DEMO-CONSTRUCTION: 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.
DEMO-CONSTRUCTION
Largest movements
- Receivables within one year +€471,436
up €471,436 (+81.5%), from €578,547 to €1.0m
of which Trade receivables: +€477,249
- Trade debts +€442,865
up €442,865 (+157%), from €282,733 to €725,598
- Gross operating margin +€2,997
up €2,997 (+121%), from €2,487 to €5,484
- Taxes +€980
up €980 (+629%), from €156 to €1,136
- Other operating charges -€974
down €974 (-94.1%), from €1,035 to €61
- Depreciation -€839
no longer reported in 2025 (was €839)
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 | €595,454 | €1,060,189 | +€464,735 | +78.0% |
| Fixed assets | 21/28 | €1,098 | €50 | -€1,048 | -95.4% |
| Tangible fixed assets | 22/27 | €1,048 | - | -€1,048 | |
| Furniture and vehicles | 24 | €1,048 | - | -€1,048 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €594,356 | €1,060,139 | +€465,783 | +78.4% |
| Amounts receivable within one year | 40/41 | €578,547 | €1,049,983 | +€471,436 | +81.5% |
| Trade receivables | 40 | €468,723 | €945,971 | +€477,249 | +102% |
| Other amounts receivable | 41 | €109,824 | €104,012 | -€5,813 | -5.3% |
| Cash at bank and in hand | 54/58 | €13,441 | €10,156 | -€3,285 | -24.4% |
| Deferred charges and accrued income | 490/1 | €2,368 | - | -€2,368 | |
| Total equity and liabilities | 10/49 | €595,454 | €1,060,189 | +€464,735 | +78.0% |
| Equity | 10/15 | €65,983 | €70,168 | +€4,186 | +6.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,923 | €62,108 | +€4,186 | +7.2% |
| Amounts payable | 17/49 | €529,471 | €990,021 | +€460,549 | +87.0% |
| Amounts payable within one year | 42/48 | €528,320 | €983,757 | +€455,437 | +86.2% |
| Trade debts | 44 | €282,733 | €725,598 | +€442,865 | +157% |
| Suppliers | 440/4 | €282,733 | €725,598 | +€442,865 | +157% |
| Taxes, remuneration and social security | 45 | €9,165 | €15,540 | +€6,375 | +69.6% |
| Taxes | 450/3 | €9,165 | €1,933 | -€7,232 | -78.9% |
| Remuneration and social security | 454/9 | - | €13,607 | +€13,607 | |
| Other amounts payable | 47/48 | €236,422 | €242,619 | +€6,197 | +2.6% |
| Accrued charges and deferred income | 492/3 | €1,151 | €6,263 | +€5,112 | +444% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €839 | - | -€839 | |
| Other operating charges | 640/8 | €1,035 | €61 | -€974 | -94.1% |
| Gross operating margin | 9900 | €2,487 | €5,484 | +€2,997 | +121% |
| Operating profit (loss) | 9901 | €613 | €5,423 | +€4,810 | +785% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €84 | €104 | +€20 | +23.2% |
| Recurring financial charges | 65 | €84 | €104 | +€20 | +23.2% |
| Profit (loss) for the period before taxes | 9903 | €529 | €5,322 | +€4,793 | +907% |
| Income taxes | 67/77 | €156 | €1,136 | +€980 | +629% |
| Profit (loss) for the period | 9904 | €373 | €4,186 | +€3,813 | +1,023% |
| Profit (loss) for the period to be appropriated | 9905 | €373 | €4,186 | +€3,813 | +1,023% |
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 19 October 2026 via checked.be.