BELGRECO: what changed
Two fiscal 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.
BELGRECO
Largest movements
- Tangible fixed assets -€6,748
down €6,748 (-1.7%), from €389,091 to €382,344
- Profit (loss) carried forward -€9,289
down €9,289 (-3.1%), from -€299,051 to -€308,339
- Other operating charges -€2,836
down €2,836 (-34.2%), from €8,295 to €5,459
- Gross operating margin -€1,843
down €1,843 (-38.5%), from €4,785 to €2,942
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.
Cash bridge derived
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 | €455,594 | €447,988 | -€7,605 | -1.7% |
| Fixed assets | 21/28 | €389,091 | €382,344 | -€6,748 | -1.7% |
| Tangible fixed assets | 22/27 | €389,091 | €382,344 | -€6,748 | -1.7% |
| Land and buildings | 22 | €389,091 | €382,344 | -€6,748 | -1.7% |
| Current assets | 29/58 | €66,503 | €65,645 | -€858 | -1.3% |
| Amounts receivable within one year | 40/41 | €63,222 | €65,005 | +€1,783 | +2.8% |
| Trade receivables | 40 | €1,000 | - | -€1,000 | |
| Other amounts receivable | 41 | €62,222 | €65,005 | +€2,783 | +4.5% |
| Cash at bank and in hand | 54/58 | €3,280 | €640 | -€2,641 | -80.5% |
| Total equity and liabilities | 10/49 | €455,594 | €447,988 | -€7,605 | -1.7% |
| Equity | 10/15 | €331,013 | €321,725 | -€9,289 | -2.8% |
| Contributions | 10/11 | €630,000 | €630,000 | = | 0.0% |
| Capital | 10 | €630,000 | €630,000 | = | 0.0% |
| Issued capital | 100 | €630,000 | €630,000 | = | 0.0% |
| Reserves | 13 | €64 | €64 | = | 0.0% |
| Non-distributable reserves | 130/1 | €64 | €64 | = | 0.0% |
| Legal reserve | 130 | €64 | €64 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€299,051 | -€308,339 | -€9,289 | -3.1% |
| Amounts payable | 17/49 | €124,580 | €126,263 | +€1,683 | +1.4% |
| Amounts payable within one year | 42/48 | €124,580 | €126,263 | +€1,683 | +1.4% |
| Trade debts | 44 | €513 | €513 | = | 0.0% |
| Suppliers | 440/4 | €513 | €513 | = | 0.0% |
| Other amounts payable | 47/48 | €124,067 | €125,750 | +€1,683 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,748 | €6,748 | = | 0.0% |
| Other operating charges | 640/8 | €8,295 | €5,459 | -€2,836 | -34.2% |
| Gross operating margin | 9900 | €4,785 | €2,942 | -€1,843 | -38.5% |
| Operating profit (loss) | 9901 | -€10,258 | -€9,265 | +€993 | +9.7% |
| Financial charges | 65/66B | €24 | €24 | = | 0.0% |
| Recurring financial charges | 65 | €24 | €24 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€10,282 | -€9,289 | +€993 | +9.7% |
| Profit (loss) for the period | 9904 | -€10,282 | -€9,289 | +€993 | +9.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,282 | -€9,289 | +€993 | +9.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.