CODE CONSTRUCT: 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.
CODE CONSTRUCT
Largest movements
- Stocks and contracts -€793,359
no longer reported in 2025 (was €793,359)
- Tangible fixed assets +€476,015
new in 2025: €476,015
- Financial fixed assets +€17,500
up €17,500 (+3535.4%), from €495 to €17,995
- Short-term financial debts -€475,000
no longer reported in 2025 (was €475,000)
- Reserves +€187,006
new in 2025: €187,006
- Other debts -€89,056
down €89,056 (-24.7%), from €361,084 to €272,028
- Provisions +€62,335
new in 2025: €62,335
- Trade debts +€30,250
up €30,250 (+7809.7%), from €387 to €30,637
- Gross operating margin +€249,821
up €249,821, from -€702 to €249,119
- Financial charges +€8,109
up €8,109 (+228.2%), from €3,553 to €11,663
- Other operating charges -€5,541
down €5,541 (-61.3%), from €9,031 to €3,491
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 | €794,292 | €494,452 | -€299,840 | -37.7% |
| Fixed assets | 21/28 | €495 | €494,010 | +€493,515 | +99700.1% |
| Tangible fixed assets | 22/27 | - | €476,015 | +€476,015 | |
| Land and buildings | 22 | - | €476,015 | +€476,015 | |
| Financial fixed assets | 28 | €495 | €17,995 | +€17,500 | +3535.4% |
| Current assets | 29/58 | €793,797 | €442 | -€793,355 | -99.9% |
| Stocks and contracts in progress | 3 | €793,359 | - | -€793,359 | |
| Stocks | 30/36 | €793,359 | - | -€793,359 | |
| Amounts receivable within one year | 40/41 | €438 | €438 | = | 0.0% |
| Other amounts receivable | 41 | €438 | €438 | = | 0.0% |
| Cash at bank and in hand | 54/58 | - | €3 | +€3 | |
| Total equity and liabilities | 10/49 | €794,292 | €494,452 | -€299,840 | -37.7% |
| Equity | 10/15 | -€42,179 | €129,451 | +€171,630 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | - | €187,006 | +€187,006 | |
| Tax-exempt reserves | 132 | - | €187,006 | +€187,006 | |
| Profit (loss) carried forward | 14 | -€62,179 | -€77,554 | -€15,375 | -24.7% |
| Provisions and deferred taxes | 16 | - | €62,335 | +€62,335 | |
| Deferred taxes | 168 | - | €62,335 | +€62,335 | |
| Amounts payable | 17/49 | €836,471 | €302,665 | -€533,806 | -63.8% |
| Amounts payable within one year | 42/48 | €836,471 | €302,665 | -€533,806 | -63.8% |
| Financial debts | 43 | €475,000 | - | -€475,000 | |
| Other loans | 439 | €475,000 | - | -€475,000 | |
| Trade debts | 44 | €387 | €30,637 | +€30,250 | +7809.7% |
| Suppliers | 440/4 | €387 | €30,637 | +€30,250 | +7809.7% |
| Other amounts payable | 47/48 | €361,084 | €272,028 | -€89,056 | -24.7% |
| Non-recurring operating income | 76A | - | €249,341 | +€249,341 | |
| Other operating charges | 640/8 | €9,031 | €3,491 | -€5,541 | -61.3% |
| Gross operating margin | 9900 | -€702 | €249,119 | +€249,821 | |
| Operating profit (loss) | 9901 | -€9,733 | €245,628 | +€255,361 | |
| Financial charges | 65/66B | €3,553 | €11,663 | +€8,109 | +228.2% |
| Recurring financial charges | 65 | €3,553 | €11,663 | +€8,109 | +228.2% |
| Profit (loss) for the period before taxes | 9903 | -€13,287 | €233,966 | +€247,252 | |
| Transfer to deferred taxes | 680 | - | €62,335 | +€62,335 | |
| Profit (loss) for the period | 9904 | -€13,287 | €171,630 | +€184,917 | |
| Transfer to tax-exempt reserves | 689 | - | €187,006 | +€187,006 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,287 | -€15,375 | -€2,089 | -15.7% |
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 7 October 2026 via checked.be.