CAPITAL CONSTRUCT: 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.
What changed
CAPITAL CONSTRUCT
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.7m
2024 · €441,983+€2.2m
Equity
€7.7m
2024 · €6.0m+€1.6m
Cash
€2.2m
2024 · €1.0m+€1.2m
Balance sheet total
€19.5m
2024 · €15.8m+€3.7m
Largest movements
Assets
- Stocks and contracts +€2.8m
up €2.8m (+48.2%), from €5.8m to €8.6m
- Cash +€1.2m
up €1.2m (+113%), from €1.0m to €2.2m
mainly Net result for the year (+€2.7m) and Accrued charges and deferred income (+€2.4m)
- Deferred charges and accrued income -€1.1m
down €1.1m (-75.7%), from €1.5m to €367,509
- Receivables within one year +€892,178
up €892,178 (+20.3%), from €4.4m to €5.3m
of which Other amounts receivable: +€703,091
Equity and liabilities
- Accrued charges and deferred income +€2.4m
up €2.4m (+621%), from €387,920 to €2.8m
- Reserves +€1.6m
up €1.6m (+27.2%), from €6.0m to €7.6m
of which Distributable reserves: +€1.6m
- Other debts +€1.2m
up €1.2m (+86.9%), from €1.4m to €2.7m
- Advances received -€991,290
down €991,290 (-99.0%), from €1.0m to €9,739
- Trade debts -€508,989
down €508,989 (-8.3%), from €6.1m to €5.6m
Income statement
- Turnover +€13.7m
up €13.7m (+189%), from €7.2m to €20.9m
- Goods and materials +€12.0m
up €12.0m (+250%), from €4.8m to €16.8m
of which Purchases: +€10.7m
- Other operating charges -€918,152
down €918,152 (-99.8%), from €920,256 to €2,105
- Taxes +€489,518
up €489,518 (+1,215%), from €40,301 to €529,819
- Financial charges -€440,877
down €440,877 (-68.5%), from €643,735 to €202,858
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.
Result 2024
€441,983
Turnover
+€13.7m
Goods and materials
-€12.0m
Services and other goods
-€64,633
Staff costs
+€9,992
Depreciation
-€1,226
Write-downs
-€95,000
Provisions
-€25,906
Other operating charges
+€918,152
Financial income
-€86,424
Financial charges
+€440,877
Taxes
-€489,518
Result 2025
€2.7m
raises the resultlowers the result
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.
From operations
+€2.2m
Investment
-€22,224
Financing
-€1.1m
Cash 2024
€1.0m
From operations (derived)
+€2.2m
Net result for the year
+€2.7m
Depreciation
+€60,787
Stocks and contracts
-€2.8m
Receivables within one year
-€892,178
Deferred charges and accrued income
+€1.1m
Provisions
+€3,696
Trade debts
-€508,989
Tax, wage and social debts
-€115,561
Advances received
-€991,290
Other debts
+€1.2m
Accrued charges and deferred income
+€2.4m
Investment (derived)
-€22,224
Investment in fixed assets (net)
-€22,224
Financing
-€1.1m
Contributions, distributions and other
-€1.1m
Cash 2025
€2.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,817,271 | €19,475,579 | +€3.7m | +23.1% |
| Fixed assets | 21/28 | €176,869 | €138,306 | -€38,563 | -21.8% |
| Tangible fixed assets | 22/27 | €176,869 | €138,306 | -€38,563 | -21.8% |
| Furniture and vehicles | 24 | €153,641 | €104,599 | -€49,042 | -31.9% |
| Other tangible fixed assets | 26 | €23,228 | €33,706 | +€10,479 | +45.1% |
| Current assets | 29/58 | €15,640,403 | €19,337,273 | +€3.7m | +23.6% |
| Amounts receivable after more than one year | 29 | €2,900,000 | €2,900,000 | = | 0.0% |
| Other amounts receivable | 291 | €2,900,000 | €2,900,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €5,799,798 | €8,597,643 | +€2.8m | +48.2% |
| Stocks | 30/36 | €5,799,798 | €8,597,643 | +€2.8m | +48.2% |
| Property held for sale | 35 | €5,799,798 | €8,597,643 | +€2.8m | +48.2% |
| Amounts receivable within one year | 40/41 | €4,401,258 | €5,293,436 | +€892,178 | +20.3% |
| Trade receivables | 40 | €1,230,076 | €1,419,164 | +€189,088 | +15.4% |
| Other amounts receivable | 41 | €3,171,181 | €3,874,272 | +€703,091 | +22.2% |
| Cash at bank and in hand | 54/58 | €1,024,003 | €2,178,685 | +€1.2m | +113% |
| Deferred charges and accrued income | 490/1 | €1,515,344 | €367,509 | -€1.1m | -75.7% |
| Total equity and liabilities | 10/49 | €15,817,271 | €19,475,579 | +€3.7m | +23.1% |
| Equity | 10/15 | €6,033,586 | €7,657,640 | +€1.6m | +26.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €5,971,586 | €7,595,640 | +€1.6m | +27.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €5,965,386 | €7,589,440 | +€1.6m | +27.2% |
| Provisions and deferred taxes | 16 | €593,041 | €596,737 | +€3,696 | +0.6% |
| Provisions for liabilities and charges | 160/5 | €593,041 | €596,737 | +€3,696 | +0.6% |
| Other liabilities and charges | 164/5 | €593,041 | €596,737 | +€3,696 | +0.6% |
| Amounts payable | 17/49 | €9,190,644 | €11,221,202 | +€2.0m | +22.1% |
| Amounts payable within one year | 42/48 | €8,802,725 | €8,423,636 | -€379,088 | -4.3% |
| Trade debts | 44 | €6,114,825 | €5,605,837 | -€508,989 | -8.3% |
| Suppliers | 440/4 | €6,114,825 | €5,605,837 | -€508,989 | -8.3% |
| Advances received on contracts in progress | 46 | €1,001,029 | €9,739 | -€991,290 | -99.0% |
| Taxes, remuneration and social security | 45 | €262,880 | €147,319 | -€115,561 | -44.0% |
| Taxes | 450/3 | €262,880 | €147,319 | -€115,561 | -44.0% |
| Other amounts payable | 47/48 | €1,423,990 | €2,660,742 | +€1.2m | +86.9% |
| Accrued charges and deferred income | 492/3 | €387,920 | €2,797,565 | +€2.4m | +621% |
| Operating income | 70/76A | €7,226,996 | €20,884,212 | +€13.7m | +189% |
| Turnover | 70 | €7,226,996 | €20,884,212 | +€13.7m | +189% |
| Operating charges | 60/66A | €6,364,086 | €17,642,166 | +€11.3m | +177% |
| Goods for resale, raw materials and consumables | 60 | €4,816,406 | €16,835,863 | +€12.0m | +250% |
| Purchases | 600/8 | €8,983,077 | €19,633,708 | +€10.7m | +119% |
| Change in stocks: decrease (increase) | 609 | -€4,166,671 | -€2,797,844 | +€1.4m | +32.9% |
| Services and other goods | 61 | €675,083 | €739,716 | +€64,633 | +9.6% |
| Remuneration, social security and pensions | 62 | €9,992 | - | -€9,992 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,560 | €60,787 | +€1,226 | +2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€95,000 | - | +€95,000 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€22,211 | €3,696 | +€25,906 | |
| Other operating charges | 640/8 | €920,256 | €2,105 | -€918,152 | -99.8% |
| Operating profit (loss) | 9901 | €862,910 | €3,242,046 | +€2.4m | +276% |
| Financial income | 75/76B | €263,109 | €176,685 | -€86,424 | -32.8% |
| Recurring financial income | 75 | €263,109 | €176,685 | -€86,424 | -32.8% |
| Income from current assets | 751 | €263,096 | €176,598 | -€86,498 | -32.9% |
| Other financial income | 752/9 | €13 | €87 | +€74 | +561% |
| Financial charges | 65/66B | €643,735 | €202,858 | -€440,877 | -68.5% |
| Recurring financial charges | 65 | €643,735 | €202,858 | -€440,877 | -68.5% |
| Debt charges | 650 | €6,974 | €5,891 | -€1,082 | -15.5% |
| Other financial charges | 652/9 | €636,761 | €196,967 | -€439,794 | -69.1% |
| Profit (loss) for the period before taxes | 9903 | €482,284 | €3,215,873 | +€2.7m | +567% |
| Income taxes | 67/77 | €40,301 | €529,819 | +€489,518 | +1,215% |
| Taxes | 670/3 | €40,301 | €529,819 | +€489,518 | +1,215% |
| Profit (loss) for the period | 9904 | €441,983 | €2,686,054 | +€2.2m | +508% |
| Profit (loss) for the period to be appropriated | 9905 | €441,983 | €2,686,054 | +€2.2m | +508% |
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 24 October 2026 via checked.be.