EXECON: 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.
What changed
EXECON
NACE 41.001, General construction of residential buildings
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€26,741
2024 · €751,715-€724,974
Equity
€7.4m
2024 · €7.4m+€26,741
Cash
€1.4m
2024 · €2.1m-€732,646
Balance sheet total
€13.5m
2024 · €11.9m+€1.6m
Largest movements
Assets
- Receivables within one year +€2.7m
up €2.7m (+37.2%), from €7.1m to €9.8m
of which Trade receivables: +€2.4m
- Cash -€732,646
down €732,646 (-34.6%), from €2.1m to €1.4m
mainly Receivables within one year (-€2.7m) and Other debts (-€699,993)
- Current investments -€338,680
down €338,680 (-15.5%), from €2.2m to €1.8m
Equity and liabilities
- Trade debts +€2.2m
up €2.2m (+60.6%), from €3.6m to €5.8m
- Other debts -€699,993
down €699,993 (-100.0%), from €700,078 to €85
Income statement
- Turnover +€1.1m
up €1.1m (+3.9%), from €27.1m to €28.2m
- Goods and materials +€935,715
up €935,715 (+4.6%), from €20.2m to €21.1m
- Services and other goods +€730,818
up €730,818 (+17.6%), from €4.2m to €4.9m
- Staff costs +€311,278
up €311,278 (+16.8%), from €1.9m to €2.2m
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.
Result 2024
€751,715
Turnover
+€1.1m
Other operating income
-€89,073
Goods and materials
-€935,715
Services and other goods
-€730,818
Staff costs
-€311,278
Depreciation
-€28,998
Write-downs
+€132,208
Other operating charges
-€3,820
Other operating items
+€5,625
Financial income
-€48,248
Financial charges
+€11,266
Taxes
+€206,397
Result 2025
€26,741
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€934,643
Investment
+€201,997
Financing
€0
Cash 2024
€2.1m
From operations (derived)
-€934,643
Net result for the year
+€26,741
Depreciation
+€114,925
Receivables within one year
-€2.7m
Deferred charges and accrued income
+€25,139
Trade debts
+€2.2m
Tax, wage and social debts
+€73,726
Other debts
-€699,993
Accrued charges and deferred income
-€24,132
Investment (derived)
+€201,997
Investment in fixed assets (net)
-€136,683
Current investments
+€338,680
Cash 2025
€1.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,948,623 | €13,524,571 | +€1.6m | +13.2% |
| Fixed assets | 21/28 | €418,922 | €440,680 | +€21,758 | +5.2% |
| Tangible fixed assets | 22/27 | €376,246 | €440,009 | +€63,763 | +16.9% |
| Plant, machinery and equipment | 23 | €24,369 | €32,458 | +€8,089 | +33.2% |
| Furniture and vehicles | 24 | €310,323 | €372,302 | +€61,979 | +20.0% |
| Other tangible fixed assets | 26 | €41,554 | €35,249 | -€6,305 | -15.2% |
| Financial fixed assets | 28 | €42,676 | €671 | -€42,005 | -98.4% |
| Other financial fixed assets | 284/8 | €42,676 | €671 | -€42,005 | -98.4% |
| Shares | 284 | €3,475 | €50 | -€3,425 | -98.6% |
| Amounts receivable and cash guarantees | 285/8 | €39,201 | €621 | -€38,580 | -98.4% |
| Current assets | 29/58 | €11,529,701 | €13,083,891 | +€1.6m | +13.5% |
| Amounts receivable within one year | 40/41 | €7,119,225 | €9,769,880 | +€2.7m | +37.2% |
| Trade receivables | 40 | €6,494,144 | €8,942,144 | +€2.4m | +37.7% |
| Other amounts receivable | 41 | €625,081 | €827,736 | +€202,655 | +32.4% |
| Current investments | 50/53 | €2,178,214 | €1,839,534 | -€338,680 | -15.5% |
| Other investments | 51/53 | €2,178,214 | €1,839,534 | -€338,680 | -15.5% |
| Cash at bank and in hand | 54/58 | €2,120,496 | €1,387,850 | -€732,646 | -34.6% |
| Deferred charges and accrued income | 490/1 | €111,766 | €86,627 | -€25,139 | -22.5% |
| Total equity and liabilities | 10/49 | €11,948,623 | €13,524,571 | +€1.6m | +13.2% |
| Equity | 10/15 | €7,371,592 | €7,398,333 | +€26,741 | +0.4% |
| Contributions | 10/11 | €375,000 | €375,000 | = | 0.0% |
| Capital | 10 | €375,000 | €375,000 | = | 0.0% |
| Issued capital | 100 | €375,000 | €375,000 | = | 0.0% |
| Reserves | 13 | €6,996,592 | €7,023,333 | +€26,741 | +0.4% |
| Non-distributable reserves | 130/1 | €37,500 | €37,500 | = | 0.0% |
| Legal reserve | 130 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €6,959,092 | €6,985,833 | +€26,741 | +0.4% |
| Amounts payable | 17/49 | €4,577,030 | €6,126,238 | +€1.5m | +33.8% |
| Amounts payable within one year | 42/48 | €4,551,018 | €6,124,357 | +€1.6m | +34.6% |
| Trade debts | 44 | €3,627,718 | €5,827,324 | +€2.2m | +60.6% |
| Suppliers | 440/4 | €3,627,718 | €5,827,324 | +€2.2m | +60.6% |
| Taxes, remuneration and social security | 45 | €223,222 | €296,947 | +€73,726 | +33.0% |
| Taxes | 450/3 | €41,834 | €43,874 | +€2,040 | +4.9% |
| Remuneration and social security | 454/9 | €181,388 | €253,073 | +€71,685 | +39.5% |
| Other amounts payable | 47/48 | €700,078 | €85 | -€699,993 | -100.0% |
| Accrued charges and deferred income | 492/3 | €26,013 | €1,881 | -€24,132 | -92.8% |
| Operating income | 70/76A | €27,239,806 | €28,218,213 | +€978,407 | +3.6% |
| Turnover | 70 | €27,088,880 | €28,156,359 | +€1.1m | +3.9% |
| Other operating income | 74 | €150,926 | €61,853 | -€89,073 | -59.0% |
| Operating charges | 60/66A | €26,479,438 | €28,352,234 | +€1.9m | +7.1% |
| Goods for resale, raw materials and consumables | 60 | €20,174,304 | €21,110,019 | +€935,715 | +4.6% |
| Purchases | 600/8 | €20,174,304 | €21,110,019 | +€935,715 | +4.6% |
| Services and other goods | 61 | €4,159,089 | €4,889,907 | +€730,818 | +17.6% |
| Remuneration, social security and pensions | 62 | €1,857,397 | €2,168,675 | +€311,278 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,927 | €114,925 | +€28,998 | +33.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €175,504 | €43,296 | -€132,208 | -75.3% |
| Other operating charges | 640/8 | €19,716 | €23,536 | +€3,820 | +19.4% |
| Non-recurring operating charges | 66A | €7,500 | €1,875 | -€5,625 | -75.0% |
| Operating profit (loss) | 9901 | €760,368 | -€134,021 | -€894,389 | |
| Financial income | 75/76B | €256,579 | €208,332 | -€48,248 | -18.8% |
| Recurring financial income | 75 | €256,579 | €208,332 | -€48,248 | -18.8% |
| Income from current assets | 751 | €78,918 | €83,332 | +€4,414 | +5.6% |
| Other financial income | 752/9 | €177,661 | €125,000 | -€52,661 | -29.6% |
| Financial charges | 65/66B | €36,175 | €24,909 | -€11,266 | -31.1% |
| Recurring financial charges | 65 | €36,175 | €24,909 | -€11,266 | -31.1% |
| Debt charges | 650 | €256 | €65 | -€191 | -74.5% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€19,682 | -€8,609 | +€11,073 | +56.3% |
| Other financial charges | 652/9 | €55,601 | €33,453 | -€22,148 | -39.8% |
| Profit (loss) for the period before taxes | 9903 | €980,772 | €49,401 | -€931,371 | -95.0% |
| Income taxes | 67/77 | €229,058 | €22,660 | -€206,397 | -90.1% |
| Taxes | 670/3 | €229,058 | €22,660 | -€206,397 | -90.1% |
| Profit (loss) for the period | 9904 | €751,715 | €26,741 | -€724,974 | -96.4% |
| Profit (loss) for the period to be appropriated | 9905 | €751,715 | €26,741 | -€724,974 | -96.4% |
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 15 October 2026 via checked.be.