BELGALEC CONSTRUCT: 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.
BELGALEC CONSTRUCT
Largest movements
- Receivables within one year +€3,628
up €3,628 (+4.2%), from €86,669 to €90,297
of which Trade receivables: +€9,341
- Cash +€1,950
new in 2025: €1,950
mainly Trade debts (+€6,322) and Net result for the year (+€4,911)
- Tangible fixed assets -€1,526
down €1,526 (-80.8%), from €1,889 to €363
of which Furniture and vehicles: -€869
- Trade debts +€6,322
up €6,322 (+32.3%), from €19,586 to €25,908
- Profit (loss) carried forward +€4,911
up €4,911 (+9.5%), from €51,434 to €56,345
- Short-term financial debts -€4,195
no longer reported in 2025 (was €4,195)
- Tax, wage and social debts -€2,986
down €2,986 (-56.5%), from €5,283 to €2,297
- Gross operating margin -€42,378
down €42,378 (-54.0%), from €78,489 to €36,111
- Taxes -€2,636
down €2,636 (-53.4%), from €4,933 to €2,297
- Staff costs +€1,863
up €1,863 (+10.6%), from €17,561 to €19,424
- Financial charges +€962
up €962 (+14.3%), from €6,738 to €7,700
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 | €88,558 | €92,610 | +€4,052 | +4.6% |
| Fixed assets | 21/28 | €1,889 | €363 | -€1,526 | -80.8% |
| Tangible fixed assets | 22/27 | €1,889 | €363 | -€1,526 | -80.8% |
| Plant, machinery and equipment | 23 | €1,020 | €363 | -€657 | -64.4% |
| Furniture and vehicles | 24 | €869 | - | -€869 | |
| Current assets | 29/58 | €86,669 | €92,247 | +€5,578 | +6.4% |
| Amounts receivable within one year | 40/41 | €86,669 | €90,297 | +€3,628 | +4.2% |
| Trade receivables | 40 | €73,522 | €82,863 | +€9,341 | +12.7% |
| Other amounts receivable | 41 | €13,147 | €7,434 | -€5,713 | -43.5% |
| Cash at bank and in hand | 54/58 | - | €1,950 | +€1,950 | |
| Total equity and liabilities | 10/49 | €88,558 | €92,610 | +€4,052 | +4.6% |
| Equity | 10/15 | €59,494 | €64,405 | +€4,911 | +8.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,434 | €56,345 | +€4,911 | +9.5% |
| Amounts payable | 17/49 | €29,064 | €28,205 | -€859 | -3.0% |
| Amounts payable within one year | 42/48 | €29,064 | €28,205 | -€859 | -3.0% |
| Financial debts | 43 | €4,195 | - | -€4,195 | |
| Credit institutions | 430/8 | €4,195 | - | -€4,195 | |
| Trade debts | 44 | €19,586 | €25,908 | +€6,322 | +32.3% |
| Suppliers | 440/4 | €19,586 | €25,908 | +€6,322 | +32.3% |
| Taxes, remuneration and social security | 45 | €5,283 | €2,297 | -€2,986 | -56.5% |
| Taxes | 450/3 | €5,283 | €2,297 | -€2,986 | -56.5% |
| Remuneration, social security and pensions | 62 | €17,561 | €19,424 | +€1,863 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,457 | €1,005 | -€452 | -31.0% |
| Other operating charges | 640/8 | €975 | €776 | -€199 | -20.4% |
| Gross operating margin | 9900 | €78,489 | €36,111 | -€42,378 | -54.0% |
| Operating profit (loss) | 9901 | €58,496 | €14,906 | -€43,590 | -74.5% |
| Financial income | 75/76B | €1 | €2 | +€1 | +100.0% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +100.0% |
| Financial charges | 65/66B | €6,738 | €7,700 | +€962 | +14.3% |
| Recurring financial charges | 65 | €6,738 | €7,700 | +€962 | +14.3% |
| Profit (loss) for the period before taxes | 9903 | €51,759 | €7,208 | -€44,551 | -86.1% |
| Income taxes | 67/77 | €4,933 | €2,297 | -€2,636 | -53.4% |
| Profit (loss) for the period | 9904 | €46,826 | €4,911 | -€41,915 | -89.5% |
| Profit (loss) for the period to be appropriated | 9905 | €46,826 | €4,911 | -€41,915 | -89.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.