Quality for 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.
Quality for building
Largest movements
- Stocks and contracts -€1.4m
down €1.4m (-47.3%), from €2.9m to €1.5m
- Cash +€515,239
up €515,239 (+552%), from €93,292 to €608,531
mainly Stocks and contracts (+€1.4m) and Current portion of long-term debt (+€219,695)
- Receivables within one year -€68,618
down €68,618 (-98.6%), from €69,620 to €1,002
of which Trade receivables: -€46,494
- Tangible fixed assets -€41,777
down €41,777 (-58.5%), from €71,432 to €29,655
of which Plant, machinery and equipment: -€36,729
- Debts after one year -€1.3m
down €1.3m (-40.9%), from €3.3m to €1.9m
of which Financial debts: -€1.5m
- Current portion of long-term debt +€219,695
new in 2025: €219,695
- Tax, wage and social debts +€119,362
up €119,362 (+49,934%), from €239 to €119,601
- Profit (loss) carried forward +€64,146
up €64,146 (+33.4%), from -€191,959 to -€127,814
- Trade debts -€42,384
down €42,384 (-68.5%), from €61,897 to €19,513
- Gross operating margin +€270,887
up €270,887, from -€78,379 to €192,508
- Financial charges +€47,818
up €47,818 (+114%), from €42,035 to €89,853
- Other operating charges +€6,955
up €6,955 (+1,967%), from €354 to €7,309
- Depreciation -€2,397
down €2,397 (-23.7%), from €10,106 to €7,709
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 | €3,168,083 | €2,186,209 | -€981,874 | -31.0% |
| Formation expenses | 20 | €1,403 | €841 | -€562 | -40.0% |
| Fixed assets | 21/28 | €71,432 | €29,655 | -€41,777 | -58.5% |
| Tangible fixed assets | 22/27 | €71,432 | €29,655 | -€41,777 | -58.5% |
| Plant, machinery and equipment | 23 | €53,460 | €16,731 | -€36,729 | -68.7% |
| Furniture and vehicles | 24 | €17,972 | €12,924 | -€5,048 | -28.1% |
| Current assets | 29/58 | €3,095,248 | €2,155,712 | -€939,536 | -30.4% |
| Stocks and contracts in progress | 3 | €2,931,830 | €1,544,967 | -€1.4m | -47.3% |
| Stocks | 30/36 | €2,931,830 | €1,544,967 | -€1.4m | -47.3% |
| Amounts receivable within one year | 40/41 | €69,620 | €1,002 | -€68,618 | -98.6% |
| Trade receivables | 40 | €47,496 | €1,002 | -€46,494 | -97.9% |
| Other amounts receivable | 41 | €22,124 | €0 | -€22,124 | -100% |
| Cash at bank and in hand | 54/58 | €93,292 | €608,531 | +€515,239 | +552% |
| Deferred charges and accrued income | 490/1 | €506 | €1,212 | +€706 | +140% |
| Total equity and liabilities | 10/49 | €3,168,083 | €2,186,209 | -€981,874 | -31.0% |
| Equity | 10/15 | -€181,959 | -€117,814 | +€64,146 | +35.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€191,959 | -€127,814 | +€64,146 | +33.4% |
| Amounts payable | 17/49 | €3,350,043 | €2,304,023 | -€1.0m | -31.2% |
| Amounts payable after more than one year | 17 | €3,281,906 | €1,939,214 | -€1.3m | -40.9% |
| Financial debts | 170/4 | €1,502,737 | €0 | -€1.5m | -100% |
| Other amounts payable | 178/9 | €1,779,169 | €1,939,214 | +€160,045 | +9.0% |
| Amounts payable within one year | 42/48 | €68,136 | €364,809 | +€296,673 | +435% |
| Current portion of amounts payable after more than one year | 42 | - | €219,695 | +€219,695 | |
| Trade debts | 44 | €61,897 | €19,513 | -€42,384 | -68.5% |
| Suppliers | 440/4 | €61,897 | €19,513 | -€42,384 | -68.5% |
| Advances received on contracts in progress | 46 | €6,000 | €6,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €239 | €119,601 | +€119,362 | +49,934% |
| Taxes | 450/3 | €239 | €119,601 | +€119,362 | +49,934% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €7,226 | €0 | -€7,226 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,106 | €7,709 | -€2,397 | -23.7% |
| Other operating charges | 640/8 | €354 | €7,309 | +€6,955 | +1,967% |
| Non-recurring operating charges | 66A | - | €23,504 | +€23,504 | |
| Gross operating margin | 9900 | -€78,379 | €192,508 | +€270,887 | |
| Operating profit (loss) | 9901 | -€88,839 | €153,986 | +€242,824 | |
| Financial income | 75/76B | €0 | €73 | +€73 | +363,350% |
| Recurring financial income | 75 | €0 | €73 | +€73 | +363,350% |
| Financial charges | 65/66B | €42,035 | €89,853 | +€47,818 | +114% |
| Recurring financial charges | 65 | €42,035 | €89,853 | +€47,818 | +114% |
| Profit (loss) for the period before taxes | 9903 | -€130,874 | €64,206 | +€195,079 | |
| Income taxes | 67/77 | €65 | €60 | -€5 | -7.9% |
| Profit (loss) for the period | 9904 | -€130,939 | €64,146 | +€195,084 | |
| Profit (loss) for the period to be appropriated | 9905 | -€130,939 | €64,146 | +€195,084 |
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 13 October 2026 via checked.be.