REAL: what changed
Two fiscal 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
REAL
NACE 10.510, Manufacture of food products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€257,359
2024 · €550,723-€293,364
Equity
€1.9m
2024 · €2.1m-€118,799
Cash
€150,934
2024 · €395,847-€244,914
Balance sheet total
€5.5m
2024 · €5.8m-€268,176
Largest movements
Assets
- Cash -€244,914
down €244,914 (-61.9%), from €395,847 to €150,934
mainly Contributions, distributions and other (-€376,158) and Receivables within one year (-€163,870)
- Receivables within one year +€163,870
up €163,870 (+4.6%), from €3.6m to €3.7m
of which Other amounts receivable: +€124,175
- Tangible fixed assets -€147,250
down €147,250 (-28.2%), from €522,512 to €375,262
Equity and liabilities
- Other debts -€125,000
down €125,000 (-22.4%), from €557,826 to €432,826
- Profit (loss) carried forward -€117,641
down €117,641 (-7.2%), from €1.6m to €1.5m
Income statement
- Turnover -€981,099
down €981,099 (-2.8%), from €34.6m to €33.6m
- Goods and materials -€607,730
down €607,730 (-2.0%), from €30.0m to €29.4m
of which Purchases: -€535,357
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
€550,723
Turnover
-€981,099
Other operating income
+€5,951
Goods and materials
+€607,730
Services and other goods
+€15,821
Staff costs
-€74,693
Depreciation
+€22,348
Write-downs
-€2,148
Other operating charges
+€18,289
Other operating items
-€8,505
Financial income
+€11,230
Financial charges
-€4,505
Taxes
+€96,218
Result 2025
€257,359
Cash bridge derived
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
+€166,464
Investment
+€15,619
Financing
-€426,996
Cash 2024
€395,847
From operations (derived)
+€166,464
Net result for the year
+€257,359
Depreciation
+€131,631
Stocks and contracts
+€38,933
Receivables within one year
-€163,870
Deferred charges and accrued income
+€948
Trade debts
+€50,579
Tax, wage and social debts
-€24,117
Other debts
-€125,000
Investment (derived)
+€15,619
Investment in fixed assets (net)
+€15,619
Financing
-€426,996
Debts after one year
-€17,059
Current portion of long-term debt
-€33,779
Contributions, distributions and other
-€376,158
Cash 2025
€150,934
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,809,106 | €5,540,931 | -€268,176 | -4.6% |
| Fixed assets | 21/28 | €522,512 | €375,262 | -€147,250 | -28.2% |
| Tangible fixed assets | 22/27 | €522,512 | €375,262 | -€147,250 | -28.2% |
| Plant, machinery and equipment | 23 | €141,480 | €95,060 | -€46,420 | -32.8% |
| Furniture and vehicles | 24 | €81,210 | €30,663 | -€50,547 | -62.2% |
| Other tangible fixed assets | 26 | €299,822 | €249,538 | -€50,284 | -16.8% |
| Current assets | 29/58 | €5,286,594 | €5,165,669 | -€120,925 | -2.3% |
| Stocks and contracts in progress | 3 | €1,308,648 | €1,269,715 | -€38,933 | -3.0% |
| Stocks | 30/36 | €1,308,648 | €1,269,715 | -€38,933 | -3.0% |
| Goods purchased for resale | 34 | €1,308,648 | €1,269,715 | -€38,933 | -3.0% |
| Amounts receivable within one year | 40/41 | €3,566,691 | €3,730,561 | +€163,870 | +4.6% |
| Trade receivables | 40 | €3,280,562 | €3,320,258 | +€39,696 | +1.2% |
| Other amounts receivable | 41 | €286,128 | €410,303 | +€124,175 | +43.4% |
| Cash at bank and in hand | 54/58 | €395,847 | €150,934 | -€244,914 | -61.9% |
| Deferred charges and accrued income | 490/1 | €15,408 | €14,459 | -€948 | -6.2% |
| Total equity and liabilities | 10/49 | €5,809,106 | €5,540,931 | -€268,176 | -4.6% |
| Equity | 10/15 | €2,052,381 | €1,933,582 | -€118,799 | -5.8% |
| Contributions | 10/11 | €164,492 | €164,492 | = | 0.0% |
| Capital | 10 | €164,492 | €164,492 | = | 0.0% |
| Issued capital | 100 | €164,492 | €164,492 | = | 0.0% |
| Reserves | 13 | €235,890 | €235,890 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,449 | €16,449 | = | 0.0% |
| Legal reserve | 130 | €16,449 | €16,449 | = | 0.0% |
| Tax-exempt reserves | 132 | €54,948 | €54,948 | = | 0.0% |
| Distributable reserves | 133 | €164,492 | €164,492 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,644,876 | €1,527,235 | -€117,641 | -7.2% |
| Investment grants | 15 | €7,123 | €5,965 | -€1,158 | -16.3% |
| Amounts payable | 17/49 | €3,756,726 | €3,607,349 | -€149,376 | -4.0% |
| Amounts payable after more than one year | 17 | €17,059 | €0 | -€17,059 | -100.0% |
| Financial debts | 170/4 | €17,059 | €0 | -€17,059 | -100.0% |
| Credit institutions | 173 | €17,059 | €0 | -€17,059 | -100.0% |
| Amounts payable within one year | 42/48 | €3,739,666 | €3,607,349 | -€132,317 | -3.5% |
| Current portion of amounts payable after more than one year | 42 | €50,838 | €17,059 | -€33,779 | -66.4% |
| Trade debts | 44 | €2,699,811 | €2,750,390 | +€50,579 | +1.9% |
| Suppliers | 440/4 | €2,699,811 | €2,750,390 | +€50,579 | +1.9% |
| Taxes, remuneration and social security | 45 | €431,191 | €407,074 | -€24,117 | -5.6% |
| Taxes | 450/3 | €149,517 | €115,848 | -€33,670 | -22.5% |
| Remuneration and social security | 454/9 | €281,674 | €291,227 | +€9,553 | +3.4% |
| Other amounts payable | 47/48 | €557,826 | €432,826 | -€125,000 | -22.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | €34,744,180 | €33,775,129 | -€969,051 | -2.8% |
| Turnover | 70 | €34,613,357 | €33,632,258 | -€981,099 | -2.8% |
| Other operating income | 74 | €127,829 | €133,780 | +€5,951 | +4.7% |
| Non-recurring operating income | 76A | €2,994 | €9,091 | +€6,097 | +203.7% |
| Operating charges | 60/66A | €34,006,348 | €33,433,603 | -€572,745 | -1.7% |
| Goods for resale, raw materials and consumables | 60 | €30,015,887 | €29,408,156 | -€607,730 | -2.0% |
| Purchases | 600/8 | €29,904,580 | €29,369,223 | -€535,357 | -1.8% |
| Change in stocks: decrease (increase) | 609 | €111,307 | €38,933 | -€72,374 | -65.0% |
| Services and other goods | 61 | €1,979,026 | €1,963,205 | -€15,821 | -0.8% |
| Remuneration, social security and pensions | 62 | €1,821,201 | €1,895,894 | +€74,693 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €153,979 | €131,631 | -€22,348 | -14.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€13,265 | -€11,117 | +€2,148 | +16.2% |
| Other operating charges | 640/8 | €49,480 | €31,191 | -€18,289 | -37.0% |
| Non-recurring operating charges | 66A | €40 | €14,642 | +€14,602 | +36504.5% |
| Operating profit (loss) | 9901 | €737,832 | €341,525 | -€396,306 | -53.7% |
| Financial income | 75/76B | €71,865 | €83,095 | +€11,230 | +15.6% |
| Recurring financial income | 75 | €71,865 | €83,095 | +€11,230 | +15.6% |
| Income from financial fixed assets | 750 | €5,041 | €13,695 | +€8,653 | +171.6% |
| Other financial income | 752/9 | €66,824 | €69,400 | +€2,576 | +3.9% |
| Financial charges | 65/66B | €69,526 | €74,032 | +€4,505 | +6.5% |
| Recurring financial charges | 65 | €69,526 | €74,032 | +€4,505 | +6.5% |
| Debt charges | 650 | €972 | €448 | -€524 | -53.9% |
| Other financial charges | 652/9 | €68,555 | €73,584 | +€5,029 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €740,171 | €350,589 | -€389,582 | -52.6% |
| Income taxes | 67/77 | €189,448 | €93,230 | -€96,218 | -50.8% |
| Taxes | 670/3 | €189,448 | €93,230 | -€96,218 | -50.8% |
| Profit (loss) for the period | 9904 | €550,723 | €257,359 | -€293,364 | -53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €550,723 | €257,359 | -€293,364 | -53.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.