Building 4: what changed
Building 4
Largest movements
- Stocks and contracts +€1.2m
up €1.2m (+106%), from €1.1m to €2.3m
- Cash -€56,084
down €56,084 (-38.3%), from €146,262 to €90,178
mainly Stocks and contracts (-€1.2m) and Net result for the year (-€55,366)
- Short-term financial debts +€550,000
up €550,000 (+200%), from €275,000 to €825,000
- Advances received +€460,771
up €460,771 (+89.2%), from €516,545 to €977,317
- Other debts +€79,154
up €79,154 (+19.4%), from €407,675 to €486,829
- Trade debts +€74,479
up €74,479 (+77.1%), from €96,555 to €171,034
- Profit (loss) carried forward -€55,366
down €55,366 (-46.9%), from -€118,034 to -€173,400
- Financial charges -€11,808
down €11,808 (-22.4%), from €52,724 to €40,916
- Financial income +€1,497
up €1,497 (+556%), from €269 to €1,767
- Other operating charges -€836
down €836 (-56.3%), from €1,483 to €648
- Gross operating margin +€594
up €594 (+4.0%), from -€14,868 to -€14,274
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,257,961 | €2,370,867 | +€1.1m | +88.5% |
| Current assets | 29/58 | €1,257,961 | €2,370,867 | +€1.1m | +88.5% |
| Stocks and contracts in progress | 3 | €1,095,329 | €2,261,755 | +€1.2m | +106% |
| Stocks | 30/36 | €1,095,329 | €2,261,755 | +€1.2m | +106% |
| Amounts receivable within one year | 40/41 | €8,986 | €11,937 | +€2,951 | +32.8% |
| Trade receivables | 40 | - | €2,032 | +€2,032 | |
| Other amounts receivable | 41 | €8,986 | €9,905 | +€920 | +10.2% |
| Cash at bank and in hand | 54/58 | €146,262 | €90,178 | -€56,084 | -38.3% |
| Deferred charges and accrued income | 490/1 | €7,384 | €6,997 | -€387 | -5.2% |
| Total equity and liabilities | 10/49 | €1,257,961 | €2,370,867 | +€1.1m | +88.5% |
| Equity | 10/15 | -€42,583 | -€97,948 | -€55,366 | -130% |
| Contributions | 10/11 | €68,592 | €68,592 | = | 0.0% |
| Reserves | 13 | €6,859 | €6,859 | = | 0.0% |
| Distributable reserves | 133 | €6,859 | €6,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€118,034 | -€173,400 | -€55,366 | -46.9% |
| Amounts payable | 17/49 | €1,300,543 | €2,468,816 | +€1.2m | +89.8% |
| Amounts payable within one year | 42/48 | €1,295,776 | €2,462,241 | +€1.2m | +90.0% |
| Financial debts | 43 | €275,000 | €825,000 | +€550,000 | +200% |
| Credit institutions | 430/8 | €275,000 | €825,000 | +€550,000 | +200% |
| Trade debts | 44 | €96,555 | €171,034 | +€74,479 | +77.1% |
| Suppliers | 440/4 | €96,555 | €171,034 | +€74,479 | +77.1% |
| Advances received on contracts in progress | 46 | €516,545 | €977,317 | +€460,771 | +89.2% |
| Taxes, remuneration and social security | 45 | - | €2,062 | +€2,062 | |
| Taxes | 450/3 | - | €2,062 | +€2,062 | |
| Other amounts payable | 47/48 | €407,675 | €486,829 | +€79,154 | +19.4% |
| Accrued charges and deferred income | 492/3 | €4,768 | €6,575 | +€1,807 | +37.9% |
| Non-recurring operating income | 76A | - | €3,782 | +€3,782 | |
| Other operating charges | 640/8 | €1,483 | €648 | -€836 | -56.3% |
| Non-recurring operating charges | 66A | - | €1,295 | +€1,295 | |
| Gross operating margin | 9900 | -€14,868 | -€14,274 | +€594 | +4.0% |
| Operating profit (loss) | 9901 | -€16,351 | -€16,216 | +€135 | +0.8% |
| Financial income | 75/76B | €269 | €1,767 | +€1,497 | +556% |
| Recurring financial income | 75 | €269 | €1,767 | +€1,497 | +556% |
| Financial charges | 65/66B | €52,724 | €40,916 | -€11,808 | -22.4% |
| Recurring financial charges | 65 | €52,724 | €40,916 | -€11,808 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | -€68,805 | -€55,366 | +€13,440 | +19.5% |
| Profit (loss) for the period | 9904 | -€68,805 | -€55,366 | +€13,440 | +19.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€68,805 | -€55,366 | +€13,440 | +19.5% |
Next steps
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 7 November 2026 via checked.be.