VLEESMARKT - CHICKEN EXPRESS: 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
VLEESMARKT - CHICKEN EXPRESS
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€15.8m
2024 · -€536,231-€15.3m
Equity
-€11.4m
2024 · €4.4m-€15.8m
Cash
€7,980
2024 · €52,281-€44,301
Balance sheet total
€14.3m
2024 · €36.8m-€22.5m
Largest movements
Assets
- Financial fixed assets -€22.1m
down €22.1m (-67.2%), from €32.8m to €10.8m
- Tangible fixed assets -€726,574
down €726,574 (-75.3%), from €965,537 to €238,962
of which Land and buildings: -€713,778
Equity and liabilities
- Profit (loss) carried forward -€12.2m
new in 2025: -€12.2m
- Debts after one year -€8.0m
down €8.0m (-25.2%), from €31.7m to €23.7m
- Reserves -€3.6m
down €3.6m (-100%), from €3.6m to €0
- Short-term financial debts +€1.0m
new in 2025: €1.0m
Income statement
- Financial charges +€15.7m
up €15.7m (+1,466%), from €1.1m to €16.7m
of which Non-recurring financial charges: +€16.1m
- Turnover +€500,000
up €500,000 (+208%), from €240,000 to €740,000
- Financial income -€192,541
down €192,541 (-53.3%), from €360,968 to €168,427
- Staff costs -€87,220
down €87,220 (-17.6%), from €495,498 to €408,278
- Depreciation -€23,960
down €23,960 (-49.3%), from €48,608 to €24,648
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
-€536,231
Turnover
+€500,000
Other operating income
-€11,660
Services and other goods
-€6,995
Staff costs
+€87,220
Depreciation
+€23,960
Other operating charges
+€1,547
Other operating items
-€1,926
Financial income
-€192,541
Financial charges
-€15.7m
Taxes
-€1,235
Result 2025
-€15.8m
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
-€15.6m
Investment
+€22.5m
Financing
-€7.0m
Cash 2024
€52,281
From operations (derived)
-€15.6m
Net result for the year
-€15.8m
Depreciation
+€24,648
Smaller working-capital items
-€95,526
Accrued charges and deferred income
+€295,397
Investment (derived)
+€22.5m
Investment in fixed assets (net)
+€22.8m
Current investments
-€264,095
Financing
-€7.0m
Debts after one year
-€8.0m
Short-term financial debts
+€1.0m
Cash 2025
€7,980
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €36,847,158 | €14,299,712 | -€22.5m | -61.2% |
| Fixed assets | 21/28 | €33,808,453 | €10,996,094 | -€22.8m | -67.5% |
| Tangible fixed assets | 22/27 | €965,537 | €238,962 | -€726,574 | -75.3% |
| Land and buildings | 22 | €921,561 | €207,783 | -€713,778 | -77.5% |
| Furniture and vehicles | 24 | €43,976 | €31,179 | -€12,797 | -29.1% |
| Financial fixed assets | 28 | €32,842,916 | €10,757,132 | -€22.1m | -67.2% |
| Affiliated companies | 280/1 | €32,842,916 | €10,757,132 | -€22.1m | -67.2% |
| Participating interests | 280 | €32,842,916 | €10,757,132 | -€22.1m | -67.2% |
| Current assets | 29/58 | €3,038,706 | €3,303,618 | +€264,913 | +8.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €12,905 | €57,850 | +€44,945 | +348% |
| Trade receivables | 40 | €3,176 | €47,419 | +€44,243 | +1,393% |
| Other amounts receivable | 41 | €9,729 | €10,431 | +€702 | +7.2% |
| Current investments | 50/53 | €2,972,700 | €3,236,795 | +€264,095 | +8.9% |
| Other investments | 51/53 | €2,972,700 | €3,236,795 | +€264,095 | +8.9% |
| Cash at bank and in hand | 54/58 | €52,281 | €7,980 | -€44,301 | -84.7% |
| Deferred charges and accrued income | 490/1 | €819 | €993 | +€174 | +21.2% |
| Total equity and liabilities | 10/49 | €36,847,158 | €14,299,712 | -€22.5m | -61.2% |
| Equity | 10/15 | €4,361,615 | -€11,441,041 | -€15.8m | |
| Contributions | 10/11 | €775,000 | €775,000 | = | 0.0% |
| Reserves | 13 | €3,586,615 | €0 | -€3.6m | -100% |
| Distributable reserves | 133 | €3,586,615 | €0 | -€3.6m | -100% |
| Profit (loss) carried forward | 14 | - | -€12,216,041 | -€12.2m | |
| Amounts payable | 17/49 | €32,485,544 | €25,740,753 | -€6.7m | -20.8% |
| Amounts payable after more than one year | 17 | €31,668,785 | €23,679,004 | -€8.0m | -25.2% |
| Other amounts payable | 178/9 | €31,668,785 | €23,679,004 | -€8.0m | -25.2% |
| Amounts payable within one year | 42/48 | €149,413 | €1,099,006 | +€949,593 | +636% |
| Financial debts | 43 | - | €1,000,000 | +€1.0m | |
| Credit institutions | 430/8 | - | €1,000,000 | +€1.0m | |
| Trade debts | 44 | €48,721 | €11,955 | -€36,766 | -75.5% |
| Suppliers | 440/4 | €48,721 | €11,955 | -€36,766 | -75.5% |
| Taxes, remuneration and social security | 45 | €98,557 | €83,418 | -€15,139 | -15.4% |
| Taxes | 450/3 | €44,013 | €8,630 | -€35,383 | -80.4% |
| Remuneration and social security | 454/9 | €54,544 | €74,789 | +€20,244 | +37.1% |
| Other amounts payable | 47/48 | €2,135 | €3,632 | +€1,497 | +70.2% |
| Accrued charges and deferred income | 492/3 | €667,346 | €962,744 | +€295,397 | +44.3% |
| Operating income | 70/76A | €788,628 | €1,276,968 | +€488,340 | +61.9% |
| Turnover | 70 | €240,000 | €740,000 | +€500,000 | +208% |
| Other operating income | 74 | €548,628 | €536,968 | -€11,660 | -2.1% |
| Operating charges | 60/66A | €613,801 | €509,995 | -€103,806 | -16.9% |
| Services and other goods | 61 | €55,223 | €62,218 | +€6,995 | +12.7% |
| Remuneration, social security and pensions | 62 | €495,498 | €408,278 | -€87,220 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,608 | €24,648 | -€23,960 | -49.3% |
| Other operating charges | 640/8 | €14,472 | €12,924 | -€1,547 | -10.7% |
| Non-recurring operating charges | 66A | - | €1,926 | +€1,926 | |
| Operating profit (loss) | 9901 | €174,827 | €766,973 | +€592,146 | +339% |
| Financial income | 75/76B | €360,968 | €168,427 | -€192,541 | -53.3% |
| Recurring financial income | 75 | €360,968 | €168,427 | -€192,541 | -53.3% |
| Income from current assets | 751 | €37,289 | €36,563 | -€727 | -1.9% |
| Other financial income | 752/9 | €323,679 | €131,864 | -€191,814 | -59.3% |
| Financial charges | 65/66B | €1,068,252 | €16,733,047 | +€15.7m | +1,466% |
| Recurring financial charges | 65 | €1,068,252 | €583,231 | -€485,021 | -45.4% |
| Debt charges | 650 | €905,661 | €406,336 | -€499,324 | -55.1% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €6,636 | €14,130 | +€7,495 | +113% |
| Other financial charges | 652/9 | €155,956 | €162,764 | +€6,808 | +4.4% |
| Non-recurring financial charges | 66B | - | €16,149,816 | +€16.1m | |
| Profit (loss) for the period before taxes | 9903 | -€532,457 | -€15,797,647 | -€15.3m | -2,867% |
| Income taxes | 67/77 | €3,774 | €5,009 | +€1,235 | +32.7% |
| Taxes | 670/3 | €3,774 | €5,009 | +€1,235 | +32.7% |
| Profit (loss) for the period | 9904 | -€536,231 | -€15,802,656 | -€15.3m | -2,847% |
| Profit (loss) for the period to be appropriated | 9905 | -€536,231 | -€15,802,656 | -€15.3m | -2,847% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.