BCA - INVEST: 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.
What changed
BCA - INVEST
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€18,836
2024 · €7,505+€11,330
Equity
€344,790
2024 · €325,955+€18,836
Cash
€139
2024 · €65+€74
Balance sheet total
€1.4m
2024 · €1.5m-€67,152
Largest movements
Assets
- Tangible fixed assets -€65,996
down €65,996 (-5.0%), from €1.3m to €1.3m
of which Other tangible fixed assets: -€46,164
Equity and liabilities
- Debts after one year -€144,465
down €144,465 (-40.0%), from €361,346 to €216,881
- Other debts +€97,905
up €97,905 (+20.1%), from €488,093 to €585,998
- Profit (loss) carried forward +€30,352
up €30,352 (+35.5%), from €85,606 to €115,958
- Trade debts -€28,712
down €28,712 (-51.8%), from €55,461 to €26,748
Income statement
- Gross operating margin +€14,163
up €14,163 (+11.7%), from €120,833 to €134,996
- Taxes +€4,196
up €4,196 (+58.5%), from €7,168 to €11,364
- Financial charges -€1,771
down €1,771 (-5.7%), from €31,011 to €29,240
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.
Result 2024
€7,505
Gross operating margin
+€14,163
Other operating charges
-€408
Financial income
+€0
Financial charges
+€1,771
Taxes
-€4,196
Result 2025
€18,836
raises the resultlowers the result
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.
From operations
+€159,083
Investment
€0
Financing
-€159,009
Cash 2024
€65
From operations (derived)
+€159,083
Net result for the year
+€18,836
Depreciation
+€65,996
Receivables within one year
+€1,230
Provisions
-€3,839
Trade debts
-€28,712
Tax, wage and social debts
+€4,267
Other debts
+€97,905
Accrued charges and deferred income
+€3,401
Financing
-€159,009
Debts after one year
-€144,465
Current portion of long-term debt
-€9,825
Short-term financial debts
-€4,720
Cash 2025
€139
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,502,345 | €1,435,193 | -€67,152 | -4.5% |
| Fixed assets | 21/28 | €1,484,068 | €1,418,073 | -€65,996 | -4.4% |
| Tangible fixed assets | 22/27 | €1,323,118 | €1,257,122 | -€65,996 | -5.0% |
| Land and buildings | 22 | €447,969 | €430,637 | -€17,332 | -3.9% |
| Plant, machinery and equipment | 23 | €25,000 | €22,500 | -€2,500 | -10.0% |
| Other tangible fixed assets | 26 | €850,148 | €803,985 | -€46,164 | -5.4% |
| Financial fixed assets | 28 | €160,951 | €160,951 | = | 0.0% |
| Current assets | 29/58 | €18,276 | €17,120 | -€1,156 | -6.3% |
| Amounts receivable within one year | 40/41 | €18,211 | €16,981 | -€1,230 | -6.8% |
| Trade receivables | 40 | €18,211 | €16,981 | -€1,230 | -6.8% |
| Cash at bank and in hand | 54/58 | €65 | €139 | +€74 | +114% |
| Total equity and liabilities | 10/49 | €1,502,345 | €1,435,193 | -€67,152 | -4.5% |
| Equity | 10/15 | €325,955 | €344,790 | +€18,836 | +5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €221,749 | €210,233 | -€11,516 | -5.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €219,889 | €208,373 | -€11,516 | -5.2% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,606 | €115,958 | +€30,352 | +35.5% |
| Provisions and deferred taxes | 16 | €73,296 | €69,457 | -€3,839 | -5.2% |
| Deferred taxes | 168 | €73,296 | €69,457 | -€3,839 | -5.2% |
| Amounts payable | 17/49 | €1,103,094 | €1,020,945 | -€82,149 | -7.4% |
| Amounts payable after more than one year | 17 | €361,346 | €216,881 | -€144,465 | -40.0% |
| Financial debts | 170/4 | €361,346 | €216,881 | -€144,465 | -40.0% |
| Amounts payable within one year | 42/48 | €718,311 | €777,226 | +€58,915 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | €156,120 | €146,295 | -€9,825 | -6.3% |
| Financial debts | 43 | €7,122 | €2,402 | -€4,720 | -66.3% |
| Credit institutions | 430/8 | €7,122 | €2,402 | -€4,720 | -66.3% |
| Trade debts | 44 | €55,461 | €26,748 | -€28,712 | -51.8% |
| Suppliers | 440/4 | €55,461 | €26,748 | -€28,712 | -51.8% |
| Taxes, remuneration and social security | 45 | €11,515 | €15,782 | +€4,267 | +37.1% |
| Taxes | 450/3 | €11,515 | €15,782 | +€4,267 | +37.1% |
| Other amounts payable | 47/48 | €488,093 | €585,998 | +€97,905 | +20.1% |
| Accrued charges and deferred income | 492/3 | €23,437 | €26,838 | +€3,401 | +14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,996 | €65,996 | = | 0.0% |
| Other operating charges | 640/8 | €12,992 | €13,400 | +€408 | +3.1% |
| Gross operating margin | 9900 | €120,833 | €134,996 | +€14,163 | +11.7% |
| Operating profit (loss) | 9901 | €41,845 | €55,601 | +€13,755 | +32.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €31,011 | €29,240 | -€1,771 | -5.7% |
| Recurring financial charges | 65 | €31,011 | €29,240 | -€1,771 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €10,835 | €26,361 | +€15,527 | +143% |
| Transfer from deferred taxes | 780 | €3,839 | €3,839 | = | 0.0% |
| Income taxes | 67/77 | €7,168 | €11,364 | +€4,196 | +58.5% |
| Profit (loss) for the period | 9904 | €7,505 | €18,836 | +€11,330 | +151% |
| Transfer from tax-exempt reserves | 789 | €11,516 | €11,516 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,022 | €30,352 | +€11,330 | +59.6% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.