BSE 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.
BSE CONSTRUCT
Largest movements
- Receivables within one year +€19,739
up €19,739 (+235.0%), from €8,400 to €28,139
of which Trade receivables: +€22,742
- Cash -€1,569
down €1,569 (-92.8%), from €1,690 to €121
mainly Receivables within one year (-€19,739) and Investment in fixed assets (net) (-€1,315)
- Tangible fixed assets +€1,115
new in 2025: €1,115
- Trade debts +€16,638
up €16,638 (+1226.4%), from €1,357 to €17,994
- Profit (loss) carried forward +€2,105
up €2,105 (+269.5%), from €781 to €2,887
- Tax, wage and social debts +€541
up €541 (+236.0%), from €229 to €770
- Gross operating margin +€2,000
up €2,000 (+203.4%), from €984 to €2,984
- Other operating charges +€400
new in 2025: €400
- Taxes +€380
up €380 (+194.4%), from €195 to €575
- Financial income +€362
up €362 (+3622400.0%), from €0 to €362
- Depreciation +€201
new in 2025: €201
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 | €10,090 | €29,374 | +€19,284 | +191.1% |
| Fixed assets | 21/28 | - | €1,115 | +€1,115 | |
| Tangible fixed assets | 22/27 | - | €1,115 | +€1,115 | |
| Plant, machinery and equipment | 23 | - | €1,115 | +€1,115 | |
| Current assets | 29/58 | €10,090 | €28,260 | +€18,170 | +180.1% |
| Amounts receivable within one year | 40/41 | €8,400 | €28,139 | +€19,739 | +235.0% |
| Trade receivables | 40 | - | €22,742 | +€22,742 | |
| Other amounts receivable | 41 | €8,400 | €5,397 | -€3,003 | -35.8% |
| Cash at bank and in hand | 54/58 | €1,690 | €121 | -€1,569 | -92.8% |
| Total equity and liabilities | 10/49 | €10,090 | €29,374 | +€19,284 | +191.1% |
| Equity | 10/15 | €5,781 | €7,887 | +€2,105 | +36.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €781 | €2,887 | +€2,105 | +269.5% |
| Amounts payable | 17/49 | €4,309 | €21,488 | +€17,179 | +398.7% |
| Amounts payable within one year | 42/48 | €4,309 | €21,488 | +€17,179 | +398.7% |
| Trade debts | 44 | €1,357 | €17,994 | +€16,638 | +1226.4% |
| Suppliers | 440/4 | €1,357 | €17,994 | +€16,638 | +1226.4% |
| Advances received on contracts in progress | 46 | €1,041 | €1,041 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €229 | €770 | +€541 | +236.0% |
| Taxes | 450/3 | €229 | €770 | +€541 | +236.0% |
| Other amounts payable | 47/48 | €1,683 | €1,683 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €201 | +€201 | |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €984 | €2,984 | +€2,000 | +203.4% |
| Operating profit (loss) | 9901 | €984 | €2,383 | +€1,400 | +142.3% |
| Financial income | 75/76B | €0 | €362 | +€362 | +3622400.0% |
| Recurring financial income | 75 | €0 | €362 | +€362 | +3622400.0% |
| Financial charges | 65/66B | €7 | €65 | +€58 | +817.7% |
| Recurring financial charges | 65 | €7 | €65 | +€58 | +817.7% |
| Profit (loss) for the period before taxes | 9903 | €976 | €2,680 | +€1,704 | +174.5% |
| Income taxes | 67/77 | €195 | €575 | +€380 | +194.4% |
| Profit (loss) for the period | 9904 | €781 | €2,105 | +€1,324 | +169.5% |
| Profit (loss) for the period to be appropriated | 9905 | €781 | €2,105 | +€1,324 | +169.5% |
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 4 October 2026 via checked.be.