URBAN DEVELOPMENT: 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
URBAN DEVELOPMENT
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€61,815
2024 · €49,079+€12,736
Equity
€5.2m
2024 · €5.1m+€61,815
Cash
€57,494
2024 · €538,857-€481,362
Balance sheet total
€17.9m
2024 · €16.3m+€1.6m
Largest movements
Assets
- Stocks and contracts +€2.2m
up €2.2m (+14.4%), from €15.3m to €17.5m
- Cash -€481,362
down €481,362 (-89.3%), from €538,857 to €57,494
mainly Stocks and contracts (-€2.2m) and Trade debts (-€1.9m)
Equity and liabilities
- Debts after one year +€3.4m
up €3.4m (+93.7%), from €3.6m to €6.9m
- Trade debts -€1.9m
down €1.9m (-51.8%), from €3.7m to €1.8m
- Short-term financial debts +€1.5m
new in 2025: €1.5m
- Other debts -€1.2m
down €1.2m (-33.7%), from €3.7m to €2.5m
Income statement
- Turnover +€8.3m
up €8.3m (+41.9%), from €19.7m to €28.0m
- Goods and materials -€526,304
down €526,304 (-10.2%), from €5.1m to €4.6m
of which Purchases: -€5.6m
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
€49,079
Turnover
+€8.3m
Other operating income
+€17,151
Goods and materials
+€526,304
Services and other goods
-€87,740
Other operating charges
-€5,795
Other operating items
-€8.5m
Financial income
-€522
Financial charges
-€213,973
Taxes
-€6,098
Result 2025
€61,815
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
-€5.3m
Investment
€0
Financing
+€4.9m
Cash 2024
€538,857
From operations (derived)
-€5.3m
Net result for the year
+€61,815
Stocks and contracts
-€2.2m
Receivables within one year
+€119,467
Deferred charges and accrued income
+€22,168
Trade debts
-€1.9m
Tax, wage and social debts
-€36,918
Other debts
-€1.2m
Accrued charges and deferred income
-€140,559
Financing
+€4.9m
Debts after one year
+€3.4m
Short-term financial debts
+€1.5m
Cash 2025
€57,494
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,338,962 | €17,927,497 | +€1.6m | +9.7% |
| Current assets | 29/58 | €16,338,962 | €17,927,497 | +€1.6m | +9.7% |
| Stocks and contracts in progress | 3 | €15,330,634 | €17,542,167 | +€2.2m | +14.4% |
| Stocks | 30/36 | €15,330,634 | €17,542,167 | +€2.2m | +14.4% |
| Property held for sale | 35 | €15,330,634 | €17,542,167 | +€2.2m | +14.4% |
| Amounts receivable within one year | 40/41 | €399,035 | €279,568 | -€119,467 | -29.9% |
| Trade receivables | 40 | €143,657 | €38,362 | -€105,295 | -73.3% |
| Other amounts receivable | 41 | €255,378 | €241,206 | -€14,172 | -5.5% |
| Cash at bank and in hand | 54/58 | €538,857 | €57,494 | -€481,362 | -89.3% |
| Deferred charges and accrued income | 490/1 | €70,436 | €48,268 | -€22,168 | -31.5% |
| Total equity and liabilities | 10/49 | €16,338,962 | €17,927,497 | +€1.6m | +9.7% |
| Equity | 10/15 | €5,140,936 | €5,202,751 | +€61,815 | +1.2% |
| Contributions | 10/11 | €3,850,000 | €3,850,000 | = | 0.0% |
| Capital | 10 | €3,850,000 | €3,850,000 | = | 0.0% |
| Issued capital | 100 | €4,900,000 | €4,900,000 | = | 0.0% |
| Uncalled capital | 101 | €1,050,000 | €1,050,000 | = | 0.0% |
| Reserves | 13 | €67,788 | €70,879 | +€3,091 | +4.6% |
| Non-distributable reserves | 130/1 | €67,788 | €70,879 | +€3,091 | +4.6% |
| Legal reserve | 130 | €67,788 | €70,879 | +€3,091 | +4.6% |
| Profit (loss) carried forward | 14 | €1,223,147 | €1,281,872 | +€58,724 | +4.8% |
| Amounts payable | 17/49 | €11,198,027 | €12,724,747 | +€1.5m | +13.6% |
| Amounts payable after more than one year | 17 | €3,581,566 | €6,937,843 | +€3.4m | +93.7% |
| Financial debts | 170/4 | €3,581,566 | €6,937,843 | +€3.4m | +93.7% |
| Credit institutions | 173 | €3,581,566 | €6,937,843 | +€3.4m | +93.7% |
| Amounts payable within one year | 42/48 | €7,438,998 | €5,749,999 | -€1.7m | -22.7% |
| Financial debts | 43 | - | €1,500,000 | +€1.5m | |
| Other loans | 439 | - | €1,500,000 | +€1.5m | |
| Trade debts | 44 | €3,676,349 | €1,771,067 | -€1.9m | -51.8% |
| Suppliers | 440/4 | €3,676,349 | €1,771,067 | -€1.9m | -51.8% |
| Taxes, remuneration and social security | 45 | €58,889 | €21,971 | -€36,918 | -62.7% |
| Taxes | 450/3 | €58,889 | €21,971 | -€36,918 | -62.7% |
| Other amounts payable | 47/48 | €3,703,759 | €2,456,962 | -€1.2m | -33.7% |
| Accrued charges and deferred income | 492/3 | €177,463 | €36,904 | -€140,559 | -79.2% |
| Operating income | 70/76A | €6,120,607 | €5,921,165 | -€199,442 | -3.3% |
| Turnover | 70 | €19,710,886 | €27,962,762 | +€8.3m | +41.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€13,594,270 | -€22,062,739 | -€8.5m | -62.3% |
| Other operating income | 74 | €3,991 | €21,142 | +€17,151 | +429.8% |
| Operating charges | 60/66A | €5,728,870 | €5,296,100 | -€432,769 | -7.6% |
| Goods for resale, raw materials and consumables | 60 | €5,149,307 | €4,623,003 | -€526,304 | -10.2% |
| Purchases | 600/8 | €12,403,520 | €6,834,535 | -€5.6m | -44.9% |
| Change in stocks: decrease (increase) | 609 | -€7,254,213 | -€2,211,533 | +€5.0m | +69.5% |
| Services and other goods | 61 | €578,064 | €665,803 | +€87,740 | +15.2% |
| Other operating charges | 640/8 | €1,499 | €7,294 | +€5,795 | +386.6% |
| Operating profit (loss) | 9901 | €391,737 | €625,065 | +€233,328 | +59.6% |
| Financial income | 75/76B | €3,098 | €2,577 | -€522 | -16.8% |
| Recurring financial income | 75 | €3,098 | €2,577 | -€522 | -16.8% |
| Income from current assets | 751 | €3,098 | €1,621 | -€1,477 | -47.7% |
| Other financial income | 752/9 | €0 | €955 | +€955 | +382052.0% |
| Financial charges | 65/66B | €329,397 | €543,369 | +€213,973 | +65.0% |
| Recurring financial charges | 65 | €329,397 | €543,369 | +€213,973 | +65.0% |
| Debt charges | 650 | €324,770 | €534,602 | +€209,832 | +64.6% |
| Other financial charges | 652/9 | €4,627 | €8,767 | +€4,141 | +89.5% |
| Profit (loss) for the period before taxes | 9903 | €65,439 | €84,272 | +€18,833 | +28.8% |
| Income taxes | 67/77 | €16,360 | €22,457 | +€6,098 | +37.3% |
| Taxes | 670/3 | €16,360 | €22,457 | +€6,098 | +37.3% |
| Profit (loss) for the period | 9904 | €49,079 | €61,815 | +€12,736 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €49,079 | €61,815 | +€12,736 | +25.9% |
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 5 October 2026 via checked.be.