D-FOOD: what changed
What changed
D-FOOD
NACE 46.321, Wholesale of meat and meat products, excluding game and poultry
filed annual accounts (NBB)
Net result for the year
€45,272
2025 · -€42,731+€88,002
Equity
€70,272
2025 · €88,583-€18,311
Cash
€72,758
2025 · €36,205+€36,552
Balance sheet total
€628,556
2025 · €613,954+€14,602
Largest movements
Assets
- Cash +€36,552
up €36,552 (+101%), from €36,205 to €72,758
mainly Net result for the year (+€45,272) and Trade debts (+€39,327)
- Tangible fixed assets -€33,027
down €33,027 (-16.1%), from €205,334 to €172,307
of which Leasing and similar rights: -€22,287
- Receivables within one year -€25,512
down €25,512 (-8.3%), from €306,833 to €281,322
of which Trade receivables: -€14,952
- Stocks and contracts +€23,454
up €23,454 (+41.8%), from €56,154 to €79,608
- Current investments +€11,129
up €11,129 (+241%), from €4,613 to €15,742
Equity and liabilities
- Trade debts +€39,327
up €39,327 (+15.4%), from €256,029 to €295,357
- Profit (loss) carried forward -€38,583
down €38,583 (-100%), from €38,583 to €0
- Debts after one year -€35,893
down €35,893 (-31.0%), from €115,657 to €79,764
- Other debts +€27,486
up €27,486 (+26.7%), from €102,956 to €130,442
- Reserves +€20,272
new in 2026: €20,272
Income statement
- Staff costs -€119,720
down €119,720, from €117,773 to -€1,947
- Taxes +€18,259
up €18,259 (+3,743%), from €488 to €18,747
- Write-downs +€17,282
up €17,282, from -€4,605 to €12,678
- Other operating charges +€11,362
up €11,362 (+121%), from €9,375 to €20,738
- Depreciation -€9,414
down €9,414 (-19.4%), from €48,645 to €39,231
Change in the result, 2025 to 2026
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 2025
-€42,731
Gross operating margin
+€594
Staff costs
+€119,720
Depreciation
+€9,414
Write-downs
-€17,282
Other operating charges
-€11,362
Other operating items
+€783
Financial income
-€106
Financial charges
+€4,502
Taxes
-€18,259
Result 2026
€45,272
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€158,754
Investment
-€16,645
Financing
-€105,556
Cash 2025
€36,205
From operations (derived)
+€158,754
Net result for the year
+€45,272
Depreciation
+€39,231
Stocks and contracts
-€23,454
Receivables within one year
+€25,512
Deferred charges and accrued income
-€2,693
Trade debts
+€39,327
Tax, wage and social debts
+€8,074
Other debts
+€27,486
Investment (derived)
-€16,645
Investment in fixed assets (net)
-€5,517
Current investments
-€11,129
Financing
-€105,556
Debts after one year
-€35,893
Current portion of long-term debt
-€6,081
Contributions, distributions and other
-€63,583
Cash 2026
€72,758
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €613,954 | €628,556 | +€14,602 | +2.4% |
| Fixed assets | 21/28 | €209,276 | €175,562 | -€33,714 | -16.1% |
| Intangible fixed assets | 21 | €1,942 | €1,255 | -€688 | -35.4% |
| Tangible fixed assets | 22/27 | €205,334 | €172,307 | -€33,027 | -16.1% |
| Land and buildings | 22 | €322 | €205 | -€117 | -36.4% |
| Plant, machinery and equipment | 23 | €53,009 | €46,747 | -€6,262 | -11.8% |
| Furniture and vehicles | 24 | €14,597 | €21,318 | +€6,721 | +46.0% |
| Leasing and similar rights | 25 | €40,436 | €18,149 | -€22,287 | -55.1% |
| Other tangible fixed assets | 26 | €96,971 | €85,888 | -€11,082 | -11.4% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €404,678 | €452,995 | +€48,316 | +11.9% |
| Stocks and contracts in progress | 3 | €56,154 | €79,608 | +€23,454 | +41.8% |
| Stocks | 30/36 | €56,154 | €79,608 | +€23,454 | +41.8% |
| Amounts receivable within one year | 40/41 | €306,833 | €281,322 | -€25,512 | -8.3% |
| Trade receivables | 40 | €296,121 | €281,168 | -€14,952 | -5.0% |
| Other amounts receivable | 41 | €10,713 | €154 | -€10,559 | -98.6% |
| Current investments | 50/53 | €4,613 | €15,742 | +€11,129 | +241% |
| Cash at bank and in hand | 54/58 | €36,205 | €72,758 | +€36,552 | +101% |
| Deferred charges and accrued income | 490/1 | €873 | €3,566 | +€2,693 | +309% |
| Total equity and liabilities | 10/49 | €613,954 | €628,556 | +€14,602 | +2.4% |
| Equity | 10/15 | €88,583 | €70,272 | -€18,311 | -20.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | - | €20,272 | +€20,272 | |
| Distributable reserves | 133 | - | €20,272 | +€20,272 | |
| Profit (loss) carried forward | 14 | €38,583 | €0 | -€38,583 | -100% |
| Amounts payable | 17/49 | €525,372 | €558,285 | +€32,913 | +6.3% |
| Amounts payable after more than one year | 17 | €115,657 | €79,764 | -€35,893 | -31.0% |
| Financial debts | 170/4 | €115,657 | €79,764 | -€35,893 | -31.0% |
| Amounts payable within one year | 42/48 | €409,715 | €478,520 | +€68,806 | +16.8% |
| Current portion of amounts payable after more than one year | 42 | €40,680 | €34,599 | -€6,081 | -14.9% |
| Trade debts | 44 | €256,029 | €295,357 | +€39,327 | +15.4% |
| Suppliers | 440/4 | €256,029 | €295,357 | +€39,327 | +15.4% |
| Taxes, remuneration and social security | 45 | €10,049 | €18,123 | +€8,074 | +80.3% |
| Taxes | 450/3 | €5,449 | €18,123 | +€12,674 | +233% |
| Remuneration and social security | 454/9 | €4,600 | €0 | -€4,600 | -100% |
| Other amounts payable | 47/48 | €102,956 | €130,442 | +€27,486 | +26.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €117,773 | -€1,947 | -€119,720 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,645 | €39,231 | -€9,414 | -19.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,605 | €12,678 | +€17,282 | |
| Other operating charges | 640/8 | €9,375 | €20,738 | +€11,362 | +121% |
| Non-recurring operating charges | 66A | €783 | €0 | -€783 | -100% |
| Gross operating margin | 9900 | €146,534 | €147,127 | +€594 | +0.4% |
| Operating profit (loss) | 9901 | -€25,437 | €76,428 | +€101,865 | |
| Financial income | 75/76B | €1,361 | €1,255 | -€106 | -7.8% |
| Recurring financial income | 75 | €1,361 | €1,255 | -€106 | -7.8% |
| Financial charges | 65/66B | €18,167 | €13,665 | -€4,502 | -24.8% |
| Recurring financial charges | 65 | €18,167 | €13,665 | -€4,502 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | -€42,243 | €64,018 | +€106,261 | |
| Income taxes | 67/77 | €488 | €18,747 | +€18,259 | +3,743% |
| Profit (loss) for the period | 9904 | -€42,731 | €45,272 | +€88,002 | |
| Profit (loss) for the period to be appropriated | 9905 | -€42,731 | €45,272 | +€88,002 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.