A C H 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.
What changed
A C H CONSTRUCT
NACE 41.001, General construction of residential buildings
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2.5m
2024 · €106,220-€2.6m
Equity
€1.3m
2024 · €3.7m-€2.5m
Cash
€336,152
2024 · €582,690-€246,539
Balance sheet total
€12.2m
2024 · €14.5m-€2.2m
Largest movements
Assets
- Receivables within one year -€3.0m
down €3.0m (-26.4%), from €11.3m to €8.3m
of which Trade receivables: -€2.5m
- Stocks and contracts +€985,029
up €985,029 (+257.6%), from €382,346 to €1.4m
of which Stocks: +€985,029
- Cash -€246,539
down €246,539 (-42.3%), from €582,690 to €336,152
mainly Net result for the year (-€2.5m) and Trade debts (-€1.8m)
Equity and liabilities
- Profit (loss) carried forward -€2.5m
down €2.5m (-301.2%), from -€819,483 to -€3.3m
- Short-term financial debts +€2.0m
new in 2025: €2.0m
- Trade debts -€1.8m
down €1.8m (-21.6%), from €8.2m to €6.5m
Income statement
- Turnover -€6.4m
down €6.4m (-18.9%), from €33.8m to €27.4m
- Goods and materials -€3.4m
down €3.4m (-12.5%), from €27.6m to €24.1m
of which Purchases: -€2.6m
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
€106,220
Turnover
-€6.4m
Other operating income
-€18,423
Goods and materials
+€3.4m
Services and other goods
+€201,638
Staff costs
-€21,829
Depreciation
+€1,652
Other operating charges
-€1,716
Other operating items
+€243,135
Financial income
-€51,466
Financial charges
+€29,876
Taxes
-€1,004
Result 2025
-€2.5m
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
-€2.2m
Investment
-€500
Financing
+€2.0m
Cash 2024
€582,690
From operations (derived)
-€2.2m
Net result for the year
-€2.5m
Depreciation
+€515
Stocks and contracts
-€985,029
Receivables within one year
+€3.0m
Smaller working-capital items
-€9,334
Trade debts
-€1.8m
Tax, wage and social debts
+€77,083
Investment (derived)
-€500
Investment in fixed assets (net)
-€500
Financing
+€2.0m
Short-term financial debts
+€2.0m
Cash 2025
€336,152
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,453,790 | €12,228,489 | -€2.2m | -15.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,237,066 | €2,237,051 | -€15 | 0.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €515 | €0 | -€515 | -100.0% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €515 | €0 | -€515 | -100.0% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Financial fixed assets | 28 | €2,236,551 | €2,237,051 | +€500 | 0.0% |
| Affiliated companies | 280/1 | €1,691,334 | €1,691,334 | = | 0.0% |
| Amounts receivable | 281 | €1,691,334 | €1,691,334 | = | 0.0% |
| Other financial fixed assets | 284/8 | €545,217 | €545,717 | +€500 | +0.1% |
| Shares | 284 | €48,078 | €48,078 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €497,139 | €497,639 | +€500 | +0.1% |
| Current assets | 29/58 | €12,216,724 | €9,991,438 | -€2.2m | -18.2% |
| Stocks and contracts in progress | 3 | €382,346 | €1,367,375 | +€985,029 | +257.6% |
| Stocks | 30/36 | €382,346 | €1,367,375 | +€985,029 | +257.6% |
| Raw materials and consumables | 30/31 | €360,346 | €1,115,290 | +€754,944 | +209.5% |
| Property held for sale | 35 | €22,000 | €252,085 | +€230,085 | +1045.8% |
| Contracts in progress | 37 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €11,251,688 | €8,281,533 | -€3.0m | -26.4% |
| Trade receivables | 40 | €9,766,435 | €7,273,917 | -€2.5m | -25.5% |
| Other amounts receivable | 41 | €1,485,253 | €1,007,616 | -€477,638 | -32.2% |
| Cash at bank and in hand | 54/58 | €582,690 | €336,152 | -€246,539 | -42.3% |
| Deferred charges and accrued income | 490/1 | - | €6,379 | +€6,379 | |
| Total equity and liabilities | 10/49 | €14,453,790 | €12,228,489 | -€2.2m | -15.4% |
| Equity | 10/15 | €3,721,730 | €1,253,356 | -€2.5m | -66.3% |
| Contributions | 10/11 | €2,975,150 | €2,975,150 | = | 0.0% |
| Capital | 10 | €2,081,870 | €2,081,870 | = | 0.0% |
| Issued capital | 100 | €2,081,870 | €2,081,870 | = | 0.0% |
| Outside capital | 11 | €893,280 | €893,280 | = | 0.0% |
| Share premium | 1100/10 | €893,280 | €893,280 | = | 0.0% |
| Reserves | 13 | €1,566,062 | €1,566,062 | = | 0.0% |
| Non-distributable reserves | 130/1 | €563,958 | €563,958 | = | 0.0% |
| Legal reserve | 130 | €99,157 | €99,157 | = | 0.0% |
| Reserves not available under the articles | 1311 | €464,800 | €464,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €666,429 | €666,429 | = | 0.0% |
| Distributable reserves | 133 | €335,675 | €335,675 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€819,483 | -€3,287,856 | -€2.5m | -301.2% |
| Amounts payable | 17/49 | €10,732,061 | €10,975,133 | +€243,072 | +2.3% |
| Amounts payable after more than one year | 17 | €1,850,000 | €1,850,000 | = | 0.0% |
| Financial debts | 170/4 | €1,850,000 | €1,850,000 | = | 0.0% |
| Subordinated loans | 170 | €1,850,000 | €1,850,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €8,872,469 | €9,118,496 | +€246,027 | +2.8% |
| Financial debts | 43 | - | €1,950,000 | +€2.0m | |
| Credit institutions | 430/8 | - | €1,950,000 | +€2.0m | |
| Trade debts | 44 | €8,245,211 | €6,464,155 | -€1.8m | -21.6% |
| Suppliers | 440/4 | €8,245,211 | €6,464,155 | -€1.8m | -21.6% |
| Advances received on contracts in progress | 46 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €627,258 | €704,342 | +€77,083 | +12.3% |
| Taxes | 450/3 | €99,479 | €244,362 | +€144,883 | +145.6% |
| Remuneration and social security | 454/9 | €527,780 | €459,980 | -€67,800 | -12.8% |
| Accrued charges and deferred income | 492/3 | €9,592 | €6,636 | -€2,955 | -30.8% |
| Operating income | 70/76A | €34,086,114 | €27,664,894 | -€6.4m | -18.8% |
| Turnover | 70 | €33,800,074 | €27,397,276 | -€6.4m | -18.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €0 | €0 | = | |
| Other operating income | 74 | €286,041 | €267,618 | -€18,423 | -6.4% |
| Operating charges | 60/66A | €33,910,058 | €30,040,838 | -€3.9m | -11.4% |
| Goods for resale, raw materials and consumables | 60 | €27,564,552 | €24,118,213 | -€3.4m | -12.5% |
| Purchases | 600/8 | €27,453,341 | €24,873,157 | -€2.6m | -9.4% |
| Change in stocks: decrease (increase) | 609 | €111,212 | -€754,944 | -€866,156 | |
| Services and other goods | 61 | €1,709,820 | €1,508,181 | -€201,638 | -11.8% |
| Remuneration, social security and pensions | 62 | €4,378,963 | €4,400,792 | +€21,829 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,167 | €515 | -€1,652 | -76.2% |
| Other operating charges | 640/8 | €11,421 | €13,137 | +€1,716 | +15.0% |
| Non-recurring operating charges | 66A | €243,135 | - | -€243,135 | |
| Operating profit (loss) | 9901 | €176,056 | -€2,375,944 | -€2.6m | |
| Financial income | 75/76B | €59,938 | €8,473 | -€51,466 | -85.9% |
| Recurring financial income | 75 | €59,938 | €8,473 | -€51,466 | -85.9% |
| Income from current assets | 751 | €49,839 | €7,079 | -€42,760 | -85.8% |
| Other financial income | 752/9 | €10,100 | €1,394 | -€8,706 | -86.2% |
| Financial charges | 65/66B | €123,864 | €93,988 | -€29,876 | -24.1% |
| Recurring financial charges | 65 | €123,864 | €93,988 | -€29,876 | -24.1% |
| Debt charges | 650 | €116,565 | €84,084 | -€32,481 | -27.9% |
| Other financial charges | 652/9 | €7,300 | €9,904 | +€2,604 | +35.7% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €112,130 | -€2,461,459 | -€2.6m | |
| Income taxes | 67/77 | €5,910 | €6,914 | +€1,004 | +17.0% |
| Taxes | 670/3 | €5,910 | €6,914 | +€1,004 | +17.0% |
| Profit (loss) for the period | 9904 | €106,220 | -€2,468,373 | -€2.6m | |
| Profit (loss) for the period to be appropriated | 9905 | €106,220 | -€2,468,373 | -€2.6m |
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 28 September 2026 via checked.be.