718,130 | +€353,417 | +96.9% |
| Amounts receivable after more than one year | 29 | €0 | €22,959 | +€22,959 | |
| Other amounts receivable | 291 | €0 | €22,959 | +€22,959 | |
| Amounts receivable within one year | 40/41 | €128,953 | €239,664 | +€110,711 | +85.9% |
| Trade receivables | 40 | €106,347 | €217,356 | +€111,009 | +104% |
| Other amounts receivable | 41 | €22,606 | €22,308 | -€298 | -1.3% |
| Current investments | 50/53 | €208,265 | €208,265 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €16,052 | €243,967 | +€227,915 | +1,420% |
| Deferred charges and accrued income | 490/1 | €11,442 | €3,273 | -€8,169 | -71.4% |
| Total equity and liabilities | 10/49 | €4,210,206 | €865,167 | -€3.3m | -79.5% |
| Equity | 10/15 | €510,604 | -€426,368 | -€936,972 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €705,387 | €705,387 | = | 0.0% |
| Tax-exempt reserves | 132 | €106,062 | €106,062 | = | 0.0% |
| Distributable reserves | 133 | €599,325 | €599,325 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€200,983 | -€1,137,955 | -€936,972 | -466% |
| Amounts payable | 17/49 | €3,699,602 | €1,291,535 | -€2.4m | -65.1% |
| Amounts payable after more than one year | 17 | €2,062,738 | €807,750 | -€1.3m | -60.8% |
| Financial debts | 170/4 | €2,062,738 | €807,750 | -€1.3m | -60.8% |
| Amounts payable within one year | 42/48 | €1,636,864 | €483,785 | -€1.2m | -70.4% |
| Current portion of amounts payable after more than one year | 42 | €287,922 | €90,000 | -€197,922 | -68.7% |
| Financial debts | 43 | €817,525 | €95,000 | -€722,525 | -88.4% |
| Credit institutions | 430/8 | €817,525 | €95,000 | -€722,525 | -88.4% |
| Trade debts | 44 | €457,544 | €296,131 | -€161,413 | -35.3% |
| Suppliers | 440/4 | €457,544 | €296,131 | -€161,413 | -35.3% |
| Taxes, remuneration and social security | 45 | €43,974 | €2,061 | -€41,913 | -95.3% |
| Taxes | 450/3 | €43,974 | €2,061 | -€41,913 | -95.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €29,898 | €594 | -€29,305 | -98.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | €126,694 | +€126,694 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €253,166 | €11,616 | -€241,550 | -95.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €39,898 | €7,875 | -€32,023 | -80.3% |
| Non-recurring operating charges | 66A | €0 | €681,710 | +€681,710 | |
| Gross operating margin | 9900 | €19,962 | -€71,848 | -€91,810 | |
| Operating profit (loss) | 9901 | -€273,103 | -€773,049 | -€499,946 | -183% |
| Financial income | 75/76B | €3,595 | €2,852 | -€743 | -20.7% |
| Recurring financial income | 75 | €3,595 | €2,852 | -€743 | -20.7% |
| Financial charges | 65/66B | €51,375 | €166,478 | +€115,103 | +224% |
| Recurring financial charges | 65 | €51,375 | €166,478 | +€115,103 | +224% |
| Profit (loss) for the period before taxes | 9903 | -€320,883 | -€936,675 | -€615,792 | -192% |
| Income taxes | 67/77 | €273 | €298 | +€25 | +9.1% |
| Profit (loss) for the period | 9904 | -€321,155 | -€936,972 | -€615,817 | -192% |
| Profit (loss) for the period to be appropriated | 9905 | -€321,155 | -€936,972 | -€615,817 | -192% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.