VLEESWAREN DE BAETS: 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.
VLEESWAREN DE BAETS
Largest movements
- Cash +€65,059
up €65,059 (+36.7%), from €177,178 to €242,237
mainly Net result for the year (+€55,462) and Depreciation (+€22,816)
- Tangible fixed assets -€18,952
down €18,952 (-13.5%), from €139,970 to €121,018
of which Plant, machinery and equipment: -€12,380
- Reserves +€55,462
up €55,462 (+17.4%), from €318,081 to €373,543
- Current portion of long-term debt -€20,000
down €20,000 (-100%), from €20,000 to €0
- Trade debts +€6,311
up €6,311 (+33.1%), from €19,087 to €25,398
- Tax, wage and social debts -€5,614
down €5,614 (-35.8%), from €15,678 to €10,064
of which Taxes: -€3,450
- Staff costs -€12,184
down €12,184 (-14.0%), from €86,997 to €74,814
- Taxes +€3,897
up €3,897 (+24.9%), from €15,676 to €19,574
- Depreciation -€2,986
down €2,986 (-11.6%), from €25,802 to €22,816
- Financial income -€2,183
down €2,183 (-76.6%), from €2,851 to €668
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €395,579 | €435,133 | +€39,554 | +10.0% |
| Fixed assets | 21/28 | €140,115 | €121,163 | -€18,952 | -13.5% |
| Tangible fixed assets | 22/27 | €139,970 | €121,018 | -€18,952 | -13.5% |
| Land and buildings | 22 | €50,823 | €45,279 | -€5,543 | -10.9% |
| Plant, machinery and equipment | 23 | €86,980 | €74,600 | -€12,380 | -14.2% |
| Furniture and vehicles | 24 | €2,168 | €1,138 | -€1,029 | -47.5% |
| Financial fixed assets | 28 | €146 | €146 | = | 0.0% |
| Current assets | 29/58 | €255,464 | €313,970 | +€58,507 | +22.9% |
| Stocks and contracts in progress | 3 | €9,166 | €6,815 | -€2,351 | -25.6% |
| Stocks | 30/36 | €9,166 | €6,815 | -€2,351 | -25.6% |
| Amounts receivable within one year | 40/41 | €65,317 | €61,500 | -€3,817 | -5.8% |
| Trade receivables | 40 | €57,056 | €58,450 | +€1,394 | +2.4% |
| Other amounts receivable | 41 | €8,261 | €3,050 | -€5,211 | -63.1% |
| Cash at bank and in hand | 54/58 | €177,178 | €242,237 | +€65,059 | +36.7% |
| Deferred charges and accrued income | 490/1 | €3,803 | €3,419 | -€385 | -10.1% |
| Total equity and liabilities | 10/49 | €395,579 | €435,133 | +€39,554 | +10.0% |
| Equity | 10/15 | €336,681 | €392,143 | +€55,462 | +16.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €318,081 | €373,543 | +€55,462 | +17.4% |
| Distributable reserves | 133 | €318,081 | €373,543 | +€55,462 | +17.4% |
| Amounts payable | 17/49 | €58,898 | €42,991 | -€15,908 | -27.0% |
| Amounts payable within one year | 42/48 | €56,080 | €37,768 | -€18,312 | -32.7% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €0 | -€20,000 | -100% |
| Trade debts | 44 | €19,087 | €25,398 | +€6,311 | +33.1% |
| Suppliers | 440/4 | €19,087 | €25,398 | +€6,311 | +33.1% |
| Taxes, remuneration and social security | 45 | €15,678 | €10,064 | -€5,614 | -35.8% |
| Taxes | 450/3 | €5,525 | €2,075 | -€3,450 | -62.5% |
| Remuneration and social security | 454/9 | €10,153 | €7,989 | -€2,164 | -21.3% |
| Other amounts payable | 47/48 | €1,315 | €2,307 | +€991 | +75.4% |
| Accrued charges and deferred income | 492/3 | €2,818 | €5,222 | +€2,404 | +85.3% |
| Remuneration, social security and pensions | 62 | €86,997 | €74,814 | -€12,184 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,802 | €22,816 | -€2,986 | -11.6% |
| Other operating charges | 640/8 | €944 | €968 | +€24 | +2.5% |
| Gross operating margin | 9900 | €172,908 | €173,779 | +€871 | +0.5% |
| Operating profit (loss) | 9901 | €59,165 | €75,181 | +€16,016 | +27.1% |
| Financial income | 75/76B | €2,851 | €668 | -€2,183 | -76.6% |
| Recurring financial income | 75 | €2,851 | €668 | -€2,183 | -76.6% |
| Financial charges | 65/66B | €1,739 | €813 | -€925 | -53.2% |
| Recurring financial charges | 65 | €1,739 | €813 | -€925 | -53.2% |
| Profit (loss) for the period before taxes | 9903 | €60,277 | €75,036 | +€14,758 | +24.5% |
| Income taxes | 67/77 | €15,676 | €19,574 | +€3,897 | +24.9% |
| Profit (loss) for the period | 9904 | €44,601 | €55,462 | +€10,861 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €44,601 | €55,462 | +€10,861 | +24.4% |
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 17 October 2026 via checked.be.