BUILDUP: 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.
BUILDUP
Largest movements
- Receivables within one year +€84,284
up €84,284 (+24.7%), from €341,605 to €425,888
of which Trade receivables: +€56,393
- Stocks and contracts +€39,000
new in 2025: €39,000
- Tangible fixed assets -€23,608
down €23,608 (-4.0%), from €595,505 to €571,898
of which Land and buildings: -€24,029
- Cash +€14,313
up €14,313 (+97.4%), from €14,688 to €29,001
mainly Trade debts (+€87,166) and Depreciation (+€30,413)
- Trade debts +€87,166
up €87,166 (+460.0%), from €18,949 to €106,116
- Tax, wage and social debts +€28,597
up €28,597 (+251.3%), from €11,379 to €39,977
- Debts after one year -€14,363
down €14,363 (-66.4%), from €21,639 to €7,276
- Gross operating margin +€46,810
up €46,810 (+124.9%), from €37,486 to €84,296
- Taxes +€15,303
up €15,303 (+482.6%), from €3,171 to €18,474
- Depreciation +€1,684
up €1,684 (+5.9%), from €28,730 to €30,413
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 | €1,215,174 | €1,329,126 | +€113,953 | +9.4% |
| Fixed assets | 21/28 | €858,505 | €834,898 | -€23,608 | -2.7% |
| Tangible fixed assets | 22/27 | €595,505 | €571,898 | -€23,608 | -4.0% |
| Land and buildings | 22 | €590,049 | €566,020 | -€24,029 | -4.1% |
| Plant, machinery and equipment | 23 | €398 | €800 | +€401 | +100.7% |
| Furniture and vehicles | 24 | €5,058 | €5,079 | +€20 | +0.4% |
| Financial fixed assets | 28 | €263,000 | €263,000 | = | 0.0% |
| Current assets | 29/58 | €356,668 | €494,228 | +€137,560 | +38.6% |
| Stocks and contracts in progress | 3 | - | €39,000 | +€39,000 | |
| Contracts in progress | 37 | - | €39,000 | +€39,000 | |
| Amounts receivable within one year | 40/41 | €341,605 | €425,888 | +€84,284 | +24.7% |
| Trade receivables | 40 | €22,859 | €79,252 | +€56,393 | +246.7% |
| Other amounts receivable | 41 | €318,745 | €346,636 | +€27,891 | +8.8% |
| Cash at bank and in hand | 54/58 | €14,688 | €29,001 | +€14,313 | +97.4% |
| Deferred charges and accrued income | 490/1 | €375 | €339 | -€36 | -9.6% |
| Total equity and liabilities | 10/49 | €1,215,174 | €1,329,126 | +€113,953 | +9.4% |
| Equity | 10/15 | €1,109,309 | €1,117,801 | +€8,492 | +0.8% |
| Contributions | 10/11 | €22,909 | €22,909 | = | 0.0% |
| Reserves | 13 | €1,083,581 | €1,092,073 | +€8,492 | +0.8% |
| Tax-exempt reserves | 132 | €94,519 | €88,100 | -€6,419 | -6.8% |
| Distributable reserves | 133 | €989,062 | €1,003,973 | +€14,911 | +1.5% |
| Profit (loss) carried forward | 14 | €2,819 | €2,819 | = | 0.0% |
| Provisions and deferred taxes | 16 | €24,234 | €22,094 | -€2,140 | -8.8% |
| Deferred taxes | 168 | €24,234 | €22,094 | -€2,140 | -8.8% |
| Amounts payable | 17/49 | €81,630 | €189,231 | +€107,601 | +131.8% |
| Amounts payable after more than one year | 17 | €21,639 | €7,276 | -€14,363 | -66.4% |
| Financial debts | 170/4 | €21,639 | €7,276 | -€14,363 | -66.4% |
| Amounts payable within one year | 42/48 | €59,991 | €181,956 | +€121,964 | +203.3% |
| Current portion of amounts payable after more than one year | 42 | €14,117 | €14,363 | +€246 | +1.7% |
| Trade debts | 44 | €18,949 | €106,116 | +€87,166 | +460.0% |
| Suppliers | 440/4 | €18,949 | €106,116 | +€87,166 | +460.0% |
| Taxes, remuneration and social security | 45 | €11,379 | €39,977 | +€28,597 | +251.3% |
| Taxes | 450/3 | €11,379 | €39,977 | +€28,597 | +251.3% |
| Other amounts payable | 47/48 | €15,546 | €21,500 | +€5,955 | +38.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,730 | €30,413 | +€1,684 | +5.9% |
| Other operating charges | 640/8 | €6,814 | €6,851 | +€37 | +0.5% |
| Gross operating margin | 9900 | €37,486 | €84,296 | +€46,810 | +124.9% |
| Operating profit (loss) | 9901 | €1,942 | €47,032 | +€45,089 | +2321.2% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100.0% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100.0% |
| Financial charges | 65/66B | €834 | €706 | -€129 | -15.4% |
| Recurring financial charges | 65 | €834 | €706 | -€129 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €1,111 | €46,326 | +€45,214 | +4068.1% |
| Transfer from deferred taxes | 780 | €2,140 | €2,140 | = | 0.0% |
| Income taxes | 67/77 | €3,171 | €18,474 | +€15,303 | +482.6% |
| Profit (loss) for the period | 9904 | €80 | €29,992 | +€29,911 | +37240.2% |
| Transfer from tax-exempt reserves | 789 | €6,419 | €6,419 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,499 | €36,411 | +€29,911 | +460.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.