Management & Building Services: 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.
Management & Building Services
Largest movements
- Cash +€4.5m
up €4.5m (+189.6%), from €2.4m to €6.8m
mainly Stocks and contracts (+€1.9m) and Advances received (+€1.3m)
- Stocks and contracts -€1.9m
down €1.9m (-91.9%), from €2.0m to €163,787
- Deferred charges and accrued income -€1.1m
down €1.1m (-59.8%), from €1.9m to €748,571
- Receivables within one year -€921,964
down €921,964 (-44.1%), from €2.1m to €1.2m
of which Trade receivables: -€1.4m
- Advances received +€1.3m
up €1.3m (+39.7%), from €3.4m to €4.7m
- Other debts -€1.3m
down €1.3m (-99.9%), from €1.3m to €800
- Short-term financial debts -€755,000
no longer reported in 2025 (was €755,000)
- Profit (loss) carried forward +€732,105
up €732,105, from -€212,205 to €519,900
- Trade debts +€610,591
up €610,591 (+232.0%), from €263,222 to €873,813
- Gross operating margin -€786,917
down €786,917 (-45.3%), from €1.7m to €950,021
- Taxes +€81,039
new in 2025: €81,039
- Financial charges -€79,584
down €79,584 (-40.3%), from €197,721 to €118,137
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,346,029 | €8,924,932 | +€578,903 | +6.9% |
| Fixed assets | 21/28 | €431 | €149 | -€282 | -65.4% |
| Tangible fixed assets | 22/27 | €431 | €149 | -€282 | -65.4% |
| Land and buildings | 22 | €43 | - | -€43 | |
| Furniture and vehicles | 24 | €388 | €149 | -€239 | -61.6% |
| Current assets | 29/58 | €8,345,598 | €8,924,783 | +€579,185 | +6.9% |
| Stocks and contracts in progress | 3 | €2,029,429 | €163,787 | -€1.9m | -91.9% |
| Stocks | 30/36 | €2,029,429 | €163,787 | -€1.9m | -91.9% |
| Amounts receivable within one year | 40/41 | €2,092,682 | €1,170,718 | -€921,964 | -44.1% |
| Trade receivables | 40 | €1,920,869 | €530,253 | -€1.4m | -72.4% |
| Other amounts receivable | 41 | €171,813 | €640,465 | +€468,652 | +272.8% |
| Current investments | 50/53 | €167 | €167 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,362,108 | €6,841,540 | +€4.5m | +189.6% |
| Deferred charges and accrued income | 490/1 | €1,861,212 | €748,571 | -€1.1m | -59.8% |
| Total equity and liabilities | 10/49 | €8,346,029 | €8,924,932 | +€578,903 | +6.9% |
| Equity | 10/15 | €39,694 | €796,988 | +€757,294 | +1907.8% |
| Contributions | 10/11 | €251,899 | €251,899 | = | 0.0% |
| Capital | 10 | €251,899 | €251,899 | = | 0.0% |
| Issued capital | 100 | €251,899 | €251,899 | = | 0.0% |
| Reserves | 13 | - | €25,189 | +€25,189 | |
| Non-distributable reserves | 130/1 | - | €25,189 | +€25,189 | |
| Legal reserve | 130 | - | €25,189 | +€25,189 | |
| Profit (loss) carried forward | 14 | -€212,205 | €519,900 | +€732,105 | |
| Amounts payable | 17/49 | €8,306,335 | €8,127,944 | -€178,391 | -2.1% |
| Amounts payable after more than one year | 17 | €1,911,095 | €1,900,000 | -€11,095 | -0.6% |
| Financial debts | 170/4 | €500,000 | €500,000 | = | 0.0% |
| Other amounts payable | 178/9 | €1,411,095 | €1,400,000 | -€11,095 | -0.8% |
| Amounts payable within one year | 42/48 | €5,869,554 | €5,649,580 | -€219,974 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | - | -€100,000 | |
| Financial debts | 43 | €755,000 | - | -€755,000 | |
| Credit institutions | 430/8 | €755,000 | - | -€755,000 | |
| Trade debts | 44 | €263,222 | €873,813 | +€610,591 | +232.0% |
| Suppliers | 440/4 | €263,222 | €873,813 | +€610,591 | +232.0% |
| Advances received on contracts in progress | 46 | €3,390,258 | €4,736,114 | +€1.3m | +39.7% |
| Taxes, remuneration and social security | 45 | €37,774 | €38,853 | +€1,079 | +2.9% |
| Taxes | 450/3 | €37,774 | €38,853 | +€1,079 | +2.9% |
| Other amounts payable | 47/48 | €1,323,300 | €800 | -€1.3m | -99.9% |
| Accrued charges and deferred income | 492/3 | €525,686 | €578,364 | +€52,678 | +10.0% |
| Remuneration, social security and pensions | 62 | €956 | €363 | -€593 | -62.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €587 | €282 | -€305 | -52.0% |
| Other operating charges | 640/8 | €4,024 | €572 | -€3,452 | -85.8% |
| Gross operating margin | 9900 | €1,736,938 | €950,021 | -€786,917 | -45.3% |
| Operating profit (loss) | 9901 | €1,731,371 | €948,804 | -€782,567 | -45.2% |
| Financial income | 75/76B | €10,418 | €7,666 | -€2,752 | -26.4% |
| Recurring financial income | 75 | €10,418 | €7,666 | -€2,752 | -26.4% |
| Financial charges | 65/66B | €197,721 | €118,137 | -€79,584 | -40.3% |
| Recurring financial charges | 65 | €197,721 | €118,137 | -€79,584 | -40.3% |
| Profit (loss) for the period before taxes | 9903 | €1,544,068 | €838,333 | -€705,735 | -45.7% |
| Income taxes | 67/77 | - | €81,039 | +€81,039 | |
| Profit (loss) for the period | 9904 | €1,544,068 | €757,294 | -€786,774 | -51.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,544,068 | €757,294 | -€786,774 | -51.0% |
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 8 October 2026 via checked.be.