As Built Projects: 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 Built Projects
Largest movements
- Receivables within one year +€131,353
up €131,353 (+166.4%), from €78,942 to €210,295
of which Other amounts receivable: +€101,503
- Current investments +€6,931
new in 2025: €6,931
- Other debts +€124,730
new in 2025: €124,730
- Short-term financial debts -€120,421
down €120,421 (-96.1%), from €125,355 to €4,933
of which Credit institutions: -€119,500
- Advances received +€50,820
new in 2025: €50,820
- Trade debts +€41,531
up €41,531 (+377.1%), from €11,014 to €52,545
- Reserves +€36,879
up €36,879 (+30.6%), from €120,646 to €157,525
- Financial charges +€10,472
up €10,472 (+2586.8%), from €405 to €10,877
of which Non-recurring financial charges: +€10,500
- Gross operating margin +€5,220
up €5,220 (+9.2%), from €56,699 to €61,919
- Financial income +€1,694
up €1,694 (+57.2%), from €2,963 to €4,657
- Other operating charges -€701
no longer reported in 2025 (was €701)
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 | €280,444 | €416,748 | +€136,304 | +48.6% |
| Fixed assets | 21/28 | €199,513 | €199,293 | -€220 | -0.1% |
| Tangible fixed assets | 22/27 | €2,013 | €1,793 | -€220 | -10.9% |
| Other tangible fixed assets | 26 | €2,013 | €1,793 | -€220 | -10.9% |
| Financial fixed assets | 28 | €197,500 | €197,500 | = | 0.0% |
| Current assets | 29/58 | €80,932 | €217,455 | +€136,524 | +168.7% |
| Amounts receivable within one year | 40/41 | €78,942 | €210,295 | +€131,353 | +166.4% |
| Trade receivables | 40 | €12,150 | €42,000 | +€29,850 | +245.7% |
| Other amounts receivable | 41 | €66,792 | €168,295 | +€101,503 | +152.0% |
| Current investments | 50/53 | - | €6,931 | +€6,931 | |
| Cash at bank and in hand | 54/58 | €1,989 | €230 | -€1,760 | -88.5% |
| Total equity and liabilities | 10/49 | €280,444 | €416,748 | +€136,304 | +48.6% |
| Equity | 10/15 | €124,646 | €161,525 | +€36,879 | +29.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €120,646 | €157,525 | +€36,879 | +30.6% |
| Distributable reserves | 133 | €120,646 | €157,525 | +€36,879 | +30.6% |
| Amounts payable | 17/49 | €155,798 | €255,223 | +€99,425 | +63.8% |
| Amounts payable within one year | 42/48 | €155,798 | €255,223 | +€99,425 | +63.8% |
| Financial debts | 43 | €125,355 | €4,933 | -€120,421 | -96.1% |
| Credit institutions | 430/8 | €119,500 | - | -€119,500 | |
| Other loans | 439 | €5,855 | €4,933 | -€921 | -15.7% |
| Trade debts | 44 | €11,014 | €52,545 | +€41,531 | +377.1% |
| Suppliers | 440/4 | €11,014 | €52,545 | +€41,531 | +377.1% |
| Advances received on contracts in progress | 46 | - | €50,820 | +€50,820 | |
| Taxes, remuneration and social security | 45 | €19,429 | €22,195 | +€2,765 | +14.2% |
| Taxes | 450/3 | €19,429 | €22,195 | +€2,765 | +14.2% |
| Other amounts payable | 47/48 | - | €124,730 | +€124,730 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €184 | €220 | +€35 | +19.2% |
| Other operating charges | 640/8 | €701 | - | -€701 | |
| Gross operating margin | 9900 | €56,699 | €61,919 | +€5,220 | +9.2% |
| Operating profit (loss) | 9901 | €55,814 | €61,699 | +€5,885 | +10.5% |
| Financial income | 75/76B | €2,963 | €4,657 | +€1,694 | +57.2% |
| Recurring financial income | 75 | €2,963 | €4,657 | +€1,694 | +57.2% |
| Financial charges | 65/66B | €405 | €10,877 | +€10,472 | +2586.8% |
| Recurring financial charges | 65 | €405 | €377 | -€28 | -6.9% |
| Non-recurring financial charges | 66B | - | €10,500 | +€10,500 | |
| Profit (loss) for the period before taxes | 9903 | €58,372 | €55,480 | -€2,893 | -5.0% |
| Income taxes | 67/77 | €18,660 | €18,600 | -€60 | -0.3% |
| Profit (loss) for the period | 9904 | €39,712 | €36,879 | -€2,833 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €39,712 | €36,879 | -€2,833 | -7.1% |
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.