BELGIAN CONSTRUCT INVEST: 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.
BELGIAN CONSTRUCT INVEST
Largest movements
- Financial fixed assets +€140,000
up €140,000 (+15.5%), from €905,050 to €1.0m
- Receivables within one year -€109,170
down €109,170 (-11.6%), from €944,758 to €835,588
- Other debts +€240,125
up €240,125 (+35.9%), from €668,259 to €908,384
- Short-term financial debts -€239,880
down €239,880 (-86.3%), from €277,871 to €37,991
of which Credit institutions: -€149,880
- Revaluation surpluses +€140,000
new in 2025: €140,000
- Profit (loss) carried forward -€62,779
down €62,779 (-6.5%), from €964,151 to €901,372
- Debts after one year -€56,944
down €56,944 (-21.0%), from €271,630 to €214,686
of which Financial debts: -€56,944
- Gross operating margin +€51,967
up €51,967 (+8,328%), from €624 to €52,591
- Other operating charges -€10,866
down €10,866 (-45.4%), from €23,935 to €13,069
- Financial charges -€4,347
down €4,347 (-10.0%), from €43,598 to €39,251
- Depreciation +€3,922
up €3,922 (+25.0%), from €15,687 to €19,609
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,489,568 | €2,500,750 | +€11,182 | +0.4% |
| Fixed assets | 21/28 | €1,543,948 | €1,664,339 | +€120,391 | +7.8% |
| Tangible fixed assets | 22/27 | €638,898 | €619,289 | -€19,609 | -3.1% |
| Land and buildings | 22 | €428,898 | €409,289 | -€19,609 | -4.6% |
| Assets under construction and advance payments | 27 | €210,000 | €210,000 | = | 0.0% |
| Financial fixed assets | 28 | €905,050 | €1,045,050 | +€140,000 | +15.5% |
| Current assets | 29/58 | €945,620 | €836,411 | -€109,209 | -11.5% |
| Amounts receivable within one year | 40/41 | €944,758 | €835,588 | -€109,170 | -11.6% |
| Other amounts receivable | 41 | €944,758 | €835,588 | -€109,170 | -11.6% |
| Cash at bank and in hand | 54/58 | €357 | €16 | -€341 | -95.5% |
| Deferred charges and accrued income | 490/1 | €505 | €807 | +€302 | +59.8% |
| Total equity and liabilities | 10/49 | €2,489,568 | €2,500,750 | +€11,182 | +0.4% |
| Equity | 10/15 | €1,101,651 | €1,178,872 | +€77,221 | +7.0% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €140,000 | +€140,000 | |
| Reserves | 13 | €12,500 | €12,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €964,151 | €901,372 | -€62,779 | -6.5% |
| Amounts payable | 17/49 | €1,387,917 | €1,321,878 | -€66,039 | -4.8% |
| Amounts payable after more than one year | 17 | €271,630 | €214,686 | -€56,944 | -21.0% |
| Financial debts | 170/4 | €263,309 | €206,365 | -€56,944 | -21.6% |
| Other amounts payable | 178/9 | €8,321 | €8,321 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,116,287 | €1,107,192 | -€9,095 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €65,927 | €56,944 | -€8,983 | -13.6% |
| Financial debts | 43 | €277,871 | €37,991 | -€239,880 | -86.3% |
| Credit institutions | 430/8 | €153,871 | €3,991 | -€149,880 | -97.4% |
| Other loans | 439 | €124,000 | €34,000 | -€90,000 | -72.6% |
| Trade debts | 44 | €44,230 | €43,873 | -€357 | -0.8% |
| Suppliers | 440/4 | €44,230 | €43,873 | -€357 | -0.8% |
| Advances received on contracts in progress | 46 | €60,000 | €60,000 | = | 0.0% |
| Other amounts payable | 47/48 | €668,259 | €908,384 | +€240,125 | +35.9% |
| Non-recurring operating income | 76A | - | €6,233 | +€6,233 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,687 | €19,609 | +€3,922 | +25.0% |
| Other operating charges | 640/8 | €23,935 | €13,069 | -€10,866 | -45.4% |
| Non-recurring operating charges | 66A | - | €43,441 | +€43,441 | |
| Gross operating margin | 9900 | €624 | €52,591 | +€51,967 | +8,328% |
| Operating profit (loss) | 9901 | -€38,998 | -€23,528 | +€15,470 | +39.7% |
| Financial charges | 65/66B | €43,598 | €39,251 | -€4,347 | -10.0% |
| Recurring financial charges | 65 | €43,598 | €39,251 | -€4,347 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | -€82,596 | -€62,779 | +€19,817 | +24.0% |
| Profit (loss) for the period | 9904 | -€82,596 | -€62,779 | +€19,817 | +24.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€82,596 | -€62,779 | +€19,817 | +24.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.