EUROPE 131: what changed
What changed
EUROPE 131
NACE 68.122, Development of non-residential building projects
filed annual accounts (NBB)
Net result for the year
€30,091
2024 · €117,235-€87,144
Equity
€3.7m
2024 · €3.7m+€30,091
Cash
€174,945
2024 · €196,028-€21,083
Balance sheet total
€17.9m
2024 · €18.2m-€258,534
Largest movements
Assets
- Stocks and contracts -€9.3m
down €9.3m (-100%), from €9.3m to €0
- Receivables within one year +€8.0m
up €8.0m, from €0 to €8.0m
of which Other amounts receivable: +€5.4m
- Tangible fixed assets +€5.4m
up €5.4m (+127%), from €4.3m to €9.7m
of which Land and buildings: +€9.7m
- Receivables after one year -€4.4m
down €4.4m (-100%), from €4.4m to €0
Equity and liabilities
- Trade debts -€13.4m
down €13.4m (-99.1%), from €13.5m to €116,949
- Other debts +€13.2m
up €13.2m (+51,772%), from €25,494 to €13.2m
Income statement
- Depreciation +€285,917
new in 2025: €285,917
- Gross operating margin +€183,901
up €183,901, from -€15,881 to €168,020
- Taxes -€52,737
down €52,737, from €43,913 to -€8,824
- Other operating charges +€36,411
up €36,411 (+2,652%), from €1,373 to €37,785
- Financial charges +€22,593
up €22,593 (+3,890%), from €581 to €23,174
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€117,235
Gross operating margin
+€183,901
Depreciation
-€285,917
Other operating charges
-€36,411
Financial income
-€4,080
Financial charges
-€22,593
Taxes
+€52,737
Deferred taxes and other
+€25,219
Result 2025
€30,091
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€5.7m
Investment
-€5.7m
Financing
€0
Cash 2024
€196,028
From operations (derived)
+€5.7m
Net result for the year
+€30,091
Depreciation
+€285,917
Receivables after one year
+€4.4m
Stocks and contracts
+€9.3m
Receivables within one year
-€8.0m
Smaller working-capital items
-€40,713
Trade debts
-€13.4m
Tax, wage and social debts
-€106,808
Other debts
+€13.2m
Accrued charges and deferred income
+€60,986
Investment (derived)
-€5.7m
Investment in fixed assets (net)
-€5.7m
Cash 2025
€174,945
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,178,731 | €17,920,197 | -€258,534 | -1.4% |
| Fixed assets | 21/28 | €4,267,560 | €9,684,439 | +€5.4m | +127% |
| Tangible fixed assets | 22/27 | €4,267,560 | €9,684,439 | +€5.4m | +127% |
| Land and buildings | 22 | - | €9,679,800 | +€9.7m | |
| Furniture and vehicles | 24 | - | €4,639 | +€4,639 | |
| Other tangible fixed assets | 26 | €4,267,560 | €0 | -€4.3m | -100% |
| Current assets | 29/58 | €13,911,171 | €8,235,758 | -€5.7m | -40.8% |
| Amounts receivable after more than one year | 29 | €4,428,209 | €0 | -€4.4m | -100% |
| Other amounts receivable | 291 | €4,428,209 | €0 | -€4.4m | -100% |
| Stocks and contracts in progress | 3 | €9,261,440 | €0 | -€9.3m | -100% |
| Stocks | 30/36 | €9,261,440 | €0 | -€9.3m | -100% |
| Amounts receivable within one year | 40/41 | €0 | €8,019,824 | +€8.0m | |
| Trade receivables | 40 | €0 | €2,656,132 | +€2.7m | |
| Other amounts receivable | 41 | €0 | €5,363,692 | +€5.4m | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €196,028 | €174,945 | -€21,083 | -10.8% |
| Deferred charges and accrued income | 490/1 | €25,494 | €40,988 | +€15,494 | +60.8% |
| Total equity and liabilities | 10/49 | €18,178,731 | €17,920,197 | -€258,534 | -1.4% |
| Equity | 10/15 | €3,670,989 | €3,701,080 | +€30,091 | +0.8% |
| Contributions | 10/11 | €136,500 | €136,500 | = | 0.0% |
| Capital | 10 | €136,500 | €136,500 | = | 0.0% |
| Issued capital | 100 | €136,500 | €136,500 | = | 0.0% |
| Reserves | 13 | €3,534,489 | €3,564,580 | +€30,091 | +0.9% |
| Non-distributable reserves | 130/1 | €813,293 | €813,293 | = | 0.0% |
| Legal reserve | 130 | €13,650 | €13,650 | = | 0.0% |
| Other | 1319 | €799,643 | €799,643 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,496,652 | €2,420,996 | -€75,656 | -3.0% |
| Distributable reserves | 133 | €224,544 | €330,291 | +€105,747 | +47.1% |
| Provisions and deferred taxes | 16 | €832,217 | €806,999 | -€25,219 | -3.0% |
| Deferred taxes | 168 | €832,217 | €806,999 | -€25,219 | -3.0% |
| Amounts payable | 17/49 | €13,675,525 | €13,412,119 | -€263,406 | -1.9% |
| Amounts payable within one year | 42/48 | €13,675,525 | €13,351,132 | -€324,393 | -2.4% |
| Trade debts | 44 | €13,533,265 | €116,949 | -€13.4m | -99.1% |
| Suppliers | 440/4 | €13,533,265 | €116,949 | -€13.4m | -99.1% |
| Taxes, remuneration and social security | 45 | €116,766 | €9,957 | -€106,808 | -91.5% |
| Taxes | 450/3 | €116,766 | €9,957 | -€106,808 | -91.5% |
| Other amounts payable | 47/48 | €25,494 | €13,224,226 | +€13.2m | +51,772% |
| Accrued charges and deferred income | 492/3 | - | €60,986 | +€60,986 | |
| Non-recurring operating income | 76A | - | €22,713 | +€22,713 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €285,917 | +€285,917 | |
| Other operating charges | 640/8 | €1,373 | €37,785 | +€36,411 | +2,652% |
| Gross operating margin | 9900 | -€15,881 | €168,020 | +€183,901 | |
| Operating profit (loss) | 9901 | -€17,254 | -€155,682 | -€138,427 | -802% |
| Financial income | 75/76B | €178,983 | €174,904 | -€4,080 | -2.3% |
| Recurring financial income | 75 | €178,983 | €174,904 | -€4,080 | -2.3% |
| Financial charges | 65/66B | €581 | €23,174 | +€22,593 | +3,890% |
| Recurring financial charges | 65 | €581 | €23,174 | +€22,593 | +3,890% |
| Profit (loss) for the period before taxes | 9903 | €161,148 | -€3,952 | -€165,100 | |
| Transfer from deferred taxes | 780 | - | €25,219 | +€25,219 | |
| Income taxes | 67/77 | €43,913 | -€8,824 | -€52,737 | |
| Profit (loss) for the period | 9904 | €117,235 | €30,091 | -€87,144 | -74.3% |
| Transfer from tax-exempt reserves | 789 | - | €75,656 | +€75,656 | |
| Profit (loss) for the period to be appropriated | 9905 | €117,235 | €105,747 | -€11,488 | -9.8% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.