CENTAUR 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.
CENTAUR Construct
Largest movements
- Cash +€38,370
up €38,370 (+139%), from €27,634 to €66,004
mainly Net result for the year (+€36,665) and Trade debts (+€12,948)
- Receivables within one year +€22,784
up €22,784 (+26.5%), from €86,138 to €108,922
of which Trade receivables: +€16,659
- Tangible fixed assets -€8,671
down €8,671 (-59.8%), from €14,506 to €5,836
of which Furniture and vehicles: -€8,457
- Deferred charges and accrued income -€6,490
no longer reported in 2025 (was €6,490)
- Stocks and contracts -€3,311
down €3,311 (-4.7%), from €70,630 to €67,319
- Reserves +€13,165
up €13,165 (+7.2%), from €181,631 to €194,796
of which Distributable reserves: +€13,165
- Trade debts +€12,948
up €12,948 (+294%), from €4,399 to €17,347
- Tax, wage and social debts +€10,709
up €10,709 (+106%), from €10,135 to €20,844
of which Remuneration and social security: +€14,468
- Accrued charges and deferred income +€6,345
new in 2025: €6,345
- Depreciation -€8,819
down €8,819 (-47.0%), from €18,770 to €9,951
- Gross operating margin -€8,730
down €8,730 (-11.8%), from €73,751 to €65,021
- Financial charges -€741
down €741 (-86.7%), from €855 to €114
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 | €205,398 | €248,080 | +€42,682 | +20.8% |
| Fixed assets | 21/28 | €14,506 | €5,836 | -€8,671 | -59.8% |
| Tangible fixed assets | 22/27 | €14,506 | €5,836 | -€8,671 | -59.8% |
| Plant, machinery and equipment | 23 | €3,878 | €3,665 | -€214 | -5.5% |
| Furniture and vehicles | 24 | €10,628 | €2,171 | -€8,457 | -79.6% |
| Current assets | 29/58 | €190,892 | €242,245 | +€51,353 | +26.9% |
| Stocks and contracts in progress | 3 | €70,630 | €67,319 | -€3,311 | -4.7% |
| Contracts in progress | 37 | €70,630 | €67,319 | -€3,311 | -4.7% |
| Amounts receivable within one year | 40/41 | €86,138 | €108,922 | +€22,784 | +26.5% |
| Trade receivables | 40 | €80,585 | €97,244 | +€16,659 | +20.7% |
| Other amounts receivable | 41 | €5,553 | €11,678 | +€6,125 | +110% |
| Cash at bank and in hand | 54/58 | €27,634 | €66,004 | +€38,370 | +139% |
| Deferred charges and accrued income | 490/1 | €6,490 | - | -€6,490 | |
| Total equity and liabilities | 10/49 | €205,398 | €248,080 | +€42,682 | +20.8% |
| Equity | 10/15 | €188,131 | €201,961 | +€13,830 | +7.4% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €181,631 | €194,796 | +€13,165 | +7.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €181,631 | €194,796 | +€13,165 | +7.2% |
| Profit (loss) carried forward | 14 | €0 | €665 | +€665 | |
| Amounts payable | 17/49 | €17,268 | €46,119 | +€28,852 | +167% |
| Amounts payable within one year | 42/48 | €17,268 | €39,774 | +€22,506 | +130% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €230 | - | -€230 | |
| Credit institutions | 430/8 | €230 | - | -€230 | |
| Trade debts | 44 | €4,399 | €17,347 | +€12,948 | +294% |
| Suppliers | 440/4 | €4,399 | €17,347 | +€12,948 | +294% |
| Taxes, remuneration and social security | 45 | €10,135 | €20,844 | +€10,709 | +106% |
| Taxes | 450/3 | €10,135 | €6,377 | -€3,758 | -37.1% |
| Remuneration and social security | 454/9 | - | €14,468 | +€14,468 | |
| Other amounts payable | 47/48 | €2,503 | €1,582 | -€921 | -36.8% |
| Accrued charges and deferred income | 492/3 | - | €6,345 | +€6,345 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,770 | €9,951 | -€8,819 | -47.0% |
| Other operating charges | 640/8 | €1,601 | €1,915 | +€314 | +19.6% |
| Gross operating margin | 9900 | €73,751 | €65,021 | -€8,730 | -11.8% |
| Operating profit (loss) | 9901 | €53,381 | €53,155 | -€225 | -0.4% |
| Financial income | 75/76B | €15 | - | -€15 | |
| Recurring financial income | 75 | €15 | - | -€15 | |
| Financial charges | 65/66B | €855 | €114 | -€741 | -86.7% |
| Recurring financial charges | 65 | €855 | €114 | -€741 | -86.7% |
| Profit (loss) for the period before taxes | 9903 | €52,541 | €53,042 | +€501 | +1.0% |
| Income taxes | 67/77 | €16,524 | €16,377 | -€147 | -0.9% |
| Profit (loss) for the period | 9904 | €36,017 | €36,665 | +€648 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,017 | €36,665 | +€648 | +1.8% |
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.