3 KEYS CONSTRUCT: 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.
3 KEYS CONSTRUCT
Largest movements
- Stocks and contracts +€2.3m
up €2.3m (+159.2%), from €1.4m to €3.7m
- Cash +€67,975
up €67,975 (+116.6%), from €58,305 to €126,279
mainly Short-term financial debts (+€3.2m) and Trade debts (+€136,594)
- Deferred charges and accrued income +€45,378
up €45,378 (+124.0%), from €36,607 to €81,985
- Receivables within one year +€43,847
up €43,847 (+629.3%), from €6,968 to €50,815
of which Trade receivables: +€50,287
- Short-term financial debts +€3.2m
new in 2025: €3.2m
- Other debts -€662,024
down €662,024 (-54.4%), from €1.2m to €555,738
- Profit (loss) carried forward -€301,386
down €301,386 (-219.6%), from -€137,254 to -€438,640
- Trade debts +€136,594
up €136,594 (+34.3%), from €398,561 to €535,156
- Accrued charges and deferred income +€56,396
up €56,396 (+130154.2%), from €43 to €56,439
- Gross operating margin -€214,592
down €214,592 (-346.1%), from -€61,995 to -€276,587
- Financial charges +€87,637
up €87,637 (+462.2%), from €18,961 to €106,598
- Financial income +€73,775
up €73,775 (+824.5%), from €8,948 to €82,723
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,542,112 | €3,991,603 | +€2.4m | +158.8% |
| Current assets | 29/58 | €1,542,112 | €3,991,603 | +€2.4m | +158.8% |
| Stocks and contracts in progress | 3 | €1,440,233 | €3,732,525 | +€2.3m | +159.2% |
| Contracts in progress | 37 | €1,440,233 | €3,732,525 | +€2.3m | +159.2% |
| Amounts receivable within one year | 40/41 | €6,968 | €50,815 | +€43,847 | +629.3% |
| Trade receivables | 40 | €0 | €50,287 | +€50,287 | |
| Other amounts receivable | 41 | €6,968 | €528 | -€6,440 | -92.4% |
| Cash at bank and in hand | 54/58 | €58,305 | €126,279 | +€67,975 | +116.6% |
| Deferred charges and accrued income | 490/1 | €36,607 | €81,985 | +€45,378 | +124.0% |
| Total equity and liabilities | 10/49 | €1,542,112 | €3,991,603 | +€2.4m | +158.8% |
| Equity | 10/15 | -€74,254 | -€375,640 | -€301,386 | -405.9% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€137,254 | -€438,640 | -€301,386 | -219.6% |
| Amounts payable | 17/49 | €1,616,366 | €4,367,243 | +€2.8m | +170.2% |
| Amounts payable within one year | 42/48 | €1,616,323 | €4,310,804 | +€2.7m | +166.7% |
| Financial debts | 43 | - | €3,186,068 | +€3.2m | |
| Credit institutions | 430/8 | - | €3,186,068 | +€3.2m | |
| Trade debts | 44 | €398,561 | €535,156 | +€136,594 | +34.3% |
| Suppliers | 440/4 | €398,561 | €535,156 | +€136,594 | +34.3% |
| Taxes, remuneration and social security | 45 | - | €33,842 | +€33,842 | |
| Taxes | 450/3 | - | €33,842 | +€33,842 | |
| Other amounts payable | 47/48 | €1,217,761 | €555,738 | -€662,024 | -54.4% |
| Accrued charges and deferred income | 492/3 | €43 | €56,439 | +€56,396 | +130154.2% |
| Other operating charges | 640/8 | €794 | €923 | +€129 | +16.3% |
| Gross operating margin | 9900 | -€61,995 | -€276,587 | -€214,592 | -346.1% |
| Operating profit (loss) | 9901 | -€62,789 | -€277,510 | -€214,721 | -342.0% |
| Financial income | 75/76B | €8,948 | €82,723 | +€73,775 | +824.5% |
| Recurring financial income | 75 | €8,948 | €82,723 | +€73,775 | +824.5% |
| Financial charges | 65/66B | €18,961 | €106,598 | +€87,637 | +462.2% |
| Recurring financial charges | 65 | €18,961 | €106,598 | +€87,637 | +462.2% |
| Profit (loss) for the period before taxes | 9903 | -€72,803 | -€301,386 | -€228,583 | -314.0% |
| Profit (loss) for the period | 9904 | -€72,803 | -€301,386 | -€228,583 | -314.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€72,803 | -€301,386 | -€228,583 | -314.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.