ADB BOUW: what changed
Two financial 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.
What changed
ADB BOUW
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2023not consecutivefiled annual accounts (NBB)
Net result for the year
€257,322
2023 · €107,522+€149,800
Equity
€3.0m
2023 · €2.7m+€257,322
Cash
€112,344
2023 · €806,992-€694,648
Balance sheet total
€21.1m
2023 · €29.5m-€8.3m
Largest movements
Assets
- Stocks and contracts -€4.1m
down €4.1m (-35.2%), from €11.7m to €7.6m
- Receivables within one year -€3.4m
down €3.4m (-34.2%), from €9.8m to €6.5m
of which Trade receivables: -€4.7m
- Cash -€694,648
down €694,648 (-86.1%), from €806,992 to €112,344
Equity and liabilities
- Advances received -€4.5m
no longer reported in 2025 (was €4.5m)
- Other debts -€2.4m
down €2.4m (-21.0%), from €11.4m to €9.0m
- Accrued charges and deferred income -€1.4m
down €1.4m (-97.9%), from €1.4m to €30,150
- Debts after one year +€707,899
up €707,899 (+24.5%), from €2.9m to €3.6m
- Current portion of long-term debt -€655,608
down €655,608 (-80.0%), from €819,509 to €163,901
Income statement
- Turnover -€12.5m
down €12.5m (-38.2%), from €32.8m to €20.2m
- Goods and materials -€11.5m
down €11.5m (-41.9%), from €27.5m to €16.0m
of which Purchases: -€13.2m
- Financial income +€1.8m
up €1.8m (+18,559%), from €9,716 to €1.8m
of which Financial income: +€1.6m
- Services and other goods +€1.8m
up €1.8m (+159%), from €1.1m to €2.9m
- Financial charges -€985,194
down €985,194 (-41.7%), from €2.4m to €1.4m
From the 2023 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.
Result 2023
€107,522
Turnover
-€12.5m
Other operating income
-€35,199
Goods and materials
+€11.5m
Services and other goods
-€1.8m
Staff costs
-€254,047
Depreciation
+€63,808
Other operating charges
+€73,284
Other operating items
+€262,281
Financial income
+€1.8m
Financial charges
+€985,194
Taxes
+€13,570
Result 2025
€257,322
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,490,559 | €21,149,642 | -€8.3m | -28.3% |
| Fixed assets | 21/28 | €7,079,520 | €6,912,858 | -€166,662 | -2.4% |
| Intangible fixed assets | 21 | €2,059 | €278 | -€1,782 | -86.5% |
| Tangible fixed assets | 22/27 | €1,178,290 | €1,016,909 | -€161,381 | -13.7% |
| Land and buildings | 22 | €755,781 | €703,025 | -€52,756 | -7.0% |
| Plant, machinery and equipment | 23 | €7,267 | €510 | -€6,756 | -93.0% |
| Furniture and vehicles | 24 | €197,656 | €159,460 | -€38,196 | -19.3% |
| Leasing and similar rights | 25 | €203,772 | €147,192 | -€56,580 | -27.8% |
| Other tangible fixed assets | 26 | €13,814 | €6,722 | -€7,092 | -51.3% |
| Financial fixed assets | 28 | €5,899,171 | €5,895,671 | -€3,500 | -0.1% |
| Affiliated companies | 280/1 | €5,895,671 | €5,895,671 | = | 0.0% |
| Participating interests | 280 | €5,895,671 | €5,895,671 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €2,000 | - | -€2,000 | |
| Participating interests | 282 | €2,000 | - | -€2,000 | |
| Other financial fixed assets | 284/8 | €1,500 | - | -€1,500 | |
| Amounts receivable and cash guarantees | 285/8 | €1,500 | - | -€1,500 | |
| Current assets | 29/58 | €22,411,039 | €14,236,784 | -€8.2m | -36.5% |
| Stocks and contracts in progress | 3 | €11,740,273 | €7,611,791 | -€4.1m | -35.2% |
| Stocks | 30/36 | €11,740,273 | €7,611,791 | -€4.1m | -35.2% |
| Property held for sale | 35 | €11,740,273 | €7,611,791 | -€4.1m | -35.2% |
| Amounts receivable within one year | 40/41 | €9,833,600 | €6,469,053 | -€3.4m | -34.2% |
| Trade receivables | 40 | €9,286,123 | €4,564,077 | -€4.7m | -50.9% |
| Other amounts receivable | 41 | €547,477 | €1,904,976 | +€1.4m | +248% |
| Cash at bank and in hand | 54/58 | €806,992 | €112,344 | -€694,648 | -86.1% |
| Deferred charges and accrued income | 490/1 | €30,173 | €43,596 | +€13,423 | +44.5% |
| Total equity and liabilities | 10/49 | €29,490,559 | €21,149,642 | -€8.3m | -28.3% |
| Equity | 10/15 | €2,749,453 | €3,006,775 | +€257,322 | +9.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €1,291,750 | €1,291,750 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,437,243 | €1,694,565 | +€257,322 | +17.9% |
| Amounts payable | 17/49 | €26,741,106 | €18,142,867 | -€8.6m | -32.2% |
| Amounts payable after more than one year | 17 | €2,887,261 | €3,595,160 | +€707,899 | +24.5% |
| Financial debts | 170/4 | €2,887,261 | €3,595,160 | +€707,899 | +24.5% |
| Leasing and similar obligations | 172 | €144,178 | €79,176 | -€65,002 | -45.1% |
| Credit institutions | 173 | €493,083 | €415,984 | -€77,099 | -15.6% |
| Other loans | 174 | €2,250,000 | €3,100,000 | +€850,000 | +37.8% |
| Amounts payable within one year | 42/48 | €22,450,638 | €14,517,557 | -€7.9m | -35.3% |
| Current portion of amounts payable after more than one year | 42 | €819,509 | €163,901 | -€655,608 | -80.0% |
| Financial debts | 43 | €2,924,797 | €3,364,876 | +€440,078 | +15.0% |
| Credit institutions | 430/8 | €2,924,797 | €3,364,876 | +€440,078 | +15.0% |
| Trade debts | 44 | €2,284,597 | €1,824,481 | -€460,116 | -20.1% |
| Suppliers | 440/4 | €2,284,597 | €1,824,481 | -€460,116 | -20.1% |
| Advances received on contracts in progress | 46 | €4,500,000 | - | -€4.5m | |
| Taxes, remuneration and social security | 45 | €497,808 | €144,414 | -€353,394 | -71.0% |
| Taxes | 450/3 | €349,434 | €3,311 | -€346,123 | -99.1% |
| Remuneration and social security | 454/9 | €148,373 | €141,103 | -€7,271 | -4.9% |
| Other amounts payable | 47/48 | €11,423,928 | €9,019,885 | -€2.4m | -21.0% |
| Accrued charges and deferred income | 492/3 | €1,403,206 | €30,150 | -€1.4m | -97.9% |
| Operating income | 70/76A | €33,000,464 | €20,428,545 | -€12.6m | -38.1% |
| Turnover | 70 | €32,758,574 | €20,245,654 | -€12.5m | -38.2% |
| Other operating income | 74 | €218,090 | €182,892 | -€35,199 | -16.1% |
| Non-recurring operating income | 76A | €23,800 | - | -€23,800 | |
| Operating charges | 60/66A | €30,523,877 | €20,604,136 | -€9.9m | -32.5% |
| Goods for resale, raw materials and consumables | 60 | €27,509,732 | €15,971,397 | -€11.5m | -41.9% |
| Purchases | 600/8 | €25,090,867 | €11,842,916 | -€13.2m | -52.8% |
| Change in stocks: decrease (increase) | 609 | €2,418,865 | €4,128,481 | +€1.7m | +70.7% |
| Services and other goods | 61 | €1,125,090 | €2,912,811 | +€1.8m | +159% |
| Remuneration, social security and pensions | 62 | €1,175,513 | €1,429,560 | +€254,047 | +21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €233,648 | €169,840 | -€63,808 | -27.3% |
| Other operating charges | 640/8 | €107,393 | €34,108 | -€73,284 | -68.2% |
| Non-recurring operating charges | 66A | €372,500 | €86,419 | -€286,081 | -76.8% |
| Operating profit (loss) | 9901 | €2,476,587 | -€175,591 | -€2.7m | |
| Financial income | 75/76B | €9,716 | €1,812,930 | +€1.8m | +18,559% |
| Recurring financial income | 75 | €9,716 | €1,605,819 | +€1.6m | +16,427% |
| Income from financial fixed assets | 750 | - | €1,600,000 | +€1.6m | |
| Other financial income | 752/9 | €9,716 | €5,819 | -€3,897 | -40.1% |
| Non-recurring financial income | 76B | - | €207,111 | +€207,111 | |
| Financial charges | 65/66B | €2,361,901 | €1,376,706 | -€985,194 | -41.7% |
| Recurring financial charges | 65 | €2,361,901 | €1,376,706 | -€985,194 | -41.7% |
| Debt charges | 650 | €1,998,027 | €1,162,136 | -€835,891 | -41.8% |
| Other financial charges | 652/9 | €363,873 | €214,570 | -€149,303 | -41.0% |
| Profit (loss) for the period before taxes | 9903 | €124,403 | €260,633 | +€136,230 | +110% |
| Income taxes | 67/77 | €16,881 | €3,311 | -€13,570 | -80.4% |
| Taxes | 670/3 | €16,881 | €3,311 | -€13,570 | -80.4% |
| Profit (loss) for the period | 9904 | €107,522 | €257,322 | +€149,800 | +139% |
| Profit (loss) for the period to be appropriated | 9905 | €107,522 | €257,322 | +€149,800 | +139% |
Source: filed annual accounts (NBB), financial years ended 30 September 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.