B-DEVELOPMENT: 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.
What changed
B-DEVELOPMENT
NACE 68.121, Development of residential building projects
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€1.4m
2023 · -€861-€1.4m
Equity
€6.4m
2023 · €7.8m-€1.4m
Cash
€556,460
2023 · €879,104-€322,644
Balance sheet total
€20.5m
2023 · €24.5m-€4.1m
Largest movements
Assets
- Intangible fixed assets -€1.2m
down €1.2m (-40.0%), from €2.9m to €1.7m
- Stocks and contracts -€1.1m
down €1.1m (-34.2%), from €3.1m to €2.0m
- Tangible fixed assets -€531,619
down €531,619 (-40.0%), from €1.3m to €795,774
of which Land and buildings: -€523,453
- Receivables after one year -€470,931
down €470,931 (-13.8%), from €3.4m to €2.9m
- Cash -€322,644
down €322,644 (-36.7%), from €879,104 to €556,460
mainly Short-term financial debts (-€1.9m) and Net result for the year (-€1.4m)
Equity and liabilities
- Short-term financial debts -€1.9m
down €1.9m (-39.5%), from €4.9m to €3.0m
of which Credit institutions: -€1.9m
- Profit (loss) carried forward -€1.4m
down €1.4m (-22.2%), from €6.3m to €4.9m
- Trade debts -€1.2m
down €1.2m (-56.6%), from €2.1m to €900,607
- Other debts +€978,408
up €978,408 (+64.6%), from €1.5m to €2.5m
- Debts after one year -€804,159
down €804,159 (-10.4%), from €7.8m to €6.9m
Income statement
- Turnover -€3.8m
down €3.8m (-53.1%), from €7.1m to €3.4m
- Goods and materials -€1.3m
down €1.3m (-55.2%), from €2.3m to €1.0m
of which Change in stocks: decrease (increase): -€1.2m
- Other operating charges -€713,328
down €713,328 (-95.7%), from €745,228 to €31,900
- Depreciation +€487,990
up €487,990 (+67.2%), from €725,815 to €1.2m
- Financial charges -€320,767
down €320,767 (-30.8%), from €1.0m to €721,452
From the 2023 result to the 2024 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 2023
-€861
Turnover
-€3.8m
Other operating income
+€14,155
Goods and materials
+€1.3m
Services and other goods
+€240,670
Staff costs
+€297,960
Depreciation
-€487,990
Write-downs
-€122,547
Provisions
+€200,000
Other operating charges
+€713,328
Other operating items
+€119,493
Financial income
-€77,031
Financial charges
+€320,767
Taxes
-€99,436
Result 2024
-€1.4m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.9m
Investment
+€479,809
Financing
-€2.7m
Cash 2023
€879,104
From operations (derived)
+€1.9m
Net result for the year
-€1.4m
Depreciation
+€1.2m
Receivables after one year
+€470,931
Stocks and contracts
+€1.1m
Receivables within one year
+€318,647
Deferred charges and accrued income
+€225,460
Trade debts
-€1.2m
Tax, wage and social debts
+€235,619
Other debts
+€978,408
Accrued charges and deferred income
+€35,490
Investment (derived)
+€479,809
Investment in fixed assets (net)
+€479,809
Financing
-€2.7m
Debts after one year
-€804,159
Current portion of long-term debt
+€2,926
Short-term financial debts
-€1.9m
Cash 2024
€556,460
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,534,995 | €20,452,962 | -€4.1m | -16.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €13,020,046 | €11,326,432 | -€1.7m | -13.0% |
| Intangible fixed assets | 21 | €2,903,439 | €1,742,064 | -€1.2m | -40.0% |
| Tangible fixed assets | 22/27 | €1,327,393 | €795,774 | -€531,619 | -40.0% |
| Land and buildings | 22 | €1,255,802 | €732,349 | -€523,453 | -41.7% |
| Plant, machinery and equipment | 23 | €65,030 | €55,149 | -€9,881 | -15.2% |
| Furniture and vehicles | 24 | €6,561 | €8,276 | +€1,715 | +26.1% |
| Financial fixed assets | 28 | €8,789,214 | €8,788,594 | -€620 | 0.0% |
| Affiliated companies | 280/1 | €8,639,720 | €8,639,100 | -€620 | 0.0% |
| Participating interests | 280 | €8,639,720 | €8,639,100 | -€620 | 0.0% |
| Other financial fixed assets | 284/8 | €149,494 | €149,494 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €149,494 | €149,494 | = | 0.0% |
| Current assets | 29/58 | €11,514,949 | €9,126,530 | -€2.4m | -20.7% |
| Amounts receivable after more than one year | 29 | €3,412,984 | €2,942,053 | -€470,931 | -13.8% |
| Other amounts receivable | 291 | €3,412,984 | €2,942,053 | -€470,931 | -13.8% |
| Stocks and contracts in progress | 3 | €3,073,252 | €2,022,516 | -€1.1m | -34.2% |
| Stocks | 30/36 | €3,073,252 | €2,022,516 | -€1.1m | -34.2% |
| Property held for sale | 35 | €3,073,252 | €2,022,516 | -€1.1m | -34.2% |
| Amounts receivable within one year | 40/41 | €3,207,504 | €2,888,857 | -€318,647 | -9.9% |
| Trade receivables | 40 | €1,025,619 | €669,176 | -€356,443 | -34.8% |
| Other amounts receivable | 41 | €2,181,885 | €2,219,681 | +€37,796 | +1.7% |
| Cash at bank and in hand | 54/58 | €879,104 | €556,460 | -€322,644 | -36.7% |
| Deferred charges and accrued income | 490/1 | €942,104 | €716,644 | -€225,460 | -23.9% |
| Total equity and liabilities | 10/49 | €24,534,995 | €20,452,962 | -€4.1m | -16.6% |
| Equity | 10/15 | €7,841,421 | €6,430,532 | -€1.4m | -18.0% |
| Contributions | 10/11 | €721,540 | €721,540 | = | 0.0% |
| Capital | 10 | €173,500 | €173,500 | = | 0.0% |
| Issued capital | 100 | €173,500 | €173,500 | = | 0.0% |
| Outside capital | 11 | €548,040 | €548,040 | = | 0.0% |
| Share premium | 1100/10 | €529,440 | €529,440 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €772,140 | €772,140 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,260 | €14,260 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €757,880 | €757,880 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,347,741 | €4,936,852 | -€1.4m | -22.2% |
| Provisions and deferred taxes | 16 | €200,000 | €200,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €200,000 | €200,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable | 17/49 | €16,493,574 | €13,822,430 | -€2.7m | -16.2% |
| Amounts payable after more than one year | 17 | €7,751,700 | €6,947,541 | -€804,159 | -10.4% |
| Financial debts | 170/4 | €7,751,700 | €6,947,541 | -€804,159 | -10.4% |
| Unsubordinated bonds | 171 | €5,678,630 | €4,770,672 | -€907,959 | -16.0% |
| Credit institutions | 173 | €1,994,561 | €2,095,221 | +€100,659 | +5.0% |
| Other loans | 174 | €78,508 | €81,649 | +€3,140 | +4.0% |
| Amounts payable within one year | 42/48 | €8,741,874 | €6,839,399 | -€1.9m | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €206,421 | €209,347 | +€2,926 | +1.4% |
| Financial debts | 43 | €4,918,985 | €2,974,215 | -€1.9m | -39.5% |
| Credit institutions | 430/8 | €4,722,414 | €2,777,644 | -€1.9m | -41.2% |
| Other loans | 439 | €196,571 | €196,571 | = | 0.0% |
| Trade debts | 44 | €2,075,265 | €900,607 | -€1.2m | -56.6% |
| Suppliers | 440/4 | €2,075,265 | €900,607 | -€1.2m | -56.6% |
| Taxes, remuneration and social security | 45 | €27,106 | €262,725 | +€235,619 | +869.2% |
| Taxes | 450/3 | €21,839 | €241,094 | +€219,255 | +1004.0% |
| Remuneration and social security | 454/9 | €5,267 | €21,632 | +€16,364 | +310.7% |
| Other amounts payable | 47/48 | €1,514,096 | €2,492,505 | +€978,408 | +64.6% |
| Accrued charges and deferred income | 492/3 | €0 | €35,490 | +€35,490 | |
| Operating income | 70/76A | €7,247,069 | €3,608,082 | -€3.6m | -50.2% |
| Turnover | 70 | €7,149,478 | €3,354,238 | -€3.8m | -53.1% |
| Other operating income | 74 | €68,945 | €83,100 | +€14,155 | +20.5% |
| Non-recurring operating income | 76A | €28,646 | €170,744 | +€142,098 | +496.1% |
| Operating charges | 60/66A | €6,362,283 | €4,277,624 | -€2.1m | -32.8% |
| Goods for resale, raw materials and consumables | 60 | €2,294,439 | €1,028,597 | -€1.3m | -55.2% |
| Purchases | 600/8 | €460,307 | €388,731 | -€71,575 | -15.5% |
| Change in stocks: decrease (increase) | 609 | €1,834,133 | €639,866 | -€1.2m | -65.1% |
| Services and other goods | 61 | €1,679,176 | €1,438,505 | -€240,670 | -14.3% |
| Remuneration, social security and pensions | 62 | €418,933 | €120,972 | -€297,960 | -71.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €725,815 | €1,213,806 | +€487,990 | +67.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €288,323 | €410,870 | +€122,547 | +42.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €200,000 | €0 | -€200,000 | -100.0% |
| Other operating charges | 640/8 | €745,228 | €31,900 | -€713,328 | -95.7% |
| Non-recurring operating charges | 66A | €10,368 | €32,974 | +€22,605 | +218.0% |
| Operating profit (loss) | 9901 | €884,786 | -€669,542 | -€1.6m | |
| Financial income | 75/76B | €222,139 | €145,108 | -€77,031 | -34.7% |
| Recurring financial income | 75 | €222,139 | €145,108 | -€77,031 | -34.7% |
| Income from financial fixed assets | 750 | €205,087 | €144,427 | -€60,660 | -29.6% |
| Income from current assets | 751 | €15,322 | €483 | -€14,840 | -96.9% |
| Other financial income | 752/9 | €1,730 | €199 | -€1,531 | -88.5% |
| Financial charges | 65/66B | €1,042,220 | €721,452 | -€320,767 | -30.8% |
| Recurring financial charges | 65 | €1,042,220 | €721,452 | -€320,767 | -30.8% |
| Debt charges | 650 | €1,006,306 | €712,065 | -€294,242 | -29.2% |
| Other financial charges | 652/9 | €35,913 | €9,388 | -€26,526 | -73.9% |
| Profit (loss) for the period before taxes | 9903 | €64,706 | -€1,245,886 | -€1.3m | |
| Income taxes | 67/77 | €65,567 | €165,003 | +€99,436 | +151.7% |
| Taxes | 670/3 | €65,567 | €165,003 | +€99,436 | +151.7% |
| Profit (loss) for the period | 9904 | -€861 | -€1,410,889 | -€1.4m | -163773.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€861 | -€1,410,889 | -€1.4m | -163773.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.