HUYGENS CONSTRUCT: 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
HUYGENS CONSTRUCT
NACE 41.001, General construction of residential buildings
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€20,319
2024 · €27,800-€7,480
Equity
€1.5m
2024 · €1.5m+€20,319
Cash
€12,987
2024 · €16,135-€3,148
Balance sheet total
€3.1m
2024 · €3.1m-€15,606
Largest movements
Assets
- Stocks and contracts -€135,008
down €135,008 (-8.5%), from €1.6m to €1.5m
- Receivables within one year +€113,998
up €113,998 (+9.9%), from €1.2m to €1.3m
of which Other amounts receivable: +€362,750
Equity and liabilities
- Short-term financial debts +€258,931
up €258,931 (+21.9%), from €1.2m to €1.4m
- Trade debts -€247,533
down €247,533 (-91.7%), from €270,058 to €22,525
Income statement
- Financial charges -€39,817
down €39,817 (-37.3%), from €106,803 to €66,986
- Gross operating margin -€30,295
down €30,295 (-8.5%), from €356,043 to €325,748
- Write-downs -€22,668
no longer reported in 2025 (was €22,668)
- Depreciation +€15,582
up €15,582 (+183.4%), from €8,496 to €24,078
- Staff costs +€13,409
up €13,409 (+7.6%), from €176,221 to €189,630
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
€27,800
Gross operating margin
-€30,295
Staff costs
-€13,409
Depreciation
-€15,582
Write-downs
+€22,668
Other operating charges
-€9,562
Financial income
+€818
Financial charges
+€39,817
Taxes
-€1,936
Result 2025
€20,319
Cash bridge derived
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
-€227,850
Investment
-€30,000
Financing
+€254,702
Cash 2024
€16,135
From operations (derived)
-€227,850
Net result for the year
+€20,319
Depreciation
+€24,078
Stocks and contracts
+€135,008
Receivables within one year
-€113,998
Deferred charges and accrued income
-€2,629
Trade debts
-€247,533
Tax, wage and social debts
-€6,575
Other debts
-€28,088
Accrued charges and deferred income
-€8,431
Investment (derived)
-€30,000
Investment in fixed assets (net)
-€30,000
Financing
+€254,702
Current portion of long-term debt
-€4,229
Short-term financial debts
+€258,931
Cash 2025
€12,987
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,118,833 | €3,103,227 | -€15,606 | -0.5% |
| Fixed assets | 21/28 | €342,734 | €348,657 | +€5,922 | +1.7% |
| Tangible fixed assets | 22/27 | €43,998 | €49,920 | +€5,922 | +13.5% |
| Land and buildings | 22 | €33,496 | €29,528 | -€3,968 | -11.8% |
| Plant, machinery and equipment | 23 | €502 | €393 | -€110 | -21.9% |
| Assets under construction and advance payments | 27 | €10,000 | €20,000 | +€10,000 | +100.0% |
| Financial fixed assets | 28 | €298,736 | €298,736 | = | 0.0% |
| Current assets | 29/58 | €2,776,099 | €2,754,570 | -€21,529 | -0.8% |
| Stocks and contracts in progress | 3 | €1,595,729 | €1,460,721 | -€135,008 | -8.5% |
| Stocks | 30/36 | €1,595,729 | €1,460,721 | -€135,008 | -8.5% |
| Amounts receivable within one year | 40/41 | €1,157,254 | €1,271,251 | +€113,998 | +9.9% |
| Trade receivables | 40 | €411,931 | €163,179 | -€248,752 | -60.4% |
| Other amounts receivable | 41 | €745,322 | €1,108,072 | +€362,750 | +48.7% |
| Current investments | 50/53 | €42 | €42 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €16,135 | €12,987 | -€3,148 | -19.5% |
| Deferred charges and accrued income | 490/1 | €6,940 | €9,569 | +€2,629 | +37.9% |
| Total equity and liabilities | 10/49 | €3,118,833 | €3,103,227 | -€15,606 | -0.5% |
| Equity | 10/15 | €1,458,036 | €1,478,355 | +€20,319 | +1.4% |
| Contributions | 10/11 | €123,900 | €123,900 | = | 0.0% |
| Capital | 10 | €123,900 | €123,900 | = | 0.0% |
| Issued capital | 100 | €123,900 | €123,900 | = | 0.0% |
| Reserves | 13 | €1,334,136 | €1,354,455 | +€20,319 | +1.5% |
| Non-distributable reserves | 130/1 | €12,390 | €12,390 | = | 0.0% |
| Legal reserve | 130 | €12,390 | €12,390 | = | 0.0% |
| Distributable reserves | 133 | €1,321,746 | €1,342,065 | +€20,319 | +1.5% |
| Amounts payable | 17/49 | €1,660,797 | €1,624,872 | -€35,926 | -2.2% |
| Amounts payable within one year | 42/48 | €1,651,968 | €1,624,474 | -€27,494 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €4,229 | - | -€4,229 | |
| Financial debts | 43 | €1,184,069 | €1,443,000 | +€258,931 | +21.9% |
| Credit institutions | 430/8 | €1,184,069 | €1,443,000 | +€258,931 | +21.9% |
| Trade debts | 44 | €270,058 | €22,525 | -€247,533 | -91.7% |
| Suppliers | 440/4 | €270,058 | €22,525 | -€247,533 | -91.7% |
| Taxes, remuneration and social security | 45 | €42,797 | €36,222 | -€6,575 | -15.4% |
| Taxes | 450/3 | €6,683 | €1,767 | -€4,916 | -73.6% |
| Remuneration and social security | 454/9 | €36,114 | €34,455 | -€1,659 | -4.6% |
| Other amounts payable | 47/48 | €150,815 | €122,727 | -€28,088 | -18.6% |
| Accrued charges and deferred income | 492/3 | €8,829 | €398 | -€8,431 | -95.5% |
| Remuneration, social security and pensions | 62 | €176,221 | €189,630 | +€13,409 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,496 | €24,078 | +€15,582 | +183.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,668 | - | -€22,668 | |
| Other operating charges | 640/8 | €9,420 | €18,982 | +€9,562 | +101.5% |
| Gross operating margin | 9900 | €356,043 | €325,748 | -€30,295 | -8.5% |
| Operating profit (loss) | 9901 | €139,238 | €93,058 | -€46,179 | -33.2% |
| Financial income | 75/76B | €1,372 | €2,190 | +€818 | +59.6% |
| Recurring financial income | 75 | €1,372 | €2,190 | +€818 | +59.6% |
| Financial charges | 65/66B | €106,803 | €66,986 | -€39,817 | -37.3% |
| Recurring financial charges | 65 | €106,803 | €66,986 | -€39,817 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €33,807 | €28,262 | -€5,545 | -16.4% |
| Income taxes | 67/77 | €6,007 | €7,943 | +€1,936 | +32.2% |
| Profit (loss) for the period | 9904 | €27,800 | €20,319 | -€7,480 | -26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,800 | €20,319 | -€7,480 | -26.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.