WHITE-HOUSE CONSTRUCTION: 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.
WHITE-HOUSE CONSTRUCTION
Largest movements
- Cash +€229,829
up €229,829 (+85.4%), from €268,984 to €498,813
mainly Accrued charges and deferred income (+€282,843) and Depreciation (+€265,976)
- Stocks and contracts +€191,620
up €191,620 (+84.2%), from €227,451 to €419,071
- Tangible fixed assets -€71,698
down €71,698 (-6.0%), from €1.2m to €1.1m
of which Furniture and vehicles: -€151,504
- Receivables within one year +€25,156
up €25,156 (+7.8%), from €323,773 to €348,929
of which Trade receivables: +€38,946
- Accrued charges and deferred income +€282,843
new in 2025: €282,843
- Debts after one year -€125,413
down €125,413 (-25.6%), from €490,708 to €365,295
- Trade debts +€73,841
up €73,841 (+87.5%), from €84,346 to €158,187
- Tax, wage and social debts +€67,925
up €67,925 (+121%), from €56,364 to €124,288
of which Taxes: +€66,094
- Reserves +€48,683
up €48,683 (+11.5%), from €421,693 to €470,376
of which Distributable reserves: +€61,910
- Staff costs +€28,171
up €28,171 (+4.9%), from €576,013 to €604,184
- Taxes -€22,742
down €22,742 (-52.5%), from €43,322 to €20,579
- Gross operating margin -€18,682
down €18,682 (-1.9%), from €997,661 to €978,979
- Depreciation +€15,601
up €15,601 (+6.2%), from €250,374 to €265,976
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 | €2,058,098 | €2,427,005 | +€368,907 | +17.9% |
| Fixed assets | 21/28 | €1,198,265 | €1,126,567 | -€71,698 | -6.0% |
| Tangible fixed assets | 22/27 | €1,198,265 | €1,126,567 | -€71,698 | -6.0% |
| Land and buildings | 22 | €789,426 | €747,818 | -€41,608 | -5.3% |
| Plant, machinery and equipment | 23 | €114,700 | €236,113 | +€121,414 | +106% |
| Furniture and vehicles | 24 | €294,140 | €142,636 | -€151,504 | -51.5% |
| Current assets | 29/58 | €859,833 | €1,300,438 | +€440,605 | +51.2% |
| Amounts receivable after more than one year | 29 | €35,500 | €29,500 | -€6,000 | -16.9% |
| Other amounts receivable | 291 | €35,500 | €29,500 | -€6,000 | -16.9% |
| Stocks and contracts in progress | 3 | €227,451 | €419,071 | +€191,620 | +84.2% |
| Stocks | 30/36 | €227,451 | €419,071 | +€191,620 | +84.2% |
| Amounts receivable within one year | 40/41 | €323,773 | €348,929 | +€25,156 | +7.8% |
| Trade receivables | 40 | €205,472 | €244,418 | +€38,946 | +19.0% |
| Other amounts receivable | 41 | €118,301 | €104,511 | -€13,790 | -11.7% |
| Cash at bank and in hand | 54/58 | €268,984 | €498,813 | +€229,829 | +85.4% |
| Deferred charges and accrued income | 490/1 | €4,125 | €4,125 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,058,098 | €2,427,005 | +€368,907 | +17.9% |
| Equity | 10/15 | €1,104,461 | €1,153,878 | +€49,416 | +4.5% |
| Contributions | 10/11 | €230,000 | €230,000 | = | 0.0% |
| Reserves | 13 | €421,693 | €470,376 | +€48,683 | +11.5% |
| Tax-exempt reserves | 132 | €148,055 | €134,828 | -€13,227 | -8.9% |
| Distributable reserves | 133 | €273,638 | €335,548 | +€61,910 | +22.6% |
| Profit (loss) carried forward | 14 | €452,768 | €453,501 | +€733 | +0.2% |
| Provisions and deferred taxes | 16 | €3,307 | - | -€3,307 | |
| Deferred taxes | 168 | €3,307 | - | -€3,307 | |
| Amounts payable | 17/49 | €950,330 | €1,273,127 | +€322,797 | +34.0% |
| Amounts payable after more than one year | 17 | €490,708 | €365,295 | -€125,413 | -25.6% |
| Financial debts | 170/4 | €490,708 | €365,295 | -€125,413 | -25.6% |
| Amounts payable within one year | 42/48 | €459,622 | €624,989 | +€165,367 | +36.0% |
| Current portion of amounts payable after more than one year | 42 | €128,942 | €123,445 | -€5,497 | -4.3% |
| Trade debts | 44 | €84,346 | €158,187 | +€73,841 | +87.5% |
| Suppliers | 440/4 | €84,346 | €158,187 | +€73,841 | +87.5% |
| Taxes, remuneration and social security | 45 | €56,364 | €124,288 | +€67,925 | +121% |
| Taxes | 450/3 | €23,907 | €90,001 | +€66,094 | +276% |
| Remuneration and social security | 454/9 | €32,457 | €34,287 | +€1,830 | +5.6% |
| Other amounts payable | 47/48 | €189,971 | €219,068 | +€29,098 | +15.3% |
| Accrued charges and deferred income | 492/3 | - | €282,843 | +€282,843 | |
| Remuneration, social security and pensions | 62 | €576,013 | €604,184 | +€28,171 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €250,374 | €265,976 | +€15,601 | +6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €36 | - | -€36 | |
| Other operating charges | 640/8 | €18,364 | €23,111 | +€4,747 | +25.8% |
| Gross operating margin | 9900 | €997,661 | €978,979 | -€18,682 | -1.9% |
| Operating profit (loss) | 9901 | €152,873 | €85,708 | -€67,165 | -43.9% |
| Financial income | 75/76B | €1 | €2 | +€1 | +45.5% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +45.5% |
| Financial charges | 65/66B | €23,907 | €19,021 | -€4,886 | -20.4% |
| Recurring financial charges | 65 | €23,907 | €19,021 | -€4,886 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €128,968 | €66,689 | -€62,279 | -48.3% |
| Transfer from deferred taxes | 780 | €1,475 | €709 | -€766 | -51.9% |
| Income taxes | 67/77 | €43,322 | €20,579 | -€22,742 | -52.5% |
| Profit (loss) for the period | 9904 | €87,120 | €46,818 | -€40,302 | -46.3% |
| Transfer from tax-exempt reserves | 789 | €5,898 | €2,915 | -€2,983 | -50.6% |
| Profit (loss) for the period to be appropriated | 9905 | €93,018 | €49,733 | -€43,285 | -46.5% |
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 27 October 2026 via checked.be.