OUT CONSTRUCTION: 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.
OUT CONSTRUCTION
Largest movements
- Cash +€14,244
up €14,244 (+26.1%), from €54,559 to €68,803
mainly Net result for the year (+€15,893) and Trade debts (+€7,527)
- Receivables within one year +€7,879
up €7,879 (+389.8%), from €2,021 to €9,900
of which Trade receivables: +€8,054
- Intangible fixed assets +€5,278
new in 2025: €5,278
- Tangible fixed assets -€4,028
down €4,028 (-20.8%), from €19,410 to €15,382
of which Furniture and vehicles: -€2,149
- Profit (loss) carried forward +€15,893
up €15,893 (+32.7%), from €48,609 to €64,501
- Trade debts +€7,527
up €7,527 (+810.2%), from €929 to €8,456
- Gross operating margin -€46,663
down €46,663 (-64.0%), from €72,959 to €26,296
- Staff costs -€33,575
down €33,575 (-99.6%), from €33,700 to €125
- Depreciation +€3,436
up €3,436 (+149.3%), from €2,301 to €5,738
- Taxes -€3,076
down €3,076 (-42.1%), from €7,302 to €4,227
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 | €75,991 | €99,363 | +€23,372 | +30.8% |
| Fixed assets | 21/28 | €19,410 | €20,660 | +€1,250 | +6.4% |
| Intangible fixed assets | 21 | - | €5,278 | +€5,278 | |
| Tangible fixed assets | 22/27 | €19,410 | €15,382 | -€4,028 | -20.8% |
| Plant, machinery and equipment | 23 | €4,574 | €2,695 | -€1,879 | -41.1% |
| Furniture and vehicles | 24 | €14,836 | €12,687 | -€2,149 | -14.5% |
| Current assets | 29/58 | €56,580 | €78,703 | +€22,123 | +39.1% |
| Amounts receivable within one year | 40/41 | €2,021 | €9,900 | +€7,879 | +389.8% |
| Trade receivables | 40 | €868 | €8,922 | +€8,054 | +928.3% |
| Other amounts receivable | 41 | €1,154 | €978 | -€175 | -15.2% |
| Cash at bank and in hand | 54/58 | €54,559 | €68,803 | +€14,244 | +26.1% |
| Total equity and liabilities | 10/49 | €75,991 | €99,363 | +€23,372 | +30.8% |
| Equity | 10/15 | €53,609 | €69,501 | +€15,893 | +29.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,609 | €64,501 | +€15,893 | +32.7% |
| Amounts payable | 17/49 | €22,382 | €29,862 | +€7,480 | +33.4% |
| Amounts payable within one year | 42/48 | €22,382 | €29,862 | +€7,480 | +33.4% |
| Trade debts | 44 | €929 | €8,456 | +€7,527 | +810.2% |
| Suppliers | 440/4 | €929 | €8,456 | +€7,527 | +810.2% |
| Taxes, remuneration and social security | 45 | €11,558 | €11,756 | +€198 | +1.7% |
| Taxes | 450/3 | €9,616 | €11,756 | +€2,140 | +22.3% |
| Remuneration and social security | 454/9 | €1,942 | - | -€1,942 | |
| Other amounts payable | 47/48 | €9,894 | €9,649 | -€245 | -2.5% |
| Remuneration, social security and pensions | 62 | €33,700 | €125 | -€33,575 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,301 | €5,738 | +€3,436 | +149.3% |
| Other operating charges | 640/8 | €422 | - | -€422 | |
| Non-recurring operating charges | 66A | €1,001 | €122 | -€879 | -87.8% |
| Gross operating margin | 9900 | €72,959 | €26,296 | -€46,663 | -64.0% |
| Operating profit (loss) | 9901 | €35,535 | €20,312 | -€15,223 | -42.8% |
| Financial income | 75/76B | €43 | €1 | -€42 | -98.4% |
| Recurring financial income | 75 | €43 | €1 | -€42 | -98.4% |
| Financial charges | 65/66B | €153 | €193 | +€40 | +26.3% |
| Recurring financial charges | 65 | €153 | €193 | +€40 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | €35,425 | €20,119 | -€15,306 | -43.2% |
| Income taxes | 67/77 | €7,302 | €4,227 | -€3,076 | -42.1% |
| Profit (loss) for the period | 9904 | €28,123 | €15,893 | -€12,230 | -43.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,123 | €15,893 | -€12,230 | -43.5% |
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 5 October 2026 via checked.be.