BUILD IT: 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 IT
Largest movements
- Stocks and contracts +€23,812
up €23,812 (+108%), from €22,058 to €45,870
- Cash +€18,277
up €18,277 (+129%), from €14,213 to €32,490
mainly Other debts (+€110,722) and Depreciation (+€119)
- Other debts +€110,722
up €110,722 (+84.2%), from €131,461 to €242,183
- Reserves -€60,475
down €60,475 (-15.1%), from €401,619 to €341,144
of which Tax-exempt reserves: -€60,475
- Gross operating margin -€15,419
down €15,419 (-29.7%), from -€51,890 to -€67,309
- Financial income +€2,024
up €2,024 (+16.7%), from €12,099 to €14,123
- Depreciation -€1,080
down €1,080 (-90.1%), from €1,199 to €119
- Financial charges -€954
down €954 (-30.8%), from €3,100 to €2,146
- Other operating charges +€748
up €748 (+140%), from €533 to €1,281
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 | €648,375 | €697,016 | +€48,640 | +7.5% |
| Fixed assets | 21/28 | €2,093 | €3,277 | +€1,184 | +56.6% |
| Tangible fixed assets | 22/27 | €2,017 | €3,201 | +€1,184 | +58.7% |
| Land and buildings | 22 | €2,017 | €2,017 | = | 0.0% |
| Furniture and vehicles | 24 | - | €1,184 | +€1,184 | |
| Financial fixed assets | 28 | €76 | €76 | = | 0.0% |
| Current assets | 29/58 | €646,283 | €693,739 | +€47,456 | +7.3% |
| Amounts receivable after more than one year | 29 | €350,000 | €350,000 | = | 0.0% |
| Other amounts receivable | 291 | €350,000 | €350,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €22,058 | €45,870 | +€23,812 | +108% |
| Stocks | 30/36 | €22,058 | €45,870 | +€23,812 | +108% |
| Amounts receivable within one year | 40/41 | €3,071 | €5,472 | +€2,402 | +78.2% |
| Other amounts receivable | 41 | €3,071 | €5,472 | +€2,402 | +78.2% |
| Current investments | 50/53 | €253,480 | €256,309 | +€2,829 | +1.1% |
| Cash at bank and in hand | 54/58 | €14,213 | €32,490 | +€18,277 | +129% |
| Deferred charges and accrued income | 490/1 | €3,462 | €3,598 | +€136 | +3.9% |
| Total equity and liabilities | 10/49 | €648,375 | €697,016 | +€48,640 | +7.5% |
| Equity | 10/15 | €355,578 | €298,592 | -€56,986 | -16.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €401,619 | €341,144 | -€60,475 | -15.1% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €60,475 | - | -€60,475 | |
| Distributable reserves | 133 | €339,284 | €341,144 | +€1,860 | +0.5% |
| Profit (loss) carried forward | 14 | -€64,642 | -€61,153 | +€3,489 | +5.4% |
| Provisions and deferred taxes | 16 | €156,000 | €156,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €156,000 | €156,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €156,000 | €156,000 | = | 0.0% |
| Amounts payable | 17/49 | €136,798 | €242,424 | +€105,626 | +77.2% |
| Amounts payable within one year | 42/48 | €136,798 | €242,424 | +€105,626 | +77.2% |
| Trade debts | 44 | €5,337 | €241 | -€5,095 | -95.5% |
| Suppliers | 440/4 | €5,337 | €241 | -€5,095 | -95.5% |
| Other amounts payable | 47/48 | €131,461 | €242,183 | +€110,722 | +84.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,199 | €119 | -€1,080 | -90.1% |
| Other operating charges | 640/8 | €533 | €1,281 | +€748 | +140% |
| Gross operating margin | 9900 | -€51,890 | -€67,309 | -€15,419 | -29.7% |
| Operating profit (loss) | 9901 | -€53,622 | -€68,709 | -€15,087 | -28.1% |
| Financial income | 75/76B | €12,099 | €14,123 | +€2,024 | +16.7% |
| Recurring financial income | 75 | €12,099 | €14,123 | +€2,024 | +16.7% |
| Financial charges | 65/66B | €3,100 | €2,146 | -€954 | -30.8% |
| Recurring financial charges | 65 | €3,100 | €2,146 | -€954 | -30.8% |
| Profit (loss) for the period before taxes | 9903 | -€44,622 | -€56,732 | -€12,110 | -27.1% |
| Income taxes | 67/77 | €270 | €253 | -€16 | -6.1% |
| Profit (loss) for the period | 9904 | -€44,892 | -€56,986 | -€12,094 | -26.9% |
| Transfer from tax-exempt reserves | 789 | - | €60,475 | +€60,475 | |
| Profit (loss) for the period to be appropriated | 9905 | -€44,892 | €3,489 | +€48,381 |
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 16 October 2026 via checked.be.