ALL PROJECTS & DEVELOPMENTS: 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
ALL PROJECTS & DEVELOPMENTS
NACE 68.110, Buying and selling of own real estate
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€313,026
2024 · -€255,557+€568,583
Equity
€12.9m
2024 · €12.7m+€188,026
Cash
€242,841
2024 · €698,435-€455,594
Balance sheet total
€56.0m
2024 · €57.7m-€1.7m
Largest movements
Assets
- Receivables within one year -€2.1m
down €2.1m (-59.8%), from €3.5m to €1.4m
of which Trade receivables: -€2.1m
- Stocks and contracts +€787,209
up €787,209 (+1.7%), from €45.3m to €46.1m
Equity and liabilities
- Short-term financial debts +€2.9m
up €2.9m (+20.5%), from €14.1m to €17.0m
- Debts after one year -€2.5m
down €2.5m (-9.1%), from €26.8m to €24.3m
of which Financial debts: -€2.8m
- Other debts -€1.9m
down €1.9m (-77.0%), from €2.5m to €574,388
Income statement
- Goods and materials +€726,512
up €726,512 (+12.3%), from €5.9m to €6.6m
of which Purchases: +€3.3m
- Turnover +€560,310
up €560,310 (+6.3%), from €8.9m to €9.5m
- Financial income +€329,234
up €329,234 (+104.1%), from €316,148 to €645,383
of which Financial income: +€400,290
- Staff costs -€234,249
down €234,249 (-36.7%), from €638,745 to €404,496
- Services and other goods -€157,868
down €157,868 (-24.6%), from €642,829 to €484,962
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.
Result 2024
-€255,557
Turnover
+€560,310
Other operating income
+€20,173
Goods and materials
-€726,512
Services and other goods
+€157,868
Staff costs
+€234,249
Depreciation
+€8,839
Write-downs
-€78,422
Other operating charges
+€1,232
Other operating items
-€413
Financial income
+€329,234
Financial charges
+€61,702
Taxes
+€323
Result 2025
€313,026
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.
From operations
-€655,650
Investment
-€365,644
Financing
+€565,700
Cash 2024
€698,435
From operations (derived)
-€655,650
Net result for the year
+€313,026
Depreciation
+€95,683
Receivables after one year
-€22,731
Stocks and contracts
-€787,209
Receivables within one year
+€2.1m
Deferred charges and accrued income
+€187,979
Trade debts
-€442,389
Tax, wage and social debts
-€67,926
Other debts
-€1.9m
Accrued charges and deferred income
-€117,342
Investment (derived)
-€365,644
Investment in fixed assets (net)
-€365,644
Financing
+€565,700
Debts after one year
-€2.5m
Current portion of long-term debt
+€251,383
Short-term financial debts
+€2.9m
Contributions, distributions and other
-€125,000
Cash 2025
€242,841
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €57,652,421 | €55,981,131 | -€1.7m | -2.9% |
| Fixed assets | 21/28 | €7,333,717 | €7,603,677 | +€269,961 | +3.7% |
| Intangible fixed assets | 21 | €15,237 | €11,976 | -€3,260 | -21.4% |
| Tangible fixed assets | 22/27 | €4,578,043 | €4,850,176 | +€272,132 | +5.9% |
| Land and buildings | 22 | €1,045,746 | €989,660 | -€56,086 | -5.4% |
| Plant, machinery and equipment | 23 | €17,152 | €16,200 | -€951 | -5.5% |
| Furniture and vehicles | 24 | €34,459 | €30,471 | -€3,988 | -11.6% |
| Other tangible fixed assets | 26 | €937,144 | €912,950 | -€24,194 | -2.6% |
| Assets under construction and advance payments | 27 | €2,543,543 | €2,900,894 | +€357,351 | +14.0% |
| Financial fixed assets | 28 | €2,740,436 | €2,741,525 | +€1,089 | 0.0% |
| Affiliated companies | 280/1 | €2,737,826 | €2,737,826 | = | 0.0% |
| Participating interests | 280 | €2,737,826 | €2,737,826 | = | 0.0% |
| Other financial fixed assets | 284/8 | €2,610 | €3,699 | +€1,089 | +41.7% |
| Amounts receivable and cash guarantees | 285/8 | €2,610 | €3,699 | +€1,089 | +41.7% |
| Current assets | 29/58 | €50,318,704 | €48,377,454 | -€1.9m | -3.9% |
| Amounts receivable after more than one year | 29 | €472,819 | €495,550 | +€22,731 | +4.8% |
| Other amounts receivable | 291 | €472,819 | €495,550 | +€22,731 | +4.8% |
| Stocks and contracts in progress | 3 | €45,349,512 | €46,136,721 | +€787,209 | +1.7% |
| Stocks | 30/36 | €45,349,512 | €46,136,721 | +€787,209 | +1.7% |
| Property held for sale | 35 | €45,262,762 | €46,131,721 | +€868,959 | +1.9% |
| Advance payments | 36 | €86,750 | €5,000 | -€81,750 | -94.2% |
| Amounts receivable within one year | 40/41 | €3,525,028 | €1,417,411 | -€2.1m | -59.8% |
| Trade receivables | 40 | €3,123,572 | €987,734 | -€2.1m | -68.4% |
| Other amounts receivable | 41 | €401,456 | €429,678 | +€28,221 | +7.0% |
| Cash at bank and in hand | 54/58 | €698,435 | €242,841 | -€455,594 | -65.2% |
| Deferred charges and accrued income | 490/1 | €272,910 | €84,931 | -€187,979 | -68.9% |
| Total equity and liabilities | 10/49 | €57,652,421 | €55,981,131 | -€1.7m | -2.9% |
| Equity | 10/15 | €12,714,532 | €12,902,558 | +€188,026 | +1.5% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €12,006,250 | €12,006,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €12,000,000 | €12,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €645,782 | €833,808 | +€188,026 | +29.1% |
| Amounts payable | 17/49 | €44,937,889 | €43,078,574 | -€1.9m | -4.1% |
| Amounts payable after more than one year | 17 | €26,797,755 | €24,346,583 | -€2.5m | -9.1% |
| Financial debts | 170/4 | €26,793,255 | €24,039,759 | -€2.8m | -10.3% |
| Credit institutions | 173 | €26,793,255 | €24,039,759 | -€2.8m | -10.3% |
| Trade debts | 175 | - | €302,324 | +€302,324 | |
| Suppliers | 1750 | - | €302,324 | +€302,324 | |
| Other amounts payable | 178/9 | €4,500 | €4,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €17,802,768 | €18,511,966 | +€709,198 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €315,254 | €566,638 | +€251,383 | +79.7% |
| Financial debts | 43 | €14,121,484 | €17,011,971 | +€2.9m | +20.5% |
| Credit institutions | 430/8 | €14,121,484 | €17,011,971 | +€2.9m | +20.5% |
| Trade debts | 44 | €732,671 | €290,283 | -€442,389 | -60.4% |
| Suppliers | 440/4 | €732,671 | €290,283 | -€442,389 | -60.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €136,611 | €68,686 | -€67,926 | -49.7% |
| Taxes | 450/3 | €29,146 | €18,166 | -€10,980 | -37.7% |
| Remuneration and social security | 454/9 | €107,465 | €50,520 | -€56,945 | -53.0% |
| Other amounts payable | 47/48 | €2,496,747 | €574,388 | -€1.9m | -77.0% |
| Accrued charges and deferred income | 492/3 | €337,367 | €220,025 | -€117,342 | -34.8% |
| Operating income | 70/76A | €9,024,293 | €9,604,362 | +€580,070 | +6.4% |
| Turnover | 70 | €8,891,764 | €9,452,074 | +€560,310 | +6.3% |
| Other operating income | 74 | €132,116 | €152,289 | +€20,173 | +15.3% |
| Non-recurring operating income | 76A | €413 | €0 | -€413 | -100.0% |
| Operating charges | 60/66A | €7,325,578 | €7,728,324 | +€402,746 | +5.5% |
| Goods for resale, raw materials and consumables | 60 | €5,913,710 | €6,640,222 | +€726,512 | +12.3% |
| Purchases | 600/8 | €4,319,098 | €7,587,603 | +€3.3m | +75.7% |
| Change in stocks: decrease (increase) | 609 | €1,594,612 | -€947,381 | -€2.5m | |
| Services and other goods | 61 | €642,829 | €484,962 | -€157,868 | -24.6% |
| Remuneration, social security and pensions | 62 | €638,745 | €404,496 | -€234,249 | -36.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,523 | €95,683 | -€8,839 | -8.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €78,422 | +€78,422 | |
| Other operating charges | 640/8 | €25,771 | €24,539 | -€1,232 | -4.8% |
| Operating profit (loss) | 9901 | €1,698,714 | €1,876,038 | +€177,324 | +10.4% |
| Financial income | 75/76B | €316,148 | €645,383 | +€329,234 | +104.1% |
| Recurring financial income | 75 | €245,092 | €645,383 | +€400,290 | +163.3% |
| Income from financial fixed assets | 750 | €243,467 | €644,998 | +€401,530 | +164.9% |
| Income from current assets | 751 | €623 | €379 | -€244 | -39.2% |
| Other financial income | 752/9 | €1,002 | €6 | -€996 | -99.4% |
| Non-recurring financial income | 76B | €71,056 | €0 | -€71,056 | -100.0% |
| Financial charges | 65/66B | €2,269,976 | €2,208,274 | -€61,702 | -2.7% |
| Recurring financial charges | 65 | €2,269,976 | €2,208,274 | -€61,702 | -2.7% |
| Debt charges | 650 | €2,249,367 | €2,196,898 | -€52,470 | -2.3% |
| Other financial charges | 652/9 | €20,608 | €11,376 | -€9,232 | -44.8% |
| Profit (loss) for the period before taxes | 9903 | -€255,113 | €313,147 | +€568,260 | |
| Income taxes | 67/77 | €443 | €121 | -€323 | -72.8% |
| Taxes | 670/3 | €505 | €257 | -€249 | -49.2% |
| Tax adjustments and reversals of tax provisions | 77 | €62 | €136 | +€74 | +119.4% |
| Profit (loss) for the period | 9904 | -€255,557 | €313,026 | +€568,583 | |
| Profit (loss) for the period to be appropriated | 9905 | -€255,557 | €313,026 | +€568,583 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.