CARDOSOCONSTRUCT: 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.
CARDOSOCONSTRUCT
Largest movements
- Receivables within one year +€169,586
up €169,586 (+53.5%), from €316,924 to €486,510
of which Trade receivables: +€167,026
- Cash -€31,019
down €31,019 (-71.5%), from €43,376 to €12,357
mainly Receivables within one year (-€169,586) and Other debts (-€17,268)
- Stocks and contracts +€9,753
new in 2025: €9,753
- Tangible fixed assets -€6,123
down €6,123 (-75.8%), from €8,080 to €1,957
- Trade debts +€156,054
up €156,054 (+72.5%), from €215,247 to €371,301
- Other debts -€17,268
down €17,268 (-99.1%), from €17,429 to €161
- Gross operating margin -€58,614
down €58,614 (-81.4%), from €72,030 to €13,416
- Taxes -€8,126
down €8,126 (-58.6%), from €13,862 to €5,736
- Depreciation -€2,294
down €2,294 (-27.3%), from €8,417 to €6,123
- Other operating charges -€1,752
no longer reported in 2025 (was €1,752)
- Financial charges +€977
up €977 (+267.6%), from €365 to €1,342
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 | €368,380 | €510,577 | +€142,197 | +38.6% |
| Fixed assets | 21/28 | €8,080 | €1,957 | -€6,123 | -75.8% |
| Tangible fixed assets | 22/27 | €8,080 | €1,957 | -€6,123 | -75.8% |
| Furniture and vehicles | 24 | €8,080 | €1,957 | -€6,123 | -75.8% |
| Current assets | 29/58 | €360,300 | €508,620 | +€148,320 | +41.2% |
| Stocks and contracts in progress | 3 | - | €9,753 | +€9,753 | |
| Stocks | 30/36 | - | €9,753 | +€9,753 | |
| Amounts receivable within one year | 40/41 | €316,924 | €486,510 | +€169,586 | +53.5% |
| Trade receivables | 40 | €311,344 | €478,370 | +€167,026 | +53.6% |
| Other amounts receivable | 41 | €5,580 | €8,141 | +€2,561 | +45.9% |
| Cash at bank and in hand | 54/58 | €43,376 | €12,357 | -€31,019 | -71.5% |
| Total equity and liabilities | 10/49 | €368,380 | €510,577 | +€142,197 | +38.6% |
| Equity | 10/15 | €75,556 | €75,772 | +€216 | +0.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,056 | €74,272 | +€216 | +0.3% |
| Amounts payable | 17/49 | €292,824 | €434,806 | +€141,982 | +48.5% |
| Amounts payable within one year | 42/48 | €292,824 | €434,806 | +€141,982 | +48.5% |
| Trade debts | 44 | €215,247 | €371,301 | +€156,054 | +72.5% |
| Suppliers | 440/4 | €215,247 | €371,301 | +€156,054 | +72.5% |
| Advances received on contracts in progress | 46 | €41,326 | €41,326 | +€0 | 0.0% |
| Taxes, remuneration and social security | 45 | €18,822 | €22,018 | +€3,196 | +17.0% |
| Taxes | 450/3 | €18,822 | €22,018 | +€3,196 | +17.0% |
| Other amounts payable | 47/48 | €17,429 | €161 | -€17,268 | -99.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,417 | €6,123 | -€2,294 | -27.3% |
| Other operating charges | 640/8 | €1,752 | - | -€1,752 | |
| Gross operating margin | 9900 | €72,030 | €13,416 | -€58,614 | -81.4% |
| Operating profit (loss) | 9901 | €61,861 | €7,292 | -€54,569 | -88.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €365 | €1,342 | +€977 | +267.6% |
| Recurring financial charges | 65 | €365 | €1,342 | +€977 | +267.6% |
| Profit (loss) for the period before taxes | 9903 | €61,496 | €5,951 | -€55,545 | -90.3% |
| Income taxes | 67/77 | €13,862 | €5,736 | -€8,126 | -58.6% |
| Profit (loss) for the period | 9904 | €47,634 | €215 | -€47,419 | -99.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,634 | €215 | -€47,419 | -99.5% |
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 28 September 2026 via checked.be.