PERFECT - ECHAF: 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
PERFECT - ECHAF
NACE 43.990, Other specialised construction activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€222,364
2024 · -€59,091-€163,273
Equity
€921,208
2024 · €1.1m-€222,364
Cash
€236,959
2024 · €491,740-€254,781
Balance sheet total
€1.8m
2024 · €2.2m-€426,996
Largest movements
Assets
- Cash -€254,781
down €254,781 (-51.8%), from €491,740 to €236,959
mainly Debts after one year (-€235,447) and Net result for the year (-€222,364)
- Tangible fixed assets -€203,038
down €203,038 (-14.7%), from €1.4m to €1.2m
Equity and liabilities
- Debts after one year -€235,447
down €235,447 (-32.5%), from €725,544 to €490,097
- Profit (loss) carried forward -€222,364
down €222,364, from €2,457 to -€219,907
Income statement
- Gross operating margin -€207,882
down €207,882 (-13.1%), from €1.6m to €1.4m
- Staff costs -€83,657
down €83,657 (-6.2%), from €1.3m to €1.3m
- Depreciation +€65,068
up €65,068 (+32.5%), from €200,119 to €265,187
- Write-downs -€34,589
down €34,589 (-87.0%), from €39,739 to €5,150
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
-€59,091
Gross operating margin
-€207,882
Staff costs
+€83,657
Depreciation
-€65,068
Write-downs
+€34,589
Other operating charges
+€9,505
Financial income
-€5,112
Financial charges
-€4,198
Taxes
-€8,765
Result 2025
-€222,364
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
+€43,246
Investment
-€62,149
Financing
-€235,878
Cash 2024
€491,740
From operations (derived)
+€43,246
Net result for the year
-€222,364
Depreciation
+€265,187
Receivables within one year
-€8,714
Deferred charges and accrued income
-€22,108
Trade debts
+€21,322
Tax, wage and social debts
+€8,808
Accrued charges and deferred income
+€1,115
Investment (derived)
-€62,149
Investment in fixed assets (net)
-€62,149
Financing
-€235,878
Debts after one year
-€235,447
Current portion of long-term debt
-€431
Cash 2025
€236,959
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,217,165 | €1,790,168 | -€426,996 | -19.3% |
| Fixed assets | 21/28 | €1,383,814 | €1,180,777 | -€203,038 | -14.7% |
| Tangible fixed assets | 22/27 | €1,383,589 | €1,180,552 | -€203,038 | -14.7% |
| Land and buildings | 22 | €734,101 | €651,687 | -€82,414 | -11.2% |
| Plant, machinery and equipment | 23 | €312,189 | €240,252 | -€71,937 | -23.0% |
| Furniture and vehicles | 24 | €337,300 | €288,613 | -€48,687 | -14.4% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €833,350 | €609,391 | -€223,959 | -26.9% |
| Amounts receivable within one year | 40/41 | €313,375 | €322,089 | +€8,714 | +2.8% |
| Trade receivables | 40 | €270,780 | €302,003 | +€31,223 | +11.5% |
| Other amounts receivable | 41 | €42,595 | €20,086 | -€22,509 | -52.8% |
| Cash at bank and in hand | 54/58 | €491,740 | €236,959 | -€254,781 | -51.8% |
| Deferred charges and accrued income | 490/1 | €28,234 | €50,343 | +€22,108 | +78.3% |
| Total equity and liabilities | 10/49 | €2,217,165 | €1,790,168 | -€426,996 | -19.3% |
| Equity | 10/15 | €1,143,572 | €921,208 | -€222,364 | -19.4% |
| Contributions | 10/11 | €218,592 | €218,592 | = | 0.0% |
| Capital | 10 | €218,592 | €218,592 | = | 0.0% |
| Issued capital | 100 | €218,592 | €218,592 | = | 0.0% |
| Reserves | 13 | €922,523 | €922,523 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,861 | €25,861 | = | 0.0% |
| Legal reserve | 130 | €21,859 | €21,859 | = | 0.0% |
| Other | 1319 | €4,001 | €4,001 | = | 0.0% |
| Distributable reserves | 133 | €896,663 | €896,663 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,457 | -€219,907 | -€222,364 | |
| Amounts payable | 17/49 | €1,073,592 | €868,960 | -€204,632 | -19.1% |
| Amounts payable after more than one year | 17 | €725,544 | €490,097 | -€235,447 | -32.5% |
| Financial debts | 170/4 | €725,544 | €490,097 | -€235,447 | -32.5% |
| Amounts payable within one year | 42/48 | €347,983 | €377,682 | +€29,699 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €235,878 | €235,447 | -€431 | -0.2% |
| Trade debts | 44 | €46,645 | €67,967 | +€21,322 | +45.7% |
| Suppliers | 440/4 | €46,645 | €67,967 | +€21,322 | +45.7% |
| Taxes, remuneration and social security | 45 | €65,460 | €74,268 | +€8,808 | +13.5% |
| Taxes | 450/3 | €15,284 | €24,208 | +€8,924 | +58.4% |
| Remuneration and social security | 454/9 | €50,176 | €50,060 | -€116 | -0.2% |
| Accrued charges and deferred income | 492/3 | €65 | €1,181 | +€1,115 | +1706.3% |
| Remuneration, social security and pensions | 62 | €1,339,515 | €1,255,858 | -€83,657 | -6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €200,119 | €265,187 | +€65,068 | +32.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €39,739 | €5,150 | -€34,589 | -87.0% |
| Other operating charges | 640/8 | €42,329 | €32,824 | -€9,505 | -22.5% |
| Gross operating margin | 9900 | €1,588,713 | €1,380,831 | -€207,882 | -13.1% |
| Operating profit (loss) | 9901 | -€32,989 | -€178,188 | -€145,200 | -440.2% |
| Financial income | 75/76B | €9,237 | €4,125 | -€5,112 | -55.3% |
| Recurring financial income | 75 | €9,237 | €4,125 | -€5,112 | -55.3% |
| Financial charges | 65/66B | €33,539 | €37,737 | +€4,198 | +12.5% |
| Recurring financial charges | 65 | €33,539 | €37,737 | +€4,198 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | -€57,291 | -€211,800 | -€154,509 | -269.7% |
| Income taxes | 67/77 | €1,800 | €10,565 | +€8,765 | +486.9% |
| Profit (loss) for the period | 9904 | -€59,091 | -€222,364 | -€163,273 | -276.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€59,091 | -€222,364 | -€163,273 | -276.3% |
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.