THINK URBAN: 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
THINK URBAN
NACE 68.121, Development of residential building projects
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€665,443
2023 · -€24,552+€689,995
Equity
€2.4m
2023 · €1.7m+€665,443
Cash
€24,393
2023 · €40,843-€16,450
Balance sheet total
€8.4m
2023 · €8.0m+€398,027
Largest movements
Assets
- Stocks and contracts +€855,458
up €855,458 (+127%), from €674,381 to €1.5m
of which Stocks: +€579,155
- Receivables after one year -€309,177
down €309,177 (-20.3%), from €1.5m to €1.2m
Equity and liabilities
- Profit (loss) carried forward +€665,443
up €665,443, from -€16,176 to €649,267
- Other debts -€636,404
down €636,404 (-68.0%), from €935,953 to €299,549
- Advances received +€595,418
up €595,418 (+60.1%), from €990,521 to €1.6m
- Provisions -€260,867
down €260,867 (-28.5%), from €915,716 to €654,849
- Trade debts +€154,703
up €154,703 (+91.1%), from €169,897 to €324,600
Income statement
- Financial income +€719,455
up €719,455 (+5,897%), from €12,200 to €731,655
- Gross operating margin +€49,348
up €49,348 (+55.5%), from -€88,874 to -€39,526
- Financial charges +€33,851
up €33,851 (+32.3%), from €104,790 to €138,641
- Other operating charges +€23,293
up €23,293 (+55.7%), from €41,809 to €65,102
- Provisions +€11,160
up €11,160 (+4.1%), from -€272,027 to -€260,867
From the 2023 result to the 2024 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 2023
-€24,552
Gross operating margin
+€49,348
Depreciation
-€71
Provisions
-€11,160
Other operating charges
-€23,293
Other operating items
+€261
Financial income
+€719,455
Financial charges
-€33,851
Taxes
-€10,695
Result 2024
€665,443
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€149,319
Investment
-€2,576
Financing
-€163,192
Cash 2023
€40,843
From operations (derived)
+€149,319
Net result for the year
+€665,443
Depreciation
+€72,249
Receivables after one year
+€309,177
Stocks and contracts
-€855,458
Receivables within one year
+€56,977
Deferred charges and accrued income
+€5,154
Provisions
-€260,867
Trade debts
+€154,703
Tax, wage and social debts
+€18,691
Advances received
+€595,418
Other debts
-€636,404
Accrued charges and deferred income
+€24,236
Investment (derived)
-€2,576
Investment in fixed assets (net)
-€2,576
Financing
-€163,192
Debts after one year
-€113,925
Current portion of long-term debt
+€33,193
Short-term financial debts
-€82,460
Cash 2024
€24,393
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,047,683 | €8,445,710 | +€398,027 | +4.9% |
| Fixed assets | 21/28 | €4,933,890 | €4,864,217 | -€69,673 | -1.4% |
| Tangible fixed assets | 22/27 | €4,873,840 | €4,804,167 | -€69,673 | -1.4% |
| Furniture and vehicles | 24 | €1,556 | €1,621 | +€65 | +4.2% |
| Leasing and similar rights | 25 | €4,848,400 | €4,778,133 | -€70,267 | -1.4% |
| Other tangible fixed assets | 26 | €23,885 | €24,413 | +€528 | +2.2% |
| Financial fixed assets | 28 | €60,050 | €60,050 | = | 0.0% |
| Current assets | 29/58 | €3,113,792 | €3,581,493 | +€467,700 | +15.0% |
| Amounts receivable after more than one year | 29 | €1,525,957 | €1,216,780 | -€309,177 | -20.3% |
| Other amounts receivable | 291 | €1,525,957 | €1,216,780 | -€309,177 | -20.3% |
| Stocks and contracts in progress | 3 | €674,381 | €1,529,839 | +€855,458 | +127% |
| Stocks | 30/36 | €674,381 | €1,253,536 | +€579,155 | +85.9% |
| Contracts in progress | 37 | - | €276,303 | +€276,303 | |
| Amounts receivable within one year | 40/41 | €837,754 | €780,777 | -€56,977 | -6.8% |
| Trade receivables | 40 | €160,249 | €136,812 | -€23,436 | -14.6% |
| Other amounts receivable | 41 | €677,505 | €643,965 | -€33,540 | -5.0% |
| Cash at bank and in hand | 54/58 | €40,843 | €24,393 | -€16,450 | -40.3% |
| Deferred charges and accrued income | 490/1 | €34,857 | €29,704 | -€5,154 | -14.8% |
| Total equity and liabilities | 10/49 | €8,047,683 | €8,445,710 | +€398,027 | +4.9% |
| Equity | 10/15 | €1,701,731 | €2,367,174 | +€665,443 | +39.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €1,558,891 | €1,536,299 | -€22,593 | -1.4% |
| Reserves | 13 | €140,416 | €163,008 | +€22,593 | +16.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €138,556 | €161,148 | +€22,593 | +16.3% |
| Profit (loss) carried forward | 14 | -€16,176 | €649,267 | +€665,443 | |
| Provisions and deferred taxes | 16 | €915,716 | €654,849 | -€260,867 | -28.5% |
| Provisions for liabilities and charges | 160/5 | €915,716 | €654,849 | -€260,867 | -28.5% |
| Other liabilities and charges | 164/5 | €915,716 | €654,849 | -€260,867 | -28.5% |
| Amounts payable | 17/49 | €5,430,236 | €5,423,688 | -€6,548 | -0.1% |
| Amounts payable after more than one year | 17 | €2,488,184 | €2,374,259 | -€113,925 | -4.6% |
| Financial debts | 170/4 | €2,100,916 | €2,043,376 | -€57,540 | -2.7% |
| Other amounts payable | 178/9 | €387,268 | €330,883 | -€56,385 | -14.6% |
| Amounts payable within one year | 42/48 | €2,893,042 | €2,976,183 | +€83,141 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | €77,274 | €110,467 | +€33,193 | +43.0% |
| Financial debts | 43 | €642,319 | €559,859 | -€82,460 | -12.8% |
| Credit institutions | 430/8 | €642,319 | €559,859 | -€82,460 | -12.8% |
| Trade debts | 44 | €169,897 | €324,600 | +€154,703 | +91.1% |
| Suppliers | 440/4 | €169,897 | €324,600 | +€154,703 | +91.1% |
| Advances received on contracts in progress | 46 | €990,521 | €1,585,939 | +€595,418 | +60.1% |
| Taxes, remuneration and social security | 45 | €77,077 | €95,768 | +€18,691 | +24.2% |
| Taxes | 450/3 | €77,077 | €90,768 | +€13,691 | +17.8% |
| Remuneration and social security | 454/9 | €0 | €5,000 | +€5,000 | |
| Other amounts payable | 47/48 | €935,953 | €299,549 | -€636,404 | -68.0% |
| Accrued charges and deferred income | 492/3 | €49,010 | €73,246 | +€24,236 | +49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,178 | €72,249 | +€71 | +0.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€272,027 | -€260,867 | +€11,160 | +4.1% |
| Other operating charges | 640/8 | €41,809 | €65,102 | +€23,293 | +55.7% |
| Non-recurring operating charges | 66A | €352 | €91 | -€261 | -74.2% |
| Gross operating margin | 9900 | -€88,874 | -€39,526 | +€49,348 | +55.5% |
| Operating profit (loss) | 9901 | €68,814 | €83,899 | +€15,085 | +21.9% |
| Financial income | 75/76B | €12,200 | €731,655 | +€719,455 | +5,897% |
| Recurring financial income | 75 | €12,200 | €731,655 | +€719,455 | +5,897% |
| Financial charges | 65/66B | €104,790 | €138,641 | +€33,851 | +32.3% |
| Recurring financial charges | 65 | €104,790 | €138,641 | +€33,851 | +32.3% |
| Profit (loss) for the period before taxes | 9903 | -€23,777 | €676,913 | +€700,690 | |
| Income taxes | 67/77 | €775 | €11,470 | +€10,695 | +1,380% |
| Profit (loss) for the period | 9904 | -€24,552 | €665,443 | +€689,995 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,552 | €665,443 | +€689,995 |
Source: filed annual accounts (NBB), financial years ended 30 September 2023 and 30 September 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.