ALL - STYLE CONSTRUCT: 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.
ALL - STYLE CONSTRUCT
Largest movements
- Tangible fixed assets -€227,810
down €227,810 (-11.3%), from €2.0m to €1.8m
of which Plant, machinery and equipment: -€124,838
- Receivables within one year +€63,565
up €63,565 (+32.9%), from €193,327 to €256,892
of which Trade receivables: +€69,871
- Cash -€63,199
down €63,199 (-43.7%), from €144,609 to €81,410
mainly Other debts (-€305,805) and Receivables within one year (-€63,565)
- Other debts -€305,805
down €305,805 (-88.3%), from €346,281 to €40,476
- Debts after one year +€206,996
up €206,996 (+30.8%), from €671,988 to €878,984
- Trade debts -€50,434
down €50,434 (-69.2%), from €72,878 to €22,444
- Reserves -€32,431
down €32,431 (-3.0%), from €1.1m to €1.0m
of which Tax-exempt reserves: -€42,228
- Gross operating margin -€161,019
down €161,019 (-39.5%), from €407,946 to €246,927
- Depreciation +€16,899
up €16,899 (+7.1%), from €236,379 to €253,279
- Taxes -€9,721
down €9,721 (-66.9%), from €14,527 to €4,806
- Other operating charges -€5,556
down €5,556 (-65.0%), from €8,554 to €2,998
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.
Derived cash bridge
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 | €2,428,758 | €2,214,878 | -€213,880 | -8.8% |
| Fixed assets | 21/28 | €2,008,212 | €1,780,402 | -€227,810 | -11.3% |
| Tangible fixed assets | 22/27 | €2,008,212 | €1,780,402 | -€227,810 | -11.3% |
| Land and buildings | 22 | €1,600,705 | €1,511,300 | -€89,405 | -5.6% |
| Plant, machinery and equipment | 23 | €365,488 | €240,650 | -€124,838 | -34.2% |
| Furniture and vehicles | 24 | €42,019 | €28,452 | -€13,567 | -32.3% |
| Current assets | 29/58 | €420,545 | €434,476 | +€13,931 | +3.3% |
| Stocks and contracts in progress | 3 | €78,602 | €90,205 | +€11,603 | +14.8% |
| Stocks | 30/36 | €78,602 | €90,205 | +€11,603 | +14.8% |
| Amounts receivable within one year | 40/41 | €193,327 | €256,892 | +€63,565 | +32.9% |
| Trade receivables | 40 | €58,355 | €128,226 | +€69,871 | +120% |
| Other amounts receivable | 41 | €134,972 | €128,665 | -€6,306 | -4.7% |
| Cash at bank and in hand | 54/58 | €144,609 | €81,410 | -€63,199 | -43.7% |
| Deferred charges and accrued income | 490/1 | €4,007 | €5,969 | +€1,962 | +49.0% |
| Total equity and liabilities | 10/49 | €2,428,758 | €2,214,878 | -€213,880 | -8.8% |
| Equity | 10/15 | €1,088,649 | €1,056,218 | -€32,431 | -3.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,070,057 | €1,037,626 | -€32,431 | -3.0% |
| Tax-exempt reserves | 132 | €481,086 | €438,858 | -€42,228 | -8.8% |
| Distributable reserves | 133 | €588,971 | €598,768 | +€9,796 | +1.7% |
| Provisions and deferred taxes | 16 | €160,362 | €146,286 | -€14,076 | -8.8% |
| Deferred taxes | 168 | €160,362 | €146,286 | -€14,076 | -8.8% |
| Amounts payable | 17/49 | €1,179,747 | €1,012,374 | -€167,373 | -14.2% |
| Amounts payable after more than one year | 17 | €671,988 | €878,984 | +€206,996 | +30.8% |
| Financial debts | 170/4 | €671,988 | €878,984 | +€206,996 | +30.8% |
| Amounts payable within one year | 42/48 | €507,759 | €133,390 | -€374,369 | -73.7% |
| Current portion of amounts payable after more than one year | 42 | €68,004 | €68,004 | = | 0.0% |
| Financial debts | 43 | - | €103 | +€103 | |
| Credit institutions | 430/8 | - | €103 | +€103 | |
| Trade debts | 44 | €72,878 | €22,444 | -€50,434 | -69.2% |
| Suppliers | 440/4 | €72,878 | €22,444 | -€50,434 | -69.2% |
| Taxes, remuneration and social security | 45 | €20,595 | €2,362 | -€18,233 | -88.5% |
| Taxes | 450/3 | €18,346 | - | -€18,346 | |
| Remuneration and social security | 454/9 | €2,249 | €2,362 | +€113 | +5.0% |
| Other amounts payable | 47/48 | €346,281 | €40,476 | -€305,805 | -88.3% |
| Non-recurring operating income | 76A | €18,489 | - | -€18,489 | |
| Remuneration, social security and pensions | 62 | €17,804 | €18,628 | +€825 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €236,379 | €253,279 | +€16,899 | +7.1% |
| Other operating charges | 640/8 | €8,554 | €2,998 | -€5,556 | -65.0% |
| Gross operating margin | 9900 | €407,946 | €246,927 | -€161,019 | -39.5% |
| Operating profit (loss) | 9901 | €145,210 | -€27,977 | -€173,187 | |
| Financial income | 75/76B | €13 | €1,161 | +€1,148 | +8,780% |
| Recurring financial income | 75 | €13 | €1,161 | +€1,148 | +8,780% |
| Financial charges | 65/66B | €15,508 | €14,884 | -€623 | -4.0% |
| Recurring financial charges | 65 | €15,508 | €14,884 | -€623 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €129,715 | -€41,701 | -€171,416 | |
| Transfer from deferred taxes | 780 | €13,484 | €14,076 | +€592 | +4.4% |
| Transfer to deferred taxes | 680 | €31,066 | - | -€31,066 | |
| Income taxes | 67/77 | €14,527 | €4,806 | -€9,721 | -66.9% |
| Profit (loss) for the period | 9904 | €97,606 | -€32,431 | -€130,037 | |
| Transfer from tax-exempt reserves | 789 | €40,452 | €42,228 | +€1,775 | +4.4% |
| Transfer to tax-exempt reserves | 689 | €93,199 | - | -€93,199 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,859 | €9,796 | -€35,063 | -78.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.