BELGIAN TOWER COMPANY: what changed
What changed
BELGIAN TOWER COMPANY
NACE 77.399, Renting and leasing of other machinery, equipment and tangible goods
filed annual accounts (NBB)
Net result for the year
-€365,390
2025 · -€542,759+€177,369
Equity
€3.2m
2025 · €4.4m-€1.2m
Cash
€2.8m
2025 · €1.7m+€1.1m
Balance sheet total
€6.4m
2025 · €7.3m-€927,528
Largest movements
Assets
- Cash +€1.1m
up €1.1m (+64.2%), from €1.7m to €2.8m
mainly Depreciation (+€1.0m) and Receivables within one year (+€871,728)
- Tangible fixed assets -€985,885
down €985,885 (-24.7%), from €4.0m to €3.0m
of which Plant, machinery and equipment: -€662,978
- Receivables within one year -€871,728
down €871,728 (-67.6%), from €1.3m to €418,118
of which Trade receivables: -€864,819
- Deferred charges and accrued income -€188,145
down €188,145 (-59.9%), from €313,936 to €125,792
Equity and liabilities
- Profit (loss) carried forward -€1.2m
down €1.2m (-44.1%), from €2.6m to €1.5m
- Accrued charges and deferred income +€266,134
up €266,134 (+18.1%), from €1.5m to €1.7m
- Provisions -€218,000
no longer reported in 2026 (was €218,000)
- Other debts +€200,154
up €200,154 (+30.5%), from €656,854 to €857,009
- Trade debts -€77,021
down €77,021 (-25.9%), from €296,994 to €219,973
Income statement
- Turnover -€3.9m
down €3.9m (-48.8%), from €7.9m to €4.1m
- Services and other goods -€1.6m
down €1.6m (-45.0%), from €3.5m to €1.9m
- Depreciation -€1.1m
down €1.1m (-51.8%), from €2.2m to €1.0m
- Staff costs -€746,022
down €746,022 (-34.4%), from €2.2m to €1.4m
- Provisions -€436,000
down €436,000, from €218,000 to -€218,000
Change in the result, 2025 to 2026
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 2025
-€542,759
Turnover
-€3.9m
Other operating income
+€39,793
Services and other goods
+€1.6m
Staff costs
+€746,022
Depreciation
+€1.1m
Write-downs
+€271,320
Provisions
+€436,000
Other operating charges
-€133,655
Other operating items
-€22,431
Financial income
-€884
Financial charges
+€2,778
Taxes
-€12,890
Result 2026
-€365,390
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2.0m
Investment
-€67,124
Financing
-€800,000
Cash 2025
€1.7m
From operations (derived)
+€2.0m
Net result for the year
-€365,390
Depreciation
+€1.0m
Receivables within one year
+€871,728
Deferred charges and accrued income
+€188,145
Provisions
-€218,000
Trade debts
-€77,021
Tax, wage and social debts
+€66,595
Other debts
+€200,154
Accrued charges and deferred income
+€266,134
Investment (derived)
-€67,124
Investment in fixed assets (net)
-€67,120
Current investments
-€4
Financing
-€800,000
Contributions, distributions and other
-€800,000
Cash 2026
€2.8m
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,336,375 | €6,408,847 | -€927,528 | -12.6% |
| Fixed assets | 21/28 | €3,998,491 | €3,016,970 | -€981,521 | -24.5% |
| Intangible fixed assets | 21 | €2,136 | €6,650 | +€4,514 | +211% |
| Tangible fixed assets | 22/27 | €3,994,409 | €3,008,524 | -€985,885 | -24.7% |
| Land and buildings | 22 | €2,504,987 | €2,157,340 | -€347,647 | -13.9% |
| Plant, machinery and equipment | 23 | €1,449,097 | €786,119 | -€662,978 | -45.8% |
| Furniture and vehicles | 24 | €40,326 | €65,066 | +€24,740 | +61.3% |
| Financial fixed assets | 28 | €1,946 | €1,796 | -€150 | -7.7% |
| Other financial fixed assets | 284/8 | €1,946 | €1,796 | -€150 | -7.7% |
| Amounts receivable and cash guarantees | 285/8 | €1,946 | €1,796 | -€150 | -7.7% |
| Current assets | 29/58 | €3,337,884 | €3,391,877 | +€53,993 | +1.6% |
| Amounts receivable within one year | 40/41 | €1,289,845 | €418,118 | -€871,728 | -67.6% |
| Trade receivables | 40 | €1,240,512 | €375,693 | -€864,819 | -69.7% |
| Other amounts receivable | 41 | €49,333 | €42,425 | -€6,909 | -14.0% |
| Current investments | 50/53 | €34 | €38 | +€4 | +10.4% |
| Other investments | 51/53 | €34 | €38 | +€4 | +10.4% |
| Cash at bank and in hand | 54/58 | €1,734,068 | €2,847,930 | +€1.1m | +64.2% |
| Deferred charges and accrued income | 490/1 | €313,936 | €125,792 | -€188,145 | -59.9% |
| Total equity and liabilities | 10/49 | €7,336,375 | €6,408,847 | -€927,528 | -12.6% |
| Equity | 10/15 | €4,358,566 | €3,193,176 | -€1.2m | -26.7% |
| Contributions | 10/11 | €1,493,818 | €1,493,818 | = | 0.0% |
| Capital | 10 | €1,493,818 | €1,493,818 | = | 0.0% |
| Issued capital | 100 | €1,493,818 | €1,493,818 | = | 0.0% |
| Reserves | 13 | €224,382 | €224,382 | = | 0.0% |
| Non-distributable reserves | 130/1 | €149,382 | €149,382 | = | 0.0% |
| Legal reserve | 130 | €149,382 | €149,382 | = | 0.0% |
| Distributable reserves | 133 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,640,367 | €1,474,976 | -€1.2m | -44.1% |
| Provisions and deferred taxes | 16 | €218,000 | - | -€218,000 | |
| Provisions for liabilities and charges | 160/5 | €218,000 | - | -€218,000 | |
| Other liabilities and charges | 164/5 | €218,000 | - | -€218,000 | |
| Amounts payable | 17/49 | €2,759,809 | €3,215,671 | +€455,862 | +16.5% |
| Amounts payable within one year | 42/48 | €1,290,676 | €1,480,405 | +€189,729 | +14.7% |
| Trade debts | 44 | €296,994 | €219,973 | -€77,021 | -25.9% |
| Suppliers | 440/4 | €296,994 | €219,973 | -€77,021 | -25.9% |
| Taxes, remuneration and social security | 45 | €336,828 | €403,423 | +€66,595 | +19.8% |
| Taxes | 450/3 | €106,302 | €123,058 | +€16,756 | +15.8% |
| Remuneration and social security | 454/9 | €230,525 | €280,364 | +€49,839 | +21.6% |
| Other amounts payable | 47/48 | €656,854 | €857,009 | +€200,154 | +30.5% |
| Accrued charges and deferred income | 492/3 | €1,469,133 | €1,735,266 | +€266,134 | +18.1% |
| Operating income | 70/76A | €8,027,943 | €4,193,262 | -€3.8m | -47.8% |
| Turnover | 70 | €7,912,356 | €4,054,328 | -€3.9m | -48.8% |
| Other operating income | 74 | €97,766 | €137,559 | +€39,793 | +40.7% |
| Non-recurring operating income | 76A | €17,820 | €1,375 | -€16,445 | -92.3% |
| Operating charges | 60/66A | €8,573,665 | €4,550,621 | -€4.0m | -46.9% |
| Services and other goods | 61 | €3,519,201 | €1,936,358 | -€1.6m | -45.0% |
| Remuneration, social security and pensions | 62 | €2,165,851 | €1,419,829 | -€746,022 | -34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,175,142 | €1,048,641 | -€1.1m | -51.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,880 | -€253,440 | -€271,320 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €218,000 | -€218,000 | -€436,000 | |
| Other operating charges | 640/8 | €477,592 | €611,248 | +€133,655 | +28.0% |
| Non-recurring operating charges | 66A | - | €5,986 | +€5,986 | |
| Operating profit (loss) | 9901 | -€545,723 | -€357,359 | +€188,364 | +34.5% |
| Financial income | 75/76B | €2,356 | €1,471 | -€884 | -37.5% |
| Recurring financial income | 75 | €2,356 | €1,471 | -€884 | -37.5% |
| Other financial income | 752/9 | €2,356 | €1,471 | -€884 | -37.5% |
| Financial charges | 65/66B | €5,975 | €3,196 | -€2,778 | -46.5% |
| Recurring financial charges | 65 | €5,975 | €3,196 | -€2,778 | -46.5% |
| Other financial charges | 652/9 | €5,975 | €3,196 | -€2,778 | -46.5% |
| Profit (loss) for the period before taxes | 9903 | -€549,342 | -€359,084 | +€190,258 | +34.6% |
| Income taxes | 67/77 | -€6,583 | €6,307 | +€12,890 | |
| Taxes | 670/3 | €13 | €6,307 | +€6,294 | +49,598% |
| Tax adjustments and reversals of tax provisions | 77 | €6,596 | - | -€6,596 | |
| Profit (loss) for the period | 9904 | -€542,759 | -€365,390 | +€177,369 | +32.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€542,759 | -€365,390 | +€177,369 | +32.7% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.