SPLENDID: 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
SPLENDID
NACE 41.001, General construction of residential buildings
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€702,020
2024 · -€2.4m+€3.1m
Equity
€6.6m
2024 · €5.9m+€702,020
Cash
€2.1m
2024 · €611,524+€1.5m
Balance sheet total
€7.8m
2024 · €7.7m+€127,430
Largest movements
Assets
- Cash +€1.5m
up €1.5m (+237.3%), from €611,524 to €2.1m
mainly Stocks and contracts (+€1.1m) and Net result for the year (+€702,020)
- Stocks and contracts -€1.1m
down €1.1m (-42.5%), from €2.7m to €1.5m
- Receivables within one year -€184,666
down €184,666 (-5.1%), from €3.6m to €3.4m
of which Other amounts receivable: -€173,578
Equity and liabilities
- Profit (loss) carried forward +€2.4m
no longer reported in 2025 (was -€2.4m)
- Reserves -€1.7m
down €1.7m (-20.8%), from €8.3m to €6.6m
of which Distributable reserves: -€1.7m
- Short-term financial debts -€569,003
down €569,003 (-95.0%), from €599,194 to €30,191
- Advances received +€171,000
up €171,000 (+43.7%), from €391,000 to €562,000
- Trade debts -€133,117
down €133,117 (-30.3%), from €439,824 to €306,707
Income statement
- Financial charges -€2.4m
down €2.4m (-98.8%), from €2.5m to €29,362
of which Financial charges: -€2.3m
- Turnover +€1.5m
up €1.5m (+22.8%), from €6.7m to €8.2m
- Services and other goods -€149,284
down €149,284 (-24.5%), from €609,382 to €460,099
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
-€2.4m
Turnover
+€1.5m
Other operating income
-€8,146
Goods and materials
-€67,680
Services and other goods
+€149,284
Staff costs
-€30,059
Depreciation
+€2,827
Other operating charges
+€5,000
Other operating items
-€805,316
Financial income
-€78,798
Financial charges
+€2.4m
Taxes
-€77
Result 2025
€702,020
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
+€2.1m
Investment
-€54,573
Financing
-€574,681
Cash 2024
€611,524
From operations (derived)
+€2.1m
Net result for the year
+€702,020
Depreciation
+€67,381
Stocks and contracts
+€1.1m
Receivables within one year
+€184,666
Smaller working-capital items
+€405
Trade debts
-€133,117
Tax, wage and social debts
-€31,377
Advances received
+€171,000
Other debts
-€6,416
Investment (derived)
-€54,573
Investment in fixed assets (net)
-€54,573
Financing
-€574,681
Debts after one year
-€4,755
Current portion of long-term debt
-€923
Short-term financial debts
-€569,003
Cash 2025
€2.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,673,957 | €7,801,387 | +€127,430 | +1.7% |
| Fixed assets | 21/28 | €199,646 | €186,838 | -€12,808 | -6.4% |
| Tangible fixed assets | 22/27 | €199,646 | €186,838 | -€12,808 | -6.4% |
| Land and buildings | 22 | €66,458 | €65,136 | -€1,322 | -2.0% |
| Plant, machinery and equipment | 23 | €23,393 | €17,688 | -€5,704 | -24.4% |
| Furniture and vehicles | 24 | €33,338 | €39,966 | +€6,628 | +19.9% |
| Leasing and similar rights | 25 | €76,457 | €64,048 | -€12,409 | -16.2% |
| Current assets | 29/58 | €7,474,312 | €7,614,549 | +€140,238 | +1.9% |
| Amounts receivable after more than one year | 29 | €600,000 | €600,000 | = | 0.0% |
| Other amounts receivable | 291 | €600,000 | €600,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,651,808 | €1,525,838 | -€1.1m | -42.5% |
| Stocks | 30/36 | €2,651,808 | €1,525,838 | -€1.1m | -42.5% |
| Work in progress | 32 | €2,651,808 | €1,525,838 | -€1.1m | -42.5% |
| Amounts receivable within one year | 40/41 | €3,600,005 | €3,415,339 | -€184,666 | -5.1% |
| Trade receivables | 40 | €116,110 | €105,022 | -€11,088 | -9.5% |
| Other amounts receivable | 41 | €3,483,895 | €3,310,317 | -€173,578 | -5.0% |
| Cash at bank and in hand | 54/58 | €611,524 | €2,062,803 | +€1.5m | +237.3% |
| Deferred charges and accrued income | 490/1 | €10,974 | €10,569 | -€404 | -3.7% |
| Total equity and liabilities | 10/49 | €7,673,957 | €7,801,387 | +€127,430 | +1.7% |
| Equity | 10/15 | €5,894,463 | €6,596,483 | +€702,020 | +11.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,304,015 | €6,577,883 | -€1.7m | -20.8% |
| Tax-exempt reserves | 132 | €16,771 | €16,771 | = | 0.0% |
| Distributable reserves | 133 | €8,287,243 | €6,561,111 | -€1.7m | -20.8% |
| Profit (loss) carried forward | 14 | -€2,428,152 | - | +€2.4m | |
| Amounts payable | 17/49 | €1,779,495 | €1,204,905 | -€574,590 | -32.3% |
| Amounts payable after more than one year | 17 | €24,183 | €19,427 | -€4,755 | -19.7% |
| Financial debts | 170/4 | €24,183 | €19,427 | -€4,755 | -19.7% |
| Leasing and similar obligations | 172 | €24,183 | €19,427 | -€4,755 | -19.7% |
| Amounts payable within one year | 42/48 | €1,755,298 | €1,185,463 | -€569,835 | -32.5% |
| Current portion of amounts payable after more than one year | 42 | €28,955 | €28,031 | -€923 | -3.2% |
| Financial debts | 43 | €599,194 | €30,191 | -€569,003 | -95.0% |
| Credit institutions | 430/8 | €599,194 | €30,191 | -€569,003 | -95.0% |
| Trade debts | 44 | €439,824 | €306,707 | -€133,117 | -30.3% |
| Suppliers | 440/4 | €439,824 | €306,707 | -€133,117 | -30.3% |
| Advances received on contracts in progress | 46 | €391,000 | €562,000 | +€171,000 | +43.7% |
| Taxes, remuneration and social security | 45 | €289,910 | €258,534 | -€31,377 | -10.8% |
| Taxes | 450/3 | €90,324 | €66,418 | -€23,905 | -26.5% |
| Remuneration and social security | 454/9 | €199,587 | €192,116 | -€7,471 | -3.7% |
| Other amounts payable | 47/48 | €6,416 | - | -€6,416 | |
| Accrued charges and deferred income | 492/3 | €14 | €14 | +€0 | +2.0% |
| Operating income | 70/76A | €6,457,395 | €7,167,073 | +€709,677 | +11.0% |
| Turnover | 70 | €6,693,736 | €8,217,238 | +€1.5m | +22.8% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€352,588 | -€1,125,970 | -€773,383 | -219.3% |
| Other operating income | 74 | €81,326 | €73,180 | -€8,146 | -10.0% |
| Non-recurring operating income | 76A | €34,921 | €2,624 | -€32,297 | -92.5% |
| Operating charges | 60/66A | €6,526,095 | €6,466,359 | -€59,736 | -0.9% |
| Goods for resale, raw materials and consumables | 60 | €4,599,415 | €4,667,095 | +€67,680 | +1.5% |
| Purchases | 600/8 | €4,599,415 | €4,667,095 | +€67,680 | +1.5% |
| Services and other goods | 61 | €609,382 | €460,099 | -€149,284 | -24.5% |
| Remuneration, social security and pensions | 62 | €1,227,411 | €1,257,470 | +€30,059 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,208 | €67,381 | -€2,827 | -4.0% |
| Other operating charges | 640/8 | €19,314 | €14,315 | -€5,000 | -25.9% |
| Non-recurring operating charges | 66A | €364 | - | -€364 | |
| Operating profit (loss) | 9901 | -€68,700 | €700,714 | +€769,413 | |
| Financial income | 75/76B | €112,153 | €33,355 | -€78,798 | -70.3% |
| Recurring financial income | 75 | €112,153 | €33,355 | -€78,798 | -70.3% |
| Income from current assets | 751 | €96,818 | €19,779 | -€77,039 | -79.6% |
| Other financial income | 752/9 | €15,335 | €13,577 | -€1,758 | -11.5% |
| Financial charges | 65/66B | €2,468,995 | €29,362 | -€2.4m | -98.8% |
| Recurring financial charges | 65 | €2,368,196 | €29,362 | -€2.3m | -98.8% |
| Debt charges | 650 | €85,702 | €28,673 | -€57,029 | -66.5% |
| Other financial charges | 652/9 | €2,282,494 | €689 | -€2.3m | -100.0% |
| Non-recurring financial charges | 66B | €100,799 | - | -€100,799 | |
| Profit (loss) for the period before taxes | 9903 | -€2,425,542 | €704,707 | +€3.1m | |
| Income taxes | 67/77 | €2,610 | €2,687 | +€77 | +3.0% |
| Taxes | 670/3 | €3,446 | €2,687 | -€760 | -22.0% |
| Tax adjustments and reversals of tax provisions | 77 | €837 | - | -€837 | |
| Profit (loss) for the period | 9904 | -€2,428,152 | €702,020 | +€3.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,428,152 | €702,020 | +€3.1m |
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 4 October 2026 via checked.be.