DRAFT: 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.
What changed
DRAFT
NACE 41.001, General construction of residential buildings
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€187,038
2023 · -€111,088-€75,951
Equity
€1.9m
2023 · €2.1m-€187,038
Cash
€4,814
2023 · €29,778-€24,964
Balance sheet total
€6.7m
2023 · €6.2m+€507,222
Largest movements
Assets
- Tangible fixed assets +€349,753
up €349,753 (+6.1%), from €5.8m to €6.1m
of which Land and buildings: +€353,203
- Receivables within one year +€173,578
up €173,578 (+40.5%), from €428,970 to €602,548
of which Other amounts receivable: +€173,630
Equity and liabilities
- Other debts +€368,226
up €368,226 (+33.3%), from €1.1m to €1.5m
- Debts after one year +€291,023
up €291,023 (+10.6%), from €2.7m to €3.0m
of which Financial debts: +€287,843
- Profit (loss) carried forward -€172,267
down €172,267 (-26.5%), from -€649,639 to -€821,906
Income statement
- Depreciation +€50,192
up €50,192 (+19.7%), from €254,890 to €305,082
- Financial charges +€35,459
up €35,459 (+46.2%), from €76,783 to €112,242
- Gross operating margin +€15,991
up €15,991 (+6.3%), from €253,738 to €269,729
From the 2023 result to the 2024 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.
Result 2023
-€111,088
Gross operating margin
+€15,991
Depreciation
-€50,192
Other operating charges
-€2,362
Other operating items
-€4,320
Financial income
+€392
Financial charges
-€35,459
Result 2024
-€187,038
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€308,035
Investment
-€656,915
Financing
+€323,915
Cash 2023
€29,778
From operations (derived)
+€308,035
Net result for the year
-€187,038
Depreciation
+€305,082
Receivables within one year
-€173,578
Deferred charges and accrued income
-€6,775
Provisions
-€4,924
Trade debts
-€9,453
Tax, wage and social debts
-€872
Other debts
+€368,226
Accrued charges and deferred income
+€17,368
Investment (derived)
-€656,915
Investment in fixed assets (net)
-€656,915
Financing
+€323,915
Debts after one year
+€291,023
Current portion of long-term debt
+€32,892
Cash 2024
€4,814
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,228,995 | €6,736,217 | +€507,222 | +8.1% |
| Fixed assets | 21/28 | €5,761,025 | €6,112,858 | +€351,833 | +6.1% |
| Tangible fixed assets | 22/27 | €5,757,254 | €6,107,007 | +€349,753 | +6.1% |
| Land and buildings | 22 | €5,752,181 | €6,105,384 | +€353,203 | +6.1% |
| Furniture and vehicles | 24 | €5,073 | €1,623 | -€3,450 | -68.0% |
| Financial fixed assets | 28 | €3,772 | €5,852 | +€2,080 | +55.1% |
| Current assets | 29/58 | €467,970 | €623,359 | +€155,389 | +33.2% |
| Stocks and contracts in progress | 3 | €7,684 | €7,684 | = | 0.0% |
| Stocks | 30/36 | €7,684 | €7,684 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €428,970 | €602,548 | +€173,578 | +40.5% |
| Trade receivables | 40 | €164,471 | €164,418 | -€53 | 0.0% |
| Other amounts receivable | 41 | €264,499 | €438,129 | +€173,630 | +65.6% |
| Cash at bank and in hand | 54/58 | €29,778 | €4,814 | -€24,964 | -83.8% |
| Deferred charges and accrued income | 490/1 | €1,538 | €8,313 | +€6,775 | +440.6% |
| Total equity and liabilities | 10/49 | €6,228,995 | €6,736,217 | +€507,222 | +8.1% |
| Equity | 10/15 | €2,050,552 | €1,863,513 | -€187,038 | -9.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Revaluation surpluses | 12 | €1,775,485 | €1,775,485 | = | 0.0% |
| Reserves | 13 | €862,732 | €847,961 | -€14,771 | -1.7% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €170,171 | €155,400 | -€14,771 | -8.7% |
| Distributable reserves | 133 | €686,363 | €686,363 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€649,639 | -€821,906 | -€172,267 | -26.5% |
| Provisions and deferred taxes | 16 | €95,668 | €90,744 | -€4,924 | -5.1% |
| Deferred taxes | 168 | €95,668 | €90,744 | -€4,924 | -5.1% |
| Amounts payable | 17/49 | €4,082,775 | €4,781,960 | +€699,184 | +17.1% |
| Amounts payable after more than one year | 17 | €2,746,103 | €3,037,126 | +€291,023 | +10.6% |
| Financial debts | 170/4 | €2,737,858 | €3,025,701 | +€287,843 | +10.5% |
| Other amounts payable | 178/9 | €8,245 | €11,425 | +€3,180 | +38.6% |
| Amounts payable within one year | 42/48 | €1,336,673 | €1,727,466 | +€390,793 | +29.2% |
| Current portion of amounts payable after more than one year | 42 | €24,425 | €57,317 | +€32,892 | +134.7% |
| Financial debts | 43 | €45 | €45 | = | 0.0% |
| Other loans | 439 | €45 | €45 | = | 0.0% |
| Trade debts | 44 | €205,611 | €196,158 | -€9,453 | -4.6% |
| Suppliers | 440/4 | €205,611 | €196,158 | -€9,453 | -4.6% |
| Taxes, remuneration and social security | 45 | €872 | - | -€872 | |
| Taxes | 450/3 | €872 | - | -€872 | |
| Other amounts payable | 47/48 | €1,105,720 | €1,473,945 | +€368,226 | +33.3% |
| Accrued charges and deferred income | 492/3 | - | €17,368 | +€17,368 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €254,890 | €305,082 | +€50,192 | +19.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €251 | €251 | = | 0.0% |
| Other operating charges | 640/8 | €37,296 | €39,658 | +€2,362 | +6.3% |
| Non-recurring operating charges | 66A | €530 | €4,850 | +€4,320 | +815.0% |
| Gross operating margin | 9900 | €253,738 | €269,729 | +€15,991 | +6.3% |
| Operating profit (loss) | 9901 | -€39,229 | -€80,112 | -€40,883 | -104.2% |
| Financial income | 75/76B | - | €392 | +€392 | |
| Recurring financial income | 75 | - | €392 | +€392 | |
| Financial charges | 65/66B | €76,783 | €112,242 | +€35,459 | +46.2% |
| Recurring financial charges | 65 | €76,783 | €112,242 | +€35,459 | +46.2% |
| Profit (loss) for the period before taxes | 9903 | -€116,011 | -€191,962 | -€75,951 | -65.5% |
| Transfer from deferred taxes | 780 | €4,924 | €4,924 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€111,088 | -€187,038 | -€75,951 | -68.4% |
| Transfer from tax-exempt reserves | 789 | €14,771 | €14,771 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€96,316 | -€172,267 | -€75,951 | -78.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.