Obras: 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.
Obras
Largest movements
- Tangible fixed assets +€28,936
up €28,936 (+49.5%), from €58,467 to €87,402
of which Furniture and vehicles: +€30,726
- Stocks and contracts +€19,206
up €19,206 (+33.5%), from €57,292 to €76,498
- Receivables within one year -€14,144
down €14,144 (-56.2%), from €25,162 to €11,018
of which Trade receivables: -€24,525
- Cash -€2,854
down €2,854 (-4.3%), from €65,699 to €62,845
mainly Investment in fixed assets (net) (-€36,457) and Other debts (-€24,444)
- Other debts -€24,444
down €24,444 (-100.0%), from €24,444 to €0
- Debts after one year +€20,739
new in 2025: €20,739
- Trade debts +€20,089
up €20,089 (+224.1%), from €8,964 to €29,053
- Reserves +€13,540
up €13,540 (+32.9%), from €41,109 to €54,649
of which Distributable reserves: +€13,540
- Current portion of long-term debt +€5,763
up €5,763, from €0 to €5,763
- Gross operating margin +€20,644
up €20,644 (+22.8%), from €90,411 to €111,054
- Staff costs +€9,616
up €9,616 (+15.0%), from €64,291 to €73,908
- Write-downs +€7,710
up €7,710, from -€1,648 to €6,062
- Taxes +€3,394
up €3,394 (+131.9%), from €2,573 to €5,967
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 | €210,650 | €240,827 | +€30,177 | +14.3% |
| Fixed assets | 21/28 | €58,607 | €87,402 | +€28,796 | +49.1% |
| Intangible fixed assets | 21 | €140 | €0 | -€140 | -100.0% |
| Tangible fixed assets | 22/27 | €58,467 | €87,402 | +€28,936 | +49.5% |
| Land and buildings | 22 | €54,758 | €52,710 | -€2,048 | -3.7% |
| Plant, machinery and equipment | 23 | €984 | €1,243 | +€258 | +26.2% |
| Furniture and vehicles | 24 | €2,724 | €33,450 | +€30,726 | +1127.9% |
| Current assets | 29/58 | €152,044 | €153,425 | +€1,381 | +0.9% |
| Stocks and contracts in progress | 3 | €57,292 | €76,498 | +€19,206 | +33.5% |
| Stocks | 30/36 | €57,292 | €76,498 | +€19,206 | +33.5% |
| Amounts receivable within one year | 40/41 | €25,162 | €11,018 | -€14,144 | -56.2% |
| Trade receivables | 40 | €25,151 | €625 | -€24,525 | -97.5% |
| Other amounts receivable | 41 | €12 | €10,393 | +€10,381 | +87603.8% |
| Cash at bank and in hand | 54/58 | €65,699 | €62,845 | -€2,854 | -4.3% |
| Deferred charges and accrued income | 490/1 | €3,890 | €3,063 | -€827 | -21.3% |
| Total equity and liabilities | 10/49 | €210,650 | €240,827 | +€30,177 | +14.3% |
| Equity | 10/15 | €138,331 | €152,160 | +€13,829 | +10.0% |
| Contributions | 10/11 | €48,350 | €48,350 | = | 0.0% |
| Revaluation surpluses | 12 | €51,209 | €49,160 | -€2,048 | -4.0% |
| Reserves | 13 | €41,109 | €54,649 | +€13,540 | +32.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €41,109 | €54,649 | +€13,540 | +32.9% |
| Profit (loss) carried forward | 14 | -€2,337 | €0 | +€2,337 | |
| Amounts payable | 17/49 | €72,319 | €88,667 | +€16,348 | +22.6% |
| Amounts payable after more than one year | 17 | - | €20,739 | +€20,739 | |
| Financial debts | 170/4 | - | €20,739 | +€20,739 | |
| Amounts payable within one year | 42/48 | €70,835 | €66,455 | -€4,381 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | €5,763 | +€5,763 | |
| Financial debts | 43 | €5,000 | €0 | -€5,000 | -100.0% |
| Credit institutions | 430/8 | €5,000 | €0 | -€5,000 | -100.0% |
| Trade debts | 44 | €8,964 | €29,053 | +€20,089 | +224.1% |
| Suppliers | 440/4 | €8,964 | €29,053 | +€20,089 | +224.1% |
| Taxes, remuneration and social security | 45 | €32,428 | €31,639 | -€788 | -2.4% |
| Taxes | 450/3 | €19,502 | €18,697 | -€805 | -4.1% |
| Remuneration and social security | 454/9 | €12,925 | €12,942 | +€17 | +0.1% |
| Other amounts payable | 47/48 | €24,444 | €0 | -€24,444 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,484 | €1,474 | -€10 | -0.7% |
| Remuneration, social security and pensions | 62 | €64,291 | €73,908 | +€9,616 | +15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,168 | €7,661 | +€494 | +6.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,648 | €6,062 | +€7,710 | |
| Other operating charges | 640/8 | €1,801 | €1,402 | -€400 | -22.2% |
| Non-recurring operating charges | 66A | - | €5,590 | +€5,590 | |
| Gross operating margin | 9900 | €90,411 | €111,054 | +€20,644 | +22.8% |
| Operating profit (loss) | 9901 | €18,799 | €16,431 | -€2,367 | -12.6% |
| Financial income | 75/76B | €9,988 | €8,936 | -€1,052 | -10.5% |
| Recurring financial income | 75 | €9,988 | €8,936 | -€1,052 | -10.5% |
| Financial charges | 65/66B | €5,998 | €5,572 | -€426 | -7.1% |
| Recurring financial charges | 65 | €5,998 | €5,572 | -€426 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €22,789 | €19,796 | -€2,993 | -13.1% |
| Income taxes | 67/77 | €2,573 | €5,967 | +€3,394 | +131.9% |
| Profit (loss) for the period | 9904 | €20,216 | €13,829 | -€6,388 | -31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €20,216 | €13,829 | -€6,388 | -31.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.