BELCONSTRUCT N.P.: 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.
BELCONSTRUCT N.P.
Largest movements
- Tangible fixed assets -€10,556
down €10,556 (-10.6%), from €99,583 to €89,028
of which Land and buildings: -€7,724
- Receivables within one year -€2,502
down €2,502 (-7.1%), from €35,071 to €32,569
of which Trade receivables: -€4,410
- Profit (loss) carried forward -€19,175
down €19,175 (-43.1%), from €44,486 to €25,312
- Tax, wage and social debts +€6,432
up €6,432 (+54.9%), from €11,707 to €18,139
of which Remuneration and social security: +€6,841
- Other debts +€4,246
up €4,246 (+10.2%), from €41,819 to €46,065
- Short-term financial debts -€3,328
no longer reported in 2025 (was €3,328)
- Current portion of long-term debt -€1,735
no longer reported in 2025 (was €1,735)
- Depreciation -€6,606
down €6,606 (-38.5%), from €17,161 to €10,556
- Gross operating margin -€6,395
down €6,395 (-10.8%), from €59,285 to €52,890
- Staff costs +€5,496
up €5,496 (+10.4%), from €53,069 to €58,565
- Other operating charges -€1,980
down €1,980 (-63.7%), from €3,106 to €1,126
- Taxes -€1,881
down €1,881 (-168.1%), from -€1,119 to -€3,000
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 | €135,093 | €122,466 | -€12,626 | -9.3% |
| Fixed assets | 21/28 | €99,633 | €89,078 | -€10,556 | -10.6% |
| Tangible fixed assets | 22/27 | €99,583 | €89,028 | -€10,556 | -10.6% |
| Land and buildings | 22 | €93,744 | €86,021 | -€7,724 | -8.2% |
| Plant, machinery and equipment | 23 | €3,236 | €1,669 | -€1,567 | -48.4% |
| Furniture and vehicles | 24 | €2,603 | €1,338 | -€1,265 | -48.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €35,460 | €33,389 | -€2,071 | -5.8% |
| Amounts receivable within one year | 40/41 | €35,071 | €32,569 | -€2,502 | -7.1% |
| Trade receivables | 40 | €20,479 | €16,069 | -€4,410 | -21.5% |
| Other amounts receivable | 41 | €14,592 | €16,499 | +€1,908 | +13.1% |
| Cash at bank and in hand | 54/58 | €389 | €820 | +€431 | +111.0% |
| Total equity and liabilities | 10/49 | €135,093 | €122,466 | -€12,626 | -9.3% |
| Equity | 10/15 | €64,946 | €45,772 | -€19,175 | -29.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,486 | €25,312 | -€19,175 | -43.1% |
| Amounts payable | 17/49 | €70,147 | €76,695 | +€6,548 | +9.3% |
| Amounts payable within one year | 42/48 | €70,147 | €76,695 | +€6,548 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €1,735 | - | -€1,735 | |
| Financial debts | 43 | €3,328 | - | -€3,328 | |
| Credit institutions | 430/8 | €3,328 | - | -€3,328 | |
| Trade debts | 44 | €11,557 | €12,491 | +€934 | +8.1% |
| Suppliers | 440/4 | €11,557 | €12,491 | +€934 | +8.1% |
| Taxes, remuneration and social security | 45 | €11,707 | €18,139 | +€6,432 | +54.9% |
| Taxes | 450/3 | €409 | - | -€409 | |
| Remuneration and social security | 454/9 | €11,298 | €18,139 | +€6,841 | +60.5% |
| Other amounts payable | 47/48 | €41,819 | €46,065 | +€4,246 | +10.2% |
| Remuneration, social security and pensions | 62 | €53,069 | €58,565 | +€5,496 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,161 | €10,556 | -€6,606 | -38.5% |
| Other operating charges | 640/8 | €3,106 | €1,126 | -€1,980 | -63.7% |
| Gross operating margin | 9900 | €59,285 | €52,890 | -€6,395 | -10.8% |
| Operating profit (loss) | 9901 | -€14,051 | -€17,357 | -€3,306 | -23.5% |
| Financial income | 75/76B | €1 | €4 | +€3 | +300.0% |
| Recurring financial income | 75 | €1 | €4 | +€3 | +300.0% |
| Financial charges | 65/66B | €3,775 | €4,822 | +€1,047 | +27.7% |
| Recurring financial charges | 65 | €3,775 | €4,822 | +€1,047 | +27.7% |
| Profit (loss) for the period before taxes | 9903 | -€17,825 | -€22,175 | -€4,350 | -24.4% |
| Income taxes | 67/77 | -€1,119 | -€3,000 | -€1,881 | -168.1% |
| Profit (loss) for the period | 9904 | -€16,706 | -€19,175 | -€2,469 | -14.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,706 | -€19,175 | -€2,469 | -14.8% |
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 8 October 2026 via checked.be.