BELGIUM 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.
BELGIUM BUILDING
Largest movements
- Tangible fixed assets +€166,032
up €166,032 (+56.0%), from €296,310 to €462,342
of which Furniture and vehicles: +€120,855
- Receivables within one year +€49,213
up €49,213 (+9.1%), from €543,105 to €592,318
of which Trade receivables: +€163,527
- Cash +€40,248
up €40,248 (+25.1%), from €160,522 to €200,770
mainly Trade debts (+€159,599) and Net result for the year (+€146,588)
- Financial fixed assets +€39,150
new in 2025: €39,150
- Deferred charges and accrued income +€13,902
up €13,902 (+1,407%), from €988 to €14,890
- Trade debts +€159,599
up €159,599 (+30.2%), from €528,768 to €688,367
- Reserves +€146,588
up €146,588 (+286%), from €51,222 to €197,811
of which Distributable reserves: +€146,588
- Tax, wage and social debts +€122,002
up €122,002 (+223%), from €54,649 to €176,651
of which Taxes: +€128,453
- Other debts -€117,848
down €117,848 (-77.1%), from €152,792 to €34,945
- Gross operating margin +€209,879
up €209,879 (+81.4%), from €257,819 to €467,698
- Taxes +€46,536
up €46,536 (+145%), from €32,048 to €78,584
- Depreciation +€45,418
up €45,418 (+67.5%), from €67,264 to €112,682
- Other operating charges +€14,250
up €14,250 (+59.8%), from €23,832 to €38,082
- Staff costs +€7,576
up €7,576 (+9.0%), from €83,720 to €91,296
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 | €1,010,781 | €1,321,122 | +€310,341 | +30.7% |
| Fixed assets | 21/28 | €296,310 | €501,492 | +€205,182 | +69.2% |
| Tangible fixed assets | 22/27 | €296,310 | €462,342 | +€166,032 | +56.0% |
| Land and buildings | 22 | €129,464 | €125,541 | -€3,923 | -3.0% |
| Plant, machinery and equipment | 23 | €67,474 | €116,575 | +€49,100 | +72.8% |
| Furniture and vehicles | 24 | €99,372 | €220,227 | +€120,855 | +122% |
| Financial fixed assets | 28 | - | €39,150 | +€39,150 | |
| Current assets | 29/58 | €714,471 | €819,630 | +€105,159 | +14.7% |
| Stocks and contracts in progress | 3 | €9,857 | €11,652 | +€1,796 | +18.2% |
| Stocks | 30/36 | €9,857 | €11,652 | +€1,796 | +18.2% |
| Amounts receivable within one year | 40/41 | €543,105 | €592,318 | +€49,213 | +9.1% |
| Trade receivables | 40 | €256,845 | €420,371 | +€163,527 | +63.7% |
| Other amounts receivable | 41 | €286,261 | €171,947 | -€114,314 | -39.9% |
| Cash at bank and in hand | 54/58 | €160,522 | €200,770 | +€40,248 | +25.1% |
| Deferred charges and accrued income | 490/1 | €988 | €14,890 | +€13,902 | +1,407% |
| Total equity and liabilities | 10/49 | €1,010,781 | €1,321,122 | +€310,341 | +30.7% |
| Equity | 10/15 | €274,572 | €421,160 | +€146,588 | +53.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €51,222 | €197,811 | +€146,588 | +286% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €49,362 | €195,951 | +€146,588 | +297% |
| Profit (loss) carried forward | 14 | €204,750 | €204,750 | = | 0.0% |
| Amounts payable | 17/49 | €736,209 | €899,962 | +€163,753 | +22.2% |
| Amounts payable within one year | 42/48 | €736,209 | €899,962 | +€163,753 | +22.2% |
| Trade debts | 44 | €528,768 | €688,367 | +€159,599 | +30.2% |
| Suppliers | 440/4 | €528,768 | €688,367 | +€159,599 | +30.2% |
| Taxes, remuneration and social security | 45 | €54,649 | €176,651 | +€122,002 | +223% |
| Taxes | 450/3 | €32,274 | €160,727 | +€128,453 | +398% |
| Remuneration and social security | 454/9 | €22,375 | €15,923 | -€6,451 | -28.8% |
| Other amounts payable | 47/48 | €152,792 | €34,945 | -€117,848 | -77.1% |
| Remuneration, social security and pensions | 62 | €83,720 | €91,296 | +€7,576 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,264 | €112,682 | +€45,418 | +67.5% |
| Other operating charges | 640/8 | €23,832 | €38,082 | +€14,250 | +59.8% |
| Gross operating margin | 9900 | €257,819 | €467,698 | +€209,879 | +81.4% |
| Operating profit (loss) | 9901 | €83,002 | €225,637 | +€142,635 | +172% |
| Financial income | 75/76B | €21 | - | -€21 | |
| Recurring financial income | 75 | €21 | - | -€21 | |
| Financial charges | 65/66B | €1,613 | €465 | -€1,148 | -71.2% |
| Recurring financial charges | 65 | €194 | €465 | +€271 | +139% |
| Non-recurring financial charges | 66B | €1,418 | - | -€1,418 | |
| Profit (loss) for the period before taxes | 9903 | €81,410 | €225,172 | +€143,762 | +177% |
| Income taxes | 67/77 | €32,048 | €78,584 | +€46,536 | +145% |
| Profit (loss) for the period | 9904 | €49,362 | €146,588 | +€97,226 | +197% |
| Profit (loss) for the period to be appropriated | 9905 | €49,362 | €146,588 | +€97,226 | +197% |
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 1 November 2026 via checked.be.