B. CONSTRUCT: what changed
B. CONSTRUCT
Largest movements
- Current investments +€399,723
up €399,723 (+144,513%), from €277 to €400,000
- Cash -€279,929
down €279,929 (-43.5%), from €643,926 to €363,997
mainly Current investments (-€399,723) and Trade debts (-€64,188)
- Receivables within one year -€36,057
down €36,057 (-6.4%), from €563,262 to €527,206
of which Trade receivables: -€35,213
- Tangible fixed assets -€31,667
down €31,667 (-33.7%), from €94,063 to €62,396
of which Furniture and vehicles: -€30,448
- Reserves +€150,146
up €150,146 (+29.4%), from €511,193 to €661,340
of which Distributable reserves: +€150,146
- Trade debts -€64,188
down €64,188 (-81.5%), from €78,795 to €14,607
- Tax, wage and social debts -€26,294
down €26,294 (-48.4%), from €54,315 to €28,021
of which Taxes: -€26,094
- Debts after one year -€14,793
down €14,793 (-44.6%), from €33,165 to €18,373
- Gross operating margin +€36,124
up €36,124 (+9.6%), from €377,450 to €413,574
- Staff costs +€15,859
up €15,859 (+12.1%), from €130,821 to €146,680
- Other operating charges +€11,909
up €11,909 (+391%), from €3,044 to €14,953
- Taxes +€6,262
up €6,262 (+9.8%), from €63,637 to €69,900
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,408,138 | €1,457,138 | +€49,000 | +3.5% |
| Fixed assets | 21/28 | €155,397 | €123,730 | -€31,667 | -20.4% |
| Tangible fixed assets | 22/27 | €94,063 | €62,396 | -€31,667 | -33.7% |
| Plant, machinery and equipment | 23 | €2,640 | €1,422 | -€1,218 | -46.1% |
| Furniture and vehicles | 24 | €91,423 | €60,974 | -€30,448 | -33.3% |
| Financial fixed assets | 28 | €61,334 | €61,334 | = | 0.0% |
| Current assets | 29/58 | €1,252,741 | €1,333,408 | +€80,667 | +6.4% |
| Amounts receivable after more than one year | 29 | €29,414 | €29,414 | = | 0.0% |
| Other amounts receivable | 291 | €29,414 | €29,414 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €563,262 | €527,206 | -€36,057 | -6.4% |
| Trade receivables | 40 | €509,257 | €474,044 | -€35,213 | -6.9% |
| Other amounts receivable | 41 | €54,006 | €53,161 | -€844 | -1.6% |
| Current investments | 50/53 | €277 | €400,000 | +€399,723 | +144,513% |
| Cash at bank and in hand | 54/58 | €643,926 | €363,997 | -€279,929 | -43.5% |
| Deferred charges and accrued income | 490/1 | €15,862 | €12,792 | -€3,070 | -19.4% |
| Total equity and liabilities | 10/49 | €1,408,138 | €1,457,138 | +€49,000 | +3.5% |
| Equity | 10/15 | €1,149,786 | €1,299,932 | +€150,146 | +13.1% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €511,193 | €661,340 | +€150,146 | +29.4% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €508,095 | €658,241 | +€150,146 | +29.6% |
| Profit (loss) carried forward | 14 | €607,606 | €607,606 | = | 0.0% |
| Amounts payable | 17/49 | €258,351 | €157,205 | -€101,146 | -39.2% |
| Amounts payable after more than one year | 17 | €33,165 | €18,373 | -€14,793 | -44.6% |
| Financial debts | 170/4 | €33,165 | €18,373 | -€14,793 | -44.6% |
| Amounts payable within one year | 42/48 | €225,186 | €138,833 | -€86,353 | -38.3% |
| Current portion of amounts payable after more than one year | 42 | €31,866 | €24,740 | -€7,127 | -22.4% |
| Trade debts | 44 | €78,795 | €14,607 | -€64,188 | -81.5% |
| Suppliers | 440/4 | €78,795 | €14,607 | -€64,188 | -81.5% |
| Advances received on contracts in progress | 46 | €25,000 | €25,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €54,315 | €28,021 | -€26,294 | -48.4% |
| Taxes | 450/3 | €54,115 | €28,021 | -€26,094 | -48.2% |
| Remuneration and social security | 454/9 | €200 | - | -€200 | |
| Other amounts payable | 47/48 | €35,210 | €46,465 | +€11,255 | +32.0% |
| Non-recurring operating income | 76A | €15,272 | - | -€15,272 | |
| Remuneration, social security and pensions | 62 | €130,821 | €146,680 | +€15,859 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,982 | €31,667 | +€685 | +2.2% |
| Other operating charges | 640/8 | €3,044 | €14,953 | +€11,909 | +391% |
| Gross operating margin | 9900 | €377,450 | €413,574 | +€36,124 | +9.6% |
| Operating profit (loss) | 9901 | €212,603 | €220,274 | +€7,671 | +3.6% |
| Financial income | 75/76B | €9,692 | €8,509 | -€1,183 | -12.2% |
| Recurring financial income | 75 | €9,692 | €8,509 | -€1,183 | -12.2% |
| Financial charges | 65/66B | €7,472 | €8,738 | +€1,266 | +16.9% |
| Recurring financial charges | 65 | €7,472 | €8,738 | +€1,266 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | €214,824 | €220,046 | +€5,222 | +2.4% |
| Income taxes | 67/77 | €63,637 | €69,900 | +€6,262 | +9.8% |
| Profit (loss) for the period | 9904 | €151,186 | €150,146 | -€1,040 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €151,186 | €150,146 | -€1,040 | -0.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.