E&C Bouw: 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.
E&C Bouw
Largest movements
- Stocks and contracts +€97,995
new in 2025: €97,995
- Tangible fixed assets +€78,656
up €78,656 (+28.5%), from €276,075 to €354,732
of which Furniture and vehicles: +€74,860
- Cash -€38,892
down €38,892 (-30.7%), from €126,669 to €87,777
mainly Investment in fixed assets (net) (-€156,913) and Stocks and contracts (-€97,995)
- Receivables within one year -€23,935
down €23,935 (-50.2%), from €47,715 to €23,779
of which Trade receivables: -€17,860
- Reserves +€32,386
up €32,386 (+18.1%), from €178,812 to €211,198
- Debts after one year +€27,636
up €27,636 (+19.2%), from €143,618 to €171,253
- Current portion of long-term debt +€19,681
up €19,681 (+89.6%), from €21,955 to €41,636
- Other debts +€18,623
up €18,623 (+42.0%), from €44,364 to €62,986
- Trade debts +€11,676
up €11,676 (+26.0%), from €44,901 to €56,577
- Depreciation +€34,679
up €34,679 (+79.6%), from €43,577 to €78,256
- Gross operating margin +€21,905
up €21,905 (+18.7%), from €116,843 to €138,749
- Taxes -€5,547
down €5,547 (-30.5%), from €18,157 to €12,610
- Financial income -€5,483
down €5,483 (-100%), from €5,483 to €0
of which Non-recurring financial income: -€5,465
- Financial charges +€4,142
up €4,142 (+140%), from €2,965 to €7,107
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 | €455,845 | €571,161 | +€115,317 | +25.3% |
| Fixed assets | 21/28 | €276,075 | €354,732 | +€78,656 | +28.5% |
| Tangible fixed assets | 22/27 | €276,075 | €354,732 | +€78,656 | +28.5% |
| Plant, machinery and equipment | 23 | €77,110 | €100,106 | +€22,996 | +29.8% |
| Furniture and vehicles | 24 | €72,350 | €147,210 | +€74,860 | +103% |
| Leasing and similar rights | 25 | €126,615 | €107,415 | -€19,200 | -15.2% |
| Current assets | 29/58 | €179,769 | €216,430 | +€36,660 | +20.4% |
| Stocks and contracts in progress | 3 | - | €97,995 | +€97,995 | |
| Contracts in progress | 37 | - | €97,995 | +€97,995 | |
| Amounts receivable within one year | 40/41 | €47,715 | €23,779 | -€23,935 | -50.2% |
| Trade receivables | 40 | €31,361 | €13,501 | -€17,860 | -56.9% |
| Other amounts receivable | 41 | €16,354 | €10,278 | -€6,076 | -37.2% |
| Cash at bank and in hand | 54/58 | €126,669 | €87,777 | -€38,892 | -30.7% |
| Deferred charges and accrued income | 490/1 | €5,386 | €6,878 | +€1,493 | +27.7% |
| Total equity and liabilities | 10/49 | €455,845 | €571,161 | +€115,317 | +25.3% |
| Equity | 10/15 | €197,412 | €229,798 | +€32,386 | +16.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €178,812 | €211,198 | +€32,386 | +18.1% |
| Distributable reserves | 133 | €178,812 | €211,198 | +€32,386 | +18.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €258,432 | €341,363 | +€82,931 | +32.1% |
| Amounts payable after more than one year | 17 | €143,618 | €171,253 | +€27,636 | +19.2% |
| Financial debts | 170/4 | €143,618 | €171,253 | +€27,636 | +19.2% |
| Amounts payable within one year | 42/48 | €114,815 | €170,110 | +€55,295 | +48.2% |
| Current portion of amounts payable after more than one year | 42 | €21,955 | €41,636 | +€19,681 | +89.6% |
| Trade debts | 44 | €44,901 | €56,577 | +€11,676 | +26.0% |
| Suppliers | 440/4 | €44,901 | €56,577 | +€11,676 | +26.0% |
| Taxes, remuneration and social security | 45 | €3,595 | €8,910 | +€5,315 | +148% |
| Taxes | 450/3 | €0 | €8,910 | +€8,910 | |
| Remuneration and social security | 454/9 | €3,595 | €0 | -€3,595 | -100% |
| Other amounts payable | 47/48 | €44,364 | €62,986 | +€18,623 | +42.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,577 | €78,256 | +€34,679 | +79.6% |
| Other operating charges | 640/8 | €1,902 | €1,610 | -€292 | -15.4% |
| Non-recurring operating charges | 66A | - | €4,613 | +€4,613 | |
| Gross operating margin | 9900 | €116,843 | €138,749 | +€21,905 | +18.7% |
| Operating profit (loss) | 9901 | €71,364 | €54,270 | -€17,094 | -24.0% |
| Financial income | 75/76B | €5,483 | €0 | -€5,483 | -100% |
| Recurring financial income | 75 | €18 | €0 | -€18 | -100% |
| Non-recurring financial income | 76B | €5,465 | €0 | -€5,465 | -100% |
| Financial charges | 65/66B | €2,965 | €7,107 | +€4,142 | +140% |
| Recurring financial charges | 65 | €2,965 | €7,107 | +€4,142 | +140% |
| Profit (loss) for the period before taxes | 9903 | €73,882 | €47,163 | -€26,719 | -36.2% |
| Income taxes | 67/77 | €18,157 | €12,610 | -€5,547 | -30.5% |
| Profit (loss) for the period | 9904 | €55,725 | €34,553 | -€21,172 | -38.0% |
| Profit (loss) for the period to be appropriated | 9905 | €55,725 | €34,553 | -€21,172 | -38.0% |
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 22 October 2026 via checked.be.