BELTOMEX: 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
BELTOMEX
NACE 01.130, Growing of vegetables, melons, roots and tubers
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€15,306
2024 · €85,720-€70,414
Equity
€1.7m
2024 · €1.7m+€15,306
Cash
€464,365
2024 · €731,452-€267,087
Balance sheet total
€2.7m
2024 · €3.1m-€332,790
Largest movements
Assets
- Tangible fixed assets -€295,000
down €295,000 (-16.4%), from €1.8m to €1.5m
- Cash -€267,087
down €267,087 (-36.5%), from €731,452 to €464,365
mainly Receivables within one year (-€214,837) and Debts after one year (-€193,622)
- Receivables within one year +€214,837
up €214,837 (+47.4%), from €453,179 to €668,016
of which Trade receivables: +€211,262
Equity and liabilities
- Debts after one year -€193,622
down €193,622 (-33.8%), from €573,122 to €379,499
- Tax, wage and social debts -€89,196
down €89,196 (-61.9%), from €144,088 to €54,891
of which Taxes: -€83,590
- Trade debts -€49,317
down €49,317 (-11.3%), from €438,308 to €388,992
Income statement
- Gross operating margin -€82,662
down €82,662 (-10.1%), from €822,073 to €739,411
- Taxes -€61,213
down €61,213 (-84.3%), from €72,609 to €11,396
- Depreciation -€18,208
down €18,208 (-7.8%), from €232,083 to €213,875
- Staff costs +€15,232
up €15,232 (+4.1%), from €371,246 to €386,478
- Other operating charges -€11,635
down €11,635 (-29.1%), from €40,039 to €28,404
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
€85,720
Gross operating margin
-€82,662
Staff costs
-€15,232
Depreciation
+€18,208
Other operating charges
+€11,635
Other operating items
-€60,687
Financial income
+€4,193
Financial charges
-€7,082
Taxes
+€61,213
Result 2025
€15,306
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
-€164,948
Investment
+€81,125
Financing
-€183,265
Cash 2024
€731,452
From operations (derived)
-€164,948
Net result for the year
+€15,306
Depreciation
+€213,875
Receivables after one year
-€18,500
Stocks and contracts
+€5,458
Receivables within one year
-€214,837
Deferred charges and accrued income
-€1,418
Trade debts
-€49,317
Tax, wage and social debts
-€89,196
Other debts
-€17,947
Accrued charges and deferred income
-€8,372
Investment (derived)
+€81,125
Investment in fixed assets (net)
+€81,125
Financing
-€183,265
Debts after one year
-€193,622
Current portion of long-term debt
+€10,829
Short-term financial debts
-€471
Cash 2025
€464,365
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,051,004 | €2,718,214 | -€332,790 | -10.9% |
| Fixed assets | 21/28 | €1,795,605 | €1,500,605 | -€295,000 | -16.4% |
| Tangible fixed assets | 22/27 | €1,794,365 | €1,499,365 | -€295,000 | -16.4% |
| Land and buildings | 22 | €1,248,690 | €1,151,463 | -€97,227 | -7.8% |
| Plant, machinery and equipment | 23 | €404,943 | €345,674 | -€59,269 | -14.6% |
| Furniture and vehicles | 24 | €140,732 | €2,227 | -€138,505 | -98.4% |
| Financial fixed assets | 28 | €1,240 | €1,240 | = | 0.0% |
| Current assets | 29/58 | €1,255,399 | €1,217,609 | -€37,790 | -3.0% |
| Amounts receivable after more than one year | 29 | €9,250 | €27,750 | +€18,500 | +200% |
| Other amounts receivable | 291 | €9,250 | €27,750 | +€18,500 | +200% |
| Stocks and contracts in progress | 3 | €15,277 | €9,818 | -€5,458 | -35.7% |
| Stocks | 30/36 | €15,277 | €9,818 | -€5,458 | -35.7% |
| Amounts receivable within one year | 40/41 | €453,179 | €668,016 | +€214,837 | +47.4% |
| Trade receivables | 40 | €420,076 | €631,338 | +€211,262 | +50.3% |
| Other amounts receivable | 41 | €33,103 | €36,678 | +€3,575 | +10.8% |
| Cash at bank and in hand | 54/58 | €731,452 | €464,365 | -€267,087 | -36.5% |
| Deferred charges and accrued income | 490/1 | €46,241 | €47,660 | +€1,418 | +3.1% |
| Total equity and liabilities | 10/49 | €3,051,004 | €2,718,214 | -€332,790 | -10.9% |
| Equity | 10/15 | €1,708,753 | €1,724,059 | +€15,306 | +0.9% |
| Contributions | 10/11 | €87,000 | €87,000 | = | 0.0% |
| Revaluation surpluses | 12 | €436,200 | €429,600 | -€6,600 | -1.5% |
| Reserves | 13 | €1,185,553 | €1,185,553 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,700 | €8,700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,700 | €8,700 | = | 0.0% |
| Distributable reserves | 133 | €1,176,853 | €1,176,853 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €21,906 | +€21,906 | |
| Amounts payable | 17/49 | €1,342,251 | €994,155 | -€348,096 | -25.9% |
| Amounts payable after more than one year | 17 | €573,122 | €379,499 | -€193,622 | -33.8% |
| Financial debts | 170/4 | €573,122 | €379,499 | -€193,622 | -33.8% |
| Amounts payable within one year | 42/48 | €760,030 | €613,928 | -€146,102 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €159,086 | €169,915 | +€10,829 | +6.8% |
| Financial debts | 43 | €601 | €131 | -€471 | -78.3% |
| Credit institutions | 430/8 | €601 | €131 | -€471 | -78.3% |
| Trade debts | 44 | €438,308 | €388,992 | -€49,317 | -11.3% |
| Suppliers | 440/4 | €438,308 | €388,992 | -€49,317 | -11.3% |
| Taxes, remuneration and social security | 45 | €144,088 | €54,891 | -€89,196 | -61.9% |
| Taxes | 450/3 | €105,046 | €21,456 | -€83,590 | -79.6% |
| Remuneration and social security | 454/9 | €39,041 | €33,436 | -€5,606 | -14.4% |
| Other amounts payable | 47/48 | €17,947 | €0 | -€17,947 | -100% |
| Accrued charges and deferred income | 492/3 | €9,099 | €728 | -€8,372 | -92.0% |
| Remuneration, social security and pensions | 62 | €371,246 | €386,478 | +€15,232 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €232,083 | €213,875 | -€18,208 | -7.8% |
| Other operating charges | 640/8 | €40,039 | €28,404 | -€11,635 | -29.1% |
| Non-recurring operating charges | 66A | - | €60,687 | +€60,687 | |
| Gross operating margin | 9900 | €822,073 | €739,411 | -€82,662 | -10.1% |
| Operating profit (loss) | 9901 | €178,705 | €49,966 | -€128,739 | -72.0% |
| Financial income | 75/76B | €5,738 | €9,931 | +€4,193 | +73.1% |
| Recurring financial income | 75 | €5,738 | €9,931 | +€4,193 | +73.1% |
| Non-recurring financial income | 76B | - | €0 | = | |
| Financial charges | 65/66B | €26,114 | €33,196 | +€7,082 | +27.1% |
| Recurring financial charges | 65 | €26,114 | €33,196 | +€7,082 | +27.1% |
| Profit (loss) for the period before taxes | 9903 | €158,329 | €26,702 | -€131,628 | -83.1% |
| Income taxes | 67/77 | €72,609 | €11,396 | -€61,213 | -84.3% |
| Profit (loss) for the period | 9904 | €85,720 | €15,306 | -€70,414 | -82.1% |
| Transfer from tax-exempt reserves | 789 | €6,600 | €6,600 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €92,320 | €21,906 | -€70,414 | -76.3% |
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 29 October 2026 via checked.be.