SCHIPPERSKAAI DEVELOPMENT: 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.
What changed
SCHIPPERSKAAI DEVELOPMENT
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.9m
2024 · €624,343+€1.3m
Equity
-€902,137
2024 · -€2.8m+€1.9m
Cash
€4.1m
2024 · €1.2m+€2.9m
Balance sheet total
€11.0m
2024 · €15.0m-€4.0m
Largest movements
Assets
- Current investments -€7.9m
no longer reported in 2025 (was €7.9m)
- Cash +€2.9m
up €2.9m (+234%), from €1.2m to €4.1m
mainly Current investments (+€7.9m) and Net result for the year (+€1.9m)
- Stocks and contracts +€1.5m
up €1.5m (+36.0%), from €4.3m to €5.8m
of which Contracts in progress: +€1.6m
- Receivables within one year -€752,359
down €752,359 (-72.1%), from €1.0m to €290,730
of which Trade receivables: -€782,205
- Financial fixed assets +€205,143
up €205,143 (+40.9%), from €501,672 to €706,815
of which Companies linked by participating interests: +€205,143
Equity and liabilities
- Debts after one year -€4.0m
no longer reported in 2025 (was €4.0m)
- Advances received -€3.1m
down €3.1m (-72.3%), from €4.3m to €1.2m
- Profit (loss) carried forward +€1.9m
up €1.9m (+65.8%), from -€2.9m to -€992,137
- Trade debts +€1.3m
up €1.3m (+26.3%), from €4.8m to €6.0m
Income statement
- Goods and materials +€6.5m
up €6.5m (+70.8%), from €9.1m to €15.6m
- Turnover +€3.9m
up €3.9m (+32.4%), from €12.1m to €16.1m
- Services and other goods -€281,319
down €281,319 (-65.6%), from €428,753 to €147,434
- Financial charges -€272,423
down €272,423 (-63.1%), from €431,724 to €159,300
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
€624,343
Turnover
+€3.9m
Other operating income
+€154,971
Goods and materials
-€6.5m
Services and other goods
+€281,319
Depreciation
+€659
Write-downs
-€105,254
Other operating charges
+€38,309
Other operating items
+€3.3m
Financial income
-€65,491
Financial charges
+€272,423
Taxes
-€78,110
Result 2025
€1.9m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€810,865
Investment
+€7.7m
Financing
-€4.0m
Cash 2024
€1.2m
From operations (derived)
-€810,865
Net result for the year
+€1.9m
Depreciation
+€3,872
Stocks and contracts
-€1.5m
Receivables within one year
+€752,359
Smaller working-capital items
+€14,393
Trade debts
+€1.3m
Tax, wage and social debts
-€117,376
Advances received
-€3.1m
Investment (derived)
+€7.7m
Investment in fixed assets (net)
-€205,143
Current investments
+€7.9m
Financing
-€4.0m
Debts after one year
-€4.0m
Cash 2025
€4.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,047,250 | €10,998,126 | -€4.0m | -26.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €508,302 | €709,573 | +€201,271 | +39.6% |
| Intangible fixed assets | 21 | €6,630 | €2,758 | -€3,872 | -58.4% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Financial fixed assets | 28 | €501,672 | €706,815 | +€205,143 | +40.9% |
| Affiliated companies | 280/1 | €67,500 | €67,500 | = | 0.0% |
| Participating interests | 280 | €67,500 | €67,500 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €433,922 | €639,065 | +€205,143 | +47.3% |
| Amounts receivable | 283 | €433,922 | €639,065 | +€205,143 | +47.3% |
| Other financial fixed assets | 284/8 | €250 | €250 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €14,538,948 | €10,288,554 | -€4.3m | -29.2% |
| Stocks and contracts in progress | 3 | €4,252,972 | €5,782,239 | +€1.5m | +36.0% |
| Stocks | 30/36 | €1,699,172 | €1,613,502 | -€85,670 | -5.0% |
| Property held for sale | 35 | €1,699,172 | €1,613,502 | -€85,670 | -5.0% |
| Contracts in progress | 37 | €2,553,800 | €4,168,737 | +€1.6m | +63.2% |
| Amounts receivable within one year | 40/41 | €1,043,088 | €290,730 | -€752,359 | -72.1% |
| Trade receivables | 40 | €1,005,382 | €223,177 | -€782,205 | -77.8% |
| Other amounts receivable | 41 | €37,707 | €67,553 | +€29,846 | +79.2% |
| Current investments | 50/53 | €7,900,000 | - | -€7.9m | |
| Other investments | 51/53 | €7,900,000 | - | -€7.9m | |
| Cash at bank and in hand | 54/58 | €1,233,639 | €4,121,534 | +€2.9m | +234% |
| Deferred charges and accrued income | 490/1 | €109,249 | €94,051 | -€15,198 | -13.9% |
| Total equity and liabilities | 10/49 | €15,047,250 | €10,998,126 | -€4.0m | -26.9% |
| Equity | 10/15 | -€2,810,377 | -€902,137 | +€1.9m | +67.9% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Capital | 10 | €90,000 | €90,000 | = | 0.0% |
| Issued capital | 100 | €90,000 | €90,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,900,377 | -€992,137 | +€1.9m | +65.8% |
| Amounts payable | 17/49 | €17,857,628 | €11,900,263 | -€6.0m | -33.4% |
| Amounts payable after more than one year | 17 | €3,996,098 | - | -€4.0m | |
| Financial debts | 170/4 | €3,996,098 | - | -€4.0m | |
| Other loans | 174 | €3,996,098 | - | -€4.0m | |
| Amounts payable within one year | 42/48 | €13,856,433 | €11,899,976 | -€2.0m | -14.1% |
| Trade debts | 44 | €4,766,004 | €6,019,101 | +€1.3m | +26.3% |
| Suppliers | 440/4 | €4,766,004 | €6,019,101 | +€1.3m | +26.3% |
| Advances received on contracts in progress | 46 | €4,284,948 | €1,188,764 | -€3.1m | -72.3% |
| Taxes, remuneration and social security | 45 | €181,846 | €64,471 | -€117,376 | -64.5% |
| Taxes | 450/3 | €181,846 | €64,471 | -€117,376 | -64.5% |
| Other amounts payable | 47/48 | €4,623,635 | €4,627,639 | +€4,005 | +0.1% |
| Accrued charges and deferred income | 492/3 | €5,097 | €287 | -€4,810 | -94.4% |
| Operating income | 70/76A | €10,252,351 | €17,649,825 | +€7.4m | +72.2% |
| Turnover | 70 | €12,146,870 | €16,087,311 | +€3.9m | +32.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€1,945,200 | €1,353,060 | +€3.3m | |
| Other operating income | 74 | €50,681 | €205,652 | +€154,971 | +306% |
| Non-recurring operating income | 76A | - | €3,802 | +€3,802 | |
| Operating charges | 60/66A | €9,317,750 | €15,560,149 | +€6.2m | +67.0% |
| Goods for resale, raw materials and consumables | 60 | €9,122,905 | €15,580,590 | +€6.5m | +70.8% |
| Purchases | 600/8 | €9,122,905 | €15,580,590 | +€6.5m | +70.8% |
| Services and other goods | 61 | €428,753 | €147,434 | -€281,319 | -65.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,531 | €3,872 | -€659 | -14.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€281,460 | -€176,207 | +€105,254 | +37.4% |
| Other operating charges | 640/8 | €42,768 | €4,459 | -€38,309 | -89.6% |
| Non-recurring operating charges | 66A | €253 | - | -€253 | |
| Operating profit (loss) | 9901 | €934,601 | €2,089,677 | +€1.2m | +124% |
| Financial income | 75/76B | €121,466 | €55,974 | -€65,491 | -53.9% |
| Recurring financial income | 75 | €121,466 | €55,974 | -€65,491 | -53.9% |
| Income from current assets | 751 | €121,466 | €55,974 | -€65,491 | -53.9% |
| Other financial income | 752/9 | €0 | €0 | +€0 | +450% |
| Non-recurring financial income | 76B | - | €0 | = | |
| Financial charges | 65/66B | €431,724 | €159,300 | -€272,423 | -63.1% |
| Recurring financial charges | 65 | €431,724 | €159,300 | -€272,423 | -63.1% |
| Debt charges | 650 | €259,613 | €77,466 | -€182,148 | -70.2% |
| Other financial charges | 652/9 | €172,110 | €81,834 | -€90,276 | -52.5% |
| Profit (loss) for the period before taxes | 9903 | €624,343 | €1,986,351 | +€1.4m | +218% |
| Income taxes | 67/77 | €0 | €78,110 | +€78,110 | |
| Taxes | 670/3 | €0 | €78,110 | +€78,110 | |
| Profit (loss) for the period | 9904 | €624,343 | €1,908,241 | +€1.3m | +206% |
| Profit (loss) for the period to be appropriated | 9905 | €624,343 | €1,908,241 | +€1.3m | +206% |
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 14 October 2026 via checked.be.