BSE CONSTRUCTION: 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.
BSE CONSTRUCTION
Largest movements
- Receivables within one year -€17,115
down €17,115 (-38.0%), from €45,021 to €27,907
of which Trade receivables: -€15,854
- Stocks and contracts +€15,060
up €15,060 (+425%), from €3,541 to €18,600
- Cash +€5,683
up €5,683 (+45.8%), from €12,411 to €18,095
mainly Receivables within one year (+€17,115) and Other debts (+€4,601)
- Tangible fixed assets -€4,340
down €4,340 (-26.3%), from €16,524 to €12,184
of which Furniture and vehicles: -€3,400
- Tax, wage and social debts -€6,448
down €6,448 (-78.1%), from €8,256 to €1,808
- Other debts +€4,601
up €4,601 (+30.2%), from €15,245 to €19,846
- Profit (loss) carried forward +€1,561
up €1,561 (+3.9%), from €40,370 to €41,931
- Gross operating margin -€46,837
down €46,837 (-31.5%), from €148,494 to €101,658
- Staff costs -€27,564
down €27,564 (-23.0%), from €119,631 to €92,068
- Taxes +€3,098
new in 2025: €3,098
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
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 | €77,658 | €77,333 | -€324 | -0.4% |
| Fixed assets | 21/28 | €16,524 | €12,184 | -€4,340 | -26.3% |
| Tangible fixed assets | 22/27 | €16,524 | €12,184 | -€4,340 | -26.3% |
| Plant, machinery and equipment | 23 | €3,060 | €2,120 | -€940 | -30.7% |
| Furniture and vehicles | 24 | €13,464 | €10,064 | -€3,400 | -25.3% |
| Current assets | 29/58 | €61,134 | €65,150 | +€4,016 | +6.6% |
| Stocks and contracts in progress | 3 | €3,541 | €18,600 | +€15,060 | +425% |
| Stocks | 30/36 | €3,541 | €18,600 | +€15,060 | +425% |
| Amounts receivable within one year | 40/41 | €45,021 | €27,907 | -€17,115 | -38.0% |
| Trade receivables | 40 | €36,769 | €20,915 | -€15,854 | -43.1% |
| Other amounts receivable | 41 | €8,252 | €6,991 | -€1,261 | -15.3% |
| Cash at bank and in hand | 54/58 | €12,411 | €18,095 | +€5,683 | +45.8% |
| Deferred charges and accrued income | 490/1 | €160 | €548 | +€388 | +242% |
| Total equity and liabilities | 10/49 | €77,658 | €77,333 | -€324 | -0.4% |
| Equity | 10/15 | €45,370 | €46,931 | +€1,561 | +3.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,370 | €41,931 | +€1,561 | +3.9% |
| Amounts payable | 17/49 | €32,288 | €30,402 | -€1,885 | -5.8% |
| Amounts payable within one year | 42/48 | €32,288 | €30,402 | -€1,885 | -5.8% |
| Trade debts | 44 | €8,787 | €8,749 | -€38 | -0.4% |
| Suppliers | 440/4 | €8,787 | €8,749 | -€38 | -0.4% |
| Taxes, remuneration and social security | 45 | €8,256 | €1,808 | -€6,448 | -78.1% |
| Remuneration and social security | 454/9 | €8,256 | €1,808 | -€6,448 | -78.1% |
| Other amounts payable | 47/48 | €15,245 | €19,846 | +€4,601 | +30.2% |
| Remuneration, social security and pensions | 62 | €119,631 | €92,068 | -€27,564 | -23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,239 | €4,340 | +€1,102 | +34.0% |
| Other operating charges | 640/8 | €244 | €497 | +€253 | +103% |
| Gross operating margin | 9900 | €148,494 | €101,658 | -€46,837 | -31.5% |
| Operating profit (loss) | 9901 | €25,380 | €4,753 | -€20,627 | -81.3% |
| Financial charges | 65/66B | €14 | €94 | +€80 | +555% |
| Recurring financial charges | 65 | €14 | €94 | +€80 | +555% |
| Profit (loss) for the period before taxes | 9903 | €25,365 | €4,659 | -€20,707 | -81.6% |
| Income taxes | 67/77 | - | €3,098 | +€3,098 | |
| Profit (loss) for the period | 9904 | €25,365 | €1,561 | -€23,804 | -93.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,365 | €1,561 | -€23,804 | -93.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.