CAELS BOUWPROJECTEN: 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.
CAELS BOUWPROJECTEN
Largest movements
- Receivables within one year +€177,969
up €177,969 (+105%), from €169,857 to €347,826
of which Trade receivables: +€154,000
- Tangible fixed assets -€13,157
down €13,157 (-2.5%), from €524,878 to €511,721
- Trade debts +€182,527
up €182,527 (+518%), from €35,218 to €217,744
- Debts after one year -€42,305
down €42,305 (-7.8%), from €539,878 to €497,573
- Tax, wage and social debts +€19,810
up €19,810 (+179%), from €11,062 to €30,873
- Reserves +€14,534
up €14,534 (+99.3%), from €14,631 to €29,165
- Other debts -€9,216
down €9,216 (-22.0%), from €41,903 to €32,687
- Depreciation -€21,785
down €21,785 (-62.0%), from €35,165 to €13,380
- Taxes +€5,761
up €5,761 (+819%), from €703 to €6,464
- Other operating charges +€2,522
up €2,522 (+157%), from €1,610 to €4,132
- Gross operating margin -€1,265
down €1,265 (-2.3%), from €55,240 to €53,975
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 | €696,232 | €861,481 | +€165,249 | +23.7% |
| Formation expenses | 20 | €222 | €0 | -€222 | -100% |
| Fixed assets | 21/28 | €524,878 | €511,721 | -€13,157 | -2.5% |
| Tangible fixed assets | 22/27 | €524,878 | €511,721 | -€13,157 | -2.5% |
| Land and buildings | 22 | €524,878 | €511,721 | -€13,157 | -2.5% |
| Current assets | 29/58 | €171,132 | €349,760 | +€178,629 | +104% |
| Amounts receivable within one year | 40/41 | €169,857 | €347,826 | +€177,969 | +105% |
| Trade receivables | 40 | €54,000 | €208,000 | +€154,000 | +285% |
| Other amounts receivable | 41 | €115,857 | €139,826 | +€23,969 | +20.7% |
| Cash at bank and in hand | 54/58 | €1,274 | €1,934 | +€660 | +51.8% |
| Total equity and liabilities | 10/49 | €696,232 | €861,481 | +€165,249 | +23.7% |
| Equity | 10/15 | €24,631 | €39,165 | +€14,534 | +59.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €14,631 | €29,165 | +€14,534 | +99.3% |
| Distributable reserves | 133 | €14,631 | €29,165 | +€14,534 | +99.3% |
| Amounts payable | 17/49 | €671,601 | €822,317 | +€150,715 | +22.4% |
| Amounts payable after more than one year | 17 | €539,878 | €497,573 | -€42,305 | -7.8% |
| Financial debts | 170/4 | €539,878 | €497,573 | -€42,305 | -7.8% |
| Amounts payable within one year | 42/48 | €131,723 | €324,743 | +€193,020 | +147% |
| Current portion of amounts payable after more than one year | 42 | €43,540 | €43,440 | -€101 | -0.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €35,218 | €217,744 | +€182,527 | +518% |
| Suppliers | 440/4 | €35,218 | €217,744 | +€182,527 | +518% |
| Taxes, remuneration and social security | 45 | €11,062 | €30,873 | +€19,810 | +179% |
| Taxes | 450/3 | €11,062 | €30,873 | +€19,810 | +179% |
| Other amounts payable | 47/48 | €41,903 | €32,687 | -€9,216 | -22.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,165 | €13,380 | -€21,785 | -62.0% |
| Other operating charges | 640/8 | €1,610 | €4,132 | +€2,522 | +157% |
| Gross operating margin | 9900 | €55,240 | €53,975 | -€1,265 | -2.3% |
| Operating profit (loss) | 9901 | €18,464 | €36,463 | +€17,999 | +97.5% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €15,846 | €15,466 | -€381 | -2.4% |
| Recurring financial charges | 65 | €15,846 | €15,466 | -€381 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €2,618 | €20,998 | +€18,380 | +702% |
| Income taxes | 67/77 | €703 | €6,464 | +€5,761 | +819% |
| Profit (loss) for the period | 9904 | €1,915 | €14,534 | +€12,619 | +659% |
| Profit (loss) for the period to be appropriated | 9905 | €1,915 | €14,534 | +€12,619 | +659% |
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 14 October 2026 via checked.be.