BELPRO 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.
BELPRO CONSTRUCT
Largest movements
- Receivables within one year +€59,182
up €59,182 (+52.8%), from €112,080 to €171,262
- Cash +€19,025
up €19,025 (+100.0%), from €19,024 to €38,049
mainly Net result for the year (+€37,233) and Trade debts (+€31,294)
- Profit (loss) carried forward +€37,233
up €37,233 (+104.8%), from €35,533 to €72,766
- Trade debts +€31,294
up €31,294 (+190.2%), from €16,452 to €47,746
- Tax, wage and social debts +€9,107
up €9,107 (+60.3%), from €15,095 to €24,203
of which Taxes: +€9,107
- Accrued charges and deferred income +€2,654
up €2,654 (+212.8%), from €1,247 to €3,901
- Other debts -€2,301
down €2,301 (-3.0%), from €76,212 to €73,911
- Gross operating margin +€19,422
up €19,422 (+47.4%), from €40,991 to €60,413
- Financial charges +€3,519
up €3,519 (+391.5%), from €899 to €4,417
- Taxes +€2,785
up €2,785 (+32.1%), from €8,671 to €11,456
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 | €146,538 | €224,525 | +€77,987 | +53.2% |
| Formation expenses | 20 | €231 | €0 | -€231 | -100.0% |
| Fixed assets | 21/28 | €13,442 | €12,021 | -€1,421 | -10.6% |
| Tangible fixed assets | 22/27 | €13,442 | €12,021 | -€1,421 | -10.6% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €13,442 | €12,021 | -€1,421 | -10.6% |
| Current assets | 29/58 | €132,866 | €212,504 | +€79,638 | +59.9% |
| Amounts receivable within one year | 40/41 | €112,080 | €171,262 | +€59,182 | +52.8% |
| Trade receivables | 40 | €112,080 | €171,262 | +€59,182 | +52.8% |
| Cash at bank and in hand | 54/58 | €19,024 | €38,049 | +€19,025 | +100.0% |
| Deferred charges and accrued income | 490/1 | €1,762 | €3,193 | +€1,431 | +81.2% |
| Total equity and liabilities | 10/49 | €146,538 | €224,525 | +€77,987 | +53.2% |
| Equity | 10/15 | €37,533 | €74,766 | +€37,233 | +99.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,533 | €72,766 | +€37,233 | +104.8% |
| Amounts payable | 17/49 | €109,006 | €149,760 | +€40,754 | +37.4% |
| Amounts payable within one year | 42/48 | €107,759 | €145,859 | +€38,100 | +35.4% |
| Trade debts | 44 | €16,452 | €47,746 | +€31,294 | +190.2% |
| Suppliers | 440/4 | €16,452 | €47,746 | +€31,294 | +190.2% |
| Taxes, remuneration and social security | 45 | €15,095 | €24,203 | +€9,107 | +60.3% |
| Taxes | 450/3 | €15,095 | €24,203 | +€9,107 | +60.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €76,212 | €73,911 | -€2,301 | -3.0% |
| Accrued charges and deferred income | 492/3 | €1,247 | €3,901 | +€2,654 | +212.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,222 | €6,293 | +€71 | +1.1% |
| Other operating charges | 640/8 | €1,676 | €1,315 | -€362 | -21.6% |
| Gross operating margin | 9900 | €40,991 | €60,413 | +€19,422 | +47.4% |
| Operating profit (loss) | 9901 | €33,093 | €52,805 | +€19,713 | +59.6% |
| Financial income | 75/76B | - | €300 | +€300 | |
| Recurring financial income | 75 | - | €300 | +€300 | |
| Financial charges | 65/66B | €899 | €4,417 | +€3,519 | +391.5% |
| Recurring financial charges | 65 | €899 | €4,417 | +€3,519 | +391.5% |
| Profit (loss) for the period before taxes | 9903 | €32,194 | €48,688 | +€16,494 | +51.2% |
| Income taxes | 67/77 | €8,671 | €11,456 | +€2,785 | +32.1% |
| Profit (loss) for the period | 9904 | €23,523 | €37,233 | +€13,709 | +58.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,523 | €37,233 | +€13,709 | +58.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.