Locks: 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
Locks
NACE 46.321, Wholesale of meat and meat products, excluding game and poultry
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€114,006
2024 · €7.2m-€7.1m
Equity
€22.9m
2024 · €22.8m+€114,006
Cash
€293,378
2024 · €2.2m-€1.9m
Balance sheet total
€72.8m
2024 · €74.3m-€1.5m
Largest movements
Assets
- Cash -€1.9m
down €1.9m (-86.5%), from €2.2m to €293,378
mainly Investment in fixed assets (net) (-€1.3m) and Stocks and contracts (-€853,301)
- Tangible fixed assets -€1.1m
down €1.1m (-4.9%), from €22.1m to €21.0m
of which Land and buildings: -€909,335
- Stocks and contracts +€853,301
up €853,301 (+6.6%), from €12.9m to €13.7m
Equity and liabilities
- Trade debts -€803,365
down €803,365 (-1.7%), from €47.7m to €46.9m
Income statement
- Turnover -€16.4m
down €16.4m (-15.2%), from €107.7m to €91.3m
- Goods and materials -€15.9m
down €15.9m (-16.3%), from €97.5m to €81.6m
of which Purchases: -€15.9m
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
€7.2m
Turnover
-€16.4m
Other operating income
+€31,367
Goods and materials
+€15.9m
Services and other goods
+€81,792
Staff costs
-€375,585
Depreciation
-€315,359
Provisions
-€4,586
Other operating charges
-€63,068
Other operating items
-€9.1m
Financial income
+€370,560
Financial charges
+€499,411
Taxes
+€967,776
Deferred taxes and other
+€1.3m
Result 2025
€114,006
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
-€562,678
Investment
-€1.3m
Financing
€0
Cash 2024
€2.2m
From operations (derived)
-€562,678
Net result for the year
+€114,006
Depreciation
+€2.4m
Stocks and contracts
-€853,301
Receivables within one year
-€541,029
Deferred charges and accrued income
-€36,105
Provisions
-€258,113
Trade debts
-€803,365
Tax, wage and social debts
-€167,466
Accrued charges and deferred income
-€400,361
Investment (derived)
-€1.3m
Investment in fixed assets (net)
-€1.3m
Cash 2025
€293,378
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €74,298,933 | €72,783,634 | -€1.5m | -2.0% |
| Fixed assets | 21/28 | €22,100,557 | €21,037,240 | -€1.1m | -4.8% |
| Tangible fixed assets | 22/27 | €22,100,099 | €21,010,967 | -€1.1m | -4.9% |
| Land and buildings | 22 | €11,756,745 | €10,847,410 | -€909,335 | -7.7% |
| Plant, machinery and equipment | 23 | €10,261,632 | €10,088,067 | -€173,565 | -1.7% |
| Furniture and vehicles | 24 | €81,722 | €75,491 | -€6,232 | -7.6% |
| Financial fixed assets | 28 | €458 | €26,273 | +€25,815 | +5,641% |
| Other financial fixed assets | 284/8 | €458 | €26,273 | +€25,815 | +5,641% |
| Amounts receivable and cash guarantees | 285/8 | €458 | €26,273 | +€25,815 | +5,641% |
| Current assets | 29/58 | €52,198,376 | €51,746,394 | -€451,982 | -0.9% |
| Stocks and contracts in progress | 3 | €12,856,071 | €13,709,371 | +€853,301 | +6.6% |
| Stocks | 30/36 | €12,856,071 | €13,709,371 | +€853,301 | +6.6% |
| Raw materials and consumables | 30/31 | €21,985 | €31,691 | +€9,707 | +44.2% |
| Finished goods | 33 | €12,834,086 | €13,677,680 | +€843,594 | +6.6% |
| Amounts receivable within one year | 40/41 | €37,105,963 | €37,646,992 | +€541,029 | +1.5% |
| Trade receivables | 40 | €33,462,087 | €26,854,054 | -€6.6m | -19.7% |
| Other amounts receivable | 41 | €3,643,876 | €10,792,939 | +€7.1m | +196% |
| Cash at bank and in hand | 54/58 | €2,175,795 | €293,378 | -€1.9m | -86.5% |
| Deferred charges and accrued income | 490/1 | €60,547 | €96,652 | +€36,105 | +59.6% |
| Total equity and liabilities | 10/49 | €74,298,933 | €72,783,634 | -€1.5m | -2.0% |
| Equity | 10/15 | €22,769,144 | €22,883,150 | +€114,006 | +0.5% |
| Contributions | 10/11 | €2,232,000 | €2,232,000 | = | 0.0% |
| Capital | 10 | €2,232,000 | €2,232,000 | = | 0.0% |
| Issued capital | 100 | €2,232,000 | €2,232,000 | = | 0.0% |
| Reserves | 13 | €20,537,144 | €20,651,150 | +€114,006 | +0.6% |
| Non-distributable reserves | 130/1 | €223,200 | €223,200 | = | 0.0% |
| Legal reserve | 130 | €223,200 | €223,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,094,307 | €10,283,165 | -€811,143 | -7.3% |
| Distributable reserves | 133 | €9,219,637 | €10,144,785 | +€925,149 | +10.0% |
| Provisions and deferred taxes | 16 | €3,091,094 | €2,832,981 | -€258,113 | -8.4% |
| Provisions for liabilities and charges | 160/5 | €20,861 | €33,129 | +€12,268 | +58.8% |
| Other liabilities and charges | 164/5 | €20,861 | €33,129 | +€12,268 | +58.8% |
| Deferred taxes | 168 | €3,070,233 | €2,799,852 | -€270,381 | -8.8% |
| Amounts payable | 17/49 | €48,438,695 | €47,067,503 | -€1.4m | -2.8% |
| Amounts payable within one year | 42/48 | €48,038,334 | €47,067,503 | -€970,830 | -2.0% |
| Trade debts | 44 | €47,717,255 | €46,913,890 | -€803,365 | -1.7% |
| Suppliers | 440/4 | €47,717,255 | €46,913,890 | -€803,365 | -1.7% |
| Taxes, remuneration and social security | 45 | €321,078 | €153,613 | -€167,466 | -52.2% |
| Taxes | 450/3 | €277,063 | €14,105 | -€262,957 | -94.9% |
| Remuneration and social security | 454/9 | €44,015 | €139,507 | +€95,492 | +217% |
| Accrued charges and deferred income | 492/3 | €400,361 | - | -€400,361 | |
| Operating income | 70/76A | €117,485,241 | €92,199,698 | -€25.3m | -21.5% |
| Turnover | 70 | €107,680,343 | €91,310,799 | -€16.4m | -15.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €789,056 | €843,594 | +€54,538 | +6.9% |
| Other operating income | 74 | €13,938 | €45,306 | +€31,367 | +225% |
| Non-recurring operating income | 76A | €9,001,904 | - | -€9.0m | |
| Operating charges | 60/66A | €107,712,099 | €92,705,815 | -€15.0m | -13.9% |
| Goods for resale, raw materials and consumables | 60 | €97,475,868 | €81,613,766 | -€15.9m | -16.3% |
| Purchases | 600/8 | €97,497,853 | €81,623,473 | -€15.9m | -16.3% |
| Change in stocks: decrease (increase) | 609 | -€21,985 | -€9,707 | +€12,278 | +55.8% |
| Services and other goods | 61 | €7,976,542 | €7,894,751 | -€81,792 | -1.0% |
| Remuneration, social security and pensions | 62 | €162,157 | €537,741 | +€375,585 | +232% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,067,697 | €2,383,056 | +€315,359 | +15.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €7,682 | €12,268 | +€4,586 | +59.7% |
| Other operating charges | 640/8 | €22,153 | €85,221 | +€63,068 | +285% |
| Non-recurring operating charges | 66A | - | €179,012 | +€179,012 | |
| Operating profit (loss) | 9901 | €9,773,142 | -€506,116 | -€10.3m | |
| Financial income | 75/76B | €340,871 | €711,430 | +€370,560 | +109% |
| Recurring financial income | 75 | €340,534 | €689,512 | +€348,978 | +102% |
| Income from current assets | 751 | €207,050 | €250,990 | +€43,940 | +21.2% |
| Other financial income | 752/9 | €133,484 | €438,522 | +€305,038 | +229% |
| Non-recurring financial income | 76B | €337 | €21,919 | +€21,582 | +6,406% |
| Financial charges | 65/66B | €547,961 | €48,550 | -€499,411 | -91.1% |
| Recurring financial charges | 65 | €545,965 | €48,426 | -€497,539 | -91.1% |
| Debt charges | 650 | €101 | €241 | +€140 | +139% |
| Other financial charges | 652/9 | €545,864 | €48,185 | -€497,679 | -91.2% |
| Non-recurring financial charges | 66B | €1,996 | €125 | -€1,871 | -93.8% |
| Profit (loss) for the period before taxes | 9903 | €9,566,052 | €156,764 | -€9.4m | -98.4% |
| Transfer from deferred taxes | 780 | €246,468 | €270,381 | +€23,913 | +9.7% |
| Transfer to deferred taxes | 680 | €1,284,879 | - | -€1.3m | |
| Income taxes | 67/77 | €1,280,915 | €313,139 | -€967,776 | -75.6% |
| Taxes | 670/3 | €1,280,915 | €313,139 | -€967,776 | -75.6% |
| Profit (loss) for the period | 9904 | €7,246,726 | €114,006 | -€7.1m | -98.4% |
| Transfer from tax-exempt reserves | 789 | €739,404 | €811,143 | +€71,739 | +9.7% |
| Transfer to tax-exempt reserves | 689 | €3,854,636 | - | -€3.9m | |
| Profit (loss) for the period to be appropriated | 9905 | €4,131,494 | €925,149 | -€3.2m | -77.6% |
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 26 October 2026 via checked.be.