CONSTRUCT: 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.
CONSTRUCT
Largest movements
- Receivables within one year -€342,544
down €342,544 (-39.8%), from €860,773 to €518,229
of which Other amounts receivable: -€259,882
- Stocks and contracts -€238,027
down €238,027 (-17.5%), from €1.4m to €1.1m
of which Stocks: -€224,027
- Deferred charges and accrued income +€23,498
up €23,498 (+285.4%), from €8,233 to €31,731
- Current portion of long-term debt -€401,554
down €401,554 (-98.5%), from €407,662 to €6,108
- Trade debts -€68,189
down €68,189 (-50.8%), from €134,257 to €66,068
- Other debts -€48,764
down €48,764 (-3.5%), from €1.4m to €1.3m
- Profit (loss) carried forward -€27,568
new in 2025: -€27,568
- Gross operating margin -€129,027
down €129,027 (-62.8%), from €205,367 to €76,341
- Financial charges -€60,881
down €60,881 (-84.7%), from €71,881 to €11,000
- Staff costs -€8,586
down €8,586 (-8.8%), from €97,036 to €88,450
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 | €2,257,098 | €1,698,215 | -€558,883 | -24.8% |
| Fixed assets | 21/28 | €15,061 | €9,639 | -€5,422 | -36.0% |
| Tangible fixed assets | 22/27 | €14,561 | €9,139 | -€5,422 | -37.2% |
| Plant, machinery and equipment | 23 | €1,713 | €1,383 | -€330 | -19.3% |
| Furniture and vehicles | 24 | €12,848 | €7,756 | -€5,092 | -39.6% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €2,242,037 | €1,688,575 | -€553,462 | -24.7% |
| Stocks and contracts in progress | 3 | €1,360,304 | €1,122,277 | -€238,027 | -17.5% |
| Stocks | 30/36 | €1,346,304 | €1,122,277 | -€224,027 | -16.6% |
| Contracts in progress | 37 | €14,000 | - | -€14,000 | |
| Amounts receivable within one year | 40/41 | €860,773 | €518,229 | -€342,544 | -39.8% |
| Trade receivables | 40 | €145,603 | €62,941 | -€82,662 | -56.8% |
| Other amounts receivable | 41 | €715,169 | €455,288 | -€259,882 | -36.3% |
| Cash at bank and in hand | 54/58 | €12,727 | €16,339 | +€3,612 | +28.4% |
| Deferred charges and accrued income | 490/1 | €8,233 | €31,731 | +€23,498 | +285.4% |
| Total equity and liabilities | 10/49 | €2,257,098 | €1,698,215 | -€558,883 | -24.8% |
| Equity | 10/15 | €304,246 | €276,677 | -€27,568 | -9.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €298,046 | €298,046 | = | 0.0% |
| Distributable reserves | 133 | €298,046 | €298,046 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€27,568 | -€27,568 | |
| Amounts payable | 17/49 | €1,952,852 | €1,421,537 | -€531,315 | -27.2% |
| Amounts payable after more than one year | 17 | €6,108 | - | -€6,108 | |
| Financial debts | 170/4 | €6,108 | - | -€6,108 | |
| Amounts payable within one year | 42/48 | €1,946,744 | €1,421,537 | -€525,206 | -27.0% |
| Current portion of amounts payable after more than one year | 42 | €407,662 | €6,108 | -€401,554 | -98.5% |
| Financial debts | 43 | €8,516 | €16,980 | +€8,463 | +99.4% |
| Credit institutions | 430/8 | €8,516 | €16,980 | +€8,463 | +99.4% |
| Trade debts | 44 | €134,257 | €66,068 | -€68,189 | -50.8% |
| Suppliers | 440/4 | €134,257 | €66,068 | -€68,189 | -50.8% |
| Taxes, remuneration and social security | 45 | €20,306 | €5,144 | -€15,163 | -74.7% |
| Taxes | 450/3 | €11,217 | - | -€11,217 | |
| Remuneration and social security | 454/9 | €9,089 | €5,144 | -€3,945 | -43.4% |
| Other amounts payable | 47/48 | €1,376,003 | €1,327,238 | -€48,764 | -3.5% |
| Remuneration, social security and pensions | 62 | €97,036 | €88,450 | -€8,586 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,635 | €5,791 | +€156 | +2.8% |
| Other operating charges | 640/8 | €363 | €213 | -€150 | -41.4% |
| Gross operating margin | 9900 | €205,367 | €76,341 | -€129,027 | -62.8% |
| Operating profit (loss) | 9901 | €102,334 | -€18,112 | -€120,446 | |
| Financial income | 75/76B | €115 | €1,543 | +€1,429 | +1246.9% |
| Recurring financial income | 75 | €115 | €1,543 | +€1,429 | +1246.9% |
| Financial charges | 65/66B | €71,881 | €11,000 | -€60,881 | -84.7% |
| Recurring financial charges | 65 | €71,881 | €11,000 | -€60,881 | -84.7% |
| Profit (loss) for the period before taxes | 9903 | €30,568 | -€27,568 | -€58,136 | |
| Income taxes | 67/77 | €1,422 | - | -€1,422 | |
| Profit (loss) for the period | 9904 | €29,145 | -€27,568 | -€56,713 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,145 | -€27,568 | -€56,713 |
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 12 October 2026 via checked.be.