BUILD 4 U: 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
BUILD 4 U
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€451,880
2024 · €1.8m-€2.3m
Equity
€70.0m
2024 · €60.8m+€9.2m
Cash
€23,388
2024 · €3,374+€20,013
Balance sheet total
€85.3m
2024 · €75.6m+€9.6m
Largest movements
Assets
- Financial fixed assets +€7.9m
up €7.9m (+27.7%), from €28.7m to €36.6m
- Tangible fixed assets +€2.0m
up €2.0m (+4.5%), from €44.9m to €46.9m
of which Land and buildings: +€2.0m
Equity and liabilities
- Revaluation surpluses +€8.5m
up €8.5m (+14.8%), from €57.6m to €66.1m
- Other debts +€1.1m
up €1.1m (+50.1%), from €2.1m to €3.2m
Income statement
- Gross operating margin -€1.2m
down €1.2m (-35.6%), from €3.5m to €2.2m
- Financial income -€1.0m
down €1.0m (-97.3%), from €1.0m to €28,384
of which Non-recurring financial income: -€1.0m
- Depreciation +€368,616
up €368,616 (+22.3%), from €1.7m to €2.0m
- Taxes -€197,773
down €197,773 (-38.8%), from €510,236 to €312,462
- Financial charges -€105,366
down €105,366 (-19.9%), from €528,164 to €422,798
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
€1.8m
Gross operating margin
-€1.2m
Depreciation
-€368,616
Write-downs
+€11,190
Other operating charges
+€18,822
Financial income
-€1.0m
Financial charges
+€105,366
Taxes
+€197,773
Deferred taxes and other
+€10,425
Result 2025
-€451,880
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.
From operations
+€2.8m
Investment
-€11.9m
Financing
+€9.2m
Cash 2024
€3,374
From operations (derived)
+€2.8m
Net result for the year
-€451,880
Depreciation
+€2.0m
Receivables after one year
+€130,000
Receivables within one year
+€116,921
Deferred charges and accrued income
+€59,986
Provisions
-€76,579
Trade debts
+€35,423
Tax, wage and social debts
+€25,266
Other debts
+€1.1m
Accrued charges and deferred income
-€165,370
Investment (derived)
-€11.9m
Investment in fixed assets (net)
-€11.9m
Financing
+€9.2m
Debts after one year
-€414,559
Current portion of long-term debt
-€384,350
Short-term financial debts
+€369,568
Contributions, distributions and other
+€9.6m
Cash 2025
€23,388
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €75,643,950 | €85,259,325 | +€9.6m | +12.7% |
| Fixed assets | 21/28 | €73,997,766 | €83,900,034 | +€9.9m | +13.4% |
| Intangible fixed assets | 21 | €406,898 | €364,084 | -€42,814 | -10.5% |
| Tangible fixed assets | 22/27 | €44,915,117 | €46,927,731 | +€2.0m | +4.5% |
| Land and buildings | 22 | €44,699,834 | €46,661,464 | +€2.0m | +4.4% |
| Furniture and vehicles | 24 | €171,324 | €218,062 | +€46,738 | +27.3% |
| Other tangible fixed assets | 26 | €43,958 | €48,205 | +€4,247 | +9.7% |
| Financial fixed assets | 28 | €28,675,751 | €36,608,218 | +€7.9m | +27.7% |
| Current assets | 29/58 | €1,646,184 | €1,359,291 | -€286,893 | -17.4% |
| Amounts receivable after more than one year | 29 | €350,000 | €220,000 | -€130,000 | -37.1% |
| Other amounts receivable | 291 | €350,000 | €220,000 | -€130,000 | -37.1% |
| Amounts receivable within one year | 40/41 | €1,130,966 | €1,014,045 | -€116,921 | -10.3% |
| Trade receivables | 40 | €221,636 | €181,307 | -€40,330 | -18.2% |
| Other amounts receivable | 41 | €909,329 | €832,738 | -€76,591 | -8.4% |
| Current investments | 50/53 | €98,322 | €98,322 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,374 | €23,388 | +€20,013 | +593.1% |
| Deferred charges and accrued income | 490/1 | €63,522 | €3,536 | -€59,986 | -94.4% |
| Total equity and liabilities | 10/49 | €75,643,950 | €85,259,325 | +€9.6m | +12.7% |
| Equity | 10/15 | €60,842,383 | €70,007,631 | +€9.2m | +15.1% |
| Contributions | 10/11 | €187,000 | €187,000 | = | 0.0% |
| Capital | 10 | €187,000 | €187,000 | = | 0.0% |
| Issued capital | 100 | €187,000 | €187,000 | = | 0.0% |
| Revaluation surpluses | 12 | €57,587,208 | €66,095,815 | +€8.5m | +14.8% |
| Reserves | 13 | €3,068,175 | €3,724,816 | +€656,641 | +21.4% |
| Non-distributable reserves | 130/1 | €18,700 | €18,700 | = | 0.0% |
| Legal reserve | 130 | €18,700 | €18,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,254,852 | €1,963,156 | -€291,697 | -12.9% |
| Distributable reserves | 133 | €794,623 | €1,742,960 | +€948,338 | +119.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €676,549 | €599,970 | -€76,579 | -11.3% |
| Deferred taxes | 168 | €676,549 | €599,970 | -€76,579 | -11.3% |
| Amounts payable | 17/49 | €14,125,018 | €14,651,724 | +€526,706 | +3.7% |
| Amounts payable after more than one year | 17 | €4,758,377 | €4,343,818 | -€414,559 | -8.7% |
| Financial debts | 170/4 | €4,758,377 | €4,343,818 | -€414,559 | -8.7% |
| Amounts payable within one year | 42/48 | €9,050,202 | €10,156,837 | +€1.1m | +12.2% |
| Current portion of amounts payable after more than one year | 42 | €951,652 | €567,303 | -€384,350 | -40.4% |
| Financial debts | 43 | €5,831,384 | €6,200,952 | +€369,568 | +6.3% |
| Credit institutions | 430/8 | €5,831,384 | €6,200,952 | +€369,568 | +6.3% |
| Trade debts | 44 | €17,742 | €53,165 | +€35,423 | +199.7% |
| Suppliers | 440/4 | €17,742 | €53,165 | +€35,423 | +199.7% |
| Taxes, remuneration and social security | 45 | €132,956 | €158,222 | +€25,266 | +19.0% |
| Taxes | 450/3 | €132,956 | €158,222 | +€25,266 | +19.0% |
| Other amounts payable | 47/48 | €2,116,468 | €3,177,195 | +€1.1m | +50.1% |
| Accrued charges and deferred income | 492/3 | €316,439 | €151,069 | -€165,370 | -52.3% |
| Non-recurring operating income | 76A | €834,931 | €0 | -€834,931 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,650,235 | €2,018,851 | +€368,616 | +22.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,595 | -€5,595 | -€11,190 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €58,394 | €39,572 | -€18,822 | -32.2% |
| Gross operating margin | 9900 | €3,464,957 | €2,231,205 | -€1.2m | -35.6% |
| Operating profit (loss) | 9901 | €1,750,732 | €178,376 | -€1.6m | -89.8% |
| Financial income | 75/76B | €1,048,792 | €28,384 | -€1.0m | -97.3% |
| Recurring financial income | 75 | €18,987 | €28,384 | +€9,398 | +49.5% |
| Non-recurring financial income | 76B | €1,029,806 | €0 | -€1.0m | -100.0% |
| Financial charges | 65/66B | €528,164 | €422,798 | -€105,366 | -19.9% |
| Recurring financial charges | 65 | €528,164 | €422,798 | -€105,366 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €2,271,361 | -€216,038 | -€2.5m | |
| Transfer from deferred taxes | 780 | €182,715 | €76,620 | -€106,095 | -58.1% |
| Transfer to deferred taxes | 680 | €116,520 | €0 | -€116,520 | -100.0% |
| Income taxes | 67/77 | €510,236 | €312,462 | -€197,773 | -38.8% |
| Profit (loss) for the period | 9904 | €1,827,320 | -€451,880 | -€2.3m | |
| Transfer from tax-exempt reserves | 789 | €401,275 | €291,655 | -€109,620 | -27.3% |
| Transfer to tax-exempt reserves | 689 | €1,044,209 | €0 | -€1.0m | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,184,386 | -€160,225 | -€1.3m |
Source: filed annual accounts (NBB), fiscal years ended 29 June 2024 and 29 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.