CD - CONSTRUCTS: 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.
What changed
CD - CONSTRUCTS
NACE 25.110, Manufacture of metal structures and parts of structures
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€220,684
2024 · -€289,548+€68,864
Equity
€247,535
2024 · €468,221-€220,686
Cash
€164,303
2024 · €117,190+€47,113
Balance sheet total
€3.9m
2024 · €5.0m-€1.1m
Largest movements
Assets
- Receivables within one year -€555,140
down €555,140 (-48.8%), from €1.1m to €582,962
of which Trade receivables: -€585,505
- Stocks and contracts -€276,649
down €276,649 (-19.3%), from €1.4m to €1.2m
- Tangible fixed assets -€260,682
down €260,682 (-12.1%), from €2.2m to €1.9m
Equity and liabilities
- Advances received -€649,309
down €649,309 (-58.3%), from €1.1m to €464,889
- Debts after one year -€354,867
down €354,867 (-22.8%), from €1.6m to €1.2m
- Reserves -€220,686
down €220,686 (-52.7%), from €418,621 to €197,935
of which Distributable reserves: -€220,686
- Trade debts +€177,839
up €177,839 (+40.3%), from €440,749 to €618,588
of which Suppliers: +€179,462
Income statement
- Depreciation -€42,994
down €42,994 (-16.2%), from €265,162 to €222,168
- Financial charges -€21,333
down €21,333 (-20.7%), from €103,192 to €81,859
- Financial income +€18,081
up €18,081 (+175.8%), from €10,284 to €28,365
- Staff costs -€15,821
down €15,821 (-2.0%), from €810,277 to €794,456
- Write-downs +€15,317
up €15,317 (+4627.5%), from €331 to €15,648
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
-€289,548
Gross operating margin
-€10,044
Staff costs
+€15,821
Depreciation
+€42,994
Write-downs
-€15,317
Other operating charges
-€4,155
Financial income
+€18,081
Financial charges
+€21,333
Taxes
+€151
Result 2025
-€220,684
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.
From operations
+€355,913
Investment
+€49,312
Financing
-€358,112
Cash 2024
€117,190
From operations (derived)
+€355,913
Net result for the year
-€220,684
Depreciation
+€222,168
Stocks and contracts
+€276,649
Receivables within one year
+€555,140
Deferred charges and accrued income
+€37,474
Trade debts
+€177,839
Tax, wage and social debts
-€40,990
Advances received
-€649,309
Accrued charges and deferred income
-€2,374
Investment (derived)
+€49,312
Investment in fixed assets (net)
+€49,312
Financing
-€358,112
Debts after one year
-€354,867
Current portion of long-term debt
-€34,275
Short-term financial debts
+€31,032
Contributions, distributions and other
-€2
Cash 2025
€164,303
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,004,432 | €3,910,802 | -€1.1m | -21.9% |
| Fixed assets | 21/28 | €2,219,495 | €1,948,015 | -€271,480 | -12.2% |
| Intangible fixed assets | 21 | €47,118 | €36,570 | -€10,548 | -22.4% |
| Tangible fixed assets | 22/27 | €2,162,314 | €1,901,632 | -€260,682 | -12.1% |
| Land and buildings | 22 | €1,615,767 | €1,529,546 | -€86,221 | -5.3% |
| Plant, machinery and equipment | 23 | €88,544 | €55,903 | -€32,641 | -36.9% |
| Furniture and vehicles | 24 | €257,357 | €142,995 | -€114,362 | -44.4% |
| Leasing and similar rights | 25 | €189,033 | €167,634 | -€21,399 | -11.3% |
| Other tangible fixed assets | 26 | €11,613 | €5,554 | -€6,059 | -52.2% |
| Financial fixed assets | 28 | €10,063 | €9,813 | -€250 | -2.5% |
| Current assets | 29/58 | €2,784,937 | €1,962,787 | -€822,150 | -29.5% |
| Stocks and contracts in progress | 3 | €1,433,241 | €1,156,592 | -€276,649 | -19.3% |
| Stocks | 30/36 | €1,433,241 | €1,156,592 | -€276,649 | -19.3% |
| Amounts receivable within one year | 40/41 | €1,138,102 | €582,962 | -€555,140 | -48.8% |
| Trade receivables | 40 | €1,104,472 | €518,967 | -€585,505 | -53.0% |
| Other amounts receivable | 41 | €33,630 | €63,995 | +€30,365 | +90.3% |
| Cash at bank and in hand | 54/58 | €117,190 | €164,303 | +€47,113 | +40.2% |
| Deferred charges and accrued income | 490/1 | €96,404 | €58,930 | -€37,474 | -38.9% |
| Total equity and liabilities | 10/49 | €5,004,432 | €3,910,802 | -€1.1m | -21.9% |
| Equity | 10/15 | €468,221 | €247,535 | -€220,686 | -47.1% |
| Contributions | 10/11 | €49,600 | €49,600 | = | 0.0% |
| Reserves | 13 | €418,621 | €197,935 | -€220,686 | -52.7% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €399,871 | €179,185 | -€220,686 | -55.2% |
| Amounts payable | 17/49 | €4,536,211 | €3,663,267 | -€872,944 | -19.2% |
| Amounts payable after more than one year | 17 | €1,557,571 | €1,202,704 | -€354,867 | -22.8% |
| Financial debts | 170/4 | €1,557,571 | €1,202,704 | -€354,867 | -22.8% |
| Amounts payable within one year | 42/48 | €2,964,690 | €2,448,987 | -€515,703 | -17.4% |
| Current portion of amounts payable after more than one year | 42 | €212,011 | €177,736 | -€34,275 | -16.2% |
| Financial debts | 43 | €1,036,494 | €1,067,526 | +€31,032 | +3.0% |
| Credit institutions | 430/8 | €1,036,494 | €1,000,000 | -€36,494 | -3.5% |
| Other loans | 439 | - | €67,526 | +€67,526 | |
| Trade debts | 44 | €440,749 | €618,588 | +€177,839 | +40.3% |
| Suppliers | 440/4 | €439,126 | €618,588 | +€179,462 | +40.9% |
| Bills of exchange payable | 441 | €1,623 | - | -€1,623 | |
| Advances received on contracts in progress | 46 | €1,114,198 | €464,889 | -€649,309 | -58.3% |
| Taxes, remuneration and social security | 45 | €161,058 | €120,068 | -€40,990 | -25.5% |
| Taxes | 450/3 | €25,640 | €11,320 | -€14,320 | -55.9% |
| Remuneration and social security | 454/9 | €135,418 | €108,748 | -€26,670 | -19.7% |
| Other amounts payable | 47/48 | €180 | €180 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €13,950 | €11,576 | -€2,374 | -17.0% |
| Remuneration, social security and pensions | 62 | €810,277 | €794,456 | -€15,821 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €265,162 | €222,168 | -€42,994 | -16.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €331 | €15,648 | +€15,317 | +4627.5% |
| Other operating charges | 640/8 | €22,422 | €26,577 | +€4,155 | +18.5% |
| Gross operating margin | 9900 | €902,105 | €892,061 | -€10,044 | -1.1% |
| Operating profit (loss) | 9901 | -€196,087 | -€166,788 | +€29,299 | +14.9% |
| Financial income | 75/76B | €10,284 | €28,365 | +€18,081 | +175.8% |
| Recurring financial income | 75 | €10,284 | €28,365 | +€18,081 | +175.8% |
| Financial charges | 65/66B | €103,192 | €81,859 | -€21,333 | -20.7% |
| Recurring financial charges | 65 | €103,192 | €81,859 | -€21,333 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | -€288,995 | -€220,282 | +€68,713 | +23.8% |
| Income taxes | 67/77 | €553 | €402 | -€151 | -27.3% |
| Profit (loss) for the period | 9904 | -€289,548 | -€220,684 | +€68,864 | +23.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€289,548 | -€220,684 | +€68,864 | +23.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.