Senegal manager Pape Thiaw admitted the exit hurt after his side were unable to hold on, but praised his players for giving their all.
"We're out – it hurts," Thiaw said. "We must congratulate the team, who gave it their all, but unfortunately we weren't able to hold on to our two-goal lead.
"Congratulations to the Belgian team, who have gone through. We have to accept this – that's football."
Belgium manager Rudi Garcia credited his substitutes for their role in the turnaround, and explained the tactical adjustments that helped his side regain control.
"In football, anything is always possible as long as you believe in it," Garcia said.
"The strength of this squad also lies in the players who come off the bench, because you can't get results with just eleven players.
"We made the necessary adjustments from the second half of the first half onwards; we were playing key passes from too far out when there was no need to.
"We sorted that out and things improved, even though we conceded the second goal."
Romelu Lukaku was among the goalscorers for Belgium and admitted afterwards that the intensity of the contest had taken its toll.
"I've had enough of these matches!" Lukaku said, laughing. "It was intense, but we gave it our all. We were trailing, but we showed character. In matches like this, that's what it takes.
"This Senegal side is one of the best teams in the tournament. Technically, physically and tactically, it was really tough.
"But when we stepped up the intensity of our pressing, when we were there for the second ball, our team spirit shone through and we won the match.
"It's victories like this that we need to bring this squad even closer together."
Lukaku also paid an emotional tribute to his late father after his goal, and revealed why he chose not to take a penalty during the match.
"I think it's my dad up there helping me," Lukaku said.
"As I'm still going through a tough time mentally, I preferred Youri to take it."
Senegal's Habib Diarra said his side had only themselves to blame for the manner of their exit from the tournament.
"We're disappointed. We had a good first half, but it wasn't enough," Diarra said. "A match lasts 90 minutes, and we're devastated. It's very tough. I don't know what to say.
"When you're on the pitch, you have to give your all, and that's not what we did. We've only got ourselves to blame."
Belgium now turn their attention to their next opponents, while Senegal's tournament ends with the players reflecting on a campaign that promised much before ending in heartbreak.