BELGIQA UNITED: what changed
What changed
BELGIQA UNITED
NACE 46.832, Wholesale of timber
filed annual accounts (NBB)
Net result for the year
€291,262
2024 · €206,137+€85,125
Equity
€1.6m
2024 · €1.3m+€291,262
Cash
€705,659
2024 · €703,638+€2,021
Balance sheet total
€8.0m
2024 · €7.1m+€832,332
Largest movements
Assets
- Stocks and contracts +€582,469
up €582,469 (+42.0%), from €1.4m to €2.0m
- Intangible fixed assets +€314,405
up €314,405 (+103%), from €304,310 to €618,715
- Deferred charges and accrued income -€112,981
down €112,981 (-68.3%), from €165,362 to €52,381
Equity and liabilities
- Short-term financial debts +€674,941
up €674,941 (+193%), from €350,297 to €1.0m
- Advances received +€438,831
up €438,831 (+39.2%), from €1.1m to €1.6m
- Trade debts -€432,885
down €432,885 (-14.1%), from €3.1m to €2.6m
- Profit (loss) carried forward +€291,262
up €291,262 (+44.4%), from €656,671 to €947,932
- Debts after one year -€211,869
down €211,869 (-39.1%), from €541,850 to €329,981
Income statement
- Turnover +€16.0m
new in 2025: €16.0m
- Goods and materials +€12.3m
new in 2025: €12.3m
of which Purchases: +€12.5m
- Services and other goods +€3.0m
new in 2025: €3.0m
- Gross operating margin -€743,709
no longer reported in 2025 (was €743,709)
Change in the result, 2024 to 2025
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 2024
€206,137
Turnover
+€16.0m
Other operating income
+€61,493
Goods and materials
-€12.3m
Services and other goods
-€3.0m
Staff costs
-€140,543
Depreciation
+€1,732
Write-downs
-€10,035
Other operating charges
+€10
Other operating items
-€435,390
Financial income
+€80,407
Financial charges
-€38,490
Taxes
-€44,882
Result 2025
€291,262
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€125,680
Investment
-€633,626
Financing
+€509,967
Cash 2024
€703,638
From operations (derived)
+€125,680
Net result for the year
+€291,262
Depreciation
+€348,257
Stocks and contracts
-€582,469
Receivables within one year
-€75,455
Deferred charges and accrued income
+€112,981
Trade debts
-€432,885
Tax, wage and social debts
+€28,392
Advances received
+€438,831
Other debts
-€477
Accrued charges and deferred income
-€2,757
Investment (derived)
-€633,626
Investment in fixed assets (net)
-€633,626
Financing
+€509,967
Debts after one year
-€211,869
Current portion of long-term debt
+€46,896
Short-term financial debts
+€674,941
Cash 2025
€705,659
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,133,263 | €7,965,595 | +€832,332 | +11.7% |
| Fixed assets | 21/28 | €2,081,659 | €2,367,028 | +€285,369 | +13.7% |
| Intangible fixed assets | 21 | €304,310 | €618,715 | +€314,405 | +103% |
| Tangible fixed assets | 22/27 | €563,330 | €534,294 | -€29,036 | -5.2% |
| Plant, machinery and equipment | 23 | €471,785 | €457,383 | -€14,402 | -3.1% |
| Furniture and vehicles | 24 | €39,997 | €31,982 | -€8,015 | -20.0% |
| Other tangible fixed assets | 26 | €51,549 | €44,930 | -€6,619 | -12.8% |
| Financial fixed assets | 28 | €1,214,019 | €1,214,019 | = | 0.0% |
| Affiliated companies | 280/1 | - | €1,214,019 | +€1.2m | |
| Participating interests | 280 | - | €1,100,000 | +€1.1m | |
| Amounts receivable | 281 | - | €114,019 | +€114,019 | |
| Current assets | 29/58 | €5,051,604 | €5,598,568 | +€546,964 | +10.8% |
| Stocks and contracts in progress | 3 | €1,385,860 | €1,968,328 | +€582,469 | +42.0% |
| Stocks | 30/36 | €1,385,860 | €1,968,328 | +€582,469 | +42.0% |
| Goods purchased for resale | 34 | - | €1,565,929 | +€1.6m | |
| Advance payments | 36 | - | €402,399 | +€402,399 | |
| Amounts receivable within one year | 40/41 | €2,796,745 | €2,872,200 | +€75,455 | +2.7% |
| Trade receivables | 40 | €2,433,949 | €2,406,602 | -€27,347 | -1.1% |
| Other amounts receivable | 41 | €362,796 | €465,598 | +€102,802 | +28.3% |
| Cash at bank and in hand | 54/58 | €703,638 | €705,659 | +€2,021 | +0.3% |
| Deferred charges and accrued income | 490/1 | €165,362 | €52,381 | -€112,981 | -68.3% |
| Total equity and liabilities | 10/49 | €7,133,263 | €7,965,595 | +€832,332 | +11.7% |
| Equity | 10/15 | €1,319,357 | €1,610,618 | +€291,262 | +22.1% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €656,671 | €947,932 | +€291,262 | +44.4% |
| Investment grants | 15 | €332,686 | €332,686 | = | 0.0% |
| Amounts payable | 17/49 | €5,813,907 | €6,354,977 | +€541,071 | +9.3% |
| Amounts payable after more than one year | 17 | €541,850 | €329,981 | -€211,869 | -39.1% |
| Financial debts | 170/4 | €541,850 | €329,981 | -€211,869 | -39.1% |
| Subordinated loans | 170 | - | €181,441 | +€181,441 | |
| Credit institutions | 173 | - | €148,540 | +€148,540 | |
| Amounts payable within one year | 42/48 | €5,265,829 | €6,021,526 | +€755,697 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €171,568 | €218,464 | +€46,896 | +27.3% |
| Financial debts | 43 | €350,297 | €1,025,238 | +€674,941 | +193% |
| Credit institutions | 430/8 | €350,297 | €1,025,238 | +€674,941 | +193% |
| Trade debts | 44 | €3,060,774 | €2,627,889 | -€432,885 | -14.1% |
| Suppliers | 440/4 | €3,060,774 | €2,627,889 | -€432,885 | -14.1% |
| Advances received on contracts in progress | 46 | €1,119,003 | €1,557,834 | +€438,831 | +39.2% |
| Taxes, remuneration and social security | 45 | €14,186 | €42,578 | +€28,392 | +200% |
| Taxes | 450/3 | €3,617 | €14,901 | +€11,284 | +312% |
| Remuneration and social security | 454/9 | €10,569 | €27,677 | +€17,108 | +162% |
| Other amounts payable | 47/48 | €550,000 | €549,523 | -€477 | -0.1% |
| Accrued charges and deferred income | 492/3 | €6,227 | €3,470 | -€2,757 | -44.3% |
| Operating income | 70/76A | - | €16,336,355 | +€16.3m | |
| Turnover | 70 | - | €15,966,543 | +€16.0m | |
| Own construction capitalised | 72 | - | €308,319 | +€308,319 | |
| Other operating income | 74 | - | €61,493 | +€61,493 | |
| Operating charges | 60/66A | - | €15,945,284 | +€15.9m | |
| Goods for resale, raw materials and consumables | 60 | - | €12,309,883 | +€12.3m | |
| Purchases | 600/8 | - | €12,489,953 | +€12.5m | |
| Change in stocks: decrease (increase) | 609 | - | -€180,069 | -€180,069 | |
| Services and other goods | 61 | - | €3,045,836 | +€3.0m | |
| Remuneration, social security and pensions | 62 | €78,808 | €219,352 | +€140,543 | +178% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €349,989 | €348,257 | -€1,732 | -0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,361 | €20,396 | +€10,035 | +96.8% |
| Other operating charges | 640/8 | €1,570 | €1,560 | -€10 | -0.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €743,709 | - | -€743,709 | |
| Operating profit (loss) | 9901 | €302,981 | €391,071 | +€88,090 | +29.1% |
| Financial income | 75/76B | €67,802 | €148,209 | +€80,407 | +119% |
| Recurring financial income | 75 | €67,802 | €148,209 | +€80,407 | +119% |
| Other financial income | 752/9 | - | €148,209 | +€148,209 | |
| Financial charges | 65/66B | €123,052 | €161,542 | +€38,490 | +31.3% |
| Recurring financial charges | 65 | €123,052 | €161,542 | +€38,490 | +31.3% |
| Debt charges | 650 | - | €53,814 | +€53,814 | |
| Other financial charges | 652/9 | - | €107,728 | +€107,728 | |
| Profit (loss) for the period before taxes | 9903 | €247,732 | €377,739 | +€130,007 | +52.5% |
| Income taxes | 67/77 | €41,595 | €86,477 | +€44,882 | +108% |
| Taxes | 670/3 | - | €86,477 | +€86,477 | |
| Profit (loss) for the period | 9904 | €206,137 | €291,262 | +€85,125 | +41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €206,137 | €291,262 | +€85,125 | +41.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.