AS BUILD: what changed
Two fiscal 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.
AS BUILD
Largest movements
- Receivables within one year +€52,381
up €52,381 (+104.3%), from €50,220 to €102,601
of which Trade receivables: +€49,454
- Stocks and contracts -€36,007
down €36,007 (-33.3%), from €108,020 to €72,013
- Cash -€2,878
down €2,878 (-74.2%), from €3,881 to €1,003
mainly Receivables within one year (-€52,381) and Other debts (-€36,555)
- Trade debts +€67,804
up €67,804 (+364.8%), from €18,585 to €86,389
- Other debts -€36,555
down €36,555 (-92.7%), from €39,435 to €2,880
- Profit (loss) carried forward -€17,936
down €17,936 (-23.1%), from €77,563 to €59,627
- Tax, wage and social debts -€1,983
down €1,983 (-12.0%), from €16,519 to €14,537
- Gross operating margin -€75,538
down €75,538, from €61,735 to -€13,803
- Taxes -€14,225
down €14,225 (-98.9%), from €14,381 to €156
- Other operating charges -€5,910
down €5,910 (-80.2%), from €7,366 to €1,456
- Depreciation -€1,883
down €1,883 (-72.5%), from €2,598 to €714
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €166,362 | €177,692 | +€11,330 | +6.8% |
| Fixed assets | 21/28 | €4,241 | €2,075 | -€2,166 | -51.1% |
| Tangible fixed assets | 22/27 | €3,194 | €1,854 | -€1,341 | -42.0% |
| Furniture and vehicles | 24 | €3,194 | €1,854 | -€1,341 | -42.0% |
| Financial fixed assets | 28 | €1,047 | €221 | -€826 | -78.9% |
| Current assets | 29/58 | €162,121 | €175,617 | +€13,497 | +8.3% |
| Stocks and contracts in progress | 3 | €108,020 | €72,013 | -€36,007 | -33.3% |
| Stocks | 30/36 | €108,020 | €72,013 | -€36,007 | -33.3% |
| Amounts receivable within one year | 40/41 | €50,220 | €102,601 | +€52,381 | +104.3% |
| Trade receivables | 40 | €50,220 | €99,673 | +€49,454 | +98.5% |
| Other amounts receivable | 41 | €1 | €2,928 | +€2,927 | +479821.3% |
| Cash at bank and in hand | 54/58 | €3,881 | €1,003 | -€2,878 | -74.2% |
| Total equity and liabilities | 10/49 | €166,362 | €177,692 | +€11,330 | +6.8% |
| Equity | 10/15 | €91,823 | €73,887 | -€17,936 | -19.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 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 | €77,563 | €59,627 | -€17,936 | -23.1% |
| Amounts payable | 17/49 | €74,539 | €103,806 | +€29,266 | +39.3% |
| Amounts payable within one year | 42/48 | €74,539 | €103,806 | +€29,266 | +39.3% |
| Trade debts | 44 | €18,585 | €86,389 | +€67,804 | +364.8% |
| Suppliers | 440/4 | €18,585 | €86,389 | +€67,804 | +364.8% |
| Taxes, remuneration and social security | 45 | €16,519 | €14,537 | -€1,983 | -12.0% |
| Taxes | 450/3 | €16,519 | €14,537 | -€1,983 | -12.0% |
| Other amounts payable | 47/48 | €39,435 | €2,880 | -€36,555 | -92.7% |
| Remuneration, social security and pensions | 62 | - | €434 | +€434 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,598 | €714 | -€1,883 | -72.5% |
| Other operating charges | 640/8 | €7,366 | €1,456 | -€5,910 | -80.2% |
| Gross operating margin | 9900 | €61,735 | -€13,803 | -€75,538 | |
| Operating profit (loss) | 9901 | €51,772 | -€16,407 | -€68,179 | |
| Financial income | 75/76B | - | €41 | +€41 | |
| Recurring financial income | 75 | - | €41 | +€41 | |
| Financial charges | 65/66B | €1,786 | €1,414 | -€372 | -20.8% |
| Recurring financial charges | 65 | €1,786 | €1,414 | -€372 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €49,986 | -€17,780 | -€67,767 | |
| Income taxes | 67/77 | €14,381 | €156 | -€14,225 | -98.9% |
| Profit (loss) for the period | 9904 | €35,605 | -€17,936 | -€53,541 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,605 | -€17,936 | -€53,541 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.