BELMAX CONSTRUCTION
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 03-07-2026 at the NBB all 3 filings
Every figure per financial year
The operating result for 2025 is over 11 times that of 2024 and the highest since 2023. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Other operating charges640/8 | €195 | €3,430 | €1,553 | ▼ 54.7% |
| Gross operating margin9900 | €3,989 | €5,545 | €25,568 | ▲ 361% |
| Operating profit (loss)9901 | €3,794 | €2,116 | €24,016 | ▲ 11× |
| Financial charges65/66B | €52 | €1,768 | €752 | ▼ 57.5% |
| Recurring financial charges65 | €52 | €1,768 | €752 | ▼ 57.5% |
| Profit (loss) for the period before taxes9903 | €3,742 | €347 | €23,264 | ▲ 67× |
| Income taxes67/77 | €959 | €760 | €5,011 | ▲ 560% |
| Profit (loss) for the period9904 | €2,783 | -€412 | €18,252 | - |
| Profit (loss) for the period to be appropriated9905 | €2,783 | -€412 | €18,252 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €14,712 | €61,653 | €98,147 | ▲ 59.2% |
| Current assets29/58 | €14,712 | €61,653 | €98,147 | ▲ 59.2% |
| Amounts receivable within one year40/41 | €11,294 | €39,209 | €84,935 | ▲ 117% |
| Trade receivables40 | €9,920 | €39,209 | €83,123 | ▲ 112% |
| Other amounts receivable41 | €1,374 | - | €1,812 | - |
| Cash at bank and in hand54/58 | €3,419 | €11,872 | €13,212 | ▲ 11.3% |
| Deferred charges and accrued income490/1 | - | €10,572 | - | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €14,712 | €61,653 | €98,147 | ▲ 59.2% |
| Equity10/15 | €3,783 | €3,371 | €21,623 | ▲ 541% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | = |
| Profit (loss) carried forward14 | €2,783 | €2,371 | €20,623 | ▲ 770% |
| Amounts payable17/49 | €10,929 | €58,282 | €76,524 | ▲ 31.3% |
| Amounts payable within one year42/48 | €10,929 | €49,144 | €70,574 | ▲ 43.6% |
| Trade debts44 | €2,427 | €32,799 | €50,192 | ▲ 53.0% |
| Suppliers440/4 | €2,427 | €32,799 | €50,192 | ▲ 53.0% |
| Taxes, remuneration and social security45 | €7,784 | €13,368 | €19,398 | ▲ 45.1% |
| Taxes450/3 | €2,384 | €5,768 | €6,698 | ▲ 16.1% |
| Remuneration and social security454/9 | €5,400 | €7,600 | €12,700 | ▲ 67.1% |
| Other amounts payable47/48 | €719 | €2,977 | €984 | ▼ 67.0% |
| Accrued charges and deferred income492/3 | - | €9,138 | €5,950 | ▼ 34.9% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,783 | -€412 | €18,252 | - |
| Operating cash flow (approximation) | €2,783 | -€412 | €18,252 | - |
| Change in cash | - | €8,453 | €1,340 | ▼ 84.2% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 7,976 companies had the same profile as BELMAX CONSTRUCTION has now. Two years later, 94.3% were still going and 3.6% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BELMAX CONSTRUCTION itself: 2.0% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 7,976 companies, not a prediction for BELMAX CONSTRUCTION. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.