AY-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.
AY-CONSTRUCT
Largest movements
- Tangible fixed assets +€246,414
up €246,414 (+309.9%), from €79,509 to €325,923
of which Land and buildings: +€246,367
- Receivables within one year +€53,851
up €53,851 (+20.7%), from €259,900 to €313,751
of which Other amounts receivable: +€44,377
- Deferred charges and accrued income +€8,247
up €8,247 (+110.5%), from €7,460 to €15,707
- Debts after one year +€225,602
new in 2025: €225,602
- Other debts +€53,343
up €53,343, from €0 to €53,343
- Reserves +€37,301
up €37,301 (+11.9%), from €314,007 to €351,307
- Tax, wage and social debts -€19,725
down €19,725 (-83.4%), from €23,652 to €3,927
of which Taxes: -€12,855
- Current portion of long-term debt +€11,258
new in 2025: €11,258
- Gross operating margin -€155,774
down €155,774 (-50.1%), from €310,843 to €155,069
- Taxes -€49,392
down €49,392 (-69.9%), from €70,673 to €21,281
- Depreciation +€17,407
up €17,407 (+166.2%), from €10,474 to €27,881
- Staff costs +€5,879
up €5,879 (+32.9%), from €17,846 to €23,726
- Financial charges +€4,077
up €4,077 (+7020.8%), from €58 to €4,135
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 | €371,188 | €675,506 | +€304,318 | +82.0% |
| Fixed assets | 21/28 | €83,503 | €329,917 | +€246,414 | +295.1% |
| Tangible fixed assets | 22/27 | €79,509 | €325,923 | +€246,414 | +309.9% |
| Land and buildings | 22 | €6,585 | €252,951 | +€246,367 | +3741.4% |
| Plant, machinery and equipment | 23 | €54,701 | €49,032 | -€5,669 | -10.4% |
| Furniture and vehicles | 24 | €18,223 | €23,940 | +€5,717 | +31.4% |
| Financial fixed assets | 28 | €3,994 | €3,994 | = | 0.0% |
| Current assets | 29/58 | €287,685 | €345,589 | +€57,904 | +20.1% |
| Amounts receivable within one year | 40/41 | €259,900 | €313,751 | +€53,851 | +20.7% |
| Trade receivables | 40 | €0 | €9,474 | +€9,474 | |
| Other amounts receivable | 41 | €259,900 | €304,277 | +€44,377 | +17.1% |
| Cash at bank and in hand | 54/58 | €20,325 | €16,131 | -€4,194 | -20.6% |
| Deferred charges and accrued income | 490/1 | €7,460 | €15,707 | +€8,247 | +110.5% |
| Total equity and liabilities | 10/49 | €371,188 | €675,506 | +€304,318 | +82.0% |
| Equity | 10/15 | €329,007 | €366,307 | +€37,301 | +11.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €314,007 | €351,307 | +€37,301 | +11.9% |
| Distributable reserves | 133 | €314,007 | €351,307 | +€37,301 | +11.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €42,182 | €309,199 | +€267,017 | +633.0% |
| Amounts payable after more than one year | 17 | - | €225,602 | +€225,602 | |
| Financial debts | 170/4 | - | €225,602 | +€225,602 | |
| Amounts payable within one year | 42/48 | €42,182 | €83,597 | +€41,416 | +98.2% |
| Current portion of amounts payable after more than one year | 42 | - | €11,258 | +€11,258 | |
| Trade debts | 44 | €18,529 | €15,070 | -€3,460 | -18.7% |
| Suppliers | 440/4 | €18,529 | €15,070 | -€3,460 | -18.7% |
| Taxes, remuneration and social security | 45 | €23,652 | €3,927 | -€19,725 | -83.4% |
| Taxes | 450/3 | €16,781 | €3,927 | -€12,855 | -76.6% |
| Remuneration and social security | 454/9 | €6,871 | €0 | -€6,871 | -100.0% |
| Other amounts payable | 47/48 | €0 | €53,343 | +€53,343 | |
| Remuneration, social security and pensions | 62 | €17,846 | €23,726 | +€5,879 | +32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,474 | €27,881 | +€17,407 | +166.2% |
| Other operating charges | 640/8 | €974 | €1,963 | +€989 | +101.6% |
| Gross operating margin | 9900 | €310,843 | €155,069 | -€155,774 | -50.1% |
| Operating profit (loss) | 9901 | €281,549 | €101,499 | -€180,050 | -63.9% |
| Financial income | 75/76B | €506 | €296 | -€209 | -41.4% |
| Recurring financial income | 75 | €506 | €296 | -€209 | -41.4% |
| Financial charges | 65/66B | €58 | €4,135 | +€4,077 | +7020.8% |
| Recurring financial charges | 65 | €58 | €4,135 | +€4,077 | +7020.8% |
| Profit (loss) for the period before taxes | 9903 | €281,997 | €97,661 | -€184,336 | -65.4% |
| Income taxes | 67/77 | €70,673 | €21,281 | -€49,392 | -69.9% |
| Profit (loss) for the period | 9904 | €211,324 | €76,380 | -€134,944 | -63.9% |
| Profit (loss) for the period to be appropriated | 9905 | €211,324 | €76,380 | -€134,944 | -63.9% |
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.