Constreno: 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.
Constreno
Largest movements
- Cash -€311,628
down €311,628 (-51.7%), from €602,898 to €291,270
mainly Contributions, distributions and other (-€343,506) and Stocks and contracts (-€31,517)
- Tangible fixed assets -€61,400
down €61,400 (-18.3%), from €334,656 to €273,256
of which Furniture and vehicles: -€32,153
- Stocks and contracts +€31,517
up €31,517 (+22.8%), from €138,519 to €170,036
- Deferred charges and accrued income -€29,920
down €29,920 (-63.4%), from €47,179 to €17,259
- Receivables within one year +€14,565
up €14,565 (+30.3%), from €47,999 to €62,564
of which Other amounts receivable: +€8,695
- Reserves -€342,680
down €342,680 (-40.6%), from €844,122 to €501,441
- Debts after one year -€22,708
down €22,708 (-13.2%), from €172,546 to €149,838
- Gross operating margin -€32,642
down €32,642 (-9.8%), from €332,737 to €300,095
- Taxes -€7,640
down €7,640 (-58.2%), from €13,120 to €5,480
- Staff costs -€4,907
down €4,907 (-2.2%), from €222,577 to €217,670
- Depreciation +€3,502
up €3,502 (+6.0%), from €57,897 to €61,400
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 | €1,181,251 | €814,386 | -€366,865 | -31.1% |
| Fixed assets | 21/28 | €334,656 | €273,256 | -€61,400 | -18.3% |
| Tangible fixed assets | 22/27 | €334,656 | €273,256 | -€61,400 | -18.3% |
| Land and buildings | 22 | €203,173 | €174,295 | -€28,879 | -14.2% |
| Plant, machinery and equipment | 23 | €506 | €138 | -€369 | -72.8% |
| Furniture and vehicles | 24 | €130,977 | €98,824 | -€32,153 | -24.5% |
| Current assets | 29/58 | €846,595 | €541,130 | -€305,465 | -36.1% |
| Stocks and contracts in progress | 3 | €138,519 | €170,036 | +€31,517 | +22.8% |
| Contracts in progress | 37 | €138,519 | €170,036 | +€31,517 | +22.8% |
| Amounts receivable within one year | 40/41 | €47,999 | €62,564 | +€14,565 | +30.3% |
| Trade receivables | 40 | €20,419 | €26,289 | +€5,870 | +28.8% |
| Other amounts receivable | 41 | €27,580 | €36,275 | +€8,695 | +31.5% |
| Current investments | 50/53 | €10,000 | - | -€10,000 | |
| Cash at bank and in hand | 54/58 | €602,898 | €291,270 | -€311,628 | -51.7% |
| Deferred charges and accrued income | 490/1 | €47,179 | €17,259 | -€29,920 | -63.4% |
| Total equity and liabilities | 10/49 | €1,181,251 | €814,386 | -€366,865 | -31.1% |
| Equity | 10/15 | €894,122 | €551,441 | -€342,680 | -38.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €844,122 | €501,441 | -€342,680 | -40.6% |
| Distributable reserves | 133 | €844,122 | €501,441 | -€342,680 | -40.6% |
| Amounts payable | 17/49 | €287,130 | €262,945 | -€24,185 | -8.4% |
| Amounts payable after more than one year | 17 | €172,546 | €149,838 | -€22,708 | -13.2% |
| Financial debts | 170/4 | €172,546 | €149,838 | -€22,708 | -13.2% |
| Amounts payable within one year | 42/48 | €100,350 | €109,285 | +€8,935 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €21,971 | €22,708 | +€737 | +3.4% |
| Trade debts | 44 | €46,694 | €53,176 | +€6,481 | +13.9% |
| Suppliers | 440/4 | €46,694 | €53,176 | +€6,481 | +13.9% |
| Taxes, remuneration and social security | 45 | €12,047 | €9,661 | -€2,386 | -19.8% |
| Taxes | 450/3 | €3,321 | €3,669 | +€348 | +10.5% |
| Remuneration and social security | 454/9 | €8,725 | €5,992 | -€2,733 | -31.3% |
| Other amounts payable | 47/48 | €19,637 | €23,741 | +€4,103 | +20.9% |
| Accrued charges and deferred income | 492/3 | €14,235 | €3,822 | -€10,412 | -73.1% |
| Non-recurring operating income | 76A | €335 | €1,349 | +€1,014 | +302.6% |
| Remuneration, social security and pensions | 62 | €222,577 | €217,670 | -€4,907 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,897 | €61,400 | +€3,502 | +6.0% |
| Other operating charges | 640/8 | €9,928 | €9,306 | -€622 | -6.3% |
| Gross operating margin | 9900 | €332,737 | €300,095 | -€32,642 | -9.8% |
| Operating profit (loss) | 9901 | €42,335 | €11,719 | -€30,615 | -72.3% |
| Financial income | 75/76B | €7,315 | €4,847 | -€2,468 | -33.7% |
| Recurring financial income | 75 | €7,315 | €4,847 | -€2,468 | -33.7% |
| Financial charges | 65/66B | €10,752 | €10,260 | -€492 | -4.6% |
| Recurring financial charges | 65 | €10,752 | €10,260 | -€492 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €38,898 | €6,306 | -€32,592 | -83.8% |
| Income taxes | 67/77 | €13,120 | €5,480 | -€7,640 | -58.2% |
| Profit (loss) for the period | 9904 | €25,777 | €826 | -€24,952 | -96.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,777 | €826 | -€24,952 | -96.8% |
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 9 October 2026 via checked.be.