BUILT TO ORDER: 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.
BUILT TO ORDER
Largest movements
- Stocks and contracts +€121,425
up €121,425 (+58.8%), from €206,555 to €327,980
- Intangible fixed assets -€29,101
down €29,101 (-24.7%), from €118,035 to €88,934
- Receivables within one year -€21,707
down €21,707 (-25.3%), from €85,962 to €64,255
of which Trade receivables: -€21,139
- Trade debts +€110,243
up €110,243 (+88.3%), from €124,866 to €235,108
- Profit (loss) carried forward -€41,865
down €41,865 (-92.9%), from -€45,081 to -€86,946
- Depreciation +€5,058
up €5,058 (+19.2%), from €26,409 to €31,467
- Gross operating margin +€1,465
up €1,465 (+42.0%), from -€3,486 to -€2,021
- Other operating charges +€783
up €783 (+37.3%), from €2,100 to €2,883
- Staff costs +€576
up €576 (+94.9%), from €607 to €1,183
- Financial charges -€254
down €254 (-5.6%), from €4,566 to €4,312
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 | €530,614 | €598,162 | +€67,548 | +12.7% |
| Fixed assets | 21/28 | €215,054 | €186,187 | -€28,867 | -13.4% |
| Intangible fixed assets | 21 | €118,035 | €88,934 | -€29,101 | -24.7% |
| Tangible fixed assets | 22/27 | €96,919 | €97,153 | +€234 | +0.2% |
| Other tangible fixed assets | 26 | €96,919 | €97,153 | +€234 | +0.2% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €315,560 | €411,975 | +€96,415 | +30.6% |
| Stocks and contracts in progress | 3 | €206,555 | €327,980 | +€121,425 | +58.8% |
| Stocks | 30/36 | €206,555 | €327,980 | +€121,425 | +58.8% |
| Amounts receivable within one year | 40/41 | €85,962 | €64,255 | -€21,707 | -25.3% |
| Trade receivables | 40 | €47,404 | €26,264 | -€21,139 | -44.6% |
| Other amounts receivable | 41 | €38,558 | €37,990 | -€568 | -1.5% |
| Cash at bank and in hand | 54/58 | €23,010 | €19,740 | -€3,271 | -14.2% |
| Deferred charges and accrued income | 490/1 | €32 | - | -€32 | |
| Total equity and liabilities | 10/49 | €530,614 | €598,162 | +€67,548 | +12.7% |
| Equity | 10/15 | €174,919 | €133,054 | -€41,865 | -23.9% |
| Contributions | 10/11 | €220,000 | €220,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,081 | -€86,946 | -€41,865 | -92.9% |
| Amounts payable | 17/49 | €355,695 | €465,108 | +€109,413 | +30.8% |
| Amounts payable after more than one year | 17 | €230,000 | €230,000 | = | 0.0% |
| Financial debts | 170/4 | €230,000 | €230,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €125,695 | €235,108 | +€109,413 | +87.0% |
| Trade debts | 44 | €124,866 | €235,108 | +€110,243 | +88.3% |
| Suppliers | 440/4 | €124,866 | €235,108 | +€110,243 | +88.3% |
| Taxes, remuneration and social security | 45 | €829 | - | -€829 | |
| Taxes | 450/3 | €829 | - | -€829 | |
| Remuneration, social security and pensions | 62 | €607 | €1,183 | +€576 | +94.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,409 | €31,467 | +€5,058 | +19.2% |
| Other operating charges | 640/8 | €2,100 | €2,883 | +€783 | +37.3% |
| Gross operating margin | 9900 | -€3,486 | -€2,021 | +€1,465 | +42.0% |
| Operating profit (loss) | 9901 | -€32,601 | -€37,553 | -€4,952 | -15.2% |
| Financial income | 75/76B | €2 | €0 | -€2 | -94.1% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -94.1% |
| Financial charges | 65/66B | €4,566 | €4,312 | -€254 | -5.6% |
| Recurring financial charges | 65 | €4,566 | €4,312 | -€254 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | -€37,165 | -€41,865 | -€4,700 | -12.6% |
| Profit (loss) for the period | 9904 | -€37,165 | -€41,865 | -€4,700 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,165 | -€41,865 | -€4,700 | -12.6% |
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 18 October 2026 via checked.be.