Belgeonne Geo 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.
Belgeonne Geo Construct
Largest movements
- Tangible fixed assets -€15,376
down €15,376 (-3.3%), from €470,452 to €455,076
of which Land and buildings: -€14,128
- Cash +€9,216
new in 2025: €9,216
mainly Net result for the year (+€29,364) and Depreciation (+€15,376)
- Receivables within one year +€5,845
up €5,845 (+43.1%), from €13,549 to €19,393
of which Other amounts receivable: +€5,397
- Short-term financial debts -€22,623
no longer reported in 2025 (was €22,623)
- Profit (loss) carried forward +€19,364
up €19,364 (+103%), from €18,722 to €38,086
- Debts after one year -€13,997
down €13,997 (-4.2%), from €331,904 to €317,907
of which Financial debts: -€28,098
- Reserves +€10,000
up €10,000 (+100%), from €10,000 to €20,000
- Advances received -€5,831
down €5,831 (-31.1%), from €18,775 to €12,945
- Gross operating margin +€14,373
up €14,373 (+24.8%), from €57,958 to €72,330
- Taxes +€5,845
up €5,845 (+90.9%), from €6,433 to €12,278
- Financial charges -€1,879
down €1,879 (-13.1%), from €14,299 to €12,420
- Depreciation -€979
down €979 (-6.0%), from €16,355 to €15,376
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 | €490,230 | €488,829 | -€1,401 | -0.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €470,452 | €455,076 | -€15,376 | -3.3% |
| Tangible fixed assets | 22/27 | €470,452 | €455,076 | -€15,376 | -3.3% |
| Land and buildings | 22 | €460,331 | €446,203 | -€14,128 | -3.1% |
| Plant, machinery and equipment | 23 | €8,159 | €7,720 | -€440 | -5.4% |
| Furniture and vehicles | 24 | €1,961 | €1,153 | -€808 | -41.2% |
| Current assets | 29/58 | €19,778 | €33,753 | +€13,975 | +70.7% |
| Stocks and contracts in progress | 3 | €2,750 | - | -€2,750 | |
| Stocks | 30/36 | €2,750 | - | -€2,750 | |
| Amounts receivable within one year | 40/41 | €13,549 | €19,393 | +€5,845 | +43.1% |
| Trade receivables | 40 | €12,617 | €13,065 | +€448 | +3.5% |
| Other amounts receivable | 41 | €932 | €6,329 | +€5,397 | +579% |
| Cash at bank and in hand | 54/58 | - | €9,216 | +€9,216 | |
| Deferred charges and accrued income | 490/1 | €3,479 | €5,143 | +€1,664 | +47.8% |
| Total equity and liabilities | 10/49 | €490,230 | €488,829 | -€1,401 | -0.3% |
| Equity | 10/15 | €73,722 | €103,086 | +€29,364 | +39.8% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €20,000 | +€10,000 | +100% |
| Distributable reserves | 133 | €10,000 | €20,000 | +€10,000 | +100% |
| Profit (loss) carried forward | 14 | €18,722 | €38,086 | +€19,364 | +103% |
| Amounts payable | 17/49 | €416,508 | €385,743 | -€30,765 | -7.4% |
| Amounts payable after more than one year | 17 | €331,904 | €317,907 | -€13,997 | -4.2% |
| Financial debts | 170/4 | €318,676 | €290,578 | -€28,098 | -8.8% |
| Other amounts payable | 178/9 | €13,228 | €27,329 | +€14,100 | +107% |
| Amounts payable within one year | 42/48 | €83,198 | €66,911 | -€16,287 | -19.6% |
| Current portion of amounts payable after more than one year | 42 | €27,220 | €30,074 | +€2,854 | +10.5% |
| Financial debts | 43 | €22,623 | - | -€22,623 | |
| Credit institutions | 430/8 | €22,623 | - | -€22,623 | |
| Trade debts | 44 | €7,998 | €11,922 | +€3,924 | +49.1% |
| Suppliers | 440/4 | €7,998 | €11,922 | +€3,924 | +49.1% |
| Advances received on contracts in progress | 46 | €18,775 | €12,945 | -€5,831 | -31.1% |
| Taxes, remuneration and social security | 45 | €6,582 | €11,971 | +€5,388 | +81.9% |
| Taxes | 450/3 | €6,582 | €10,833 | +€4,250 | +64.6% |
| Remuneration and social security | 454/9 | - | €1,138 | +€1,138 | |
| Accrued charges and deferred income | 492/3 | €1,406 | €926 | -€481 | -34.2% |
| Remuneration, social security and pensions | 62 | - | €241 | +€241 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,355 | €15,376 | -€979 | -6.0% |
| Other operating charges | 640/8 | €2,822 | €2,685 | -€137 | -4.9% |
| Non-recurring operating charges | 66A | €543 | - | -€543 | |
| Gross operating margin | 9900 | €57,958 | €72,330 | +€14,373 | +24.8% |
| Operating profit (loss) | 9901 | €38,238 | €54,029 | +€15,791 | +41.3% |
| Financial income | 75/76B | €6 | €33 | +€27 | +438% |
| Recurring financial income | 75 | €6 | €33 | +€27 | +438% |
| Financial charges | 65/66B | €14,299 | €12,420 | -€1,879 | -13.1% |
| Recurring financial charges | 65 | €14,299 | €12,420 | -€1,879 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €23,945 | €41,642 | +€17,697 | +73.9% |
| Income taxes | 67/77 | €6,433 | €12,278 | +€5,845 | +90.9% |
| Profit (loss) for the period | 9904 | €17,512 | €29,364 | +€11,852 | +67.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,512 | €29,364 | +€11,852 | +67.7% |
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 24 October 2026 via checked.be.