Construct - Ives: 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.
What changed
Construct - Ives
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4,506
2024 · €19,396-€14,891
Equity
€116,866
2024 · €112,360+€4,506
Cash
€17,667
2024 · €17,998-€331
Balance sheet total
€976,054
2024 · €963,137+€12,917
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Other debts +€48,552
up €48,552 (+99.3%), from €48,916 to €97,469
- Debts after one year -€47,477
down €47,477 (-6.5%), from €735,212 to €687,734
Income statement
- Depreciation +€36,679
up €36,679 (+105%), from €35,006 to €71,685
- Gross operating margin +€23,064
up €23,064 (+24.1%), from €95,712 to €118,775
- Taxes +€2,447
up €2,447 (+673%), from €364 to €2,811
- Financial charges -€1,196
down €1,196 (-3.2%), from €37,148 to €35,952
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
€19,396
Gross operating margin
+€23,064
Depreciation
-€36,679
Other operating charges
-€21
Financial income
-€3
Financial charges
+€1,196
Taxes
-€2,447
Result 2025
€4,506
raises the resultlowers the result
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.
From operations
+€125,120
Investment
-€79,705
Financing
-€45,746
Cash 2024
€17,998
From operations (derived)
+€125,120
Net result for the year
+€4,506
Depreciation
+€71,685
Receivables within one year
-€5,027
Deferred charges and accrued income
-€201
Trade debts
+€726
Tax, wage and social debts
+€4,174
Other debts
+€48,552
Accrued charges and deferred income
+€704
Investment (derived)
-€79,705
Investment in fixed assets (net)
-€79,705
Financing
-€45,746
Debts after one year
-€47,477
Current portion of long-term debt
+€1,732
Cash 2025
€17,667
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €963,137 | €976,054 | +€12,917 | +1.3% |
| Fixed assets | 21/28 | €898,683 | €906,703 | +€8,020 | +0.9% |
| Tangible fixed assets | 22/27 | €898,683 | €906,703 | +€8,020 | +0.9% |
| Land and buildings | 22 | €891,144 | €897,220 | +€6,077 | +0.7% |
| Plant, machinery and equipment | 23 | €664 | €1,597 | +€934 | +141% |
| Furniture and vehicles | 24 | €6,876 | €7,885 | +€1,009 | +14.7% |
| Current assets | 29/58 | €64,454 | €69,351 | +€4,897 | +7.6% |
| Amounts receivable within one year | 40/41 | €45,216 | €50,243 | +€5,027 | +11.1% |
| Trade receivables | 40 | €26,079 | €35,641 | +€9,561 | +36.7% |
| Other amounts receivable | 41 | €19,136 | €14,602 | -€4,534 | -23.7% |
| Cash at bank and in hand | 54/58 | €17,998 | €17,667 | -€331 | -1.8% |
| Deferred charges and accrued income | 490/1 | €1,240 | €1,441 | +€201 | +16.2% |
| Total equity and liabilities | 10/49 | €963,137 | €976,054 | +€12,917 | +1.3% |
| Equity | 10/15 | €112,360 | €116,866 | +€4,506 | +4.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €114,505 | €114,505 | = | 0.0% |
| Distributable reserves | 133 | €114,505 | €114,505 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,145 | -€2,639 | +€4,506 | +63.1% |
| Amounts payable | 17/49 | €850,777 | €859,189 | +€8,412 | +1.0% |
| Amounts payable after more than one year | 17 | €735,212 | €687,734 | -€47,477 | -6.5% |
| Financial debts | 170/4 | €735,212 | €687,734 | -€47,477 | -6.5% |
| Amounts payable within one year | 42/48 | €110,905 | €166,090 | +€55,184 | +49.8% |
| Current portion of amounts payable after more than one year | 42 | €45,746 | €47,477 | +€1,732 | +3.8% |
| Trade debts | 44 | €4,428 | €5,155 | +€726 | +16.4% |
| Suppliers | 440/4 | €4,428 | €5,155 | +€726 | +16.4% |
| Taxes, remuneration and social security | 45 | €11,815 | €15,989 | +€4,174 | +35.3% |
| Taxes | 450/3 | €9,715 | €13,889 | +€4,174 | +43.0% |
| Remuneration and social security | 454/9 | €2,100 | €2,100 | = | 0.0% |
| Other amounts payable | 47/48 | €48,916 | €97,469 | +€48,552 | +99.3% |
| Accrued charges and deferred income | 492/3 | €4,660 | €5,364 | +€704 | +15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,006 | €71,685 | +€36,679 | +105% |
| Other operating charges | 640/8 | €3,801 | €3,822 | +€21 | +0.6% |
| Gross operating margin | 9900 | €95,712 | €118,775 | +€23,064 | +24.1% |
| Operating profit (loss) | 9901 | €56,905 | €43,268 | -€13,637 | -24.0% |
| Financial income | 75/76B | €3 | €0 | -€3 | -96.3% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -96.3% |
| Financial charges | 65/66B | €37,148 | €35,952 | -€1,196 | -3.2% |
| Recurring financial charges | 65 | €37,148 | €35,952 | -€1,196 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €19,760 | €7,316 | -€12,444 | -63.0% |
| Income taxes | 67/77 | €364 | €2,811 | +€2,447 | +673% |
| Profit (loss) for the period | 9904 | €19,396 | €4,506 | -€14,891 | -76.8% |
| Profit (loss) for the period to be appropriated | 9905 | €19,396 | €4,506 | -€14,891 | -76.8% |
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 27 October 2026 via checked.be.