CONSTRUCT S & D: 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 S & D
Largest movements
- Cash +€177,465
up €177,465 (+761.8%), from €23,294 to €200,759
mainly Accrued charges and deferred income (+€280,000) and Receivables within one year (+€100,801)
- Receivables within one year -€100,801
down €100,801 (-44.3%), from €227,549 to €126,748
of which Trade receivables: -€107,856
- Financial fixed assets -€10,000
down €10,000 (-90.9%), from €11,004 to €1,004
- Tangible fixed assets +€9,522
up €9,522 (+20.8%), from €45,749 to €55,271
of which Furniture and vehicles: +€15,966
- Deferred charges and accrued income -€8,398
down €8,398 (-71.7%), from €11,718 to €3,320
- Accrued charges and deferred income +€280,000
new in 2025: €280,000
- Profit (loss) carried forward -€188,433
down €188,433, from €88,630 to -€99,802
- Tax, wage and social debts -€33,844
down €33,844 (-57.4%), from €58,921 to €25,078
- Short-term financial debts -€30,374
down €30,374 (-94.8%), from €32,041 to €1,667
- Trade debts +€24,314
up €24,314 (+37.8%), from €64,358 to €88,673
- Gross operating margin -€199,912
down €199,912, from €118,846 to -€81,066
- Taxes -€22,116
down €22,116 (-97.5%), from €22,679 to €563
- Other operating charges -€7,172
down €7,172 (-44.9%), from €15,983 to €8,811
- Financial charges +€2,613
up €2,613 (+29.4%), from €8,899 to €11,512
- Staff costs -€2,341
no longer reported in 2025 (was €2,341)
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 | €319,314 | €387,102 | +€67,788 | +21.2% |
| Fixed assets | 21/28 | €56,753 | €56,275 | -€478 | -0.8% |
| Tangible fixed assets | 22/27 | €45,749 | €55,271 | +€9,522 | +20.8% |
| Plant, machinery and equipment | 23 | €14,301 | €9,636 | -€4,665 | -32.6% |
| Furniture and vehicles | 24 | €27,373 | €43,339 | +€15,966 | +58.3% |
| Other tangible fixed assets | 26 | €4,075 | €2,296 | -€1,780 | -43.7% |
| Financial fixed assets | 28 | €11,004 | €1,004 | -€10,000 | -90.9% |
| Current assets | 29/58 | €262,561 | €330,826 | +€68,266 | +26.0% |
| Amounts receivable within one year | 40/41 | €227,549 | €126,748 | -€100,801 | -44.3% |
| Trade receivables | 40 | €213,711 | €105,855 | -€107,856 | -50.5% |
| Other amounts receivable | 41 | €13,838 | €20,893 | +€7,055 | +51.0% |
| Cash at bank and in hand | 54/58 | €23,294 | €200,759 | +€177,465 | +761.8% |
| Deferred charges and accrued income | 490/1 | €11,718 | €3,320 | -€8,398 | -71.7% |
| Total equity and liabilities | 10/49 | €319,314 | €387,102 | +€67,788 | +21.2% |
| Equity | 10/15 | €113,035 | -€75,397 | -€188,433 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €5,805 | €5,805 | = | 0.0% |
| Non-distributable reserves | 130/1 | €805 | €805 | = | 0.0% |
| Legal reserve | 130 | €805 | - | -€805 | |
| Reserves not available under the articles | 1311 | - | €805 | +€805 | |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,630 | -€99,802 | -€188,433 | |
| Amounts payable | 17/49 | €206,279 | €462,499 | +€256,220 | +124.2% |
| Amounts payable after more than one year | 17 | €11,126 | €21,796 | +€10,670 | +95.9% |
| Financial debts | 170/4 | €11,126 | €21,796 | +€10,670 | +95.9% |
| Amounts payable within one year | 42/48 | €195,153 | €160,703 | -€34,450 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €11,333 | €11,628 | +€295 | +2.6% |
| Financial debts | 43 | €32,041 | €1,667 | -€30,374 | -94.8% |
| Credit institutions | 430/8 | €32,041 | €1,667 | -€30,374 | -94.8% |
| Trade debts | 44 | €64,358 | €88,673 | +€24,314 | +37.8% |
| Suppliers | 440/4 | €64,358 | €88,673 | +€24,314 | +37.8% |
| Advances received on contracts in progress | 46 | €2,113 | €16,113 | +€14,000 | +662.7% |
| Taxes, remuneration and social security | 45 | €58,921 | €25,078 | -€33,844 | -57.4% |
| Taxes | 450/3 | €58,921 | €25,078 | -€33,844 | -57.4% |
| Other amounts payable | 47/48 | €26,387 | €17,544 | -€8,843 | -33.5% |
| Accrued charges and deferred income | 492/3 | - | €280,000 | +€280,000 | |
| Non-recurring operating income | 76A | - | €53,731 | +€53,731 | |
| Remuneration, social security and pensions | 62 | €2,341 | - | -€2,341 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,977 | €26,035 | +€2,058 | +8.6% |
| Other operating charges | 640/8 | €15,983 | €8,811 | -€7,172 | -44.9% |
| Non-recurring operating charges | 66A | - | €60,917 | +€60,917 | |
| Gross operating margin | 9900 | €118,846 | -€81,066 | -€199,912 | |
| Operating profit (loss) | 9901 | €76,545 | -€176,829 | -€253,373 | |
| Financial income | 75/76B | €284 | €471 | +€186 | +65.6% |
| Recurring financial income | 75 | €284 | €471 | +€186 | +65.6% |
| Financial charges | 65/66B | €8,899 | €11,512 | +€2,613 | +29.4% |
| Recurring financial charges | 65 | €8,899 | €11,512 | +€2,613 | +29.4% |
| Profit (loss) for the period before taxes | 9903 | €67,930 | -€187,870 | -€255,800 | |
| Income taxes | 67/77 | €22,679 | €563 | -€22,116 | -97.5% |
| Profit (loss) for the period | 9904 | €45,251 | -€188,433 | -€233,684 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,251 | -€188,433 | -€233,684 |
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.