Cervantes 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.
Cervantes Construct
Largest movements
- Cash +€146,540
up €146,540 (+337%), from €43,441 to €189,981
mainly Net result for the year (+€1.6m) and Receivables within one year (+€36,861)
- Reserves +€1.6m
up €1.6m (+21.1%), from €7.5m to €9.0m
- Debts after one year -€1.2m
down €1.2m (-100%), from €1.2m to €0
of which Financial debts: -€1.2m
- Accrued charges and deferred income -€222,354
down €222,354 (-99.9%), from €222,661 to €307
- Financial income -€3.5m
down €3.5m (-69.9%), from €5.0m to €1.5m
- Turnover +€222,000
new in 2025: €222,000
- Gross operating margin -€221,362
no longer reported in 2025 (was €221,362)
- Financial charges -€179,294
down €179,294 (-60.5%), from €296,275 to €116,980
- Taxes +€14,476
new in 2025: €14,476
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 | €11,395,826 | €11,505,505 | +€109,679 | +1.0% |
| Fixed assets | 21/28 | €11,300,000 | €11,300,000 | = | 0.0% |
| Financial fixed assets | 28 | €11,300,000 | €11,300,000 | = | 0.0% |
| Affiliated companies | 280/1 | - | €11,300,000 | +€11.3m | |
| Participating interests | 280 | - | €11,300,000 | +€11.3m | |
| Current assets | 29/58 | €95,826 | €205,505 | +€109,679 | +114% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €52,385 | €15,524 | -€36,861 | -70.4% |
| Trade receivables | 40 | €22,385 | €0 | -€22,385 | -100% |
| Other amounts receivable | 41 | €30,000 | €15,524 | -€14,476 | -48.3% |
| Cash at bank and in hand | 54/58 | €43,441 | €189,981 | +€146,540 | +337% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €11,395,826 | €11,505,505 | +€109,679 | +1.0% |
| Equity | 10/15 | €7,564,765 | €9,142,902 | +€1.6m | +20.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €7,464,765 | €9,042,902 | +€1.6m | +21.1% |
| Distributable reserves | 133 | €7,464,765 | €9,042,902 | +€1.6m | +21.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €3,831,061 | €2,362,602 | -€1.5m | -38.3% |
| Amounts payable after more than one year | 17 | €1,242,857 | €0 | -€1.2m | -100% |
| Financial debts | 170/4 | €1,242,857 | €0 | -€1.2m | -100% |
| Credit institutions | 173 | - | €0 | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,365,543 | €2,362,295 | -€3,248 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €1,242,857 | €1,242,857 | +€0 | 0.0% |
| Trade debts | 44 | €156 | €5,226 | +€5,070 | +3,250% |
| Suppliers | 440/4 | €156 | €5,226 | +€5,070 | +3,250% |
| Taxes, remuneration and social security | 45 | €11,364 | €10,099 | -€1,266 | -11.1% |
| Taxes | 450/3 | €11,364 | €10,099 | -€1,266 | -11.1% |
| Other amounts payable | 47/48 | €1,111,165 | €1,104,114 | -€7,051 | -0.6% |
| Accrued charges and deferred income | 492/3 | €222,661 | €307 | -€222,354 | -99.9% |
| Operating income | 70/76A | - | €222,000 | +€222,000 | |
| Turnover | 70 | - | €222,000 | +€222,000 | |
| Operating charges | 60/66A | - | €12,406 | +€12,406 | |
| Services and other goods | 61 | - | €11,280 | +€11,280 | |
| Other operating charges | 640/8 | €1,094 | €1,126 | +€33 | +3.0% |
| Gross operating margin | 9900 | €221,362 | - | -€221,362 | |
| Operating profit (loss) | 9901 | €220,268 | €209,594 | -€10,674 | -4.8% |
| Financial income | 75/76B | €4,978,301 | €1,500,000 | -€3.5m | -69.9% |
| Recurring financial income | 75 | €4,978,301 | €1,500,000 | -€3.5m | -69.9% |
| Income from financial fixed assets | 750 | - | €1,500,000 | +€1.5m | |
| Income from current assets | 751 | - | €0 | = | |
| Financial charges | 65/66B | €296,275 | €116,980 | -€179,294 | -60.5% |
| Recurring financial charges | 65 | €296,275 | €116,980 | -€179,294 | -60.5% |
| Debt charges | 650 | - | €116,627 | +€116,627 | |
| Other financial charges | 652/9 | - | €353 | +€353 | |
| Profit (loss) for the period before taxes | 9903 | €4,902,294 | €1,592,613 | -€3.3m | -67.5% |
| Income taxes | 67/77 | - | €14,476 | +€14,476 | |
| Taxes | 670/3 | - | €14,476 | +€14,476 | |
| Profit (loss) for the period | 9904 | €4,902,294 | €1,578,137 | -€3.3m | -67.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,902,294 | €1,578,137 | -€3.3m | -67.8% |
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 14 October 2026 via checked.be.