BALCOP: 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.
BALCOP
Largest movements
- Receivables within one year +€651,756
up €651,756 (+257.0%), from €253,583 to €905,339
of which Trade receivables: +€538,855
- Deferred charges and accrued income -€103,145
down €103,145 (-98.7%), from €104,526 to €1,381
- Stocks and contracts +€78,867
up €78,867 (+21.4%), from €368,250 to €447,117
- Trade debts +€576,376
up €576,376 (+893.2%), from €64,527 to €640,903
- Profit (loss) carried forward +€60,628
up €60,628 (+25.8%), from €234,746 to €295,374
- Tax, wage and social debts -€28,847
down €28,847 (-52.0%), from €55,447 to €26,601
- Debts after one year +€14,937
up €14,937 (+3.3%), from €453,447 to €468,384
of which Financial debts: +€14,937
- Gross operating margin +€87,345
up €87,345 (+185.4%), from €47,121 to €134,466
- Taxes +€35,409
up €35,409, from €0 to €35,409
- Financial charges +€13,259
up €13,259 (+65.6%), from €20,225 to €33,484
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €873,602 | €1,486,161 | +€612,559 | +70.1% |
| Fixed assets | 21/28 | €138,976 | €132,154 | -€6,822 | -4.9% |
| Tangible fixed assets | 22/27 | €132,976 | €126,154 | -€6,822 | -5.1% |
| Land and buildings | 22 | €129,390 | €125,357 | -€4,033 | -3.1% |
| Furniture and vehicles | 24 | €3,586 | €797 | -€2,789 | -77.8% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €734,627 | €1,354,007 | +€619,381 | +84.3% |
| Stocks and contracts in progress | 3 | €368,250 | €447,117 | +€78,867 | +21.4% |
| Stocks | 30/36 | €368,250 | €447,117 | +€78,867 | +21.4% |
| Amounts receivable within one year | 40/41 | €253,583 | €905,339 | +€651,756 | +257.0% |
| Trade receivables | 40 | €198,292 | €737,147 | +€538,855 | +271.7% |
| Other amounts receivable | 41 | €55,291 | €168,192 | +€112,901 | +204.2% |
| Cash at bank and in hand | 54/58 | €8,268 | €170 | -€8,097 | -97.9% |
| Deferred charges and accrued income | 490/1 | €104,526 | €1,381 | -€103,145 | -98.7% |
| Total equity and liabilities | 10/49 | €873,602 | €1,486,161 | +€612,559 | +70.1% |
| Equity | 10/15 | €239,746 | €300,374 | +€60,628 | +25.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €234,746 | €295,374 | +€60,628 | +25.8% |
| Amounts payable | 17/49 | €633,856 | €1,185,787 | +€551,930 | +87.1% |
| Amounts payable after more than one year | 17 | €453,447 | €468,384 | +€14,937 | +3.3% |
| Financial debts | 170/4 | €450,897 | €465,834 | +€14,937 | +3.3% |
| Other amounts payable | 178/9 | €2,550 | €2,550 | = | 0.0% |
| Amounts payable within one year | 42/48 | €180,409 | €717,403 | +€536,993 | +297.7% |
| Current portion of amounts payable after more than one year | 42 | €14,904 | €16,576 | +€1,672 | +11.2% |
| Financial debts | 43 | €962 | €3,323 | +€2,361 | +245.4% |
| Credit institutions | 430/8 | €962 | €3,323 | +€2,361 | +245.4% |
| Trade debts | 44 | €64,527 | €640,903 | +€576,376 | +893.2% |
| Suppliers | 440/4 | €64,527 | €640,903 | +€576,376 | +893.2% |
| Advances received on contracts in progress | 46 | €28,000 | €25,000 | -€3,000 | -10.7% |
| Taxes, remuneration and social security | 45 | €55,447 | €26,601 | -€28,847 | -52.0% |
| Taxes | 450/3 | €55,447 | €26,601 | -€28,847 | -52.0% |
| Other amounts payable | 47/48 | €16,570 | €5,000 | -€11,570 | -69.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,182 | €6,822 | -€360 | -5.0% |
| Other operating charges | 640/8 | €2,595 | €1,938 | -€657 | -25.3% |
| Gross operating margin | 9900 | €47,121 | €134,466 | +€87,345 | +185.4% |
| Operating profit (loss) | 9901 | €37,344 | €125,706 | +€88,362 | +236.6% |
| Financial income | 75/76B | €2,450 | €2,599 | +€149 | +6.1% |
| Recurring financial income | 75 | €2,450 | €2,599 | +€149 | +6.1% |
| Financial charges | 65/66B | €20,225 | €33,484 | +€13,259 | +65.6% |
| Recurring financial charges | 65 | €20,225 | €33,484 | +€13,259 | +65.6% |
| Profit (loss) for the period before taxes | 9903 | €19,569 | €94,821 | +€75,252 | +384.5% |
| Income taxes | 67/77 | €0 | €35,409 | +€35,409 | |
| Profit (loss) for the period | 9904 | €19,569 | €59,412 | +€39,843 | +203.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,569 | €59,412 | +€39,843 | +203.6% |
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 29 September 2026 via checked.be.