URBES PROJECTS: 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
URBES PROJECTS
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€483,037
2024 · €450,139+€32,898
Equity
€5.6m
2024 · €5.1m+€483,037
Cash
€1.1m
2024 · €1.3m-€165,270
Balance sheet total
€14.6m
2024 · €14.2m+€349,712
Largest movements
Assets
- Receivables within one year +€323,459
up €323,459 (+914.5%), from €35,369 to €358,828
of which Trade receivables: +€323,661
- Stocks and contracts +€219,519
up €219,519 (+1.7%), from €12.8m to €13.0m
- Cash -€165,270
down €165,270 (-12.8%), from €1.3m to €1.1m
mainly Receivables within one year (-€323,459) and Stocks and contracts (-€219,519)
Equity and liabilities
- Reserves +€483,037
up €483,037 (+13.7%), from €3.5m to €4.0m
of which Distributable reserves: +€483,037
Income statement
- Goods and materials +€1.1m
up €1.1m (+17.9%), from €6.0m to €7.0m
of which Change in stocks: decrease (increase): +€1.3m
- Turnover +€1.0m
up €1.0m (+14.9%), from €6.9m to €7.9m
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
€450,139
Turnover
+€1.0m
Other operating income
+€62,899
Goods and materials
-€1.1m
Services and other goods
-€37,287
Staff costs
+€63,333
Depreciation
-€6,954
Other operating charges
+€6,894
Other operating items
-€1,044
Financial income
-€8,626
Financial charges
-€1,316
Taxes
-€8,896
Result 2025
€483,037
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
-€178,768
Investment
-€2
Financing
+€13,500
Cash 2024
€1.3m
From operations (derived)
-€178,768
Net result for the year
+€483,037
Depreciation
+€21,228
Stocks and contracts
-€219,519
Receivables within one year
-€323,459
Deferred charges and accrued income
+€6,771
Trade debts
-€33,567
Tax, wage and social debts
+€70,815
Advances received
-€42,256
Other debts
-€144,616
Accrued charges and deferred income
+€2,799
Investment (derived)
-€2
Current investments
-€2
Financing
+€13,500
Debts after one year
-€46,688
Current portion of long-term debt
+€60,188
Cash 2025
€1.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,203,096 | €14,552,808 | +€349,712 | +2.5% |
| Fixed assets | 21/28 | €83,584 | €62,356 | -€21,228 | -25.4% |
| Intangible fixed assets | 21 | €26,529 | €20,494 | -€6,036 | -22.8% |
| Tangible fixed assets | 22/27 | €57,054 | €41,862 | -€15,192 | -26.6% |
| Plant, machinery and equipment | 23 | €699 | €389 | -€310 | -44.3% |
| Furniture and vehicles | 24 | €56,355 | €41,473 | -€14,882 | -26.4% |
| Current assets | 29/58 | €14,119,513 | €14,490,452 | +€370,940 | +2.6% |
| Stocks and contracts in progress | 3 | €12,780,789 | €13,000,308 | +€219,519 | +1.7% |
| Stocks | 30/36 | €12,780,789 | €13,000,308 | +€219,519 | +1.7% |
| Property held for sale | 35 | €12,780,789 | €13,000,308 | +€219,519 | +1.7% |
| Amounts receivable within one year | 40/41 | €35,369 | €358,828 | +€323,459 | +914.5% |
| Trade receivables | 40 | €35,011 | €358,673 | +€323,661 | +924.4% |
| Other amounts receivable | 41 | €358 | €155 | -€202 | -56.5% |
| Current investments | 50/53 | €852 | €854 | +€2 | +0.3% |
| Other investments | 51/53 | €852 | €854 | +€2 | +0.3% |
| Cash at bank and in hand | 54/58 | €1,293,318 | €1,128,048 | -€165,270 | -12.8% |
| Deferred charges and accrued income | 490/1 | €9,184 | €2,414 | -€6,771 | -73.7% |
| Total equity and liabilities | 10/49 | €14,203,096 | €14,552,808 | +€349,712 | +2.5% |
| Equity | 10/15 | €5,125,698 | €5,608,735 | +€483,037 | +9.4% |
| Contributions | 10/11 | €1,600,000 | €1,600,000 | = | 0.0% |
| Reserves | 13 | €3,525,698 | €4,008,735 | +€483,037 | +13.7% |
| Tax-exempt reserves | 132 | €273,650 | €273,650 | = | 0.0% |
| Distributable reserves | 133 | €3,252,048 | €3,735,085 | +€483,037 | +14.9% |
| Amounts payable | 17/49 | €9,077,398 | €8,944,073 | -€133,325 | -1.5% |
| Amounts payable after more than one year | 17 | €4,373,486 | €4,326,798 | -€46,688 | -1.1% |
| Financial debts | 170/4 | €4,373,486 | €4,326,798 | -€46,688 | -1.1% |
| Other loans | 174 | €4,373,486 | €4,326,798 | -€46,688 | -1.1% |
| Amounts payable within one year | 42/48 | €4,642,417 | €4,552,980 | -€89,436 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | - | €60,188 | +€60,188 | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €2,098,184 | €2,064,617 | -€33,567 | -1.6% |
| Suppliers | 440/4 | €2,098,184 | €2,064,617 | -€33,567 | -1.6% |
| Advances received on contracts in progress | 46 | €137,678 | €95,422 | -€42,256 | -30.7% |
| Taxes, remuneration and social security | 45 | €275,489 | €346,304 | +€70,815 | +25.7% |
| Taxes | 450/3 | €261,071 | €345,040 | +€83,969 | +32.2% |
| Remuneration and social security | 454/9 | €14,418 | €1,264 | -€13,154 | -91.2% |
| Other amounts payable | 47/48 | €2,131,066 | €1,986,450 | -€144,616 | -6.8% |
| Accrued charges and deferred income | 492/3 | €61,495 | €64,295 | +€2,799 | +4.6% |
| Operating income | 70/76A | €7,007,839 | €8,101,415 | +€1.1m | +15.6% |
| Turnover | 70 | €6,910,768 | €7,941,445 | +€1.0m | +14.9% |
| Other operating income | 74 | €97,071 | €159,970 | +€62,899 | +64.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €6,334,820 | €7,376,659 | +€1.0m | +16.4% |
| Goods for resale, raw materials and consumables | 60 | €5,963,385 | €7,030,166 | +€1.1m | +17.9% |
| Purchases | 600/8 | €7,445,430 | €7,249,685 | -€195,744 | -2.6% |
| Change in stocks: decrease (increase) | 609 | -€1,482,045 | -€219,519 | +€1.3m | +85.2% |
| Services and other goods | 61 | €184,175 | €221,462 | +€37,287 | +20.2% |
| Remuneration, social security and pensions | 62 | €162,604 | €99,271 | -€63,333 | -38.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,274 | €21,228 | +€6,954 | +48.7% |
| Other operating charges | 640/8 | €10,382 | €3,488 | -€6,894 | -66.4% |
| Non-recurring operating charges | 66A | €0 | €1,044 | +€1,044 | |
| Operating profit (loss) | 9901 | €673,019 | €724,756 | +€51,737 | +7.7% |
| Financial income | 75/76B | €31,768 | €23,142 | -€8,626 | -27.2% |
| Recurring financial income | 75 | €31,768 | €23,142 | -€8,626 | -27.2% |
| Income from current assets | 751 | €958 | €3 | -€955 | -99.6% |
| Other financial income | 752/9 | €30,810 | €23,138 | -€7,672 | -24.9% |
| Financial charges | 65/66B | €99,456 | €100,773 | +€1,316 | +1.3% |
| Recurring financial charges | 65 | €99,456 | €100,773 | +€1,316 | +1.3% |
| Debt charges | 650 | €77,438 | €77,891 | +€453 | +0.6% |
| Other financial charges | 652/9 | €22,018 | €22,882 | +€863 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | €605,331 | €647,125 | +€41,794 | +6.9% |
| Income taxes | 67/77 | €155,192 | €164,089 | +€8,896 | +5.7% |
| Taxes | 670/3 | €155,192 | €164,089 | +€8,896 | +5.7% |
| Profit (loss) for the period | 9904 | €450,139 | €483,037 | +€32,898 | +7.3% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €450,139 | €483,037 | +€32,898 | +7.3% |
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 6 October 2026 via checked.be.