Begu Construct: 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.
Begu Construct
Largest movements
- Tangible fixed assets +€289,243
up €289,243 (+1,419%), from €20,388 to €309,631
of which Land and buildings: +€291,897
- Stocks and contracts -€173,998
down €173,998 (-100%), from €173,998 to €0
of which Stocks: -€173,998
- Cash +€12,868
up €12,868 (+400%), from €3,217 to €16,084
mainly Stocks and contracts (+€173,998) and Debts after one year (+€103,552)
- Debts after one year +€103,552
up €103,552 (+61.6%), from €167,975 to €271,527
- Reserves +€14,415
up €14,415 (+92.3%), from €15,615 to €30,030
- Tax, wage and social debts +€5,400
up €5,400 (+45.3%), from €11,921 to €17,321
of which Remuneration and social security: +€5,703
- Gross operating margin +€38,182
up €38,182 (+66.6%), from €57,309 to €95,491
- Staff costs +€6,752
up €6,752 (+18.9%), from €35,767 to €42,519
- Taxes +€5,934
up €5,934 (+209%), from €2,842 to €8,776
- Depreciation +€5,844
up €5,844 (+43.0%), from €13,580 to €19,424
- Financial charges +€2,001
up €2,001 (+41.7%), from €4,800 to €6,801
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 | €219,326 | €344,483 | +€125,156 | +57.1% |
| Fixed assets | 21/28 | €20,388 | €309,631 | +€289,243 | +1,419% |
| Tangible fixed assets | 22/27 | €20,388 | €309,631 | +€289,243 | +1,419% |
| Land and buildings | 22 | €0 | €291,897 | +€291,897 | |
| Plant, machinery and equipment | 23 | €773 | €1,049 | +€276 | +35.7% |
| Furniture and vehicles | 24 | €19,615 | €16,685 | -€2,930 | -14.9% |
| Current assets | 29/58 | €198,938 | €34,852 | -€164,086 | -82.5% |
| Stocks and contracts in progress | 3 | €173,998 | €0 | -€173,998 | -100% |
| Stocks | 30/36 | €173,998 | €0 | -€173,998 | -100% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €18,818 | €15,887 | -€2,930 | -15.6% |
| Trade receivables | 40 | €16,410 | €15,355 | -€1,055 | -6.4% |
| Other amounts receivable | 41 | €2,408 | €532 | -€1,875 | -77.9% |
| Cash at bank and in hand | 54/58 | €3,217 | €16,084 | +€12,868 | +400% |
| Deferred charges and accrued income | 490/1 | €2,906 | €2,880 | -€26 | -0.9% |
| Total equity and liabilities | 10/49 | €219,326 | €344,483 | +€125,156 | +57.1% |
| Equity | 10/15 | €20,615 | €35,030 | +€14,415 | +69.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €15,615 | €30,030 | +€14,415 | +92.3% |
| Distributable reserves | 133 | €15,615 | €30,030 | +€14,415 | +92.3% |
| Amounts payable | 17/49 | €198,712 | €309,453 | +€110,741 | +55.7% |
| Amounts payable after more than one year | 17 | €167,975 | €271,527 | +€103,552 | +61.6% |
| Financial debts | 170/4 | €167,975 | €271,527 | +€103,552 | +61.6% |
| Amounts payable within one year | 42/48 | €28,519 | €35,638 | +€7,119 | +25.0% |
| Current portion of amounts payable after more than one year | 42 | €7,699 | €11,054 | +€3,355 | +43.6% |
| Trade debts | 44 | €8,898 | €7,262 | -€1,636 | -18.4% |
| Suppliers | 440/4 | €8,898 | €7,262 | -€1,636 | -18.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €11,921 | €17,321 | +€5,400 | +45.3% |
| Taxes | 450/3 | €11,921 | €11,618 | -€303 | -2.5% |
| Remuneration and social security | 454/9 | - | €5,703 | +€5,703 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €2,218 | €2,288 | +€70 | +3.2% |
| Remuneration, social security and pensions | 62 | €35,767 | €42,519 | +€6,752 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,580 | €19,424 | +€5,844 | +43.0% |
| Other operating charges | 640/8 | €2,495 | €3,561 | +€1,065 | +42.7% |
| Gross operating margin | 9900 | €57,309 | €95,491 | +€38,182 | +66.6% |
| Operating profit (loss) | 9901 | €5,466 | €29,987 | +€24,520 | +449% |
| Financial income | 75/76B | €5 | €5 | -€0 | -5.3% |
| Recurring financial income | 75 | €5 | €5 | -€0 | -5.3% |
| Financial charges | 65/66B | €4,800 | €6,801 | +€2,001 | +41.7% |
| Recurring financial charges | 65 | €4,800 | €6,801 | +€2,001 | +41.7% |
| Profit (loss) for the period before taxes | 9903 | €672 | €23,191 | +€22,519 | +3,350% |
| Income taxes | 67/77 | €2,842 | €8,776 | +€5,934 | +209% |
| Profit (loss) for the period | 9904 | -€2,170 | €14,415 | +€16,585 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,170 | €14,415 | +€16,585 |
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 19 October 2026 via checked.be.