PASSION 4 BUILDING: what changed
Two financial 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.
PASSION 4 BUILDING
Largest movements
- Cash +€279,722
up €279,722 (+963%), from €29,059 to €308,781
mainly Advances received (+€226,500) and Trade debts (+€185,746)
- Stocks and contracts +€183,514
up €183,514 (+445%), from €41,209 to €224,723
- Receivables within one year -€138,052
down €138,052 (-17.7%), from €781,122 to €643,070
of which Other amounts receivable: -€273,234
- Tangible fixed assets +€38,293
up €38,293 (+4.0%), from €960,733 to €999,026
of which Furniture and vehicles: +€69,010
- Advances received +€226,500
up €226,500, from €0 to €226,500
- Trade debts +€185,746
up €185,746 (+1,915%), from €9,702 to €195,448
- Profit (loss) carried forward -€117,859
down €117,859 (-71.8%), from -€164,188 to -€282,048
- Debts after one year +€41,525
up €41,525 (+6.3%), from €663,326 to €704,852
of which Financial debts: +€41,525
- Current portion of long-term debt +€26,814
up €26,814 (+294%), from €9,127 to €35,941
- Gross operating margin -€291,913
down €291,913, from €232,950 to -€58,963
- Depreciation -€111,908
down €111,908 (-67.6%), from €165,539 to €53,631
- Taxes -€18,237
down €18,237 (-98.7%), from €18,477 to €241
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.
Derived cash bridge
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 | €1,826,653 | €2,193,122 | +€366,469 | +20.1% |
| Fixed assets | 21/28 | €960,733 | €999,026 | +€38,293 | +4.0% |
| Tangible fixed assets | 22/27 | €960,733 | €999,026 | +€38,293 | +4.0% |
| Land and buildings | 22 | €920,484 | €890,870 | -€29,614 | -3.2% |
| Plant, machinery and equipment | 23 | €2,359 | €1,256 | -€1,103 | -46.7% |
| Furniture and vehicles | 24 | €37,890 | €106,900 | +€69,010 | +182% |
| Current assets | 29/58 | €865,920 | €1,194,096 | +€328,176 | +37.9% |
| Stocks and contracts in progress | 3 | €41,209 | €224,723 | +€183,514 | +445% |
| Stocks | 30/36 | €41,209 | €224,723 | +€183,514 | +445% |
| Amounts receivable within one year | 40/41 | €781,122 | €643,070 | -€138,052 | -17.7% |
| Trade receivables | 40 | €6,717 | €141,899 | +€135,182 | +2,012% |
| Other amounts receivable | 41 | €774,405 | €501,171 | -€273,234 | -35.3% |
| Cash at bank and in hand | 54/58 | €29,059 | €308,781 | +€279,722 | +963% |
| Deferred charges and accrued income | 490/1 | €14,530 | €17,523 | +€2,992 | +20.6% |
| Total equity and liabilities | 10/49 | €1,826,653 | €2,193,122 | +€366,469 | +20.1% |
| Equity | 10/15 | €671,760 | €550,888 | -€120,872 | -18.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €815,948 | €812,936 | -€3,013 | -0.4% |
| Tax-exempt reserves | 132 | €96,405 | €93,392 | -€3,013 | -3.1% |
| Distributable reserves | 133 | €719,544 | €719,544 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€164,188 | -€282,048 | -€117,859 | -71.8% |
| Provisions and deferred taxes | 16 | €32,135 | €31,131 | -€1,004 | -3.1% |
| Deferred taxes | 168 | €32,135 | €31,131 | -€1,004 | -3.1% |
| Amounts payable | 17/49 | €1,122,759 | €1,611,104 | +€488,345 | +43.5% |
| Amounts payable after more than one year | 17 | €663,326 | €704,852 | +€41,525 | +6.3% |
| Financial debts | 170/4 | €13,326 | €54,852 | +€41,525 | +312% |
| Other amounts payable | 178/9 | €650,000 | €650,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €457,932 | €904,752 | +€446,820 | +97.6% |
| Current portion of amounts payable after more than one year | 42 | €9,127 | €35,941 | +€26,814 | +294% |
| Trade debts | 44 | €9,702 | €195,448 | +€185,746 | +1,915% |
| Suppliers | 440/4 | €9,702 | €195,448 | +€185,746 | +1,915% |
| Advances received on contracts in progress | 46 | €0 | €226,500 | +€226,500 | |
| Taxes, remuneration and social security | 45 | €8,476 | €11,339 | +€2,862 | +33.8% |
| Taxes | 450/3 | €8,476 | €11,339 | +€2,862 | +33.8% |
| Other amounts payable | 47/48 | €430,628 | €435,525 | +€4,897 | +1.1% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165,539 | €53,631 | -€111,908 | -67.6% |
| Other operating charges | 640/8 | €3,135 | €4,384 | +€1,248 | +39.8% |
| Non-recurring operating charges | 66A | - | €2,753 | +€2,753 | |
| Gross operating margin | 9900 | €232,950 | -€58,963 | -€291,913 | |
| Operating profit (loss) | 9901 | €64,276 | -€119,730 | -€184,006 | |
| Financial income | 75/76B | €1,437 | €11 | -€1,426 | -99.2% |
| Recurring financial income | 75 | €1,437 | €11 | -€1,426 | -99.2% |
| Financial charges | 65/66B | €1,953 | €1,916 | -€37 | -1.9% |
| Recurring financial charges | 65 | €1,953 | €1,916 | -€37 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €63,760 | -€121,636 | -€185,396 | |
| Transfer from deferred taxes | 780 | €1,004 | €1,004 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €18,477 | €241 | -€18,237 | -98.7% |
| Profit (loss) for the period | 9904 | €46,287 | -€120,872 | -€167,159 | |
| Transfer from tax-exempt reserves | 789 | €3,013 | €3,013 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €49,300 | -€117,859 | -€167,159 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.