BUILD-UP: 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.
BUILD-UP
Largest movements
- Tangible fixed assets +€144,681
up €144,681 (+12736.0%), from €1,136 to €145,817
of which Land and buildings: +€145,614
- Receivables within one year +€7,684
up €7,684 (+15.0%), from €51,379 to €59,063
of which Other amounts receivable: +€16,583
- Cash +€6,197
up €6,197 (+300.5%), from €2,062 to €8,259
mainly Accrued charges and deferred income (+€80,786) and Debts after one year (+€62,654)
- Accrued charges and deferred income +€80,786
new in 2025: €80,786
- Debts after one year +€62,654
new in 2025: €62,654
- Current portion of long-term debt +€9,335
new in 2025: €9,335
- Trade debts +€3,216
up €3,216 (+6.1%), from €52,590 to €55,806
- Gross operating margin +€4,741
up €4,741 (+245.8%), from €1,929 to €6,670
- Financial charges +€1,945
up €1,945 (+1092.7%), from €178 to €2,123
- Taxes +€956
new in 2025: €956
- Depreciation +€656
up €656 (+70.3%), from €933 to €1,589
- Other operating charges -€133
down €133 (-25.6%), from €520 to €387
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €54,577 | €213,139 | +€158,562 | +290.5% |
| Fixed assets | 21/28 | €1,136 | €145,817 | +€144,681 | +12736.0% |
| Tangible fixed assets | 22/27 | €1,136 | €145,817 | +€144,681 | +12736.0% |
| Land and buildings | 22 | - | €145,614 | +€145,614 | |
| Furniture and vehicles | 24 | €1,136 | €203 | -€933 | -82.1% |
| Current assets | 29/58 | €53,441 | €67,322 | +€13,881 | +26.0% |
| Amounts receivable within one year | 40/41 | €51,379 | €59,063 | +€7,684 | +15.0% |
| Trade receivables | 40 | €51,379 | €42,480 | -€8,899 | -17.3% |
| Other amounts receivable | 41 | - | €16,583 | +€16,583 | |
| Cash at bank and in hand | 54/58 | €2,062 | €8,259 | +€6,197 | +300.5% |
| Total equity and liabilities | 10/49 | €54,577 | €213,139 | +€158,562 | +290.5% |
| Equity | 10/15 | €1,987 | €3,602 | +€1,615 | +81.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13 | €1,602 | +€1,615 | |
| Amounts payable | 17/49 | €52,590 | €209,537 | +€156,947 | +298.4% |
| Amounts payable after more than one year | 17 | - | €62,654 | +€62,654 | |
| Financial debts | 170/4 | - | €62,654 | +€62,654 | |
| Amounts payable within one year | 42/48 | €52,590 | €66,097 | +€13,507 | +25.7% |
| Current portion of amounts payable after more than one year | 42 | - | €9,335 | +€9,335 | |
| Trade debts | 44 | €52,590 | €55,806 | +€3,216 | +6.1% |
| Suppliers | 440/4 | €52,590 | €55,806 | +€3,216 | +6.1% |
| Taxes, remuneration and social security | 45 | - | €956 | +€956 | |
| Remuneration and social security | 454/9 | - | €956 | +€956 | |
| Accrued charges and deferred income | 492/3 | - | €80,786 | +€80,786 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €933 | €1,589 | +€656 | +70.3% |
| Other operating charges | 640/8 | €520 | €387 | -€133 | -25.6% |
| Gross operating margin | 9900 | €1,929 | €6,670 | +€4,741 | +245.8% |
| Operating profit (loss) | 9901 | €476 | €4,694 | +€4,218 | +886.1% |
| Financial charges | 65/66B | €178 | €2,123 | +€1,945 | +1092.7% |
| Recurring financial charges | 65 | €178 | €2,123 | +€1,945 | +1092.7% |
| Profit (loss) for the period before taxes | 9903 | €298 | €2,571 | +€2,273 | +762.8% |
| Income taxes | 67/77 | - | €956 | +€956 | |
| Profit (loss) for the period | 9904 | €298 | €1,615 | +€1,317 | +441.9% |
| Profit (loss) for the period to be appropriated | 9905 | €298 | €1,615 | +€1,317 | +441.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.