A&D Construct: 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.
A&D Construct
Largest movements
- Receivables within one year +€69,421
up €69,421 (+245%), from €28,333 to €97,754
of which Trade receivables: +€62,590
- Cash -€10,892
down €10,892 (-64.9%), from €16,772 to €5,880
mainly Receivables within one year (-€69,421) and Net result for the year (-€7,219)
- Tangible fixed assets -€1,683
down €1,683 (-41.8%), from €4,024 to €2,341
of which Plant, machinery and equipment: -€950
- Trade debts +€59,688
up €59,688 (+369%), from €16,189 to €75,877
- Reserves -€7,219
down €7,219 (-33.2%), from €21,765 to €14,546
- Tax, wage and social debts +€6,968
up €6,968 (+68.9%), from €10,110 to €17,077
of which Remuneration and social security: +€6,225
- Current portion of long-term debt -€3,530
no longer reported in 2025 (was €3,530)
- Gross operating margin -€44,456
down €44,456, from €43,197 to -€1,259
- Taxes -€9,173
down €9,173 (-97.7%), from €9,388 to €215
- Depreciation -€4,554
down €4,554 (-73.0%), from €6,238 to €1,683
- Financial charges -€877
down €877 (-40.8%), from €2,150 to €1,273
- Staff costs +€528
up €528 (+266%), from €199 to €727
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 | €54,094 | €110,001 | +€55,907 | +103% |
| Fixed assets | 21/28 | €4,397 | €2,714 | -€1,683 | -38.3% |
| Tangible fixed assets | 22/27 | €4,024 | €2,341 | -€1,683 | -41.8% |
| Plant, machinery and equipment | 23 | €2,134 | €1,184 | -€950 | -44.5% |
| Furniture and vehicles | 24 | €1,890 | €1,157 | -€733 | -38.8% |
| Financial fixed assets | 28 | €373 | €373 | = | 0.0% |
| Current assets | 29/58 | €49,697 | €107,288 | +€57,591 | +116% |
| Amounts receivable within one year | 40/41 | €28,333 | €97,754 | +€69,421 | +245% |
| Trade receivables | 40 | €20,388 | €82,978 | +€62,590 | +307% |
| Other amounts receivable | 41 | €7,946 | €14,776 | +€6,831 | +86.0% |
| Cash at bank and in hand | 54/58 | €16,772 | €5,880 | -€10,892 | -64.9% |
| Deferred charges and accrued income | 490/1 | €4,592 | €3,654 | -€938 | -20.4% |
| Total equity and liabilities | 10/49 | €54,094 | €110,001 | +€55,907 | +103% |
| Equity | 10/15 | €24,265 | €17,046 | -€7,219 | -29.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €21,765 | €14,546 | -€7,219 | -33.2% |
| Distributable reserves | 133 | €21,765 | €14,546 | -€7,219 | -33.2% |
| Amounts payable | 17/49 | €29,829 | €92,955 | +€63,126 | +212% |
| Amounts payable within one year | 42/48 | €29,829 | €92,955 | +€63,126 | +212% |
| Current portion of amounts payable after more than one year | 42 | €3,530 | - | -€3,530 | |
| Trade debts | 44 | €16,189 | €75,877 | +€59,688 | +369% |
| Suppliers | 440/4 | €16,189 | €75,877 | +€59,688 | +369% |
| Taxes, remuneration and social security | 45 | €10,110 | €17,077 | +€6,968 | +68.9% |
| Taxes | 450/3 | €10,110 | €10,852 | +€743 | +7.3% |
| Remuneration and social security | 454/9 | - | €6,225 | +€6,225 | |
| Remuneration, social security and pensions | 62 | €199 | €727 | +€528 | +266% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,238 | €1,683 | -€4,554 | -73.0% |
| Other operating charges | 640/8 | €2,027 | €2,545 | +€518 | +25.5% |
| Gross operating margin | 9900 | €43,197 | -€1,259 | -€44,456 | |
| Operating profit (loss) | 9901 | €34,734 | -€6,214 | -€40,948 | |
| Financial income | 75/76B | €331 | €484 | +€153 | +46.2% |
| Recurring financial income | 75 | €331 | €484 | +€153 | +46.2% |
| Financial charges | 65/66B | €2,150 | €1,273 | -€877 | -40.8% |
| Recurring financial charges | 65 | €2,150 | €1,273 | -€877 | -40.8% |
| Profit (loss) for the period before taxes | 9903 | €32,915 | -€7,004 | -€39,918 | |
| Income taxes | 67/77 | €9,388 | €215 | -€9,173 | -97.7% |
| Profit (loss) for the period | 9904 | €23,527 | -€7,219 | -€30,745 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,527 | -€7,219 | -€30,745 |
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 18 October 2026 via checked.be.