CONSTANZ: 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.
What changed
CONSTANZ
NACE 46.423, Wholesale of clothing, excluding workwear and underwear
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€7,819
2024 · €8,455-€635
Equity
€144,781
2024 · €136,962+€7,819
Cash
€380
2024 · €2,707-€2,327
Balance sheet total
€307,028
2024 · €298,766+€8,262
Largest movements
Assets
- Stocks and contracts +€16,682
up €16,682 (+6.0%), from €277,996 to €294,678
- Tangible fixed assets -€5,641
down €5,641 (-84.5%), from €6,677 to €1,036
Equity and liabilities
- Profit (loss) carried forward +€7,819
up €7,819 (+8.2%), from €95,575 to €103,394
- Tax, wage and social debts +€5,858
up €5,858 (+20.6%), from €28,383 to €34,241
of which Taxes: +€7,620
- Current portion of long-term debt -€3,228
down €3,228 (-74.7%), from €4,322 to €1,094
Income statement
- Gross operating margin -€30,892
down €30,892 (-17.5%), from €176,504 to €145,612
- Write-downs -€28,425
down €28,425 (-25.2%), from €112,727 to €84,302
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.
Result 2024
€8,455
Gross operating margin
-€30,892
Staff costs
+€991
Write-downs
+€28,425
Other operating charges
+€94
Financial income
-€0
Financial charges
+€148
Taxes
+€597
Result 2025
€7,819
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.
From operations
+€1,995
Investment
€0
Financing
-€4,322
Cash 2024
€2,707
From operations (derived)
+€1,995
Net result for the year
+€7,819
Depreciation
+€5,641
Stocks and contracts
-€16,682
Receivables within one year
+€452
Trade debts
-€1,093
Tax, wage and social debts
+€5,858
Financing
-€4,322
Debts after one year
-€1,094
Current portion of long-term debt
-€3,228
Cash 2025
€380
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €298,766 | €307,028 | +€8,262 | +2.8% |
| Fixed assets | 21/28 | €6,677 | €1,036 | -€5,641 | -84.5% |
| Tangible fixed assets | 22/27 | €6,677 | €1,036 | -€5,641 | -84.5% |
| Furniture and vehicles | 24 | €6,677 | €1,036 | -€5,641 | -84.5% |
| Current assets | 29/58 | €292,089 | €305,992 | +€13,903 | +4.8% |
| Stocks and contracts in progress | 3 | €277,996 | €294,678 | +€16,682 | +6.0% |
| Stocks | 30/36 | €277,996 | €294,678 | +€16,682 | +6.0% |
| Amounts receivable within one year | 40/41 | €11,386 | €10,934 | -€452 | -4.0% |
| Trade receivables | 40 | €11,140 | €10,934 | -€206 | -1.9% |
| Other amounts receivable | 41 | €245 | - | -€245 | |
| Cash at bank and in hand | 54/58 | €2,707 | €380 | -€2,327 | -86.0% |
| Total equity and liabilities | 10/49 | €298,766 | €307,028 | +€8,262 | +2.8% |
| Equity | 10/15 | €136,962 | €144,781 | +€7,819 | +5.7% |
| Contributions | 10/11 | €34,705 | €34,705 | = | 0.0% |
| Reserves | 13 | €6,682 | €6,682 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,211 | €3,211 | = | 0.0% |
| Distributable reserves | 133 | €3,471 | €3,471 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,575 | €103,394 | +€7,819 | +8.2% |
| Amounts payable | 17/49 | €161,804 | €162,247 | +€443 | +0.3% |
| Amounts payable after more than one year | 17 | €50,506 | €49,411 | -€1,094 | -2.2% |
| Financial debts | 170/4 | €38,111 | €37,017 | -€1,094 | -2.9% |
| Other amounts payable | 178/9 | €12,395 | €12,395 | = | 0.0% |
| Amounts payable within one year | 42/48 | €106,051 | €107,588 | +€1,537 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €4,322 | €1,094 | -€3,228 | -74.7% |
| Trade debts | 44 | €27,073 | €25,980 | -€1,093 | -4.0% |
| Suppliers | 440/4 | €27,073 | €25,980 | -€1,093 | -4.0% |
| Taxes, remuneration and social security | 45 | €28,383 | €34,241 | +€5,858 | +20.6% |
| Taxes | 450/3 | €23,673 | €31,293 | +€7,620 | +32.2% |
| Remuneration and social security | 454/9 | €4,710 | €2,947 | -€1,762 | -37.4% |
| Other amounts payable | 47/48 | €46,273 | €46,273 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €5,247 | €5,247 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €40,301 | €39,309 | -€991 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,641 | €5,641 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €112,727 | €84,302 | -€28,425 | -25.2% |
| Other operating charges | 640/8 | €1,491 | €1,397 | -€94 | -6.3% |
| Gross operating margin | 9900 | €176,504 | €145,612 | -€30,892 | -17.5% |
| Operating profit (loss) | 9901 | €16,344 | €14,963 | -€1,381 | -8.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €956 | €807 | -€148 | -15.5% |
| Recurring financial charges | 65 | €956 | €807 | -€148 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €15,388 | €14,156 | -€1,233 | -8.0% |
| Income taxes | 67/77 | €6,934 | €6,337 | -€597 | -8.6% |
| Profit (loss) for the period | 9904 | €8,455 | €7,819 | -€635 | -7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,455 | €7,819 | -€635 | -7.5% |
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 30 September 2026 via checked.be.