UP CONSTRUCT: 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.
UP CONSTRUCT
Largest movements
- Receivables within one year -€429,512
down €429,512 (-72.7%), from €590,906 to €161,394
of which Other amounts receivable: -€434,127
- Stocks and contracts -€245,980
down €245,980 (-8.5%), from €2.9m to €2.7m
- Tangible fixed assets +€81,491
up €81,491 (+163%), from €50,039 to €131,530
of which Land and buildings: +€75,061
- Cash +€52,474
up €52,474 (+183%), from €28,618 to €81,092
mainly Receivables within one year (+€429,512) and Stocks and contracts (+€245,980)
- Financial fixed assets -€50,400
down €50,400 (-30.7%), from €164,300 to €113,900
- Other debts -€356,505
down €356,505 (-19.2%), from €1.9m to €1.5m
- Trade debts -€272,935
down €272,935 (-61.7%), from €442,681 to €169,747
- Short-term financial debts -€139,499
no longer reported in 2025 (was €139,499)
- Profit (loss) carried forward +€87,595
up €87,595 (+24.2%), from €361,680 to €449,275
- Debts after one year +€85,614
up €85,614 (+147%), from €58,044 to €143,658
- Turnover -€1.6m
down €1.6m (-43.1%), from €3.8m to €2.2m
- Purchases and services -€1.6m
down €1.6m (-48.2%), from €3.4m to €1.8m
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 | €3,732,943 | €3,141,016 | -€591,927 | -15.9% |
| Fixed assets | 21/28 | €214,339 | €245,430 | +€31,091 | +14.5% |
| Tangible fixed assets | 22/27 | €50,039 | €131,530 | +€81,491 | +163% |
| Land and buildings | 22 | €46,004 | €121,065 | +€75,061 | +163% |
| Plant, machinery and equipment | 23 | €1,411 | - | -€1,411 | |
| Furniture and vehicles | 24 | €2,624 | €10,464 | +€7,840 | +299% |
| Financial fixed assets | 28 | €164,300 | €113,900 | -€50,400 | -30.7% |
| Current assets | 29/58 | €3,518,604 | €2,895,586 | -€623,018 | -17.7% |
| Stocks and contracts in progress | 3 | €2,899,081 | €2,653,101 | -€245,980 | -8.5% |
| Stocks | 30/36 | €2,899,081 | €2,653,101 | -€245,980 | -8.5% |
| Amounts receivable within one year | 40/41 | €590,906 | €161,394 | -€429,512 | -72.7% |
| Trade receivables | 40 | €2,888 | €7,503 | +€4,615 | +160% |
| Other amounts receivable | 41 | €588,018 | €153,891 | -€434,127 | -73.8% |
| Cash at bank and in hand | 54/58 | €28,618 | €81,092 | +€52,474 | +183% |
| Total equity and liabilities | 10/49 | €3,732,943 | €3,141,016 | -€591,927 | -15.9% |
| Equity | 10/15 | €455,217 | €542,812 | +€87,595 | +19.2% |
| Contributions | 10/11 | €93,381 | €93,381 | = | 0.0% |
| Reserves | 13 | €155 | €155 | = | 0.0% |
| Non-distributable reserves | 130/1 | €155 | €155 | = | 0.0% |
| Reserves not available under the articles | 1311 | €155 | €155 | = | 0.0% |
| Profit (loss) carried forward | 14 | €361,680 | €449,275 | +€87,595 | +24.2% |
| Amounts payable | 17/49 | €3,277,726 | €2,598,204 | -€679,521 | -20.7% |
| Amounts payable after more than one year | 17 | €58,044 | €143,658 | +€85,614 | +147% |
| Financial debts | 170/4 | €58,044 | €143,658 | +€85,614 | +147% |
| Amounts payable within one year | 42/48 | €3,185,888 | €2,448,773 | -€737,115 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €706,780 | €764,782 | +€58,002 | +8.2% |
| Financial debts | 43 | €139,499 | - | -€139,499 | |
| Other loans | 439 | €139,499 | - | -€139,499 | |
| Trade debts | 44 | €442,681 | €169,747 | -€272,935 | -61.7% |
| Suppliers | 440/4 | €442,681 | €169,747 | -€272,935 | -61.7% |
| Taxes, remuneration and social security | 45 | €36,016 | €9,839 | -€26,178 | -72.7% |
| Taxes | 450/3 | €36,016 | €9,839 | -€26,178 | -72.7% |
| Other amounts payable | 47/48 | €1,860,910 | €1,504,405 | -€356,505 | -19.2% |
| Accrued charges and deferred income | 492/3 | €33,794 | €5,773 | -€28,021 | -82.9% |
| Turnover | 70 | €3,811,763 | €2,168,526 | -€1.6m | -43.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,402,912 | €1,764,352 | -€1.6m | -48.2% |
| Remuneration, social security and pensions | 62 | €120,126 | €122,741 | +€2,615 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,700 | €20,198 | +€10,498 | +108% |
| Other operating charges | 640/8 | €35,464 | €72,968 | +€37,504 | +106% |
| Gross operating margin | 9900 | €423,185 | €434,915 | +€11,730 | +2.8% |
| Operating profit (loss) | 9901 | €257,895 | €219,008 | -€38,887 | -15.1% |
| Financial income | 75/76B | €2,603 | €7,744 | +€5,141 | +197% |
| Recurring financial income | 75 | €2,603 | €7,744 | +€5,141 | +197% |
| Financial charges | 65/66B | €159,251 | €127,516 | -€31,735 | -19.9% |
| Recurring financial charges | 65 | €159,251 | €127,516 | -€31,735 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €101,247 | €99,235 | -€2,012 | -2.0% |
| Income taxes | 67/77 | €20,000 | €11,641 | -€8,359 | -41.8% |
| Profit (loss) for the period | 9904 | €81,247 | €87,595 | +€6,347 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €81,247 | €87,595 | +€6,347 | +7.8% |
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 15 October 2026 via checked.be.