BELGOPLAST: 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.
BELGOPLAST
Largest movements
- Cash +€252,880
up €252,880 (+42.5%), from €594,885 to €847,765
mainly Net result for the year (+€242,234) and Depreciation (+€169,444)
- Receivables within one year -€146,680
down €146,680 (-16.5%), from €887,760 to €741,080
of which Trade receivables: -€179,727
- Stocks and contracts +€57,550
up €57,550 (+7.9%), from €725,076 to €782,626
- Tangible fixed assets -€50,354
down €50,354 (-6.9%), from €727,612 to €677,259
of which Plant, machinery and equipment: -€88,764
- Trade debts +€121,000
up €121,000 (+33.2%), from €364,942 to €485,942
- Staff costs -€66,638
down €66,638 (-9.2%), from €726,028 to €659,389
- Taxes +€52,285
up €52,285 (+155%), from €33,774 to €86,058
- Gross operating margin +€28,672
up €28,672 (+2.4%), from €1.2m to €1.2m
- Other operating charges -€15,663
down €15,663 (-39.2%), from €39,983 to €24,321
- Financial income +€15,653
up €15,653 (+278%), from €5,621 to €21,274
of which Non-recurring financial income: +€14,197
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 | €2,940,209 | €3,062,986 | +€122,777 | +4.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €731,330 | €682,565 | -€48,765 | -6.7% |
| Intangible fixed assets | 21 | €3,529 | €5,118 | +€1,589 | +45.0% |
| Tangible fixed assets | 22/27 | €727,612 | €677,259 | -€50,354 | -6.9% |
| Land and buildings | 22 | €33,231 | €29,595 | -€3,636 | -10.9% |
| Plant, machinery and equipment | 23 | €579,385 | €490,621 | -€88,764 | -15.3% |
| Furniture and vehicles | 24 | €74,432 | €109,862 | +€35,430 | +47.6% |
| Other tangible fixed assets | 26 | €40,565 | €47,182 | +€6,616 | +16.3% |
| Financial fixed assets | 28 | €189 | €189 | = | 0.0% |
| Current assets | 29/58 | €2,208,879 | €2,380,421 | +€171,542 | +7.8% |
| Stocks and contracts in progress | 3 | €725,076 | €782,626 | +€57,550 | +7.9% |
| Stocks | 30/36 | €725,076 | €782,626 | +€57,550 | +7.9% |
| Amounts receivable within one year | 40/41 | €887,760 | €741,080 | -€146,680 | -16.5% |
| Trade receivables | 40 | €864,672 | €684,946 | -€179,727 | -20.8% |
| Other amounts receivable | 41 | €23,088 | €56,134 | +€33,046 | +143% |
| Cash at bank and in hand | 54/58 | €594,885 | €847,765 | +€252,880 | +42.5% |
| Deferred charges and accrued income | 490/1 | €1,157 | €8,949 | +€7,792 | +673% |
| Total equity and liabilities | 10/49 | €2,940,209 | €3,062,986 | +€122,777 | +4.2% |
| Equity | 10/15 | €1,890,023 | €1,908,359 | +€18,336 | +1.0% |
| Contributions | 10/11 | €383,815 | €383,815 | = | 0.0% |
| Reserves | 13 | €134,912 | €134,912 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €97,412 | €97,412 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,359,002 | €1,381,436 | +€22,434 | +1.7% |
| Investment grants | 15 | €12,295 | €8,196 | -€4,098 | -33.3% |
| Amounts payable | 17/49 | €1,050,186 | €1,154,627 | +€104,441 | +9.9% |
| Amounts payable after more than one year | 17 | €251,120 | €237,190 | -€13,929 | -5.5% |
| Financial debts | 170/4 | €251,120 | €237,190 | -€13,929 | -5.5% |
| Amounts payable within one year | 42/48 | €799,066 | €917,437 | +€118,370 | +14.8% |
| Current portion of amounts payable after more than one year | 42 | €80,150 | €94,490 | +€14,340 | +17.9% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €364,942 | €485,942 | +€121,000 | +33.2% |
| Suppliers | 440/4 | €364,942 | €485,942 | +€121,000 | +33.2% |
| Advances received on contracts in progress | 46 | €42,044 | €35,912 | -€6,132 | -14.6% |
| Taxes, remuneration and social security | 45 | €93,331 | €101,093 | +€7,762 | +8.3% |
| Taxes | 450/3 | €37,575 | €49,442 | +€11,867 | +31.6% |
| Remuneration and social security | 454/9 | €55,756 | €51,651 | -€4,105 | -7.4% |
| Other amounts payable | 47/48 | €18,600 | - | -€18,600 | |
| Turnover | 70 | €0 | - | = | |
| Non-recurring operating income | 76A | €30,728 | - | -€30,728 | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €726,028 | €659,389 | -€66,638 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,664 | €169,444 | -€2,221 | -1.3% |
| Other operating charges | 640/8 | €39,983 | €24,321 | -€15,663 | -39.2% |
| Non-recurring operating charges | 66A | €67,501 | - | -€67,501 | |
| Gross operating margin | 9900 | €1,177,700 | €1,206,372 | +€28,672 | +2.4% |
| Operating profit (loss) | 9901 | €172,524 | €353,218 | +€180,694 | +105% |
| Financial income | 75/76B | €5,621 | €21,274 | +€15,653 | +278% |
| Recurring financial income | 75 | €5,621 | €7,077 | +€1,456 | +25.9% |
| Non-recurring financial income | 76B | - | €14,197 | +€14,197 | |
| Financial charges | 65/66B | €60,149 | €46,199 | -€13,949 | -23.2% |
| Recurring financial charges | 65 | €60,149 | €46,199 | -€13,949 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €117,996 | €328,292 | +€210,296 | +178% |
| Income taxes | 67/77 | €33,774 | €86,058 | +€52,285 | +155% |
| Profit (loss) for the period | 9904 | €84,222 | €242,234 | +€158,012 | +188% |
| Profit (loss) for the period to be appropriated | 9905 | €84,222 | €242,234 | +€158,012 | +188% |
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 17 October 2026 via checked.be.