API CONSTRUCT: 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.
API CONSTRUCT
Largest movements
- Receivables within one year -€136,823
down €136,823 (-33.7%), from €406,561 to €269,738
of which Trade receivables: -€142,070
- Cash -€67,000
down €67,000 (-69.1%), from €96,966 to €29,966
mainly Trade debts (-€207,539) and Tax, wage and social debts (-€16,132)
- Trade debts -€207,539
no longer reported in 2025 (was €207,539)
- Profit (loss) carried forward +€25,201
up €25,201 (+11.8%), from €214,191 to €239,392
- Tax, wage and social debts -€16,132
down €16,132 (-32.1%), from €50,234 to €34,102
of which Remuneration and social security: -€9,000
- Other debts -€10,000
no longer reported in 2025 (was €10,000)
- Write-downs +€239,286
new in 2025: €239,286
- Gross operating margin +€203,874
up €203,874 (+282%), from €72,169 to €276,043
- Taxes -€3,782
down €3,782 (-29.7%), from €12,730 to €8,948
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 | €514,774 | €306,304 | -€208,470 | -40.5% |
| Fixed assets | 21/28 | €8,417 | €4,193 | -€4,224 | -50.2% |
| Tangible fixed assets | 22/27 | €7,417 | €3,193 | -€4,224 | -56.9% |
| Plant, machinery and equipment | 23 | €621 | €804 | +€183 | +29.5% |
| Furniture and vehicles | 24 | €6,796 | €2,389 | -€4,407 | -64.8% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €506,357 | €302,111 | -€204,246 | -40.3% |
| Amounts receivable within one year | 40/41 | €406,561 | €269,738 | -€136,823 | -33.7% |
| Trade receivables | 40 | €299,717 | €157,647 | -€142,070 | -47.4% |
| Other amounts receivable | 41 | €106,844 | €112,091 | +€5,247 | +4.9% |
| Cash at bank and in hand | 54/58 | €96,966 | €29,966 | -€67,000 | -69.1% |
| Deferred charges and accrued income | 490/1 | €2,830 | €2,407 | -€423 | -15.0% |
| Total equity and liabilities | 10/49 | €514,774 | €306,304 | -€208,470 | -40.5% |
| Equity | 10/15 | €228,251 | €253,452 | +€25,201 | +11.0% |
| Contributions | 10/11 | €12,200 | €12,200 | = | 0.0% |
| Capital | 10 | €12,200 | - | -€12,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €6,400 | - | -€6,400 | |
| Contributions outside capital | 11 | - | €12,200 | +€12,200 | |
| Other | 1109/19 | - | €12,200 | +€12,200 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €214,191 | €239,392 | +€25,201 | +11.8% |
| Provisions and deferred taxes | 16 | €18,750 | €18,750 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €18,750 | €18,750 | = | 0.0% |
| Environmental obligations | 163 | €18,750 | €18,750 | = | 0.0% |
| Amounts payable | 17/49 | €267,773 | €34,102 | -€233,671 | -87.3% |
| Amounts payable within one year | 42/48 | €267,773 | €34,102 | -€233,671 | -87.3% |
| Trade debts | 44 | €207,539 | - | -€207,539 | |
| Suppliers | 440/4 | €207,539 | - | -€207,539 | |
| Taxes, remuneration and social security | 45 | €50,234 | €34,102 | -€16,132 | -32.1% |
| Taxes | 450/3 | €41,234 | €34,102 | -€7,132 | -17.3% |
| Remuneration and social security | 454/9 | €9,000 | - | -€9,000 | |
| Other amounts payable | 47/48 | €10,000 | - | -€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,651 | €4,842 | +€191 | +4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €239,286 | +€239,286 | |
| Other operating charges | 640/8 | €4,483 | €2,736 | -€1,747 | -39.0% |
| Gross operating margin | 9900 | €72,169 | €276,043 | +€203,874 | +282% |
| Operating profit (loss) | 9901 | €63,035 | €29,180 | -€33,855 | -53.7% |
| Financial income | 75/76B | €4,644 | €5,885 | +€1,241 | +26.7% |
| Recurring financial income | 75 | €4,644 | €5,885 | +€1,241 | +26.7% |
| Financial charges | 65/66B | €1,890 | €915 | -€975 | -51.6% |
| Recurring financial charges | 65 | €1,890 | €915 | -€975 | -51.6% |
| Profit (loss) for the period before taxes | 9903 | €65,789 | €34,150 | -€31,639 | -48.1% |
| Income taxes | 67/77 | €12,730 | €8,948 | -€3,782 | -29.7% |
| Profit (loss) for the period | 9904 | €53,059 | €25,202 | -€27,857 | -52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,059 | €25,202 | -€27,857 | -52.5% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.