AS BUILDING: 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.
AS BUILDING
Largest movements
- Stocks and contracts -€93,609
no longer reported in 2025 (was €93,609)
- Cash +€35,962
up €35,962 (+150%), from €23,948 to €59,910
mainly Stocks and contracts (+€93,609) and Other debts (+€62,836)
- Deferred charges and accrued income -€32,489
down €32,489 (-94.8%), from €34,277 to €1,787
- Tangible fixed assets +€13,070
up €13,070 (+116%), from €11,281 to €24,351
of which Plant, machinery and equipment: +€11,047
- Debts after one year -€78,684
down €78,684 (-77.0%), from €102,153 to €23,469
- Trade debts -€74,099
down €74,099 (-14.8%), from €499,453 to €425,354
- Reserves +€72,913
up €72,913 (+75.2%), from €96,960 to €169,873
of which Distributable reserves: +€70,913
- Other debts +€62,836
up €62,836 (+202%), from €31,031 to €93,866
- Profit (loss) carried forward -€33,071
no longer reported in 2025 (was €33,071)
- Staff costs -€61,362
down €61,362 (-24.7%), from €248,015 to €186,653
- Gross operating margin -€35,840
down €35,840 (-10.8%), from €332,109 to €296,269
- Financial charges +€26,535
up €26,535 (+137%), from €19,388 to €45,923
of which Non-recurring financial charges: +€32,000
- Taxes +€7,418
up €7,418 (+84.3%), from €8,797 to €16,214
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 | €911,870 | €827,387 | -€84,483 | -9.3% |
| Fixed assets | 21/28 | €11,281 | €24,351 | +€13,070 | +116% |
| Tangible fixed assets | 22/27 | €11,281 | €24,351 | +€13,070 | +116% |
| Plant, machinery and equipment | 23 | €1,307 | €12,354 | +€11,047 | +845% |
| Furniture and vehicles | 24 | €9,973 | €11,997 | +€2,023 | +20.3% |
| Current assets | 29/58 | €900,589 | €803,036 | -€97,553 | -10.8% |
| Stocks and contracts in progress | 3 | €93,609 | - | -€93,609 | |
| Contracts in progress | 37 | €93,609 | - | -€93,609 | |
| Amounts receivable within one year | 40/41 | €748,756 | €741,339 | -€7,416 | -1.0% |
| Trade receivables | 40 | €697,979 | €734,796 | +€36,817 | +5.3% |
| Other amounts receivable | 41 | €50,777 | €6,544 | -€44,233 | -87.1% |
| Cash at bank and in hand | 54/58 | €23,948 | €59,910 | +€35,962 | +150% |
| Deferred charges and accrued income | 490/1 | €34,277 | €1,787 | -€32,489 | -94.8% |
| Total equity and liabilities | 10/49 | €911,870 | €827,387 | -€84,483 | -9.3% |
| Equity | 10/15 | €150,031 | €189,873 | +€39,842 | +26.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €96,960 | €169,873 | +€72,913 | +75.2% |
| Non-distributable reserves | 130/1 | - | €2,000 | +€2,000 | |
| Reserves not available under the articles | 1311 | - | €2,000 | +€2,000 | |
| Distributable reserves | 133 | €96,960 | €167,873 | +€70,913 | +73.1% |
| Profit (loss) carried forward | 14 | €33,071 | - | -€33,071 | |
| Amounts payable | 17/49 | €761,839 | €637,514 | -€124,325 | -16.3% |
| Amounts payable after more than one year | 17 | €102,153 | €23,469 | -€78,684 | -77.0% |
| Financial debts | 170/4 | €102,153 | €23,469 | -€78,684 | -77.0% |
| Amounts payable within one year | 42/48 | €649,254 | €614,045 | -€35,210 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €6,119 | €5,751 | -€367 | -6.0% |
| Financial debts | 43 | €60,000 | €60,000 | = | 0.0% |
| Credit institutions | 430/8 | €60,000 | €60,000 | = | 0.0% |
| Trade debts | 44 | €499,453 | €425,354 | -€74,099 | -14.8% |
| Suppliers | 440/4 | €499,453 | €425,354 | -€74,099 | -14.8% |
| Taxes, remuneration and social security | 45 | €52,652 | €29,073 | -€23,579 | -44.8% |
| Taxes | 450/3 | €17,333 | €26,742 | +€9,409 | +54.3% |
| Remuneration and social security | 454/9 | €35,319 | €2,331 | -€32,988 | -93.4% |
| Other amounts payable | 47/48 | €31,031 | €93,866 | +€62,836 | +202% |
| Accrued charges and deferred income | 492/3 | €10,431 | - | -€10,431 | |
| Non-recurring operating income | 76A | €32,000 | - | -€32,000 | |
| Remuneration, social security and pensions | 62 | €248,015 | €186,653 | -€61,362 | -24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,076 | €5,171 | +€94 | +1.9% |
| Other operating charges | 640/8 | €7,419 | €5,952 | -€1,467 | -19.8% |
| Non-recurring operating charges | 66A | €32,000 | - | -€32,000 | |
| Gross operating margin | 9900 | €332,109 | €296,269 | -€35,840 | -10.8% |
| Operating profit (loss) | 9901 | €39,598 | €98,493 | +€58,894 | +149% |
| Financial income | 75/76B | €388 | €3,487 | +€3,099 | +799% |
| Recurring financial income | 75 | €388 | €3,487 | +€3,099 | +799% |
| Financial charges | 65/66B | €19,388 | €45,923 | +€26,535 | +137% |
| Recurring financial charges | 65 | €19,388 | €13,923 | -€5,465 | -28.2% |
| Non-recurring financial charges | 66B | - | €32,000 | +€32,000 | |
| Profit (loss) for the period before taxes | 9903 | €20,598 | €56,057 | +€35,459 | +172% |
| Income taxes | 67/77 | €8,797 | €16,214 | +€7,418 | +84.3% |
| Profit (loss) for the period | 9904 | €11,801 | €39,842 | +€28,041 | +238% |
| Profit (loss) for the period to be appropriated | 9905 | €11,801 | €39,842 | +€28,041 | +238% |
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 23 October 2026 via checked.be.