NECAP 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
NECAP CONSTRUCT
NACE 43.310, Plastering work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€487,708
2024 · €603,559-€115,851
Equity
€2.3m
2024 · €1.8m+€487,708
Cash
€628,058
2024 · €245,848+€382,210
Balance sheet total
€6.9m
2024 · €6.9m+€58,889
Largest movements
Assets
- Receivables within one year -€1.1m
down €1.1m (-19.2%), from €5.9m to €4.8m
of which Trade receivables: -€1.2m
- Tangible fixed assets +€786,313
up €786,313 (+258.8%), from €303,859 to €1.1m
of which Plant, machinery and equipment: +€679,565
- Cash +€382,210
up €382,210 (+155.5%), from €245,848 to €628,058
mainly Receivables within one year (+€1.1m) and Other debts (+€580,525)
Equity and liabilities
- Trade debts -€645,688
down €645,688 (-20.1%), from €3.2m to €2.6m
- Other debts +€580,525
up €580,525 (+1546.4%), from €37,541 to €618,066
- Reserves +€487,708
up €487,708 (+31.4%), from €1.6m to €2.0m
of which Distributable reserves: +€487,708
- Advances received -€364,519
down €364,519 (-21.9%), from €1.7m to €1.3m
Income statement
- Turnover +€17.0m
new in 2025: €17.0m
- Goods and materials +€12.7m
new in 2025: €12.7m
of which Purchases: +€12.7m
- Services and other goods +€2.4m
new in 2025: €2.4m
- Gross operating margin -€2.1m
no longer reported in 2025 (was €2.1m)
- Staff costs +€304,273
up €304,273 (+22.7%), from €1.3m to €1.6m
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
€603,559
Turnover
+€17.0m
Other operating income
+€15,371
Goods and materials
-€12.7m
Services and other goods
-€2.4m
Staff costs
-€304,273
Depreciation
-€15,923
Other operating charges
-€22,245
Other operating items
-€1.7m
Financial income
+€110,452
Financial charges
-€61
Taxes
+€38,443
Result 2025
€487,708
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
+€1.4m
Investment
-€996,827
Financing
-€22,341
Cash 2024
€245,848
From operations (derived)
+€1.4m
Net result for the year
+€487,708
Depreciation
+€152,565
Stocks and contracts
+€37,397
Receivables within one year
+€1.1m
Deferred charges and accrued income
-€1,885
Trade debts
-€645,688
Tax, wage and social debts
+€23,205
Advances received
-€364,519
Other debts
+€580,525
Investment (derived)
-€996,827
Investment in fixed assets (net)
-€996,827
Financing
-€22,341
Debts after one year
-€22,341
Cash 2025
€628,058
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,876,652 | €6,935,541 | +€58,889 | +0.9% |
| Fixed assets | 21/28 | €391,741 | €1,236,003 | +€844,262 | +215.5% |
| Intangible fixed assets | 21 | €15,617 | €28,500 | +€12,883 | +82.5% |
| Tangible fixed assets | 22/27 | €303,859 | €1,090,172 | +€786,313 | +258.8% |
| Plant, machinery and equipment | 23 | €15,798 | €695,363 | +€679,565 | +4301.5% |
| Furniture and vehicles | 24 | €288,061 | €394,809 | +€106,748 | +37.1% |
| Financial fixed assets | 28 | €72,265 | €117,331 | +€45,066 | +62.4% |
| Other financial fixed assets | 284/8 | - | €117,331 | +€117,331 | |
| Amounts receivable and cash guarantees | 285/8 | - | €117,331 | +€117,331 | |
| Current assets | 29/58 | €6,484,911 | €5,699,538 | -€785,373 | -12.1% |
| Stocks and contracts in progress | 3 | €346,007 | €308,609 | -€37,397 | -10.8% |
| Stocks | 30/36 | €346,007 | €308,609 | -€37,397 | -10.8% |
| Raw materials and consumables | 30/31 | - | €308,609 | +€308,609 | |
| Amounts receivable within one year | 40/41 | €5,893,057 | €4,760,986 | -€1.1m | -19.2% |
| Trade receivables | 40 | €5,371,091 | €4,135,767 | -€1.2m | -23.0% |
| Other amounts receivable | 41 | €521,966 | €625,219 | +€103,253 | +19.8% |
| Cash at bank and in hand | 54/58 | €245,848 | €628,058 | +€382,210 | +155.5% |
| Deferred charges and accrued income | 490/1 | - | €1,885 | +€1,885 | |
| Total equity and liabilities | 10/49 | €6,876,652 | €6,935,541 | +€58,889 | +0.9% |
| Equity | 10/15 | €1,824,800 | €2,312,508 | +€487,708 | +26.7% |
| Contributions | 10/11 | €269,360 | €269,360 | = | 0.0% |
| Capital | 10 | €269,360 | €269,360 | = | 0.0% |
| Issued capital | 100 | €269,360 | €269,360 | = | 0.0% |
| Reserves | 13 | €1,555,440 | €2,043,148 | +€487,708 | +31.4% |
| Non-distributable reserves | 130/1 | €26,936 | €26,936 | = | 0.0% |
| Legal reserve | 130 | €26,936 | €26,936 | = | 0.0% |
| Distributable reserves | 133 | €1,528,504 | €2,016,212 | +€487,708 | +31.9% |
| Amounts payable | 17/49 | €5,051,853 | €4,623,034 | -€428,819 | -8.5% |
| Amounts payable after more than one year | 17 | €22,341 | - | -€22,341 | |
| Financial debts | 170/4 | €22,341 | - | -€22,341 | |
| Amounts payable within one year | 42/48 | €5,029,511 | €4,623,034 | -€406,478 | -8.1% |
| Current portion of amounts payable after more than one year | 42 | €21,082 | €21,082 | = | 0.0% |
| Trade debts | 44 | €3,204,749 | €2,559,061 | -€645,688 | -20.1% |
| Suppliers | 440/4 | €3,204,749 | €2,559,061 | -€645,688 | -20.1% |
| Advances received on contracts in progress | 46 | €1,662,413 | €1,297,895 | -€364,519 | -21.9% |
| Taxes, remuneration and social security | 45 | €103,725 | €126,930 | +€23,205 | +22.4% |
| Taxes | 450/3 | €103,725 | - | -€103,725 | |
| Remuneration and social security | 454/9 | - | €126,930 | +€126,930 | |
| Other amounts payable | 47/48 | €37,541 | €618,066 | +€580,525 | +1546.4% |
| Operating income | 70/76A | - | €17,358,485 | +€17.4m | |
| Turnover | 70 | - | €16,978,595 | +€17.0m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | €364,519 | +€364,519 | |
| Other operating income | 74 | - | €15,371 | +€15,371 | |
| Operating charges | 60/66A | - | €17,009,938 | +€17.0m | |
| Goods for resale, raw materials and consumables | 60 | - | €12,741,411 | +€12.7m | |
| Purchases | 600/8 | - | €12,704,014 | +€12.7m | |
| Change in stocks: decrease (increase) | 609 | - | €37,397 | +€37,397 | |
| Services and other goods | 61 | - | €2,437,865 | +€2.4m | |
| Remuneration, social security and pensions | 62 | €1,337,474 | €1,641,747 | +€304,273 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136,642 | €152,565 | +€15,923 | +11.7% |
| Other operating charges | 640/8 | €14,105 | €36,350 | +€22,245 | +157.7% |
| Gross operating margin | 9900 | €2,101,452 | - | -€2.1m | |
| Operating profit (loss) | 9901 | €613,231 | €348,546 | -€264,685 | -43.2% |
| Financial income | 75/76B | €250,901 | €361,352 | +€110,452 | +44.0% |
| Recurring financial income | 75 | €250,901 | €347,747 | +€96,846 | +38.6% |
| Income from financial fixed assets | 750 | - | €1,642 | +€1,642 | |
| Other financial income | 752/9 | - | €346,105 | +€346,105 | |
| Non-recurring financial income | 76B | - | €13,605 | +€13,605 | |
| Financial charges | 65/66B | €37,878 | €37,939 | +€61 | +0.2% |
| Recurring financial charges | 65 | €37,878 | €37,939 | +€61 | +0.2% |
| Debt charges | 650 | - | €16,053 | +€16,053 | |
| Other financial charges | 652/9 | - | €21,887 | +€21,887 | |
| Profit (loss) for the period before taxes | 9903 | €826,253 | €671,959 | -€154,294 | -18.7% |
| Income taxes | 67/77 | €222,694 | €184,251 | -€38,443 | -17.3% |
| Taxes | 670/3 | - | €184,251 | +€184,251 | |
| Profit (loss) for the period | 9904 | €603,559 | €487,708 | -€115,851 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €603,559 | €487,708 | -€115,851 | -19.2% |
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 29 September 2026 via checked.be.