Belcotec Technics: 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.
Belcotec Technics
Largest movements
- Receivables within one year +€2.5m
up €2.5m (+216.3%), from €1.1m to €3.6m
of which Trade receivables: +€2.4m
- Cash -€449,802
down €449,802 (-88.2%), from €510,013 to €60,211
mainly Receivables within one year (-€2.5m) and Other debts (-€142,286)
- Stocks and contracts -€275,726
down €275,726 (-87.2%), from €316,021 to €40,295
of which Contracts in progress: -€275,726
- Tangible fixed assets +€61,350
up €61,350 (+42.1%), from €145,894 to €207,245
of which Leasing and similar rights: +€36,733
- Trade debts +€1.1m
up €1.1m (+102.1%), from €1.1m to €2.3m
- Reserves +€634,145
up €634,145 (+533.3%), from €118,904 to €753,049
- Other debts -€142,286
down €142,286 (-21.6%), from €660,000 to €517,714
- Tax, wage and social debts +€90,406
up €90,406 (+126.8%), from €71,324 to €161,730
of which Taxes: +€94,479
- Turnover +€4.1m
up €4.1m (+82.8%), from €5.0m to €9.1m
- Goods and materials +€2.7m
up €2.7m (+91.1%), from €3.0m to €5.8m
of which Purchases: +€2.7m
- Services and other goods +€292,344
up €292,344 (+37.1%), from €786,983 to €1.1m
- Taxes +€176,853
up €176,853 (+367.3%), from €48,147 to €225,000
of which Taxes: +€176,853
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 | €2,160,831 | €3,936,165 | +€1.8m | +82.2% |
| Fixed assets | 21/28 | €145,894 | €207,245 | +€61,350 | +42.1% |
| Tangible fixed assets | 22/27 | €145,894 | €207,245 | +€61,350 | +42.1% |
| Furniture and vehicles | 24 | €6,928 | €31,545 | +€24,617 | +355.3% |
| Leasing and similar rights | 25 | €138,966 | €175,700 | +€36,733 | +26.4% |
| Current assets | 29/58 | €2,014,936 | €3,728,921 | +€1.7m | +85.1% |
| Stocks and contracts in progress | 3 | €316,021 | €40,295 | -€275,726 | -87.2% |
| Stocks | 30/36 | €5,069 | €5,069 | = | 0.0% |
| Goods purchased for resale | 34 | €5,069 | €5,069 | = | 0.0% |
| Contracts in progress | 37 | €310,952 | €35,226 | -€275,726 | -88.7% |
| Amounts receivable within one year | 40/41 | €1,144,349 | €3,619,728 | +€2.5m | +216.3% |
| Trade receivables | 40 | €905,888 | €3,350,726 | +€2.4m | +269.9% |
| Other amounts receivable | 41 | €238,461 | €269,002 | +€30,541 | +12.8% |
| Cash at bank and in hand | 54/58 | €510,013 | €60,211 | -€449,802 | -88.2% |
| Deferred charges and accrued income | 490/1 | €44,554 | €8,687 | -€35,867 | -80.5% |
| Total equity and liabilities | 10/49 | €2,160,831 | €3,936,165 | +€1.8m | +82.2% |
| Equity | 10/15 | €143,904 | €778,049 | +€634,145 | +440.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €118,904 | €753,049 | +€634,145 | +533.3% |
| Distributable reserves | 133 | €118,904 | €753,049 | +€634,145 | +533.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,016,927 | €3,158,116 | +€1.1m | +56.6% |
| Amounts payable after more than one year | 17 | €103,906 | €132,903 | +€28,997 | +27.9% |
| Financial debts | 170/4 | €103,906 | €132,903 | +€28,997 | +27.9% |
| Leasing and similar obligations | 172 | €103,906 | €132,903 | +€28,997 | +27.9% |
| Amounts payable within one year | 42/48 | €1,903,020 | €3,025,213 | +€1.1m | +59.0% |
| Current portion of amounts payable after more than one year | 42 | €39,541 | €50,494 | +€10,953 | +27.7% |
| Financial debts | 43 | €16,903 | €41,870 | +€24,967 | +147.7% |
| Credit institutions | 430/8 | €16,903 | €41,870 | +€24,967 | +147.7% |
| Trade debts | 44 | €1,115,252 | €2,253,405 | +€1.1m | +102.1% |
| Suppliers | 440/4 | €1,115,252 | €2,253,405 | +€1.1m | +102.1% |
| Taxes, remuneration and social security | 45 | €71,324 | €161,730 | +€90,406 | +126.8% |
| Taxes | 450/3 | €5,521 | €100,000 | +€94,479 | +1711.4% |
| Remuneration and social security | 454/9 | €65,804 | €61,730 | -€4,073 | -6.2% |
| Other amounts payable | 47/48 | €660,000 | €517,714 | -€142,286 | -21.6% |
| Accrued charges and deferred income | 492/3 | €10,000 | €0 | -€10,000 | -100.0% |
| Operating income | 70/76A | €5,028,665 | €8,830,093 | +€3.8m | +75.6% |
| Turnover | 70 | €4,956,927 | €9,062,592 | +€4.1m | +82.8% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€14,141 | -€275,726 | -€261,585 | -1849.8% |
| Other operating income | 74 | €85,879 | €43,226 | -€42,653 | -49.7% |
| Operating charges | 60/66A | €4,864,884 | €7,956,935 | +€3.1m | +63.6% |
| Goods for resale, raw materials and consumables | 60 | €3,011,850 | €5,755,348 | +€2.7m | +91.1% |
| Purchases | 600/8 | €3,011,850 | €5,755,348 | +€2.7m | +91.1% |
| Change in stocks: decrease (increase) | 609 | €0 | - | = | |
| Services and other goods | 61 | €786,983 | €1,079,328 | +€292,344 | +37.1% |
| Remuneration, social security and pensions | 62 | €1,014,958 | €1,065,143 | +€50,185 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,521 | €54,706 | +€7,185 | +15.1% |
| Other operating charges | 640/8 | €3,103 | €2,410 | -€692 | -22.3% |
| Non-recurring operating charges | 66A | €469 | €0 | -€469 | -100.0% |
| Operating profit (loss) | 9901 | €163,781 | €873,158 | +€709,377 | +433.1% |
| Financial income | 75/76B | €3,821 | €6 | -€3,816 | -99.9% |
| Recurring financial income | 75 | €3,821 | €6 | -€3,816 | -99.9% |
| Other financial income | 752/9 | €3,821 | €6 | -€3,816 | -99.9% |
| Financial charges | 65/66B | €15,146 | €14,018 | -€1,128 | -7.4% |
| Recurring financial charges | 65 | €15,146 | €14,018 | -€1,128 | -7.4% |
| Debt charges | 650 | €6,123 | €5,884 | -€239 | -3.9% |
| Other financial charges | 652/9 | €9,023 | €8,135 | -€889 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €152,456 | €859,145 | +€706,689 | +463.5% |
| Income taxes | 67/77 | €48,147 | €225,000 | +€176,853 | +367.3% |
| Taxes | 670/3 | €48,147 | €225,000 | +€176,853 | +367.3% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €104,309 | €634,145 | +€529,836 | +508.0% |
| Profit (loss) for the period to be appropriated | 9905 | €104,309 | €634,145 | +€529,836 | +508.0% |
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 5 October 2026 via checked.be.