Concrete Physics: 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.
Concrete Physics
Largest movements
- Receivables within one year -€16,546
down €16,546 (-60.4%), from €27,410 to €10,864
of which Trade receivables: -€21,424
- Cash -€9,588
down €9,588 (-49.0%), from €19,584 to €9,996
mainly Trade debts (-€30,476) and Tax, wage and social debts (-€4,912)
- Tangible fixed assets -€5,195
down €5,195 (-51.7%), from €10,057 to €4,862
of which Other tangible fixed assets: -€3,311
- Intangible fixed assets +€3,307
new in 2025: €3,307
- Trade debts -€30,476
down €30,476 (-95.3%), from €31,976 to €1,501
- Reserves +€5,900
new in 2025: €5,900
- Tax, wage and social debts -€4,912
down €4,912 (-89.3%), from €5,502 to €590
of which Taxes: -€4,912
- Accrued charges and deferred income +€3,897
up €3,897, from €0 to €3,897
- Debts after one year -€2,078
down €2,078 (-56.5%), from €3,680 to €1,602
- Gross operating margin -€4,658
down €4,658 (-21.0%), from €22,137 to €17,479
- Financial charges +€1,701
up €1,701 (+299%), from €568 to €2,269
- Other operating charges -€1,319
down €1,319 (-56.5%), from €2,335 to €1,016
- Taxes -€1,129
down €1,129 (-24.9%), from €4,534 to €3,404
- Depreciation -€842
down €842 (-13.6%), from €6,205 to €5,363
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 | €63,249 | €35,657 | -€27,592 | -43.6% |
| Fixed assets | 21/28 | €15,907 | €14,469 | -€1,438 | -9.0% |
| Intangible fixed assets | 21 | - | €3,307 | +€3,307 | |
| Tangible fixed assets | 22/27 | €10,057 | €4,862 | -€5,195 | -51.7% |
| Plant, machinery and equipment | 23 | €5,575 | €3,739 | -€1,837 | -32.9% |
| Furniture and vehicles | 24 | €115 | €68 | -€47 | -41.0% |
| Other tangible fixed assets | 26 | €4,367 | €1,056 | -€3,311 | -75.8% |
| Financial fixed assets | 28 | €5,850 | €6,300 | +€450 | +7.7% |
| Current assets | 29/58 | €47,342 | €21,188 | -€26,154 | -55.2% |
| Amounts receivable within one year | 40/41 | €27,410 | €10,864 | -€16,546 | -60.4% |
| Trade receivables | 40 | €21,424 | - | -€21,424 | |
| Other amounts receivable | 41 | €5,986 | €10,864 | +€4,878 | +81.5% |
| Cash at bank and in hand | 54/58 | €19,584 | €9,996 | -€9,588 | -49.0% |
| Deferred charges and accrued income | 490/1 | €349 | €328 | -€21 | -6.0% |
| Total equity and liabilities | 10/49 | €63,249 | €35,657 | -€27,592 | -43.6% |
| Equity | 10/15 | €20,068 | €25,989 | +€5,922 | +29.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €5,900 | +€5,900 | |
| Distributable reserves | 133 | - | €5,900 | +€5,900 | |
| Profit (loss) carried forward | 14 | €1,468 | €1,489 | +€22 | +1.5% |
| Amounts payable | 17/49 | €43,182 | €9,668 | -€33,514 | -77.6% |
| Amounts payable after more than one year | 17 | €3,680 | €1,602 | -€2,078 | -56.5% |
| Financial debts | 170/4 | €3,680 | €1,602 | -€2,078 | -56.5% |
| Amounts payable within one year | 42/48 | €39,501 | €4,169 | -€35,333 | -89.4% |
| Current portion of amounts payable after more than one year | 42 | €2,014 | €2,078 | +€64 | +3.2% |
| Financial debts | 43 | €10 | - | -€10 | |
| Credit institutions | 430/8 | €10 | - | -€10 | |
| Trade debts | 44 | €31,976 | €1,501 | -€30,476 | -95.3% |
| Suppliers | 440/4 | €31,976 | €1,501 | -€30,476 | -95.3% |
| Taxes, remuneration and social security | 45 | €5,502 | €590 | -€4,912 | -89.3% |
| Taxes | 450/3 | €5,502 | €590 | -€4,912 | -89.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | €3,897 | +€3,897 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,205 | €5,363 | -€842 | -13.6% |
| Other operating charges | 640/8 | €2,335 | €1,016 | -€1,319 | -56.5% |
| Gross operating margin | 9900 | €22,137 | €17,479 | -€4,658 | -21.0% |
| Operating profit (loss) | 9901 | €13,598 | €11,100 | -€2,498 | -18.4% |
| Financial income | 75/76B | €189 | €495 | +€306 | +162% |
| Recurring financial income | 75 | €189 | €495 | +€306 | +162% |
| Financial charges | 65/66B | €568 | €2,269 | +€1,701 | +299% |
| Recurring financial charges | 65 | €568 | €2,269 | +€1,701 | +299% |
| Profit (loss) for the period before taxes | 9903 | €13,218 | €9,326 | -€3,892 | -29.4% |
| Income taxes | 67/77 | €4,534 | €3,404 | -€1,129 | -24.9% |
| Profit (loss) for the period | 9904 | €8,684 | €5,922 | -€2,763 | -31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,684 | €5,922 | -€2,763 | -31.8% |
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.