CON-STRUCT: 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.
CON-STRUCT
Largest movements
- Stocks and contracts +€1.7m
up €1.7m (+187%), from €916,578 to €2.6m
- Receivables within one year +€60,876
up €60,876 (+10.0%), from €610,476 to €671,352
of which Other amounts receivable: +€271,500
- Accrued charges and deferred income +€1.2m
new in 2025: €1.2m
- Debts after one year +€480,607
up €480,607 (+123%), from €390,000 to €870,607
- Trade debts -€114,527
down €114,527 (-35.4%), from €323,634 to €209,108
- Short-term financial debts +€100,000
new in 2025: €100,000
- Reserves +€50,000
up €50,000 (+8.9%), from €564,360 to €614,360
- Gross operating margin -€62,009
down €62,009 (-49.2%), from €125,952 to €63,943
- Financial income +€45,934
up €45,934 (+190%), from €24,239 to €70,173
- Financial charges +€28,783
up €28,783 (+113%), from €25,495 to €54,278
- Taxes -€20,537
down €20,537 (-46.1%), from €44,561 to €24,025
- Other operating charges -€6,105
down €6,105 (-84.9%), from €7,189 to €1,085
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 | €1,706,524 | €3,446,683 | +€1.7m | +102% |
| Fixed assets | 21/28 | €39,776 | €36,151 | -€3,624 | -9.1% |
| Tangible fixed assets | 22/27 | €39,253 | €35,629 | -€3,624 | -9.2% |
| Land and buildings | 22 | €28,085 | €24,740 | -€3,345 | -11.9% |
| Plant, machinery and equipment | 23 | €791 | €512 | -€279 | -35.3% |
| Furniture and vehicles | 24 | €10,377 | €10,377 | = | 0.0% |
| Financial fixed assets | 28 | €522 | €522 | = | 0.0% |
| Current assets | 29/58 | €1,666,748 | €3,410,532 | +€1.7m | +105% |
| Stocks and contracts in progress | 3 | €916,578 | €2,633,407 | +€1.7m | +187% |
| Stocks | 30/36 | €916,578 | €2,633,407 | +€1.7m | +187% |
| Amounts receivable within one year | 40/41 | €610,476 | €671,352 | +€60,876 | +10.0% |
| Trade receivables | 40 | €498,328 | €287,704 | -€210,624 | -42.3% |
| Other amounts receivable | 41 | €112,148 | €383,648 | +€271,500 | +242% |
| Cash at bank and in hand | 54/58 | €108,165 | €76,871 | -€31,293 | -28.9% |
| Deferred charges and accrued income | 490/1 | €31,530 | €28,902 | -€2,628 | -8.3% |
| Total equity and liabilities | 10/49 | €1,706,524 | €3,446,683 | +€1.7m | +102% |
| Equity | 10/15 | €657,022 | €708,126 | +€51,104 | +7.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €564,360 | €614,360 | +€50,000 | +8.9% |
| Distributable reserves | 133 | €564,360 | €614,360 | +€50,000 | +8.9% |
| Profit (loss) carried forward | 14 | €74,062 | €75,166 | +€1,104 | +1.5% |
| Amounts payable | 17/49 | €1,049,503 | €2,738,557 | +€1.7m | +161% |
| Amounts payable after more than one year | 17 | €390,000 | €870,607 | +€480,607 | +123% |
| Financial debts | 170/4 | €390,000 | €870,607 | +€480,607 | +123% |
| Amounts payable within one year | 42/48 | €659,503 | €653,600 | -€5,902 | -0.9% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €323,634 | €209,108 | -€114,527 | -35.4% |
| Suppliers | 440/4 | €323,634 | €209,108 | -€114,527 | -35.4% |
| Taxes, remuneration and social security | 45 | €35,868 | €44,493 | +€8,625 | +24.0% |
| Taxes | 450/3 | €35,868 | €44,493 | +€8,625 | +24.0% |
| Other amounts payable | 47/48 | €300,000 | €300,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €1,214,350 | +€1.2m | |
| Non-recurring operating income | 76A | €14,536 | €0 | -€14,536 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,624 | €3,624 | = | 0.0% |
| Other operating charges | 640/8 | €7,189 | €1,085 | -€6,105 | -84.9% |
| Gross operating margin | 9900 | €125,952 | €63,943 | -€62,009 | -49.2% |
| Operating profit (loss) | 9901 | €115,139 | €59,234 | -€55,905 | -48.6% |
| Financial income | 75/76B | €24,239 | €70,173 | +€45,934 | +190% |
| Recurring financial income | 75 | €24,239 | €70,173 | +€45,934 | +190% |
| Financial charges | 65/66B | €25,495 | €54,278 | +€28,783 | +113% |
| Recurring financial charges | 65 | €25,495 | €54,278 | +€28,783 | +113% |
| Profit (loss) for the period before taxes | 9903 | €113,883 | €75,129 | -€38,754 | -34.0% |
| Income taxes | 67/77 | €44,561 | €24,025 | -€20,537 | -46.1% |
| Profit (loss) for the period | 9904 | €69,322 | €51,104 | -€18,217 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €69,322 | €51,104 | -€18,217 | -26.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.