TEUGELS: 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
TEUGELS
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
€3.3m
2024 · €3.2m+€147,757
Equity
€18.0m
2024 · €15.9m+€2.1m
Cash
€193,328
2024 · €337,216-€143,888
Balance sheet total
€30.5m
2024 · €29.9m+€579,623
Largest movements
Assets
- Receivables within one year +€1.0m
up €1.0m (+7.6%), from €13.7m to €14.7m
of which Trade receivables: +€936,591
- Tangible fixed assets -€488,617
down €488,617 (-13.5%), from €3.6m to €3.1m
Equity and liabilities
- Profit (loss) carried forward +€1.1m
up €1.1m (+12.4%), from €8.6m to €9.7m
- Reserves +€997,770
up €997,770 (+17.0%), from €5.9m to €6.9m
of which Distributable reserves: +€1.7m
- Current portion of long-term debt -€832,904
down €832,904 (-78.5%), from €1.1m to €227,743
- Other debts -€799,875
down €799,875 (-39.0%), from €2.1m to €1.3m
- Trade debts +€597,625
up €597,625 (+13.3%), from €4.5m to €5.1m
Income statement
- Goods and materials -€1.8m
down €1.8m (-3.8%), from €47.6m to €45.7m
of which Purchases: -€3.5m
- Turnover -€1.5m
down €1.5m (-2.6%), from €60.1m to €58.5m
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
€3.2m
Turnover
-€1.5m
Other operating income
+€25,259
Goods and materials
+€1.8m
Services and other goods
-€152,366
Staff costs
-€133,940
Depreciation
+€2,721
Write-downs
-€101,549
Provisions
-€152,933
Other operating charges
+€291,024
Other operating items
-€50,689
Financial income
+€12,913
Financial charges
+€14,405
Taxes
+€111,226
Result 2025
€3.3m
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
+€2.3m
Investment
-€171,598
Financing
-€2.3m
Cash 2024
€337,216
From operations (derived)
+€2.3m
Net result for the year
+€3.3m
Depreciation
+€685,360
Stocks and contracts
-€192,142
Receivables within one year
-€1.0m
Smaller working-capital items
-€5,297
Trade debts
+€597,625
Tax, wage and social debts
-€237,871
Other debts
-€799,875
Accrued charges and deferred income
-€24,720
Investment (derived)
-€171,598
Investment in fixed assets (net)
-€171,598
Financing
-€2.3m
Debts after one year
-€227,742
Current portion of long-term debt
-€832,904
Short-term financial debts
+€41,202
Contributions, distributions and other
-€1.3m
Cash 2025
€193,328
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,873,803 | €30,453,426 | +€579,623 | +1.9% |
| Fixed assets | 21/28 | €13,187,283 | €12,673,521 | -€513,762 | -3.9% |
| Intangible fixed assets | 21 | €81,090 | €56,080 | -€25,010 | -30.8% |
| Tangible fixed assets | 22/27 | €3,613,114 | €3,124,497 | -€488,617 | -13.5% |
| Plant, machinery and equipment | 23 | €712,510 | €523,352 | -€189,158 | -26.5% |
| Furniture and vehicles | 24 | €215,758 | €108,452 | -€107,305 | -49.7% |
| Leasing and similar rights | 25 | €1,826,229 | €1,601,006 | -€225,223 | -12.3% |
| Other tangible fixed assets | 26 | €808,618 | €891,688 | +€83,070 | +10.3% |
| Assets under construction and advance payments | 27 | €50,000 | €0 | -€50,000 | -100% |
| Financial fixed assets | 28 | €9,493,079 | €9,492,944 | -€135 | 0.0% |
| Affiliated companies | 280/1 | €9,460,254 | €9,460,254 | = | 0.0% |
| Participating interests | 280 | €9,460,254 | €9,460,254 | = | 0.0% |
| Other financial fixed assets | 284/8 | €32,825 | €32,690 | -€135 | -0.4% |
| Amounts receivable and cash guarantees | 285/8 | €32,825 | €32,690 | -€135 | -0.4% |
| Current assets | 29/58 | €16,686,520 | €17,779,905 | +€1.1m | +6.6% |
| Stocks and contracts in progress | 3 | €2,445,190 | €2,637,332 | +€192,142 | +7.9% |
| Stocks | 30/36 | €2,445,190 | €2,637,332 | +€192,142 | +7.9% |
| Goods purchased for resale | 34 | €2,445,190 | €2,637,332 | +€192,142 | +7.9% |
| Amounts receivable within one year | 40/41 | €13,653,958 | €14,694,721 | +€1.0m | +7.6% |
| Trade receivables | 40 | €6,567,124 | €7,503,715 | +€936,591 | +14.3% |
| Other amounts receivable | 41 | €7,086,835 | €7,191,007 | +€104,172 | +1.5% |
| Current investments | 50/53 | €229,097 | €229,097 | = | 0.0% |
| Other investments | 51/53 | €229,097 | €229,097 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €337,216 | €193,328 | -€143,888 | -42.7% |
| Deferred charges and accrued income | 490/1 | €21,059 | €25,427 | +€4,368 | +20.7% |
| Total equity and liabilities | 10/49 | €29,873,803 | €30,453,426 | +€579,623 | +1.9% |
| Equity | 10/15 | €15,889,935 | €17,954,772 | +€2.1m | +13.0% |
| Contributions | 10/11 | €1,411,116 | €1,411,116 | = | 0.0% |
| Reserves | 13 | €5,869,367 | €6,867,137 | +€997,770 | +17.0% |
| Tax-exempt reserves | 132 | €3,102,770 | €2,416,540 | -€686,230 | -22.1% |
| Distributable reserves | 133 | €2,766,597 | €4,450,597 | +€1.7m | +60.9% |
| Profit (loss) carried forward | 14 | €8,593,589 | €9,662,867 | +€1.1m | +12.4% |
| Investment grants | 15 | €15,863 | €13,653 | -€2,211 | -13.9% |
| Provisions and deferred taxes | 16 | €6,663 | €5,735 | -€929 | -13.9% |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Deferred taxes | 168 | €6,663 | €5,735 | -€929 | -13.9% |
| Amounts payable | 17/49 | €13,977,205 | €12,492,920 | -€1.5m | -10.6% |
| Amounts payable after more than one year | 17 | €1,751,992 | €1,524,250 | -€227,742 | -13.0% |
| Financial debts | 170/4 | €1,751,992 | €1,524,250 | -€227,742 | -13.0% |
| Leasing and similar obligations | 172 | €1,751,992 | €1,524,250 | -€227,742 | -13.0% |
| Credit institutions | 173 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €12,157,952 | €10,926,129 | -€1.2m | -10.1% |
| Current portion of amounts payable after more than one year | 42 | €1,060,646 | €227,743 | -€832,904 | -78.5% |
| Financial debts | 43 | €3,994,851 | €4,036,053 | +€41,202 | +1.0% |
| Credit institutions | 430/8 | €3,994,851 | €4,036,053 | +€41,202 | +1.0% |
| Trade debts | 44 | €4,501,544 | €5,099,168 | +€597,625 | +13.3% |
| Suppliers | 440/4 | €4,501,544 | €5,099,168 | +€597,625 | +13.3% |
| Taxes, remuneration and social security | 45 | €549,212 | €311,341 | -€237,871 | -43.3% |
| Taxes | 450/3 | €341,773 | €18,613 | -€323,160 | -94.6% |
| Remuneration and social security | 454/9 | €207,439 | €292,728 | +€85,289 | +41.1% |
| Other amounts payable | 47/48 | €2,051,700 | €1,251,824 | -€799,875 | -39.0% |
| Accrued charges and deferred income | 492/3 | €67,261 | €42,541 | -€24,720 | -36.8% |
| Operating income | 70/76A | €61,040,968 | €59,476,596 | -€1.6m | -2.6% |
| Turnover | 70 | €60,086,702 | €58,547,759 | -€1.5m | -2.6% |
| Other operating income | 74 | €903,577 | €928,837 | +€25,259 | +2.8% |
| Non-recurring operating income | 76A | €50,689 | €0 | -€50,689 | -100% |
| Operating charges | 60/66A | €56,863,695 | €55,290,109 | -€1.6m | -2.8% |
| Goods for resale, raw materials and consumables | 60 | €47,551,478 | €45,730,849 | -€1.8m | -3.8% |
| Purchases | 600/8 | €49,403,959 | €45,922,991 | -€3.5m | -7.0% |
| Change in stocks: decrease (increase) | 609 | -€1,852,481 | -€192,142 | +€1.7m | +89.6% |
| Services and other goods | 61 | €6,619,000 | €6,771,367 | +€152,366 | +2.3% |
| Remuneration, social security and pensions | 62 | €1,822,811 | €1,956,751 | +€133,940 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €688,081 | €685,360 | -€2,721 | -0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€29,882 | €71,667 | +€101,549 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€152,933 | €0 | +€152,933 | |
| Other operating charges | 640/8 | €365,140 | €74,116 | -€291,024 | -79.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €4,177,274 | €4,186,487 | +€9,213 | +0.2% |
| Financial income | 75/76B | €115,222 | €128,135 | +€12,913 | +11.2% |
| Recurring financial income | 75 | €115,222 | €128,135 | +€12,913 | +11.2% |
| Income from current assets | 751 | €8,583 | €123,573 | +€114,990 | +1,340% |
| Other financial income | 752/9 | €106,639 | €4,562 | -€102,077 | -95.7% |
| Financial charges | 65/66B | €313,984 | €299,579 | -€14,405 | -4.6% |
| Recurring financial charges | 65 | €313,984 | €299,579 | -€14,405 | -4.6% |
| Debt charges | 650 | €294,099 | €288,766 | -€5,333 | -1.8% |
| Other financial charges | 652/9 | €19,885 | €10,813 | -€9,072 | -45.6% |
| Profit (loss) for the period before taxes | 9903 | €3,978,512 | €4,015,044 | +€36,532 | +0.9% |
| Transfer from deferred taxes | 780 | €929 | €929 | = | 0.0% |
| Income taxes | 67/77 | €810,150 | €698,924 | -€111,226 | -13.7% |
| Taxes | 670/3 | €810,150 | €698,924 | -€111,226 | -13.7% |
| Profit (loss) for the period | 9904 | €3,169,291 | €3,317,048 | +€147,757 | +4.7% |
| Transfer from tax-exempt reserves | 789 | €1,515,300 | €1,684,000 | +€168,700 | +11.1% |
| Transfer to tax-exempt reserves | 689 | €997,770 | €997,770 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,686,821 | €4,003,278 | +€316,457 | +8.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.