B & W PROJECTS: what changed
What changed
B & W PROJECTS
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
-€7,527
2025 · -€11,681+€4,154
Equity
€349,682
2025 · €357,209-€7,527
Cash
€9,093
2025 · €8,812+€281
Balance sheet total
€1.1m
2025 · €1.2m-€104,027
Largest movements
Assets
- Tangible fixed assets -€105,703
down €105,703 (-9.2%), from €1.1m to €1.0m
of which Land and buildings: -€105,340
Equity and liabilities
- Debts after one year -€96,603
down €96,603 (-16.1%), from €598,484 to €501,881
Income statement
- Gross operating margin +€17,771
up €17,771 (+14.9%), from €119,233 to €137,004
- Financial charges +€10,056
up €10,056 (+86.7%), from €11,604 to €21,660
- Provisions +€4,252
up €4,252, from -€4,252 to €0
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
-€11,681
Gross operating margin
+€17,771
Depreciation
+€1,226
Provisions
-€4,252
Other operating charges
-€518
Financial income
-€16
Financial charges
-€10,056
Result 2026
-€7,527
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€107,377
Investment
€0
Financing
-€107,096
Cash 2025
€8,812
From operations (derived)
+€107,377
Net result for the year
-€7,527
Depreciation
+€105,703
Receivables within one year
+€705
Deferred charges and accrued income
-€2,100
Trade debts
+€2,335
Tax, wage and social debts
-€194
Other debts
+€5,813
Accrued charges and deferred income
+€2,643
Financing
-€107,096
Debts after one year
-€96,603
Current portion of long-term debt
-€10,492
Cash 2026
€9,093
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,193,580 | €1,089,553 | -€104,027 | -8.7% |
| Fixed assets | 21/28 | €1,149,901 | €1,044,199 | -€105,703 | -9.2% |
| Tangible fixed assets | 22/27 | €1,149,651 | €1,043,949 | -€105,703 | -9.2% |
| Land and buildings | 22 | €1,149,289 | €1,043,949 | -€105,340 | -9.2% |
| Plant, machinery and equipment | 23 | €362 | €0 | -€362 | -100% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €43,679 | €45,355 | +€1,676 | +3.8% |
| Stocks and contracts in progress | 3 | €30,643 | €30,643 | = | 0.0% |
| Stocks | 30/36 | €30,643 | €30,643 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €705 | €0 | -€705 | -100% |
| Trade receivables | 40 | €705 | €0 | -€705 | -100% |
| Cash at bank and in hand | 54/58 | €8,812 | €9,093 | +€281 | +3.2% |
| Deferred charges and accrued income | 490/1 | €3,518 | €5,618 | +€2,100 | +59.7% |
| Total equity and liabilities | 10/49 | €1,193,580 | €1,089,553 | -€104,027 | -8.7% |
| Equity | 10/15 | €357,209 | €349,682 | -€7,527 | -2.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Uncalled capital | 101 | €13,500 | €13,500 | = | 0.0% |
| Reserves | 13 | €7,500 | €7,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €288,209 | €280,682 | -€7,527 | -2.6% |
| Provisions and deferred taxes | 16 | €2,133 | €2,133 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €2,133 | €2,133 | = | 0.0% |
| Major repairs and maintenance | 162 | €2,133 | €2,133 | = | 0.0% |
| Amounts payable | 17/49 | €834,238 | €737,738 | -€96,500 | -11.6% |
| Amounts payable after more than one year | 17 | €598,484 | €501,881 | -€96,603 | -16.1% |
| Financial debts | 170/4 | €598,484 | €501,881 | -€96,603 | -16.1% |
| Amounts payable within one year | 42/48 | €231,201 | €228,662 | -€2,539 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €108,594 | €98,101 | -€10,492 | -9.7% |
| Trade debts | 44 | €704 | €3,038 | +€2,335 | +332% |
| Suppliers | 440/4 | €704 | €3,038 | +€2,335 | +332% |
| Taxes, remuneration and social security | 45 | €2,375 | €2,181 | -€194 | -8.2% |
| Taxes | 450/3 | €2,375 | €2,181 | -€194 | -8.2% |
| Other amounts payable | 47/48 | €119,528 | €125,341 | +€5,813 | +4.9% |
| Accrued charges and deferred income | 492/3 | €4,553 | €7,196 | +€2,643 | +58.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,928 | €105,703 | -€1,226 | -1.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€4,252 | €0 | +€4,252 | |
| Other operating charges | 640/8 | €16,650 | €17,169 | +€518 | +3.1% |
| Gross operating margin | 9900 | €119,233 | €137,004 | +€17,771 | +14.9% |
| Operating profit (loss) | 9901 | -€93 | €14,133 | +€14,226 | |
| Financial income | 75/76B | €16 | €0 | -€16 | -100% |
| Recurring financial income | 75 | €16 | €0 | -€16 | -100% |
| Financial charges | 65/66B | €11,604 | €21,660 | +€10,056 | +86.7% |
| Recurring financial charges | 65 | €11,604 | €21,660 | +€10,056 | +86.7% |
| Profit (loss) for the period before taxes | 9903 | -€11,681 | -€7,527 | +€4,154 | +35.6% |
| Profit (loss) for the period | 9904 | -€11,681 | -€7,527 | +€4,154 | +35.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,681 | -€7,527 | +€4,154 | +35.6% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.