ConStat: 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.
ConStat
Largest movements
- Tangible fixed assets +€230,665
up €230,665 (+15.5%), from €1.5m to €1.7m
of which Land and buildings: +€235,718
- Cash +€66,806
up €66,806 (+203.2%), from €32,874 to €99,680
mainly Other debts (+€289,587) and Depreciation (+€78,903)
- Receivables within one year +€51,148
up €51,148 (+50.3%), from €101,597 to €152,745
of which Trade receivables: +€48,710
- Deferred charges and accrued income -€34,434
down €34,434 (-79.8%), from €43,141 to €8,707
- Other debts +€289,587
up €289,587 (+35.2%), from €823,797 to €1.1m
- Debts after one year -€38,667
down €38,667 (-12.3%), from €315,350 to €276,682
- Reserves +€32,786
up €32,786 (+64.3%), from €51,016 to €83,802
of which Distributable reserves: +€32,786
- Trade debts +€23,155
up €23,155 (+140.3%), from €16,500 to €39,654
- Gross operating margin +€53,409
up €53,409 (+32.4%), from €165,013 to €218,422
- Depreciation +€42,894
up €42,894 (+119.1%), from €36,009 to €78,903
- Taxes +€14,531
up €14,531 (+93.6%), from €15,519 to €30,050
- Staff costs +€7,555
up €7,555 (+30.0%), from €25,172 to €32,727
- Other operating charges +€4,613
up €4,613 (+58.3%), from €7,911 to €12,524
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 | €1,668,497 | €1,982,682 | +€314,185 | +18.8% |
| Fixed assets | 21/28 | €1,490,884 | €1,721,550 | +€230,665 | +15.5% |
| Tangible fixed assets | 22/27 | €1,490,884 | €1,721,550 | +€230,665 | +15.5% |
| Land and buildings | 22 | €806,439 | €1,042,157 | +€235,718 | +29.2% |
| Furniture and vehicles | 24 | €45,591 | €40,428 | -€5,163 | -11.3% |
| Assets under construction and advance payments | 27 | €638,855 | €638,965 | +€110 | 0.0% |
| Current assets | 29/58 | €177,612 | €261,132 | +€83,519 | +47.0% |
| Amounts receivable within one year | 40/41 | €101,597 | €152,745 | +€51,148 | +50.3% |
| Trade receivables | 40 | €101,590 | €150,301 | +€48,710 | +47.9% |
| Other amounts receivable | 41 | €7 | €2,444 | +€2,438 | +36059.6% |
| Cash at bank and in hand | 54/58 | €32,874 | €99,680 | +€66,806 | +203.2% |
| Deferred charges and accrued income | 490/1 | €43,141 | €8,707 | -€34,434 | -79.8% |
| Total equity and liabilities | 10/49 | €1,668,497 | €1,982,682 | +€314,185 | +18.8% |
| Equity | 10/15 | €319,616 | €352,402 | +€32,786 | +10.3% |
| Contributions | 10/11 | €268,600 | €268,600 | = | 0.0% |
| Reserves | 13 | €51,016 | €83,802 | +€32,786 | +64.3% |
| Tax-exempt reserves | 132 | €8,919 | €8,919 | = | 0.0% |
| Distributable reserves | 133 | €42,097 | €74,883 | +€32,786 | +77.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,348,881 | €1,630,280 | +€281,399 | +20.9% |
| Amounts payable after more than one year | 17 | €315,350 | €276,682 | -€38,667 | -12.3% |
| Financial debts | 170/4 | €315,350 | €276,682 | -€38,667 | -12.3% |
| Amounts payable within one year | 42/48 | €1,007,333 | €1,327,683 | +€320,350 | +31.8% |
| Current portion of amounts payable after more than one year | 42 | €138,156 | €138,667 | +€511 | +0.4% |
| Trade debts | 44 | €16,500 | €39,654 | +€23,155 | +140.3% |
| Suppliers | 440/4 | €16,500 | €39,654 | +€23,155 | +140.3% |
| Taxes, remuneration and social security | 45 | €28,880 | €35,977 | +€7,097 | +24.6% |
| Taxes | 450/3 | €19,874 | €24,663 | +€4,790 | +24.1% |
| Remuneration and social security | 454/9 | €9,006 | €11,314 | +€2,307 | +25.6% |
| Other amounts payable | 47/48 | €823,797 | €1,113,385 | +€289,587 | +35.2% |
| Accrued charges and deferred income | 492/3 | €26,198 | €25,914 | -€284 | -1.1% |
| Non-recurring operating income | 76A | - | €8,678 | +€8,678 | |
| Remuneration, social security and pensions | 62 | €25,172 | €32,727 | +€7,555 | +30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,009 | €78,903 | +€42,894 | +119.1% |
| Other operating charges | 640/8 | €7,911 | €12,524 | +€4,613 | +58.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €165,013 | €218,422 | +€53,409 | +32.4% |
| Operating profit (loss) | 9901 | €95,922 | €94,268 | -€1,653 | -1.7% |
| Financial income | 75/76B | €10 | €0 | -€9 | -96.0% |
| Recurring financial income | 75 | €10 | €0 | -€9 | -96.0% |
| Financial charges | 65/66B | €29,970 | €31,433 | +€1,462 | +4.9% |
| Recurring financial charges | 65 | €29,970 | €31,433 | +€1,462 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €65,961 | €62,836 | -€3,125 | -4.7% |
| Income taxes | 67/77 | €15,519 | €30,050 | +€14,531 | +93.6% |
| Profit (loss) for the period | 9904 | €50,441 | €32,786 | -€17,656 | -35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,441 | €32,786 | -€17,656 | -35.0% |
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 10 October 2026 via checked.be.