AS-BAU: 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
AS-BAU
NACE 41.001, General construction of residential buildings
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€34,442
2024 · €52,100-€17,658
Equity
€91,629
2024 · €60,154+€31,475
Cash
€211,850
2024 · €216,630-€4,781
Balance sheet total
€772,866
2024 · €963,626-€190,760
Largest movements
Assets
- Receivables within one year -€198,295
down €198,295 (-56.9%), from €348,487 to €150,192
of which Trade receivables: -€194,307
Equity and liabilities
- Short-term financial debts -€140,000
no longer reported in 2025 (was €140,000)
- Tax, wage and social debts -€66,228
down €66,228 (-66.3%), from €99,903 to €33,674
of which Remuneration and social security: -€66,179
- Debts after one year -€42,442
down €42,442 (-17.2%), from €246,591 to €204,149
- Profit (loss) carried forward +€34,442
up €34,442 (+35.2%), from -€97,915 to -€63,472
- Trade debts +€22,407
up €22,407 (+34.7%), from €64,524 to €86,930
Income statement
- Gross operating margin -€127,636
down €127,636 (-10.5%), from €1.2m to €1.1m
- Staff costs -€106,100
down €106,100 (-10.7%), from €989,900 to €883,800
- Financial charges +€21,119
up €21,119 (+63.6%), from €33,226 to €54,346
- Financial income +€15,899
up €15,899 (+192%), from €8,285 to €24,184
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
€52,100
Gross operating margin
-€127,636
Staff costs
+€106,100
Depreciation
-€1,083
Other operating charges
-€318
Other operating items
+€10,500
Financial income
+€15,899
Financial charges
-€21,119
Result 2025
€34,442
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€337,963
Investment
-€144,155
Financing
-€198,589
Cash 2024
€216,630
From operations (derived)
+€337,963
Net result for the year
+€34,442
Depreciation
+€131,532
Stocks and contracts
+€2,282
Receivables within one year
+€198,295
Deferred charges and accrued income
-€1,976
Trade debts
+€22,407
Tax, wage and social debts
-€66,228
Advances received
+€17,762
Accrued charges and deferred income
-€553
Investment (derived)
-€144,155
Investment in fixed assets (net)
-€144,155
Financing
-€198,589
Debts after one year
-€42,442
Current portion of long-term debt
-€13,179
Short-term financial debts
-€140,000
Contributions, distributions and other
-€2,967
Cash 2025
€211,850
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €963,626 | €772,866 | -€190,760 | -19.8% |
| Fixed assets | 21/28 | €275,052 | €287,675 | +€12,623 | +4.6% |
| Intangible fixed assets | 21 | €2,632 | €2,086 | -€546 | -20.7% |
| Tangible fixed assets | 22/27 | €269,835 | €279,333 | +€9,498 | +3.5% |
| Land and buildings | 22 | €28,270 | €22,360 | -€5,909 | -20.9% |
| Plant, machinery and equipment | 23 | €116,735 | €103,312 | -€13,423 | -11.5% |
| Furniture and vehicles | 24 | €28,866 | €38,806 | +€9,941 | +34.4% |
| Leasing and similar rights | 25 | €95,964 | €114,855 | +€18,891 | +19.7% |
| Financial fixed assets | 28 | €2,585 | €6,255 | +€3,670 | +142% |
| Current assets | 29/58 | €688,574 | €485,191 | -€203,382 | -29.5% |
| Stocks and contracts in progress | 3 | €116,338 | €114,056 | -€2,282 | -2.0% |
| Stocks | 30/36 | €74,949 | €76,756 | +€1,807 | +2.4% |
| Contracts in progress | 37 | €41,389 | €37,300 | -€4,089 | -9.9% |
| Amounts receivable within one year | 40/41 | €348,487 | €150,192 | -€198,295 | -56.9% |
| Trade receivables | 40 | €298,975 | €104,668 | -€194,307 | -65.0% |
| Other amounts receivable | 41 | €49,512 | €45,524 | -€3,988 | -8.1% |
| Cash at bank and in hand | 54/58 | €216,630 | €211,850 | -€4,781 | -2.2% |
| Deferred charges and accrued income | 490/1 | €7,119 | €9,094 | +€1,976 | +27.8% |
| Total equity and liabilities | 10/49 | €963,626 | €772,866 | -€190,760 | -19.8% |
| Equity | 10/15 | €60,154 | €91,629 | +€31,475 | +52.3% |
| Contributions | 10/11 | €145,382 | €145,382 | = | 0.0% |
| Capital | 10 | €143,451 | €143,451 | = | 0.0% |
| Issued capital | 100 | €143,451 | €143,451 | = | 0.0% |
| Contributions outside capital | 11 | €1,931 | €1,931 | = | 0.0% |
| Share premium | 1100/10 | €1,931 | €1,931 | = | 0.0% |
| Reserves | 13 | €5,850 | €5,850 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,850 | €5,850 | = | 0.0% |
| Legal reserve | 130 | €5,850 | €5,850 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€97,915 | -€63,472 | +€34,442 | +35.2% |
| Investment grants | 15 | €6,836 | €3,869 | -€2,967 | -43.4% |
| Amounts payable | 17/49 | €903,472 | €681,237 | -€222,235 | -24.6% |
| Amounts payable after more than one year | 17 | €246,591 | €204,149 | -€42,442 | -17.2% |
| Financial debts | 170/4 | €246,591 | €204,149 | -€42,442 | -17.2% |
| Amounts payable within one year | 42/48 | €655,990 | €476,750 | -€179,239 | -27.3% |
| Current portion of amounts payable after more than one year | 42 | €129,325 | €116,145 | -€13,179 | -10.2% |
| Financial debts | 43 | €140,000 | - | -€140,000 | |
| Credit institutions | 430/8 | €140,000 | - | -€140,000 | |
| Trade debts | 44 | €64,524 | €86,930 | +€22,407 | +34.7% |
| Suppliers | 440/4 | €64,524 | €86,930 | +€22,407 | +34.7% |
| Advances received on contracts in progress | 46 | €222,238 | €240,000 | +€17,762 | +8.0% |
| Taxes, remuneration and social security | 45 | €99,903 | €33,674 | -€66,228 | -66.3% |
| Taxes | 450/3 | €1,876 | €1,826 | -€50 | -2.6% |
| Remuneration and social security | 454/9 | €98,027 | €31,848 | -€66,179 | -67.5% |
| Accrued charges and deferred income | 492/3 | €891 | €338 | -€553 | -62.1% |
| Remuneration, social security and pensions | 62 | €989,900 | €883,800 | -€106,100 | -10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,449 | €131,532 | +€1,083 | +0.8% |
| Other operating charges | 640/8 | €4,936 | €5,254 | +€318 | +6.4% |
| Non-recurring operating charges | 66A | €10,500 | - | -€10,500 | |
| Gross operating margin | 9900 | €1,212,826 | €1,085,191 | -€127,636 | -10.5% |
| Operating profit (loss) | 9901 | €77,041 | €64,604 | -€12,437 | -16.1% |
| Financial income | 75/76B | €8,285 | €24,184 | +€15,899 | +192% |
| Recurring financial income | 75 | €8,285 | €24,184 | +€15,899 | +192% |
| Financial charges | 65/66B | €33,226 | €54,346 | +€21,119 | +63.6% |
| Recurring financial charges | 65 | €33,226 | €54,346 | +€21,119 | +63.6% |
| Profit (loss) for the period before taxes | 9903 | €52,100 | €34,442 | -€17,658 | -33.9% |
| Profit (loss) for the period | 9904 | €52,100 | €34,442 | -€17,658 | -33.9% |
| Profit (loss) for the period to be appropriated | 9905 | €52,100 | €34,442 | -€17,658 | -33.9% |
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 18 October 2026 via checked.be.