LE BELVEDERE: what changed
What changed
LE BELVEDERE
NACE 56.111, Full-service restaurants
filed annual accounts (NBB)
Net result for the year
-€14,082
2024 · -€18,364+€4,282
Equity
€208,327
2024 · €222,439-€14,112
Cash
€72,468
2024 · €96,440-€23,972
Balance sheet total
€224,153
2024 · €255,091-€30,939
Largest movements
Assets
- Cash -€23,972
down €23,972 (-24.9%), from €96,440 to €72,468
mainly Tax, wage and social debts (-€18,567) and Stocks and contracts (-€15,232)
- Stocks and contracts +€15,232
up €15,232 (+44.4%), from €34,323 to €49,555
- Tangible fixed assets -€14,687
down €14,687 (-18.9%), from €77,507 to €62,820
- Receivables within one year -€8,502
down €8,502 (-97.6%), from €8,710 to €207
of which Trade receivables: -€8,710
Equity and liabilities
- Tax, wage and social debts -€18,567
down €18,567 (-76.6%), from €24,237 to €5,669
of which Remuneration and social security: -€13,438
- Reserves -€14,082
down €14,082 (-8.8%), from €160,289 to €146,207
of which Distributable reserves: -€14,082
Income statement
- Gross operating margin -€13,911
down €13,911 (-8.5%), from €164,116 to €150,205
- Staff costs -€12,217
down €12,217 (-8.1%), from €150,965 to €138,748
- Financial charges -€3,761
down €3,761 (-59.7%), from €6,301 to €2,540
- Financial income +€1,756
up €1,756 (+144%), from €1,220 to €2,976
Change in the result, 2024 to 2025
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 2024
-€18,364
Gross operating margin
-€13,911
Staff costs
+€12,217
Depreciation
+€547
Other operating charges
+€1,292
Other operating items
-€2,009
Financial income
+€1,756
Financial charges
+€3,761
Taxes
+€629
Result 2025
-€14,082
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€21,832
Investment
-€2,109
Financing
-€30
Cash 2024
€96,440
From operations (derived)
-€21,832
Net result for the year
-€14,082
Depreciation
+€14,863
Stocks and contracts
-€15,232
Receivables within one year
+€8,502
Deferred charges and accrued income
+€943
Trade debts
+€2,425
Tax, wage and social debts
-€18,567
Other debts
-€642
Accrued charges and deferred income
-€42
Investment (derived)
-€2,109
Current investments
-€2,109
Financing
-€30
Contributions, distributions and other
-€30
Cash 2025
€72,468
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €255,091 | €224,153 | -€30,939 | -12.1% |
| Fixed assets | 21/28 | €77,683 | €62,820 | -€14,863 | -19.1% |
| Intangible fixed assets | 21 | €176 | - | -€176 | |
| Tangible fixed assets | 22/27 | €77,507 | €62,820 | -€14,687 | -18.9% |
| Land and buildings | 22 | €42,902 | €38,716 | -€4,186 | -9.8% |
| Plant, machinery and equipment | 23 | €16,023 | €12,293 | -€3,731 | -23.3% |
| Furniture and vehicles | 24 | €18,582 | €11,811 | -€6,771 | -36.4% |
| Current assets | 29/58 | €177,408 | €161,332 | -€16,076 | -9.1% |
| Stocks and contracts in progress | 3 | €34,323 | €49,555 | +€15,232 | +44.4% |
| Stocks | 30/36 | €34,323 | €49,555 | +€15,232 | +44.4% |
| Amounts receivable within one year | 40/41 | €8,710 | €207 | -€8,502 | -97.6% |
| Trade receivables | 40 | €8,710 | - | -€8,710 | |
| Other amounts receivable | 41 | - | €207 | +€207 | |
| Current investments | 50/53 | €33,224 | €35,333 | +€2,109 | +6.3% |
| Cash at bank and in hand | 54/58 | €96,440 | €72,468 | -€23,972 | -24.9% |
| Deferred charges and accrued income | 490/1 | €4,712 | €3,769 | -€943 | -20.0% |
| Total equity and liabilities | 10/49 | €255,091 | €224,153 | -€30,939 | -12.1% |
| Equity | 10/15 | €222,439 | €208,327 | -€14,112 | -6.3% |
| Contributions | 10/11 | €62,150 | €62,120 | -€30 | 0.0% |
| Capital | 10 | €62,150 | €62,120 | -€30 | 0.0% |
| Issued capital | 100 | €62,150 | €62,120 | -€30 | 0.0% |
| Reserves | 13 | €160,289 | €146,207 | -€14,082 | -8.8% |
| Non-distributable reserves | 130/1 | €6,215 | €6,215 | = | 0.0% |
| Legal reserve | 130 | €6,215 | €6,215 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,163 | €29,163 | = | 0.0% |
| Distributable reserves | 133 | €124,911 | €110,829 | -€14,082 | -11.3% |
| Amounts payable | 17/49 | €32,652 | €15,826 | -€16,826 | -51.5% |
| Amounts payable within one year | 42/48 | €32,610 | €15,826 | -€16,784 | -51.5% |
| Trade debts | 44 | €7,070 | €9,495 | +€2,425 | +34.3% |
| Suppliers | 440/4 | €7,070 | €9,495 | +€2,425 | +34.3% |
| Taxes, remuneration and social security | 45 | €24,237 | €5,669 | -€18,567 | -76.6% |
| Taxes | 450/3 | €10,799 | €5,669 | -€5,130 | -47.5% |
| Remuneration and social security | 454/9 | €13,438 | - | -€13,438 | |
| Other amounts payable | 47/48 | €1,303 | €661 | -€642 | -49.2% |
| Accrued charges and deferred income | 492/3 | €42 | - | -€42 | |
| Remuneration, social security and pensions | 62 | €150,965 | €138,748 | -€12,217 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,410 | €14,863 | -€547 | -3.6% |
| Other operating charges | 640/8 | €10,711 | €9,419 | -€1,292 | -12.1% |
| Non-recurring operating charges | 66A | - | €2,009 | +€2,009 | |
| Gross operating margin | 9900 | €164,116 | €150,205 | -€13,911 | -8.5% |
| Operating profit (loss) | 9901 | -€12,969 | -€14,833 | -€1,864 | -14.4% |
| Financial income | 75/76B | €1,220 | €2,976 | +€1,756 | +144% |
| Recurring financial income | 75 | €1,220 | €2,976 | +€1,756 | +144% |
| Financial charges | 65/66B | €6,301 | €2,540 | -€3,761 | -59.7% |
| Recurring financial charges | 65 | €6,301 | €2,540 | -€3,761 | -59.7% |
| Profit (loss) for the period before taxes | 9903 | -€18,050 | -€14,397 | +€3,653 | +20.2% |
| Income taxes | 67/77 | €315 | -€315 | -€629 | |
| Profit (loss) for the period | 9904 | -€18,364 | -€14,082 | +€4,282 | +23.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,364 | -€14,082 | +€4,282 | +23.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.