NUTONS: 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
NUTONS
NACE 42.130, Civil engineering
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5.2m
2024 · €5.5m-€320,991
Equity
€6.2m
2024 · €6.2m+€22,502
Cash
€3.8m
2024 · €1.8m+€2.0m
Balance sheet total
€13.2m
2024 · €17.8m-€4.6m
Largest movements
Assets
- Receivables within one year -€6.7m
down €6.7m (-51.4%), from €13.0m to €6.3m
of which Trade receivables: -€7.2m
- Cash +€2.0m
up €2.0m (+115.9%), from €1.8m to €3.8m
mainly Receivables within one year (+€6.7m) and Net result for the year (+€5.2m)
- Stocks and contracts +€414,292
up €414,292 (+64.7%), from €640,060 to €1.1m
- Financial fixed assets -€366,184
down €366,184 (-25.7%), from €1.4m to €1.1m
of which Affiliated companies: -€370,000
Equity and liabilities
- Other debts -€2.5m
down €2.5m (-96.7%), from €2.6m to €86,214
- Advances received -€1.1m
down €1.1m (-26.8%), from €3.9m to €2.9m
- Trade debts -€911,603
down €911,603 (-32.9%), from €2.8m to €1.9m
- Tax, wage and social debts -€291,583
down €291,583 (-30.2%), from €964,404 to €672,821
of which Taxes: -€222,926
Income statement
- Goods and materials -€4.2m
down €4.2m (-39.8%), from €10.6m to €6.4m
of which Purchases: -€4.2m
- Turnover +€1.5m
up €1.5m (+4.7%), from €32.0m to €33.5m
- Services and other goods -€863,883
down €863,883 (-9.3%), from €9.3m to €8.5m
- Financial charges +€380,112
up €380,112 (+756.5%), from €50,249 to €430,361
of which Non-recurring financial charges: +€370,000
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
€5.5m
Turnover
+€1.5m
Other operating income
-€8,542
Goods and materials
+€4.2m
Services and other goods
+€863,883
Staff costs
-€191,094
Depreciation
+€23,915
Provisions
+€50,806
Other operating charges
-€20,913
Other operating items
-€6.2m
Financial income
+€39,754
Financial charges
-€380,112
Taxes
-€231,667
Result 2025
€5.2m
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
+€7.0m
Investment
+€210,644
Financing
-€5.2m
Cash 2024
€1.8m
From operations (derived)
+€7.0m
Net result for the year
+€5.2m
Depreciation
+€226,825
Stocks and contracts
-€414,292
Receivables within one year
+€6.7m
Deferred charges and accrued income
-€23,398
Provisions
+€81,651
Trade debts
-€911,603
Tax, wage and social debts
-€291,583
Advances received
-€1.1m
Other debts
-€2.5m
Accrued charges and deferred income
+€30,000
Investment (derived)
+€210,644
Investment in fixed assets (net)
+€292,295
Current investments
-€81,651
Financing
-€5.2m
Debts after one year
-€6,861
Current portion of long-term debt
-€4,817
Short-term financial debts
-€581
Contributions, distributions and other
-€5.2m
Cash 2025
€3.8m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,797,759 | €13,168,317 | -€4.6m | -26.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €2,128,913 | €1,609,793 | -€519,120 | -24.4% |
| Intangible fixed assets | 21 | €3,010 | €47 | -€2,963 | -98.4% |
| Tangible fixed assets | 22/27 | €702,986 | €553,013 | -€149,973 | -21.3% |
| Land and buildings | 22 | €318,599 | €278,566 | -€40,032 | -12.6% |
| Plant, machinery and equipment | 23 | €235,057 | €133,610 | -€101,447 | -43.2% |
| Furniture and vehicles | 24 | €149,330 | €140,836 | -€8,494 | -5.7% |
| Financial fixed assets | 28 | €1,422,917 | €1,056,733 | -€366,184 | -25.7% |
| Affiliated companies | 280/1 | €910,000 | €540,000 | -€370,000 | -40.7% |
| Participating interests | 280 | €740,000 | €370,000 | -€370,000 | -50.0% |
| Amounts receivable | 281 | €170,000 | €170,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €512,917 | €516,733 | +€3,816 | +0.7% |
| Shares | 284 | €15,819 | €15,819 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €497,099 | €500,915 | +€3,816 | +0.8% |
| Current assets | 29/58 | €15,668,845 | €11,558,523 | -€4.1m | -26.2% |
| Stocks and contracts in progress | 3 | €640,060 | €1,054,352 | +€414,292 | +64.7% |
| Stocks | 30/36 | €640,060 | €1,054,352 | +€414,292 | +64.7% |
| Raw materials and consumables | 30/31 | €38,598 | €55,758 | +€17,161 | +44.5% |
| Work in progress | 32 | €601,462 | €998,594 | +€397,131 | +66.0% |
| Amounts receivable within one year | 40/41 | €12,997,092 | €6,318,877 | -€6.7m | -51.4% |
| Trade receivables | 40 | €12,524,268 | €5,304,998 | -€7.2m | -57.6% |
| Other amounts receivable | 41 | €472,824 | €1,013,879 | +€541,054 | +114.4% |
| Current investments | 50/53 | €225,807 | €307,458 | +€81,651 | +36.2% |
| Other investments | 51/53 | €225,807 | €307,458 | +€81,651 | +36.2% |
| Cash at bank and in hand | 54/58 | €1,767,140 | €3,815,694 | +€2.0m | +115.9% |
| Deferred charges and accrued income | 490/1 | €38,746 | €62,143 | +€23,398 | +60.4% |
| Total equity and liabilities | 10/49 | €17,797,759 | €13,168,317 | -€4.6m | -26.0% |
| Equity | 10/15 | €6,208,947 | €6,231,449 | +€22,502 | +0.4% |
| Contributions | 10/11 | €612,420 | €612,420 | = | 0.0% |
| Capital | 10 | €612,420 | €612,420 | = | 0.0% |
| Issued capital | 100 | €612,420 | €612,420 | = | 0.0% |
| Revaluation surpluses | 12 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €411,242 | €411,242 | = | 0.0% |
| Non-distributable reserves | 130/1 | €61,242 | €61,242 | = | 0.0% |
| Legal reserve | 130 | €61,242 | €61,242 | = | 0.0% |
| Distributable reserves | 133 | €350,000 | €350,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,179,087 | €5,201,590 | +€22,502 | +0.4% |
| Provisions and deferred taxes | 16 | €225,807 | €307,458 | +€81,651 | +36.2% |
| Provisions for liabilities and charges | 160/5 | €225,807 | €307,458 | +€81,651 | +36.2% |
| Other liabilities and charges | 164/5 | €225,807 | €307,458 | +€81,651 | +36.2% |
| Amounts payable | 17/49 | €11,363,005 | €6,629,410 | -€4.7m | -41.7% |
| Amounts payable after more than one year | 17 | €23,488 | €16,627 | -€6,861 | -29.2% |
| Financial debts | 170/4 | €6,861 | €0 | -€6,861 | -100.0% |
| Credit institutions | 173 | €6,861 | €0 | -€6,861 | -100.0% |
| Other amounts payable | 178/9 | €16,627 | €16,627 | = | 0.0% |
| Amounts payable within one year | 42/48 | €11,339,517 | €6,582,783 | -€4.8m | -41.9% |
| Current portion of amounts payable after more than one year | 42 | €11,679 | €6,861 | -€4,817 | -41.2% |
| Financial debts | 43 | €1,086,212 | €1,085,631 | -€581 | -0.1% |
| Credit institutions | 430/8 | €1,086,212 | €1,085,631 | -€581 | -0.1% |
| Trade debts | 44 | €2,769,727 | €1,858,124 | -€911,603 | -32.9% |
| Suppliers | 440/4 | €2,769,727 | €1,858,124 | -€911,603 | -32.9% |
| Advances received on contracts in progress | 46 | €3,924,961 | €2,873,132 | -€1.1m | -26.8% |
| Taxes, remuneration and social security | 45 | €964,404 | €672,821 | -€291,583 | -30.2% |
| Taxes | 450/3 | €482,249 | €259,322 | -€222,926 | -46.2% |
| Remuneration and social security | 454/9 | €482,155 | €413,499 | -€68,657 | -14.2% |
| Other amounts payable | 47/48 | €2,582,534 | €86,214 | -€2.5m | -96.7% |
| Accrued charges and deferred income | 492/3 | - | €30,000 | +€30,000 | |
| Operating income | 70/76A | €33,038,688 | €28,339,655 | -€4.7m | -14.2% |
| Turnover | 70 | €32,043,258 | €33,544,914 | +€1.5m | +4.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €607,176 | -€5,563,235 | -€6.2m | |
| Other operating income | 74 | €360,138 | €351,596 | -€8,542 | -2.4% |
| Non-recurring operating income | 76A | €28,115 | €6,380 | -€21,736 | -77.3% |
| Operating charges | 60/66A | €25,810,584 | €20,860,518 | -€5.0m | -19.2% |
| Goods for resale, raw materials and consumables | 60 | €10,616,816 | €6,393,348 | -€4.2m | -39.8% |
| Purchases | 600/8 | €10,597,132 | €6,410,509 | -€4.2m | -39.5% |
| Change in stocks: decrease (increase) | 609 | €19,684 | -€17,161 | -€36,845 | |
| Services and other goods | 61 | €9,319,515 | €8,455,632 | -€863,883 | -9.3% |
| Remuneration, social security and pensions | 62 | €5,412,340 | €5,603,433 | +€191,094 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €250,740 | €226,825 | -€23,915 | -9.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €132,457 | €81,651 | -€50,806 | -38.4% |
| Other operating charges | 640/8 | €78,716 | €99,629 | +€20,913 | +26.6% |
| Operating profit (loss) | 9901 | €7,228,104 | €7,479,137 | +€251,033 | +3.5% |
| Financial income | 75/76B | €137,557 | €177,311 | +€39,754 | +28.9% |
| Recurring financial income | 75 | €137,557 | €177,311 | +€39,754 | +28.9% |
| Income from financial fixed assets | 750 | €13,274 | €12,968 | -€306 | -2.3% |
| Income from current assets | 751 | €120,791 | €163,771 | +€42,980 | +35.6% |
| Other financial income | 752/9 | €3,492 | €572 | -€2,920 | -83.6% |
| Financial charges | 65/66B | €50,249 | €430,361 | +€380,112 | +756.5% |
| Recurring financial charges | 65 | €50,249 | €60,361 | +€10,112 | +20.1% |
| Debt charges | 650 | €28,806 | €30,016 | +€1,209 | +4.2% |
| Other financial charges | 652/9 | €21,443 | €30,345 | +€8,903 | +41.5% |
| Non-recurring financial charges | 66B | - | €370,000 | +€370,000 | |
| Profit (loss) for the period before taxes | 9903 | €7,315,412 | €7,226,087 | -€89,325 | -1.2% |
| Income taxes | 67/77 | €1,794,686 | €2,026,353 | +€231,667 | +12.9% |
| Taxes | 670/3 | €1,881,087 | €2,051,220 | +€170,133 | +9.0% |
| Tax adjustments and reversals of tax provisions | 77 | €86,400 | €24,867 | -€61,533 | -71.2% |
| Profit (loss) for the period | 9904 | €5,520,726 | €5,199,734 | -€320,991 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €5,520,726 | €5,199,734 | -€320,991 | -5.8% |
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.