QUALITY FEED: 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
QUALITY FEED
NACE 10.910, Manufacture of food products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€248,186
2024 · €95,336+€152,850
Equity
€1.1m
2024 · €899,994+€248,186
Cash
€114,188
2024 · €105,766+€8,422
Balance sheet total
€6.5m
2024 · €5.6m+€960,119
Largest movements
Assets
- Receivables within one year +€1.4m
up €1.4m (+42.4%), from €3.4m to €4.8m
of which Other amounts receivable: +€1.5m
- Stocks and contracts -€376,866
down €376,866 (-39.9%), from €943,418 to €566,551
- Tangible fixed assets -€118,512
down €118,512 (-10.9%), from €1.1m to €966,056
of which Land and buildings: -€154,542
Equity and liabilities
- Trade debts +€887,540
up €887,540 (+69.2%), from €1.3m to €2.2m
- Short-term financial debts -€285,684
down €285,684 (-11.3%), from €2.5m to €2.3m
- Reserves +€248,186
up €248,186 (+29.6%), from €838,494 to €1.1m
of which Distributable reserves: +€248,186
- Current portion of long-term debt +€82,106
up €82,106 (+514%), from €15,961 to €98,067
Income statement
- Turnover +€1.0m
up €1.0m (+6.6%), from €15.7m to €16.7m
- Services and other goods +€827,047
up €827,047 (+23.4%), from €3.5m to €4.4m
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
€95,336
Turnover
+€1.0m
Other operating income
+€27,965
Goods and materials
+€4,964
Services and other goods
-€827,047
Staff costs
-€52,096
Depreciation
-€25,239
Other operating charges
+€9,573
Financial income
-€559
Financial charges
+€33,475
Taxes
-€47,843
Result 2025
€248,186
raises the resultlowers the result
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
+€355,547
Investment
-€105,119
Financing
-€242,007
Cash 2024
€105,766
From operations (derived)
+€355,547
Net result for the year
+€248,186
Depreciation
+€223,630
Stocks and contracts
+€376,866
Receivables within one year
-€1.4m
Smaller working-capital items
-€1,981
Trade debts
+€887,540
Tax, wage and social debts
+€64,907
Investment (derived)
-€105,119
Investment in fixed assets (net)
-€105,119
Financing
-€242,007
Debts after one year
-€38,430
Current portion of long-term debt
+€82,106
Short-term financial debts
-€285,684
Cash 2025
€114,188
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,560,053 | €6,520,172 | +€960,119 | +17.3% |
| Fixed assets | 21/28 | €1,084,567 | €966,056 | -€118,512 | -10.9% |
| Tangible fixed assets | 22/27 | €1,084,567 | €966,056 | -€118,512 | -10.9% |
| Land and buildings | 22 | €832,331 | €677,789 | -€154,542 | -18.6% |
| Plant, machinery and equipment | 23 | €213,079 | €264,701 | +€51,622 | +24.2% |
| Furniture and vehicles | 24 | €39,157 | €23,565 | -€15,592 | -39.8% |
| Current assets | 29/58 | €4,475,486 | €5,554,116 | +€1.1m | +24.1% |
| Stocks and contracts in progress | 3 | €943,418 | €566,551 | -€376,866 | -39.9% |
| Stocks | 30/36 | €943,418 | €566,551 | -€376,866 | -39.9% |
| Goods purchased for resale | 34 | €943,418 | €566,551 | -€376,866 | -39.9% |
| Amounts receivable within one year | 40/41 | €3,403,541 | €4,847,142 | +€1.4m | +42.4% |
| Trade receivables | 40 | €3,233,306 | €3,202,424 | -€30,882 | -1.0% |
| Other amounts receivable | 41 | €170,235 | €1,644,718 | +€1.5m | +866% |
| Cash at bank and in hand | 54/58 | €105,766 | €114,188 | +€8,422 | +8.0% |
| Deferred charges and accrued income | 490/1 | €22,762 | €26,235 | +€3,473 | +15.3% |
| Total equity and liabilities | 10/49 | €5,560,053 | €6,520,172 | +€960,119 | +17.3% |
| Equity | 10/15 | €899,994 | €1,148,180 | +€248,186 | +27.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €838,494 | €1,086,680 | +€248,186 | +29.6% |
| Non-distributable reserves | 130/1 | €56,200 | €56,200 | = | 0.0% |
| Legal reserve | 130 | €56,200 | €56,200 | = | 0.0% |
| Distributable reserves | 133 | €782,294 | €1,030,480 | +€248,186 | +31.7% |
| Amounts payable | 17/49 | €4,660,059 | €5,371,992 | +€711,932 | +15.3% |
| Amounts payable after more than one year | 17 | €229,013 | €190,583 | -€38,430 | -16.8% |
| Financial debts | 170/4 | €229,013 | €190,583 | -€38,430 | -16.8% |
| Credit institutions | 173 | €229,013 | €190,583 | -€38,430 | -16.8% |
| Amounts payable within one year | 42/48 | €4,431,047 | €5,181,409 | +€750,362 | +16.9% |
| Current portion of amounts payable after more than one year | 42 | €15,961 | €98,067 | +€82,106 | +514% |
| Financial debts | 43 | €2,536,497 | €2,250,814 | -€285,684 | -11.3% |
| Credit institutions | 430/8 | €2,536,497 | €2,250,814 | -€285,684 | -11.3% |
| Trade debts | 44 | €1,282,473 | €2,170,013 | +€887,540 | +69.2% |
| Suppliers | 440/4 | €1,282,473 | €2,170,013 | +€887,540 | +69.2% |
| Taxes, remuneration and social security | 45 | €65,500 | €130,407 | +€64,907 | +99.1% |
| Taxes | 450/3 | €7,856 | €63,225 | +€55,369 | +705% |
| Remuneration and social security | 454/9 | €57,644 | €67,182 | +€9,538 | +16.5% |
| Other amounts payable | 47/48 | €530,615 | €532,107 | +€1,493 | +0.3% |
| Operating income | 70/76A | €15,742,439 | €16,800,060 | +€1.1m | +6.7% |
| Turnover | 70 | €15,697,783 | €16,727,439 | +€1.0m | +6.6% |
| Other operating income | 74 | €44,656 | €72,621 | +€27,965 | +62.6% |
| Operating charges | 60/66A | €15,423,376 | €16,313,221 | +€889,844 | +5.8% |
| Goods for resale, raw materials and consumables | 60 | €11,207,944 | €11,202,980 | -€4,964 | 0.0% |
| Purchases | 600/8 | €11,348,593 | €10,826,114 | -€522,480 | -4.6% |
| Change in stocks: decrease (increase) | 609 | -€140,649 | €376,866 | +€517,516 | |
| Services and other goods | 61 | €3,537,355 | €4,364,402 | +€827,047 | +23.4% |
| Remuneration, social security and pensions | 62 | €449,350 | €501,445 | +€52,096 | +11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €198,391 | €223,630 | +€25,239 | +12.7% |
| Other operating charges | 640/8 | €30,336 | €20,763 | -€9,573 | -31.6% |
| Operating profit (loss) | 9901 | €319,063 | €486,839 | +€167,776 | +52.6% |
| Financial income | 75/76B | €7,961 | €7,402 | -€559 | -7.0% |
| Recurring financial income | 75 | €7,961 | €7,402 | -€559 | -7.0% |
| Income from current assets | 751 | €511 | €526 | +€15 | +3.0% |
| Other financial income | 752/9 | €7,450 | €6,876 | -€574 | -7.7% |
| Financial charges | 65/66B | €175,203 | €141,728 | -€33,475 | -19.1% |
| Recurring financial charges | 65 | €175,203 | €141,728 | -€33,475 | -19.1% |
| Debt charges | 650 | €137,071 | €104,329 | -€32,742 | -23.9% |
| Other financial charges | 652/9 | €38,132 | €37,400 | -€733 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €151,820 | €352,513 | +€200,693 | +132% |
| Income taxes | 67/77 | €56,484 | €104,327 | +€47,843 | +84.7% |
| Taxes | 670/3 | €56,484 | €104,327 | +€47,843 | +84.7% |
| Profit (loss) for the period | 9904 | €95,336 | €248,186 | +€152,850 | +160% |
| Profit (loss) for the period to be appropriated | 9905 | €95,336 | €248,186 | +€152,850 | +160% |
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 31 October 2026 via checked.be.