Build@Sea: what changed
What changed
Build@Sea
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
€7,627
2024 · €24,232-€16,605
Equity
€313,753
2024 · €380,332-€66,578
Cash
€138,904
2024 · €133,840+€5,064
Balance sheet total
€595,621
2024 · €839,324-€243,703
Largest movements
Assets
- Stocks and contracts -€290,560
down €290,560 (-45.3%), from €641,569 to €351,009
- Current investments +€51,824
up €51,824 (+14,112%), from €367 to €52,191
Equity and liabilities
- Other debts -€101,077
down €101,077 (-44.7%), from €226,320 to €125,243
- Reserves -€66,578
down €66,578 (-18.4%), from €361,732 to €295,153
- Trade debts -€45,831
down €45,831 (-33.5%), from €136,752 to €90,922
- Tax, wage and social debts -€30,216
down €30,216 (-31.5%), from €95,919 to €65,703
Income statement
- Gross operating margin -€49,110
down €49,110 (-50.4%), from €97,527 to €48,418
- Financial income +€29,128
up €29,128 (+191%), from €15,233 to €44,361
- Financial charges -€22,224
down €22,224 (-29.7%), from €74,747 to €52,523
- Taxes +€16,662
up €16,662 (+193%), from €8,632 to €25,294
- Depreciation +€4,045
up €4,045 (+218%), from €1,852 to €5,896
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€24,232
Gross operating margin
-€49,110
Depreciation
-€4,045
Other operating charges
+€1,859
Financial income
+€29,128
Financial charges
+€22,224
Taxes
-€16,662
Result 2025
€7,627
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€132,082
Investment
-€52,814
Financing
-€74,205
Cash 2024
€133,840
From operations (derived)
+€132,082
Net result for the year
+€7,627
Depreciation
+€5,896
Stocks and contracts
+€290,560
Receivables within one year
+€6,168
Deferred charges and accrued income
-€1,044
Trade debts
-€45,831
Tax, wage and social debts
-€30,216
Other debts
-€101,077
Investment (derived)
-€52,814
Investment in fixed assets (net)
-€990
Current investments
-€51,824
Financing
-€74,205
Contributions, distributions and other
-€74,205
Cash 2025
€138,904
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €839,324 | €595,621 | -€243,703 | -29.0% |
| Fixed assets | 21/28 | €51,084 | €46,178 | -€4,906 | -9.6% |
| Tangible fixed assets | 22/27 | €26,784 | €21,878 | -€4,906 | -18.3% |
| Furniture and vehicles | 24 | €26,784 | €21,878 | -€4,906 | -18.3% |
| Financial fixed assets | 28 | €24,300 | €24,300 | = | 0.0% |
| Current assets | 29/58 | €788,240 | €549,444 | -€238,796 | -30.3% |
| Stocks and contracts in progress | 3 | €641,569 | €351,009 | -€290,560 | -45.3% |
| Stocks | 30/36 | €641,569 | €351,009 | -€290,560 | -45.3% |
| Amounts receivable within one year | 40/41 | €10,296 | €4,128 | -€6,168 | -59.9% |
| Trade receivables | 40 | €6,232 | €0 | -€6,232 | -100% |
| Other amounts receivable | 41 | €4,064 | €4,128 | +€64 | +1.6% |
| Current investments | 50/53 | €367 | €52,191 | +€51,824 | +14,112% |
| Cash at bank and in hand | 54/58 | €133,840 | €138,904 | +€5,064 | +3.8% |
| Deferred charges and accrued income | 490/1 | €2,167 | €3,211 | +€1,044 | +48.2% |
| Total equity and liabilities | 10/49 | €839,324 | €595,621 | -€243,703 | -29.0% |
| Equity | 10/15 | €380,332 | €313,753 | -€66,578 | -17.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €361,732 | €295,153 | -€66,578 | -18.4% |
| Distributable reserves | 133 | €361,732 | €295,153 | -€66,578 | -18.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €458,992 | €281,868 | -€177,124 | -38.6% |
| Amounts payable within one year | 42/48 | €458,992 | €281,868 | -€177,124 | -38.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €136,752 | €90,922 | -€45,831 | -33.5% |
| Suppliers | 440/4 | €136,752 | €90,922 | -€45,831 | -33.5% |
| Taxes, remuneration and social security | 45 | €95,919 | €65,703 | -€30,216 | -31.5% |
| Taxes | 450/3 | €95,919 | €65,703 | -€30,216 | -31.5% |
| Other amounts payable | 47/48 | €226,320 | €125,243 | -€101,077 | -44.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,852 | €5,896 | +€4,045 | +218% |
| Other operating charges | 640/8 | €3,298 | €1,439 | -€1,859 | -56.4% |
| Gross operating margin | 9900 | €97,527 | €48,418 | -€49,110 | -50.4% |
| Operating profit (loss) | 9901 | €92,378 | €41,082 | -€51,296 | -55.5% |
| Financial income | 75/76B | €15,233 | €44,361 | +€29,128 | +191% |
| Recurring financial income | 75 | €15,233 | €44,361 | +€29,128 | +191% |
| Financial charges | 65/66B | €74,747 | €52,523 | -€22,224 | -29.7% |
| Recurring financial charges | 65 | €74,747 | €52,523 | -€22,224 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | €32,864 | €32,920 | +€56 | +0.2% |
| Income taxes | 67/77 | €8,632 | €25,294 | +€16,662 | +193% |
| Profit (loss) for the period | 9904 | €24,232 | €7,627 | -€16,605 | -68.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,232 | €7,627 | -€16,605 | -68.5% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.