BUILD-EX: 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.
BUILD-EX
Largest movements
- Receivables within one year +€195,270
up €195,270 (+55.8%), from €349,685 to €544,955
of which Other amounts receivable: +€178,127
- Tangible fixed assets -€58,560
down €58,560 (-19.6%), from €298,375 to €239,815
of which Assets under construction and advance payments: -€53,229
- Other debts +€124,124
up €124,124 (+95.0%), from €130,696 to €254,820
- Profit (loss) carried forward +€56,924
up €56,924 (+11.2%), from €508,699 to €565,623
- Debts after one year -€55,126
down €55,126 (-33.4%), from €164,956 to €109,830
- Other operating charges -€38,174
down €38,174 (-92.7%), from €41,199 to €3,025
- Gross operating margin +€35,061
up €35,061 (+7.6%), from €459,045 to €494,106
- Taxes -€10,913
down €10,913 (-9.0%), from €121,449 to €110,536
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 | €1,006,491 | €1,144,279 | +€137,788 | +13.7% |
| Fixed assets | 21/28 | €410,375 | €351,815 | -€58,560 | -14.3% |
| Tangible fixed assets | 22/27 | €298,375 | €239,815 | -€58,560 | -19.6% |
| Plant, machinery and equipment | 23 | €22,122 | €16,791 | -€5,331 | -24.1% |
| Other tangible fixed assets | 26 | €10,000 | €10,000 | = | 0.0% |
| Assets under construction and advance payments | 27 | €266,253 | €213,024 | -€53,229 | -20.0% |
| Financial fixed assets | 28 | €112,000 | €112,000 | = | 0.0% |
| Current assets | 29/58 | €596,116 | €792,464 | +€196,348 | +32.9% |
| Amounts receivable within one year | 40/41 | €349,685 | €544,955 | +€195,270 | +55.8% |
| Trade receivables | 40 | €60,685 | €77,828 | +€17,144 | +28.3% |
| Other amounts receivable | 41 | €289,000 | €467,127 | +€178,127 | +61.6% |
| Current investments | 50/53 | €217,218 | €217,221 | +€4 | 0.0% |
| Cash at bank and in hand | 54/58 | €27,483 | €28,471 | +€988 | +3.6% |
| Deferred charges and accrued income | 490/1 | €1,731 | €1,817 | +€85 | +4.9% |
| Total equity and liabilities | 10/49 | €1,006,491 | €1,144,279 | +€137,788 | +13.7% |
| Equity | 10/15 | €516,759 | €573,683 | +€56,924 | +11.0% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €508,699 | €565,623 | +€56,924 | +11.2% |
| Amounts payable | 17/49 | €489,733 | €570,596 | +€80,864 | +16.5% |
| Amounts payable after more than one year | 17 | €164,956 | €109,830 | -€55,126 | -33.4% |
| Financial debts | 170/4 | €164,956 | €109,830 | -€55,126 | -33.4% |
| Amounts payable within one year | 42/48 | €324,777 | €460,766 | +€135,990 | +41.9% |
| Current portion of amounts payable after more than one year | 42 | €51,030 | €54,180 | +€3,150 | +6.2% |
| Trade debts | 44 | €13,454 | €19,919 | +€6,466 | +48.1% |
| Suppliers | 440/4 | €13,454 | €19,919 | +€6,466 | +48.1% |
| Taxes, remuneration and social security | 45 | €129,596 | €131,847 | +€2,251 | +1.7% |
| Taxes | 450/3 | €129,596 | €131,847 | +€2,251 | +1.7% |
| Other amounts payable | 47/48 | €130,696 | €254,820 | +€124,124 | +95.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,482 | €60,563 | +€1,081 | +1.8% |
| Other operating charges | 640/8 | €41,199 | €3,025 | -€38,174 | -92.7% |
| Gross operating margin | 9900 | €459,045 | €494,106 | +€35,061 | +7.6% |
| Operating profit (loss) | 9901 | €358,364 | €430,519 | +€72,155 | +20.1% |
| Financial income | 75/76B | €0 | €4,000 | +€4,000 | +6,666,183% |
| Recurring financial income | 75 | €0 | €4,000 | +€4,000 | +6,666,183% |
| Financial charges | 65/66B | €11,113 | €12,239 | +€1,125 | +10.1% |
| Recurring financial charges | 65 | €11,113 | €12,239 | +€1,125 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €347,251 | €422,280 | +€75,029 | +21.6% |
| Income taxes | 67/77 | €121,449 | €110,536 | -€10,913 | -9.0% |
| Profit (loss) for the period | 9904 | €225,802 | €311,744 | +€85,942 | +38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €225,802 | €311,744 | +€85,942 | +38.1% |
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 26 October 2026 via checked.be.