A.S. 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.
A.S. Construct
Largest movements
- Cash +€332,546
up €332,546 (+15.7%), from €2.1m to €2.4m
mainly Net result for the year (+€926,186) and Stocks and contracts (+€218,282)
- Stocks and contracts -€218,282
down €218,282 (-39.0%), from €559,352 to €341,070
- Current investments -€100,637
no longer reported in 2025 (was €100,637)
- Tangible fixed assets -€89,707
down €89,707 (-23.2%), from €387,446 to €297,739
- Profit (loss) carried forward +€926,186
new in 2025: €926,186
- Advances received -€424,657
no longer reported in 2025 (was €424,657)
- Trade debts -€378,734
down €378,734 (-39.2%), from €966,095 to €587,360
- Debts after one year -€66,830
down €66,830 (-40.4%), from €165,269 to €98,439
- Tax, wage and social debts -€44,811
down €44,811 (-29.2%), from €153,407 to €108,596
of which Taxes: -€98,774
- Staff costs +€205,896
up €205,896 (+20.7%), from €996,079 to €1.2m
- Taxes -€95,697
down €95,697 (-22.2%), from €430,881 to €335,184
- Gross operating margin -€91,326
down €91,326 (-3.5%), from €2.6m to €2.5m
- Financial income +€36,044
up €36,044 (+113.0%), from €31,891 to €67,936
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 | €3,628,154 | €3,560,437 | -€67,717 | -1.9% |
| Fixed assets | 21/28 | €387,806 | €298,099 | -€89,707 | -23.1% |
| Tangible fixed assets | 22/27 | €387,446 | €297,739 | -€89,707 | -23.2% |
| Land and buildings | 22 | €208,051 | €183,478 | -€24,574 | -11.8% |
| Plant, machinery and equipment | 23 | €119,552 | €91,512 | -€28,040 | -23.5% |
| Furniture and vehicles | 24 | €59,843 | €22,750 | -€37,093 | -62.0% |
| Financial fixed assets | 28 | €359 | €359 | = | 0.0% |
| Current assets | 29/58 | €3,240,349 | €3,262,338 | +€21,990 | +0.7% |
| Stocks and contracts in progress | 3 | €559,352 | €341,070 | -€218,282 | -39.0% |
| Stocks | 30/36 | €559,352 | €341,070 | -€218,282 | -39.0% |
| Amounts receivable within one year | 40/41 | €445,507 | €455,211 | +€9,704 | +2.2% |
| Trade receivables | 40 | €445,507 | €438,423 | -€7,084 | -1.6% |
| Other amounts receivable | 41 | - | €16,788 | +€16,788 | |
| Current investments | 50/53 | €100,637 | - | -€100,637 | |
| Cash at bank and in hand | 54/58 | €2,111,471 | €2,444,016 | +€332,546 | +15.7% |
| Deferred charges and accrued income | 490/1 | €23,382 | €22,041 | -€1,341 | -5.7% |
| Total equity and liabilities | 10/49 | €3,628,154 | €3,560,437 | -€67,717 | -1.9% |
| Equity | 10/15 | €1,819,997 | €2,709,147 | +€889,150 | +48.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,807,597 | €1,770,561 | -€37,036 | -2.0% |
| Non-distributable reserves | 130/1 | €7,124 | €7,124 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,124 | €7,124 | = | 0.0% |
| Distributable reserves | 133 | €1,800,473 | €1,763,437 | -€37,036 | -2.1% |
| Profit (loss) carried forward | 14 | - | €926,186 | +€926,186 | |
| Amounts payable | 17/49 | €1,808,157 | €851,290 | -€956,868 | -52.9% |
| Amounts payable after more than one year | 17 | €165,269 | €98,439 | -€66,830 | -40.4% |
| Financial debts | 170/4 | €165,269 | €98,439 | -€66,830 | -40.4% |
| Amounts payable within one year | 42/48 | €1,642,888 | €752,851 | -€890,037 | -54.2% |
| Current portion of amounts payable after more than one year | 42 | €80,930 | €56,895 | -€24,034 | -29.7% |
| Trade debts | 44 | €966,095 | €587,360 | -€378,734 | -39.2% |
| Suppliers | 440/4 | €966,095 | €587,360 | -€378,734 | -39.2% |
| Advances received on contracts in progress | 46 | €424,657 | - | -€424,657 | |
| Taxes, remuneration and social security | 45 | €153,407 | €108,596 | -€44,811 | -29.2% |
| Taxes | 450/3 | €109,425 | €10,650 | -€98,774 | -90.3% |
| Remuneration and social security | 454/9 | €43,982 | €97,945 | +€53,963 | +122.7% |
| Other amounts payable | 47/48 | €17,801 | - | -€17,801 | |
| Non-recurring operating income | 76A | €4,033 | €8,514 | +€4,482 | +111.1% |
| Remuneration, social security and pensions | 62 | €996,079 | €1,201,974 | +€205,896 | +20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,868 | €77,791 | -€17,077 | -18.0% |
| Other operating charges | 640/8 | €13,409 | €18,389 | +€4,980 | +37.1% |
| Non-recurring operating charges | 66A | €9,097 | €16,382 | +€7,285 | +80.1% |
| Gross operating margin | 9900 | €2,618,140 | €2,526,814 | -€91,326 | -3.5% |
| Operating profit (loss) | 9901 | €1,504,686 | €1,212,277 | -€292,409 | -19.4% |
| Financial income | 75/76B | €31,891 | €67,936 | +€36,044 | +113.0% |
| Recurring financial income | 75 | €31,891 | €67,936 | +€36,044 | +113.0% |
| Financial charges | 65/66B | €33,575 | €18,842 | -€14,733 | -43.9% |
| Recurring financial charges | 65 | €33,043 | €18,842 | -€14,201 | -43.0% |
| Non-recurring financial charges | 66B | €532 | - | -€532 | |
| Profit (loss) for the period before taxes | 9903 | €1,503,002 | €1,261,370 | -€241,632 | -16.1% |
| Income taxes | 67/77 | €430,881 | €335,184 | -€95,697 | -22.2% |
| Profit (loss) for the period | 9904 | €1,072,122 | €926,186 | -€145,935 | -13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,072,122 | €926,186 | -€145,935 | -13.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.