Administration & Construction Services: 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.
Administration & Construction Services
Largest movements
- Receivables within one year +€509,728
up €509,728 (+659%), from €77,391 to €587,119
of which Trade receivables: +€483,000
- Receivables after one year -€102,000
down €102,000 (-68.0%), from €150,000 to €48,000
- Stocks and contracts -€15,653
down €15,653 (-31.2%), from €50,174 to €34,521
- Cash -€12,941
down €12,941 (-36.7%), from €35,276 to €22,335
mainly Receivables within one year (-€509,728) and Net result for the year (-€64,274)
- Short-term financial debts +€202,867
up €202,867 (+1,323%), from €15,333 to €218,200
- Trade debts +€174,829
up €174,829 (+2,005%), from €8,718 to €183,547
- Profit (loss) carried forward -€64,274
down €64,274 (-46.3%), from -€138,905 to -€203,179
- Debts after one year +€50,000
up €50,000 (+14.3%), from €350,000 to €400,000
- Other debts +€24,278
up €24,278 (+1,492%), from €1,627 to €25,905
- Gross operating margin +€58,680
up €58,680 (+56.1%), from -€104,594 to -€45,914
- Financial charges -€17,878
down €17,878 (-57.3%), from €31,215 to €13,338
- Other operating charges +€1,404
up €1,404 (+247%), from €569 to €1,973
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 | €319,762 | €697,316 | +€377,554 | +118% |
| Fixed assets | 21/28 | €3,048 | €0 | -€3,048 | -100% |
| Tangible fixed assets | 22/27 | €3,048 | €0 | -€3,048 | -100% |
| Furniture and vehicles | 24 | €3,048 | €0 | -€3,048 | -100% |
| Current assets | 29/58 | €316,714 | €697,316 | +€380,602 | +120% |
| Amounts receivable after more than one year | 29 | €150,000 | €48,000 | -€102,000 | -68.0% |
| Other amounts receivable | 291 | €150,000 | €48,000 | -€102,000 | -68.0% |
| Stocks and contracts in progress | 3 | €50,174 | €34,521 | -€15,653 | -31.2% |
| Stocks | 30/36 | €50,174 | €34,521 | -€15,653 | -31.2% |
| Amounts receivable within one year | 40/41 | €77,391 | €587,119 | +€509,728 | +659% |
| Trade receivables | 40 | €55,063 | €538,063 | +€483,000 | +877% |
| Other amounts receivable | 41 | €22,328 | €49,056 | +€26,728 | +120% |
| Cash at bank and in hand | 54/58 | €35,276 | €22,335 | -€12,941 | -36.7% |
| Deferred charges and accrued income | 490/1 | €3,873 | €5,341 | +€1,468 | +37.9% |
| Total equity and liabilities | 10/49 | €319,762 | €697,316 | +€377,554 | +118% |
| Equity | 10/15 | -€70,158 | -€134,432 | -€64,274 | -91.6% |
| Contributions | 10/11 | €50,150 | €50,150 | = | 0.0% |
| Reserves | 13 | €18,597 | €18,597 | = | 0.0% |
| Distributable reserves | 133 | €18,597 | €18,597 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€138,905 | -€203,179 | -€64,274 | -46.3% |
| Amounts payable | 17/49 | €389,920 | €831,748 | +€441,828 | +113% |
| Amounts payable after more than one year | 17 | €350,000 | €400,000 | +€50,000 | +14.3% |
| Financial debts | 170/4 | €350,000 | €400,000 | +€50,000 | +14.3% |
| Amounts payable within one year | 42/48 | €37,824 | €427,652 | +€389,828 | +1,031% |
| Financial debts | 43 | €15,333 | €218,200 | +€202,867 | +1,323% |
| Other loans | 439 | €15,333 | €218,200 | +€202,867 | +1,323% |
| Trade debts | 44 | €8,718 | €183,547 | +€174,829 | +2,005% |
| Suppliers | 440/4 | €8,718 | €183,547 | +€174,829 | +2,005% |
| Taxes, remuneration and social security | 45 | €12,147 | €0 | -€12,147 | -100% |
| Taxes | 450/3 | €12,147 | €0 | -€12,147 | -100% |
| Other amounts payable | 47/48 | €1,627 | €25,905 | +€24,278 | +1,492% |
| Accrued charges and deferred income | 492/3 | €2,096 | €4,096 | +€2,000 | +95.4% |
| Non-recurring operating income | 76A | €1,082 | €0 | -€1,082 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,048 | €3,048 | +€0 | 0.0% |
| Other operating charges | 640/8 | €569 | €1,973 | +€1,404 | +247% |
| Gross operating margin | 9900 | -€104,594 | -€45,914 | +€58,680 | +56.1% |
| Operating profit (loss) | 9901 | -€108,211 | -€50,936 | +€57,275 | +52.9% |
| Financial income | 75/76B | €576 | €0 | -€576 | -100% |
| Recurring financial income | 75 | €576 | €0 | -€576 | -100% |
| Financial charges | 65/66B | €31,215 | €13,338 | -€17,878 | -57.3% |
| Recurring financial charges | 65 | €31,215 | €13,338 | -€17,878 | -57.3% |
| Profit (loss) for the period before taxes | 9903 | -€138,851 | -€64,274 | +€74,577 | +53.7% |
| Income taxes | 67/77 | €54 | €0 | -€54 | -100% |
| Profit (loss) for the period | 9904 | -€138,905 | -€64,274 | +€74,632 | +53.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€138,905 | -€64,274 | +€74,632 | +53.7% |
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 13 October 2026 via checked.be.