A9 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.
A9 CONSTRUCT
Largest movements
- Receivables within one year -€7,819
down €7,819 (-7.2%), from €109,258 to €101,439
of which Trade receivables: -€4,058
- Cash +€3,856
up €3,856 (+48624.0%), from €8 to €3,864
mainly Other debts (+€8,205) and Receivables within one year (+€7,819)
- Tangible fixed assets -€3,220
down €3,220 (-58.2%), from €5,531 to €2,311
- Trade debts -€15,574
down €15,574 (-85.9%), from €18,121 to €2,547
- Other debts +€8,205
up €8,205 (+7.5%), from €109,615 to €117,820
- Gross operating margin +€7,083
up €7,083 (+307.8%), from €2,301 to €9,384
- Other operating charges +€3,835
up €3,835 (+889.3%), from €431 to €4,266
- Financial charges -€3,675
down €3,675 (-76.0%), from €4,832 to €1,158
of which Non-recurring financial charges: -€4,264
- Taxes -€179
down €179 (-49.0%), from €366 to €187
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 | €116,323 | €109,249 | -€7,074 | -6.1% |
| Fixed assets | 21/28 | €5,531 | €2,311 | -€3,220 | -58.2% |
| Tangible fixed assets | 22/27 | €5,531 | €2,311 | -€3,220 | -58.2% |
| Furniture and vehicles | 24 | €5,531 | €2,311 | -€3,220 | -58.2% |
| Current assets | 29/58 | €110,792 | €106,937 | -€3,854 | -3.5% |
| Amounts receivable within one year | 40/41 | €109,258 | €101,439 | -€7,819 | -7.2% |
| Trade receivables | 40 | €27,796 | €23,738 | -€4,058 | -14.6% |
| Other amounts receivable | 41 | €81,462 | €77,701 | -€3,761 | -4.6% |
| Cash at bank and in hand | 54/58 | €8 | €3,864 | +€3,856 | +48624.0% |
| Deferred charges and accrued income | 490/1 | €1,526 | €1,635 | +€109 | +7.1% |
| Total equity and liabilities | 10/49 | €116,323 | €109,249 | -€7,074 | -6.1% |
| Equity | 10/15 | -€39,835 | -€38,781 | +€1,054 | +2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,435 | -€57,381 | +€1,054 | +1.8% |
| Amounts payable | 17/49 | €156,158 | €148,030 | -€8,128 | -5.2% |
| Amounts payable after more than one year | 17 | €27,122 | €27,122 | = | 0.0% |
| Financial debts | 170/4 | €27,122 | €27,122 | = | 0.0% |
| Amounts payable within one year | 42/48 | €129,036 | €120,907 | -€8,128 | -6.3% |
| Financial debts | 43 | €746 | - | -€746 | |
| Credit institutions | 430/8 | €746 | - | -€746 | |
| Trade debts | 44 | €18,121 | €2,547 | -€15,574 | -85.9% |
| Suppliers | 440/4 | €18,121 | €2,547 | -€15,574 | -85.9% |
| Taxes, remuneration and social security | 45 | €554 | €540 | -€14 | -2.5% |
| Taxes | 450/3 | €554 | €540 | -€14 | -2.5% |
| Other amounts payable | 47/48 | €109,615 | €117,820 | +€8,205 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,220 | €3,220 | = | 0.0% |
| Other operating charges | 640/8 | €431 | €4,266 | +€3,835 | +889.3% |
| Gross operating margin | 9900 | €2,301 | €9,384 | +€7,083 | +307.8% |
| Operating profit (loss) | 9901 | -€1,350 | €1,898 | +€3,248 | |
| Financial income | 75/76B | €461 | €500 | +€39 | +8.4% |
| Recurring financial income | 75 | €461 | €500 | +€39 | +8.4% |
| Financial charges | 65/66B | €4,832 | €1,158 | -€3,675 | -76.0% |
| Recurring financial charges | 65 | €568 | €1,158 | +€589 | +103.7% |
| Non-recurring financial charges | 66B | €4,264 | - | -€4,264 | |
| Profit (loss) for the period before taxes | 9903 | -€5,721 | €1,241 | +€6,961 | |
| Income taxes | 67/77 | €366 | €187 | -€179 | -49.0% |
| Profit (loss) for the period | 9904 | -€6,087 | €1,054 | +€7,141 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,087 | €1,054 | +€7,141 |
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 30 September 2026 via checked.be.