AND 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.
AND CONSTRUCT
Largest movements
- Financial fixed assets +€74,400
new in 2025: €74,400
- Receivables within one year -€30,018
down €30,018 (-52.4%), from €57,265 to €27,247
- Cash -€14,049
down €14,049 (-20.6%), from €68,209 to €54,161
mainly Investment in fixed assets (net) (-€74,400) and Other debts (-€4,942)
- Tangible fixed assets -€3,913
down €3,913 (-63.0%), from €6,215 to €2,302
of which Furniture and vehicles: -€3,528
- Profit (loss) carried forward +€19,932
up €19,932 (+18.4%), from €108,530 to €128,463
- Tax, wage and social debts +€7,202
up €7,202 (+79.9%), from €9,014 to €16,216
- Other debts -€4,942
down €4,942 (-98.8%), from €5,000 to €58
- Trade debts +€3,127
up €3,127 (+77.2%), from €4,048 to €7,175
- Gross operating margin +€8,225
up €8,225 (+36.9%), from €22,283 to €30,508
- Taxes +€2,937
up €2,937 (+96.4%), from €3,046 to €5,983
- Financial income -€785
down €785 (-91.2%), from €861 to €76
of which Financial income: -€785
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 | €134,093 | €159,589 | +€25,497 | +19.0% |
| Fixed assets | 21/28 | €6,215 | €76,702 | +€70,487 | +1134.1% |
| Tangible fixed assets | 22/27 | €6,215 | €2,302 | -€3,913 | -63.0% |
| Plant, machinery and equipment | 23 | €385 | €0 | -€385 | -100.0% |
| Furniture and vehicles | 24 | €5,830 | €2,302 | -€3,528 | -60.5% |
| Financial fixed assets | 28 | - | €74,400 | +€74,400 | |
| Current assets | 29/58 | €127,877 | €82,887 | -€44,990 | -35.2% |
| Amounts receivable within one year | 40/41 | €57,265 | €27,247 | -€30,018 | -52.4% |
| Trade receivables | 40 | €57,265 | €27,247 | -€30,018 | -52.4% |
| Cash at bank and in hand | 54/58 | €68,209 | €54,161 | -€14,049 | -20.6% |
| Deferred charges and accrued income | 490/1 | €2,403 | €1,480 | -€923 | -38.4% |
| Total equity and liabilities | 10/49 | €134,093 | €159,589 | +€25,497 | +19.0% |
| Equity | 10/15 | €116,030 | €135,963 | +€19,932 | +17.2% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €108,530 | €128,463 | +€19,932 | +18.4% |
| Amounts payable | 17/49 | €18,063 | €23,627 | +€5,564 | +30.8% |
| Amounts payable within one year | 42/48 | €18,063 | €23,449 | +€5,386 | +29.8% |
| Trade debts | 44 | €4,048 | €7,175 | +€3,127 | +77.2% |
| Suppliers | 440/4 | €4,048 | €7,175 | +€3,127 | +77.2% |
| Taxes, remuneration and social security | 45 | €9,014 | €16,216 | +€7,202 | +79.9% |
| Taxes | 450/3 | €9,014 | €16,216 | +€7,202 | +79.9% |
| Other amounts payable | 47/48 | €5,000 | €58 | -€4,942 | -98.8% |
| Accrued charges and deferred income | 492/3 | - | €178 | +€178 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,053 | €3,913 | -€140 | -3.5% |
| Other operating charges | 640/8 | €218 | €214 | -€3 | -1.6% |
| Gross operating margin | 9900 | €22,283 | €30,508 | +€8,225 | +36.9% |
| Operating profit (loss) | 9901 | €18,012 | €26,381 | +€8,369 | +46.5% |
| Financial income | 75/76B | €861 | €76 | -€785 | -91.2% |
| Recurring financial income | 75 | €861 | €76 | -€785 | -91.2% |
| Non-recurring financial income | 76B | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €685 | €541 | -€143 | -21.0% |
| Recurring financial charges | 65 | €683 | €541 | -€142 | -20.8% |
| Non-recurring financial charges | 66B | €1 | €0 | -€1 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €18,189 | €25,915 | +€7,727 | +42.5% |
| Income taxes | 67/77 | €3,046 | €5,983 | +€2,937 | +96.4% |
| Profit (loss) for the period | 9904 | €15,143 | €19,932 | +€4,789 | +31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,143 | €19,932 | +€4,789 | +31.6% |
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 7 October 2026 via checked.be.