AMERICA 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.
AMERICA CONSTRUCT
Largest movements
- Tangible fixed assets +€443,509
up €443,509 (+51.4%), from €862,204 to €1.3m
of which Land and buildings: +€465,671
- Current investments +€239,257
up €239,257 (+49.0%), from €487,825 to €727,082
- Receivables within one year -€216,080
down €216,080 (-78.2%), from €276,300 to €60,220
of which Trade receivables: -€273,154
- Debts after one year +€296,540
up €296,540 (+42.7%), from €695,135 to €991,675
of which Financial debts: +€296,540
- Reserves +€204,192
up €204,192 (+22.6%), from €905,439 to €1.1m
- Short-term financial debts -€100,000
no longer reported in 2025 (was €100,000)
- Trade debts -€73,649
down €73,649 (-99.8%), from €73,790 to €140
- Other debts +€67,236
up €67,236 (+3058.6%), from €2,198 to €69,434
- Gross operating margin -€259,711
down €259,711 (-43.3%), from €599,526 to €339,815
- Taxes -€77,373
down €77,373 (-65.6%), from €117,913 to €40,540
- Financial income +€37,725
up €37,725 (+326.1%), from €11,570 to €49,294
- Financial charges +€36,171
up €36,171 (+55.4%), from €65,305 to €101,476
- Other operating charges -€15,533
down €15,533 (-89.6%), from €17,336 to €1,804
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 | €1,860,970 | €2,306,502 | +€445,532 | +23.9% |
| Fixed assets | 21/28 | €862,204 | €1,305,713 | +€443,509 | +51.4% |
| Tangible fixed assets | 22/27 | €862,204 | €1,305,713 | +€443,509 | +51.4% |
| Land and buildings | 22 | €592,048 | €1,057,720 | +€465,671 | +78.7% |
| Plant, machinery and equipment | 23 | €8,948 | €5,976 | -€2,972 | -33.2% |
| Furniture and vehicles | 24 | €261,208 | €242,018 | -€19,190 | -7.3% |
| Current assets | 29/58 | €998,766 | €1,000,789 | +€2,023 | +0.2% |
| Stocks and contracts in progress | 3 | €118,000 | €118,000 | = | 0.0% |
| Stocks | 30/36 | €118,000 | €118,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €276,300 | €60,220 | -€216,080 | -78.2% |
| Trade receivables | 40 | €276,300 | €3,146 | -€273,154 | -98.9% |
| Other amounts receivable | 41 | - | €57,074 | +€57,074 | |
| Current investments | 50/53 | €487,825 | €727,082 | +€239,257 | +49.0% |
| Cash at bank and in hand | 54/58 | €109,072 | €92,488 | -€16,584 | -15.2% |
| Deferred charges and accrued income | 490/1 | €7,570 | €3,000 | -€4,570 | -60.4% |
| Total equity and liabilities | 10/49 | €1,860,970 | €2,306,502 | +€445,532 | +23.9% |
| Equity | 10/15 | €925,439 | €1,129,631 | +€204,192 | +22.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €905,439 | €1,109,631 | +€204,192 | +22.6% |
| Distributable reserves | 133 | €905,439 | €1,109,631 | +€204,192 | +22.6% |
| Amounts payable | 17/49 | €935,531 | €1,176,871 | +€241,340 | +25.8% |
| Amounts payable after more than one year | 17 | €695,135 | €991,675 | +€296,540 | +42.7% |
| Financial debts | 170/4 | €395,135 | €691,675 | +€296,540 | +75.0% |
| Other amounts payable | 178/9 | €300,000 | €300,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €237,556 | €167,832 | -€69,724 | -29.4% |
| Current portion of amounts payable after more than one year | 42 | €20,981 | €65,216 | +€44,235 | +210.8% |
| Financial debts | 43 | €100,000 | - | -€100,000 | |
| Other loans | 439 | €100,000 | - | -€100,000 | |
| Trade debts | 44 | €73,790 | €140 | -€73,649 | -99.8% |
| Suppliers | 440/4 | €73,790 | €140 | -€73,649 | -99.8% |
| Taxes, remuneration and social security | 45 | €40,587 | €33,041 | -€7,546 | -18.6% |
| Taxes | 450/3 | €39,292 | €33,041 | -€6,250 | -15.9% |
| Remuneration and social security | 454/9 | €1,295 | - | -€1,295 | |
| Other amounts payable | 47/48 | €2,198 | €69,434 | +€67,236 | +3058.6% |
| Accrued charges and deferred income | 492/3 | €2,840 | €17,364 | +€14,524 | +511.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,794 | €41,098 | +€13,303 | +47.9% |
| Other operating charges | 640/8 | €17,336 | €1,804 | -€15,533 | -89.6% |
| Gross operating margin | 9900 | €599,526 | €339,815 | -€259,711 | -43.3% |
| Operating profit (loss) | 9901 | €554,396 | €296,914 | -€257,482 | -46.4% |
| Financial income | 75/76B | €11,570 | €49,294 | +€37,725 | +326.1% |
| Recurring financial income | 75 | €11,570 | €49,294 | +€37,725 | +326.1% |
| Financial charges | 65/66B | €65,305 | €101,476 | +€36,171 | +55.4% |
| Recurring financial charges | 65 | €65,305 | €101,476 | +€36,171 | +55.4% |
| Profit (loss) for the period before taxes | 9903 | €500,660 | €244,732 | -€255,928 | -51.1% |
| Income taxes | 67/77 | €117,913 | €40,540 | -€77,373 | -65.6% |
| Profit (loss) for the period | 9904 | €382,747 | €204,192 | -€178,556 | -46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €382,747 | €204,192 | -€178,556 | -46.7% |
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 4 October 2026 via checked.be.