Industrial Engineering Construction projects: 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.
Industrial Engineering Construction projects
Largest movements
- Tangible fixed assets +€23,475
up €23,475 (+361%), from €6,511 to €29,987
of which Furniture and vehicles: +€24,262
- Deferred charges and accrued income -€3,120
down €3,120 (-100%), from €3,120 to €0
- Cash +€3,082
up €3,082 (+5.0%), from €62,106 to €65,187
mainly Other debts (+€69,477) and Net result for the year (+€64,133)
- Receivables within one year +€1,864
up €1,864 (+9.9%), from €18,795 to €20,659
of which Trade receivables: +€2,144
- Other debts +€69,477
up €69,477 (+2,538%), from €2,738 to €72,214
- Reserves -€46,917
down €46,917 (-99.2%), from €47,273 to €356
- Tax, wage and social debts -€14,673
down €14,673 (-37.8%), from €38,789 to €24,115
- Current portion of long-term debt +€10,102
up €10,102, from €0 to €10,102
- Debts after one year +€7,421
new in 2025: €7,421
- Taxes -€5,404
down €5,404 (-23.5%), from €23,010 to €17,606
- Financial income -€2,973
down €2,973 (-89.4%), from €3,326 to €353
- Gross operating margin +€2,621
up €2,621 (+2.8%), from €92,577 to €95,199
- Depreciation +€2,423
up €2,423 (+57.6%), from €4,203 to €6,626
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 | €90,532 | €115,833 | +€25,301 | +27.9% |
| Fixed assets | 21/28 | €6,511 | €29,987 | +€23,475 | +361% |
| Tangible fixed assets | 22/27 | €6,511 | €29,987 | +€23,475 | +361% |
| Plant, machinery and equipment | 23 | €3,585 | €2,798 | -€786 | -21.9% |
| Furniture and vehicles | 24 | €2,927 | €27,188 | +€24,262 | +829% |
| Current assets | 29/58 | €84,021 | €85,846 | +€1,825 | +2.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €18,795 | €20,659 | +€1,864 | +9.9% |
| Trade receivables | 40 | €18,515 | €20,659 | +€2,144 | +11.6% |
| Other amounts receivable | 41 | €280 | €0 | -€280 | -100% |
| Cash at bank and in hand | 54/58 | €62,106 | €65,187 | +€3,082 | +5.0% |
| Deferred charges and accrued income | 490/1 | €3,120 | €0 | -€3,120 | -100% |
| Total equity and liabilities | 10/49 | €90,532 | €115,833 | +€25,301 | +27.9% |
| Equity | 10/15 | €48,273 | €1,356 | -€46,917 | -97.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €47,273 | €356 | -€46,917 | -99.2% |
| Distributable reserves | 133 | €47,273 | €356 | -€46,917 | -99.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €42,259 | €114,477 | +€72,218 | +171% |
| Amounts payable after more than one year | 17 | - | €7,421 | +€7,421 | |
| Financial debts | 170/4 | - | €7,421 | +€7,421 | |
| Amounts payable within one year | 42/48 | €42,259 | €107,056 | +€64,797 | +153% |
| Current portion of amounts payable after more than one year | 42 | €0 | €10,102 | +€10,102 | |
| Trade debts | 44 | €733 | €625 | -€108 | -14.7% |
| Suppliers | 440/4 | €733 | €625 | -€108 | -14.7% |
| Taxes, remuneration and social security | 45 | €38,789 | €24,115 | -€14,673 | -37.8% |
| Taxes | 450/3 | €38,789 | €24,115 | -€14,673 | -37.8% |
| Other amounts payable | 47/48 | €2,738 | €72,214 | +€69,477 | +2,538% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,203 | €6,626 | +€2,423 | +57.6% |
| Other operating charges | 640/8 | €1,320 | €1,714 | +€394 | +29.8% |
| Gross operating margin | 9900 | €92,577 | €95,199 | +€2,621 | +2.8% |
| Operating profit (loss) | 9901 | €87,054 | €86,859 | -€195 | -0.2% |
| Financial income | 75/76B | €3,326 | €353 | -€2,973 | -89.4% |
| Recurring financial income | 75 | €3,326 | €353 | -€2,973 | -89.4% |
| Financial charges | 65/66B | €5,633 | €5,473 | -€160 | -2.8% |
| Recurring financial charges | 65 | €5,633 | €5,473 | -€160 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €84,747 | €81,739 | -€3,009 | -3.6% |
| Income taxes | 67/77 | €23,010 | €17,606 | -€5,404 | -23.5% |
| Profit (loss) for the period | 9904 | €61,737 | €64,133 | +€2,396 | +3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €61,737 | €64,133 | +€2,396 | +3.9% |
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 17 October 2026 via checked.be.