BELGOSWEET: 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.
BELGOSWEET
Largest movements
- Receivables within one year -€61,089
down €61,089 (-14.6%), from €417,093 to €356,004
of which Trade receivables: -€63,687
- Cash +€31,228
up €31,228 (+72.0%), from €43,346 to €74,574
mainly Receivables within one year (+€61,089) and Depreciation (+€36,253)
- Deferred charges and accrued income -€21,481
down €21,481 (-84.6%), from €25,392 to €3,911
- Intangible fixed assets -€18,562
no longer reported in 2025 (was €18,562)
- Stocks and contracts -€11,817
down €11,817 (-17.4%), from €67,769 to €55,952
- Trade debts -€132,073
down €132,073 (-84.1%), from €157,066 to €24,993
- Tax, wage and social debts +€18,925
up €18,925 (+157%), from €12,070 to €30,995
of which Taxes: +€15,836
- Provisions +€18,000
new in 2025: €18,000
- Advances received +€12,042
up €12,042 (+12.0%), from €100,639 to €112,681
- Gross operating margin +€27,994
up €27,994 (+22.6%), from €123,948 to €151,942
- Staff costs +€25,485
up €25,485 (+42.1%), from €60,512 to €85,997
- Provisions +€18,000
new in 2025: €18,000
- Depreciation -€6,550
down €6,550 (-15.3%), from €42,803 to €36,253
- Taxes +€2,793
up €2,793 (+77.7%), from €3,595 to €6,388
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 | €646,349 | €554,047 | -€92,302 | -14.3% |
| Fixed assets | 21/28 | €92,749 | €63,606 | -€29,143 | -31.4% |
| Intangible fixed assets | 21 | €18,562 | - | -€18,562 | |
| Tangible fixed assets | 22/27 | €74,038 | €63,457 | -€10,581 | -14.3% |
| Plant, machinery and equipment | 23 | €1,080 | €5,701 | +€4,621 | +428% |
| Furniture and vehicles | 24 | €48,849 | €37,592 | -€11,257 | -23.0% |
| Other tangible fixed assets | 26 | €24,109 | €20,164 | -€3,945 | -16.4% |
| Financial fixed assets | 28 | €149 | €149 | = | 0.0% |
| Current assets | 29/58 | €553,600 | €490,441 | -€63,159 | -11.4% |
| Stocks and contracts in progress | 3 | €67,769 | €55,952 | -€11,817 | -17.4% |
| Stocks | 30/36 | €67,769 | €55,952 | -€11,817 | -17.4% |
| Amounts receivable within one year | 40/41 | €417,093 | €356,004 | -€61,089 | -14.6% |
| Trade receivables | 40 | €331,298 | €267,611 | -€63,687 | -19.2% |
| Other amounts receivable | 41 | €85,795 | €88,393 | +€2,598 | +3.0% |
| Cash at bank and in hand | 54/58 | €43,346 | €74,574 | +€31,228 | +72.0% |
| Deferred charges and accrued income | 490/1 | €25,392 | €3,911 | -€21,481 | -84.6% |
| Total equity and liabilities | 10/49 | €646,349 | €554,047 | -€92,302 | -14.3% |
| Equity | 10/15 | €275,156 | €275,846 | +€690 | +0.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €254,696 | €255,386 | +€690 | +0.3% |
| Provisions and deferred taxes | 16 | - | €18,000 | +€18,000 | |
| Provisions for liabilities and charges | 160/5 | - | €18,000 | +€18,000 | |
| Other liabilities and charges | 164/5 | - | €18,000 | +€18,000 | |
| Amounts payable | 17/49 | €371,193 | €260,201 | -€110,992 | -29.9% |
| Amounts payable after more than one year | 17 | €90,170 | €85,000 | -€5,170 | -5.7% |
| Financial debts | 170/4 | €90,170 | €85,000 | -€5,170 | -5.7% |
| Amounts payable within one year | 42/48 | €281,023 | €175,201 | -€105,822 | -37.7% |
| Current portion of amounts payable after more than one year | 42 | €6,581 | €5,365 | -€1,216 | -18.5% |
| Financial debts | 43 | €4,667 | €1,167 | -€3,500 | -75.0% |
| Credit institutions | 430/8 | €4,667 | €1,167 | -€3,500 | -75.0% |
| Trade debts | 44 | €157,066 | €24,993 | -€132,073 | -84.1% |
| Suppliers | 440/4 | €157,066 | €24,993 | -€132,073 | -84.1% |
| Advances received on contracts in progress | 46 | €100,639 | €112,681 | +€12,042 | +12.0% |
| Taxes, remuneration and social security | 45 | €12,070 | €30,995 | +€18,925 | +157% |
| Taxes | 450/3 | €10,134 | €25,970 | +€15,836 | +156% |
| Remuneration and social security | 454/9 | €1,936 | €5,025 | +€3,089 | +160% |
| Remuneration, social security and pensions | 62 | €60,512 | €85,997 | +€25,485 | +42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,803 | €36,253 | -€6,550 | -15.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €18,000 | +€18,000 | |
| Other operating charges | 640/8 | €1,405 | €1,610 | +€205 | +14.6% |
| Non-recurring operating charges | 66A | €8,302 | - | -€8,302 | |
| Gross operating margin | 9900 | €123,948 | €151,942 | +€27,994 | +22.6% |
| Operating profit (loss) | 9901 | €10,926 | €10,082 | -€844 | -7.7% |
| Financial income | 75/76B | €120 | - | -€120 | |
| Recurring financial income | 75 | €120 | - | -€120 | |
| Financial charges | 65/66B | €5,340 | €3,004 | -€2,336 | -43.7% |
| Recurring financial charges | 65 | €5,340 | €3,004 | -€2,336 | -43.7% |
| Profit (loss) for the period before taxes | 9903 | €5,706 | €7,078 | +€1,372 | +24.0% |
| Income taxes | 67/77 | €3,595 | €6,388 | +€2,793 | +77.7% |
| Profit (loss) for the period | 9904 | €2,111 | €690 | -€1,421 | -67.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,111 | €690 | -€1,421 | -67.3% |
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 15 October 2026 via checked.be.