CONSTRUCT IT: 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 IT
Largest movements
- Cash +€267,115
up €267,115 (+576%), from €46,372 to €313,487
mainly Current investments (+€196,946) and Accrued charges and deferred income (+€25,000)
- Current investments -€196,946
no longer reported in 2025 (was €196,946)
- Receivables within one year -€17,597
down €17,597 (-50.2%), from €35,025 to €17,428
of which Trade receivables: -€16,254
- Tangible fixed assets -€6,105
down €6,105 (-31.1%), from €19,659 to €13,554
of which Furniture and vehicles: -€5,171
- Stocks and contracts -€5,100
down €5,100 (-59.3%), from €8,600 to €3,500
- Accrued charges and deferred income +€25,000
new in 2025: €25,000
- Other debts +€7,329
up €7,329 (+3.5%), from €208,037 to €215,366
- Reserves +€5,613
up €5,613 (+18.6%), from €30,179 to €35,792
of which Distributable reserves: +€5,613
- Gross operating margin +€3,495
up €3,495 (+39.3%), from €8,890 to €12,385
- Taxes +€1,093
up €1,093 (+108%), from €1,012 to €2,105
- Financial income +€452
up €452 (+43.7%), from €1,035 to €1,487
- Other operating charges -€300
no longer reported in 2025 (was €300)
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 | €308,801 | €349,030 | +€40,230 | +13.0% |
| Fixed assets | 21/28 | €19,659 | €13,554 | -€6,105 | -31.1% |
| Tangible fixed assets | 22/27 | €19,659 | €13,554 | -€6,105 | -31.1% |
| Plant, machinery and equipment | 23 | €3,579 | €2,645 | -€934 | -26.1% |
| Furniture and vehicles | 24 | €16,080 | €10,909 | -€5,171 | -32.2% |
| Current assets | 29/58 | €289,142 | €335,477 | +€46,335 | +16.0% |
| Stocks and contracts in progress | 3 | €8,600 | €3,500 | -€5,100 | -59.3% |
| Stocks | 30/36 | €8,600 | €3,500 | -€5,100 | -59.3% |
| Amounts receivable within one year | 40/41 | €35,025 | €17,428 | -€17,597 | -50.2% |
| Trade receivables | 40 | €32,787 | €16,534 | -€16,254 | -49.6% |
| Other amounts receivable | 41 | €2,238 | €895 | -€1,343 | -60.0% |
| Current investments | 50/53 | €196,946 | - | -€196,946 | |
| Cash at bank and in hand | 54/58 | €46,372 | €313,487 | +€267,115 | +576% |
| Deferred charges and accrued income | 490/1 | €2,199 | €1,061 | -€1,137 | -51.7% |
| Total equity and liabilities | 10/49 | €308,801 | €349,030 | +€40,230 | +13.0% |
| Equity | 10/15 | €99,522 | €105,134 | +€5,613 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €30,179 | €35,792 | +€5,613 | +18.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €28,319 | €33,932 | +€5,613 | +19.8% |
| Profit (loss) carried forward | 14 | €50,743 | €50,743 | = | 0.0% |
| Amounts payable | 17/49 | €209,279 | €243,896 | +€34,617 | +16.5% |
| Amounts payable within one year | 42/48 | €209,279 | €218,896 | +€9,617 | +4.6% |
| Trade debts | 44 | €148 | €2,512 | +€2,363 | +1,593% |
| Suppliers | 440/4 | €148 | €2,512 | +€2,363 | +1,593% |
| Taxes, remuneration and social security | 45 | €1,093 | €1,018 | -€76 | -6.9% |
| Taxes | 450/3 | €1,093 | €1,018 | -€76 | -6.9% |
| Other amounts payable | 47/48 | €208,037 | €215,366 | +€7,329 | +3.5% |
| Accrued charges and deferred income | 492/3 | - | €25,000 | +€25,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,042 | €6,105 | +€63 | +1.0% |
| Other operating charges | 640/8 | €300 | - | -€300 | |
| Gross operating margin | 9900 | €8,890 | €12,385 | +€3,495 | +39.3% |
| Operating profit (loss) | 9901 | €2,549 | €6,280 | +€3,731 | +146% |
| Financial income | 75/76B | €1,035 | €1,487 | +€452 | +43.7% |
| Recurring financial income | 75 | €1,035 | €1,487 | +€452 | +43.7% |
| Financial charges | 65/66B | €73 | €49 | -€24 | -32.8% |
| Recurring financial charges | 65 | €73 | €49 | -€24 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | €3,510 | €7,718 | +€4,208 | +120% |
| Income taxes | 67/77 | €1,012 | €2,105 | +€1,093 | +108% |
| Profit (loss) for the period | 9904 | €2,499 | €5,613 | +€3,114 | +125% |
| Profit (loss) for the period to be appropriated | 9905 | €2,499 | €5,613 | +€3,114 | +125% |
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.