BelCoPrint: what changed
What changed
BelCoPrint
NACE 46.180, Agents specialised in the wholesale of other particular products
filed annual accounts (NBB)
Net result for the year
€45,806
2024 · €31,098+€14,708
Equity
€213,992
2024 · €168,186+€45,806
Cash
€32,973
2024 · €32,960+€13
Balance sheet total
€364,017
2024 · €251,018+€112,999
Largest movements
Assets
- Tangible fixed assets +€59,509
up €59,509 (+204%), from €29,159 to €88,668
of which Plant, machinery and equipment: +€60,411
- Receivables within one year +€29,104
up €29,104 (+33.0%), from €88,296 to €117,400
of which Trade receivables: +€25,034
- Stocks and contracts +€24,197
up €24,197 (+25.5%), from €94,913 to €119,110
Equity and liabilities
- Debts after one year +€50,809
up €50,809 (+717%), from €7,084 to €57,893
- Reserves +€45,806
up €45,806 (+28.3%), from €161,986 to €207,792
- Current portion of long-term debt +€7,412
up €7,412 (+51.6%), from €14,368 to €21,780
- Tax, wage and social debts +€6,786
up €6,786 (+17.2%), from €39,389 to €46,175
of which Taxes: +€4,269
Income statement
- Gross operating margin +€22,648
up €22,648 (+15.0%), from €151,428 to €174,076
- Other operating charges -€20,700
down €20,700 (-88.5%), from €23,381 to €2,680
- Depreciation +€15,313
up €15,313 (+70.9%), from €21,595 to €36,907
- Staff costs +€12,082
up €12,082 (+21.0%), from €57,463 to €69,545
- Financial charges +€1,968
up €1,968 (+177%), from €1,109 to €3,077
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€31,098
Gross operating margin
+€22,648
Staff costs
-€12,082
Depreciation
-€15,313
Other operating charges
+€20,700
Financial income
+€509
Financial charges
-€1,968
Taxes
+€212
Result 2025
€45,806
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€38,235
Investment
-€96,443
Financing
+€58,221
Cash 2024
€32,960
From operations (derived)
+€38,235
Net result for the year
+€45,806
Depreciation
+€36,907
Stocks and contracts
-€24,197
Receivables within one year
-€29,104
Smaller working-capital items
-€315
Trade debts
+€2,352
Tax, wage and social debts
+€6,786
Investment (derived)
-€96,443
Investment in fixed assets (net)
-€96,443
Financing
+€58,221
Debts after one year
+€50,809
Current portion of long-term debt
+€7,412
Cash 2025
€32,973
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €251,018 | €364,017 | +€112,999 | +45.0% |
| Fixed assets | 21/28 | €32,952 | €92,487 | +€59,535 | +181% |
| Tangible fixed assets | 22/27 | €29,159 | €88,668 | +€59,509 | +204% |
| Plant, machinery and equipment | 23 | €21,944 | €82,354 | +€60,411 | +275% |
| Furniture and vehicles | 24 | €7,215 | €6,314 | -€902 | -12.5% |
| Financial fixed assets | 28 | €3,793 | €3,819 | +€27 | +0.7% |
| Current assets | 29/58 | €218,066 | €271,530 | +€53,464 | +24.5% |
| Stocks and contracts in progress | 3 | €94,913 | €119,110 | +€24,197 | +25.5% |
| Stocks | 30/36 | €94,913 | €119,110 | +€24,197 | +25.5% |
| Amounts receivable within one year | 40/41 | €88,296 | €117,400 | +€29,104 | +33.0% |
| Trade receivables | 40 | €78,701 | €103,735 | +€25,034 | +31.8% |
| Other amounts receivable | 41 | €9,596 | €13,665 | +€4,070 | +42.4% |
| Cash at bank and in hand | 54/58 | €32,960 | €32,973 | +€13 | 0.0% |
| Deferred charges and accrued income | 490/1 | €1,897 | €2,046 | +€150 | +7.9% |
| Total equity and liabilities | 10/49 | €251,018 | €364,017 | +€112,999 | +45.0% |
| Equity | 10/15 | €168,186 | €213,992 | +€45,806 | +27.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €161,986 | €207,792 | +€45,806 | +28.3% |
| Distributable reserves | 133 | €161,986 | €207,792 | +€45,806 | +28.3% |
| Amounts payable | 17/49 | €82,832 | €150,025 | +€67,194 | +81.1% |
| Amounts payable after more than one year | 17 | €7,084 | €57,893 | +€50,809 | +717% |
| Financial debts | 170/4 | €7,084 | €57,893 | +€50,809 | +717% |
| Amounts payable within one year | 42/48 | €75,747 | €92,132 | +€16,384 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €14,368 | €21,780 | +€7,412 | +51.6% |
| Trade debts | 44 | €11,391 | €13,743 | +€2,352 | +20.7% |
| Suppliers | 440/4 | €11,391 | €13,743 | +€2,352 | +20.7% |
| Advances received on contracts in progress | 46 | €10,599 | €10,433 | -€165 | -1.6% |
| Taxes, remuneration and social security | 45 | €39,389 | €46,175 | +€6,786 | +17.2% |
| Taxes | 450/3 | €28,161 | €32,430 | +€4,269 | +15.2% |
| Remuneration and social security | 454/9 | €11,229 | €13,745 | +€2,517 | +22.4% |
| Remuneration, social security and pensions | 62 | €57,463 | €69,545 | +€12,082 | +21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,595 | €36,907 | +€15,313 | +70.9% |
| Other operating charges | 640/8 | €23,381 | €2,680 | -€20,700 | -88.5% |
| Gross operating margin | 9900 | €151,428 | €174,076 | +€22,648 | +15.0% |
| Operating profit (loss) | 9901 | €48,990 | €64,944 | +€15,954 | +32.6% |
| Financial income | 75/76B | €406 | €915 | +€509 | +125% |
| Recurring financial income | 75 | €406 | €915 | +€509 | +125% |
| Financial charges | 65/66B | €1,109 | €3,077 | +€1,968 | +177% |
| Recurring financial charges | 65 | €1,109 | €3,077 | +€1,968 | +177% |
| Profit (loss) for the period before taxes | 9903 | €48,287 | €62,782 | +€14,495 | +30.0% |
| Income taxes | 67/77 | €17,188 | €16,976 | -€212 | -1.2% |
| Profit (loss) for the period | 9904 | €31,098 | €45,806 | +€14,708 | +47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,098 | €45,806 | +€14,708 | +47.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.