B-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.
B-CONSTRUCT
Largest movements
- Receivables within one year -€35,123
down €35,123 (-47.1%), from €74,493 to €39,370
of which Trade receivables: -€36,432
- Tangible fixed assets -€28,400
down €28,400 (-14.2%), from €200,446 to €172,046
of which Furniture and vehicles: -€20,253
- Cash -€23,865
down €23,865 (-58.2%), from €41,036 to €17,171
mainly Net result for the year (-€78,605) and Tax, wage and social debts (-€12,809)
- Profit (loss) carried forward -€78,605
down €78,605 (-42.5%), from -€184,855 to -€263,460
- Other debts +€13,043
new in 2025: €13,043
- Tax, wage and social debts -€12,809
down €12,809 (-100.0%), from €12,809 to €0
of which Remuneration and social security: -€12,683
- Debts after one year -€8,611
down €8,611 (-56.5%), from €15,244 to €6,633
- Gross operating margin -€32,593
down €32,593 (-240.8%), from -€13,533 to -€46,126
- Depreciation -€4,177
down €4,177 (-12.8%), from €32,577 to €28,400
- Financial income +€608
up €608 (+593.3%), from €103 to €711
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 | €329,191 | €242,563 | -€86,628 | -26.3% |
| Fixed assets | 21/28 | €200,456 | €172,056 | -€28,400 | -14.2% |
| Tangible fixed assets | 22/27 | €200,446 | €172,046 | -€28,400 | -14.2% |
| Land and buildings | 22 | €146,352 | €138,964 | -€7,387 | -5.0% |
| Plant, machinery and equipment | 23 | €2,603 | €1,843 | -€760 | -29.2% |
| Furniture and vehicles | 24 | €51,491 | €31,239 | -€20,253 | -39.3% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €128,735 | €70,506 | -€58,229 | -45.2% |
| Stocks and contracts in progress | 3 | €9,862 | €9,862 | = | 0.0% |
| Stocks | 30/36 | €9,862 | €9,862 | = | 0.0% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €74,493 | €39,370 | -€35,123 | -47.1% |
| Trade receivables | 40 | €64,759 | €28,327 | -€36,432 | -56.3% |
| Other amounts receivable | 41 | €9,734 | €11,042 | +€1,309 | +13.4% |
| Cash at bank and in hand | 54/58 | €41,036 | €17,171 | -€23,865 | -58.2% |
| Deferred charges and accrued income | 490/1 | €3,344 | €4,104 | +€760 | +22.7% |
| Total equity and liabilities | 10/49 | €329,191 | €242,563 | -€86,628 | -26.3% |
| Equity | 10/15 | €287,759 | €209,154 | -€78,605 | -27.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €454,014 | €454,014 | = | 0.0% |
| Distributable reserves | 133 | €454,014 | €454,014 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€184,855 | -€263,460 | -€78,605 | -42.5% |
| Amounts payable | 17/49 | €41,432 | €33,409 | -€8,023 | -19.4% |
| Amounts payable after more than one year | 17 | €15,244 | €6,633 | -€8,611 | -56.5% |
| Financial debts | 170/4 | €15,244 | €6,633 | -€8,611 | -56.5% |
| Amounts payable within one year | 42/48 | €26,128 | €26,738 | +€609 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €6,868 | €7,126 | +€259 | +3.8% |
| Trade debts | 44 | €6,452 | €6,568 | +€116 | +1.8% |
| Suppliers | 440/4 | €6,452 | €6,568 | +€116 | +1.8% |
| Taxes, remuneration and social security | 45 | €12,809 | €0 | -€12,809 | -100.0% |
| Taxes | 450/3 | €126 | €0 | -€126 | -100.0% |
| Remuneration and social security | 454/9 | €12,683 | €0 | -€12,683 | -100.0% |
| Other amounts payable | 47/48 | - | €13,043 | +€13,043 | |
| Accrued charges and deferred income | 492/3 | €60 | €39 | -€21 | -35.4% |
| Non-recurring operating income | 76A | €28,054 | €0 | -€28,054 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,577 | €28,400 | -€4,177 | -12.8% |
| Other operating charges | 640/8 | €3,045 | €2,857 | -€188 | -6.2% |
| Gross operating margin | 9900 | -€13,533 | -€46,126 | -€32,593 | -240.8% |
| Operating profit (loss) | 9901 | -€49,155 | -€77,383 | -€28,228 | -57.4% |
| Financial income | 75/76B | €103 | €711 | +€608 | +593.3% |
| Recurring financial income | 75 | €103 | €711 | +€608 | +593.3% |
| Financial charges | 65/66B | €1,521 | €1,933 | +€412 | +27.1% |
| Recurring financial charges | 65 | €1,521 | €1,933 | +€412 | +27.1% |
| Profit (loss) for the period before taxes | 9903 | -€50,573 | -€78,605 | -€28,032 | -55.4% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€50,573 | -€78,605 | -€28,032 | -55.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,573 | -€78,605 | -€28,032 | -55.4% |
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.