BELGEX SERVICES GROUP: 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.
BELGEX SERVICES GROUP
Largest movements
- Tangible fixed assets -€46,909
down €46,909 (-5.7%), from €824,110 to €777,200
of which Land and buildings: -€46,486
- Receivables within one year +€25,609
up €25,609 (+139.1%), from €18,413 to €44,022
of which Other amounts receivable: +€28,461
- Other debts -€39,677
down €39,677 (-7.4%), from €537,058 to €497,380
- Profit (loss) carried forward +€34,535
up €34,535 (+160.8%), from €21,483 to €56,018
- Current portion of long-term debt -€21,150
down €21,150 (-100.0%), from €21,150 to €0
- Purchases and services -€42,923
down €42,923 (-54.0%), from €79,490 to €36,568
- Gross operating margin +€34,565
up €34,565 (+35.7%), from €96,750 to €131,315
- Turnover +€10,251
up €10,251 (+10.0%), from €102,695 to €112,947
- Depreciation +€10,242
up €10,242 (+27.9%), from €36,668 to €46,909
- Financial charges +€7,549
up €7,549 (+25.1%), from €30,115 to €37,664
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 | €862,122 | €838,235 | -€23,887 | -2.8% |
| Fixed assets | 21/28 | €824,110 | €777,200 | -€46,909 | -5.7% |
| Tangible fixed assets | 22/27 | €824,110 | €777,200 | -€46,909 | -5.7% |
| Land and buildings | 22 | €823,412 | €776,926 | -€46,486 | -5.6% |
| Plant, machinery and equipment | 23 | €698 | €275 | -€423 | -60.6% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €38,013 | €61,035 | +€23,022 | +60.6% |
| Amounts receivable within one year | 40/41 | €18,413 | €44,022 | +€25,609 | +139.1% |
| Trade receivables | 40 | €18,413 | €15,561 | -€2,852 | -15.5% |
| Other amounts receivable | 41 | - | €28,461 | +€28,461 | |
| Cash at bank and in hand | 54/58 | €18,356 | €14,688 | -€3,668 | -20.0% |
| Deferred charges and accrued income | 490/1 | €1,243 | €2,325 | +€1,081 | +87.0% |
| Total equity and liabilities | 10/49 | €862,122 | €838,235 | -€23,887 | -2.8% |
| Equity | 10/15 | €265,108 | €299,643 | +€34,535 | +13.0% |
| Contributions | 10/11 | €236,750 | €236,750 | = | 0.0% |
| Reserves | 13 | €6,875 | €6,875 | = | 0.0% |
| Distributable reserves | 133 | €6,875 | €6,875 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,483 | €56,018 | +€34,535 | +160.8% |
| Amounts payable | 17/49 | €597,015 | €538,592 | -€58,422 | -9.8% |
| Amounts payable after more than one year | 17 | €21,498 | €21,498 | = | 0.0% |
| Financial debts | 170/4 | €21,498 | €21,498 | = | 0.0% |
| Other amounts payable | 178/9 | - | €0 | = | |
| Amounts payable within one year | 42/48 | €571,677 | €506,606 | -€65,072 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €21,150 | €0 | -€21,150 | -100.0% |
| Trade debts | 44 | €2,595 | €1,076 | -€1,518 | -58.5% |
| Suppliers | 440/4 | €2,595 | €1,076 | -€1,518 | -58.5% |
| Taxes, remuneration and social security | 45 | €10,875 | €8,149 | -€2,726 | -25.1% |
| Taxes | 450/3 | €10,875 | €8,149 | -€2,726 | -25.1% |
| Other amounts payable | 47/48 | €537,058 | €497,380 | -€39,677 | -7.4% |
| Accrued charges and deferred income | 492/3 | €3,840 | €10,489 | +€6,650 | +173.2% |
| Turnover | 70 | €102,695 | €112,947 | +€10,251 | +10.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €79,490 | €36,568 | -€42,923 | -54.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,668 | €46,909 | +€10,242 | +27.9% |
| Other operating charges | 640/8 | €1,256 | €668 | -€588 | -46.8% |
| Gross operating margin | 9900 | €96,750 | €131,315 | +€34,565 | +35.7% |
| Operating profit (loss) | 9901 | €58,827 | €83,738 | +€24,911 | +42.3% |
| Financial income | 75/76B | €13 | €0 | -€13 | -99.8% |
| Recurring financial income | 75 | €13 | €0 | -€13 | -99.8% |
| Financial charges | 65/66B | €30,115 | €37,664 | +€7,549 | +25.1% |
| Recurring financial charges | 65 | €30,115 | €37,664 | +€7,549 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | €28,725 | €46,074 | +€17,349 | +60.4% |
| Transfer from deferred taxes | 780 | - | €0 | = | |
| Income taxes | 67/77 | €7,378 | €11,539 | +€4,161 | +56.4% |
| Profit (loss) for the period | 9904 | €21,347 | €34,535 | +€13,188 | +61.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,347 | €34,535 | +€13,188 | +61.8% |
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 8 October 2026 via checked.be.