Construct Services JV: 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.
Construct Services JV
Largest movements
- Receivables within one year +€55,528
up €55,528 (+66.7%), from €83,205 to €138,733
of which Trade receivables: +€50,647
- Cash +€4,564
new in 2025: €4,564
mainly Trade debts (+€58,996) and Net result for the year (+€5,436)
- Trade debts +€58,996
up €58,996 (+489.0%), from €12,064 to €71,060
- Other debts -€6,024
no longer reported in 2025 (was €6,024)
- Reserves +€5,436
up €5,436 (+15.5%), from €34,975 to €40,411
- Tax, wage and social debts +€1,685
up €1,685 (+6.2%), from €27,141 to €28,826
- Write-downs +€7,205
new in 2025: €7,205
- Gross operating margin -€5,631
down €5,631 (-23.6%), from €23,849 to €18,218
- Taxes -€3,585
down €3,585 (-49.1%), from €7,299 to €3,713
- Financial charges +€1,332
up €1,332 (+52.0%), from €2,562 to €3,894
- Other operating charges +€1,123
up €1,123 (+87.6%), from €1,282 to €2,405
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 | €83,205 | €143,297 | +€60,092 | +72.2% |
| Current assets | 29/58 | €83,205 | €143,297 | +€60,092 | +72.2% |
| Amounts receivable within one year | 40/41 | €83,205 | €138,733 | +€55,528 | +66.7% |
| Trade receivables | 40 | €2,500 | €53,147 | +€50,647 | +2025.9% |
| Other amounts receivable | 41 | €80,705 | €85,586 | +€4,881 | +6.0% |
| Cash at bank and in hand | 54/58 | - | €4,564 | +€4,564 | |
| Total equity and liabilities | 10/49 | €83,205 | €143,297 | +€60,092 | +72.2% |
| Equity | 10/15 | €37,975 | €43,411 | +€5,436 | +14.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €34,975 | €40,411 | +€5,436 | +15.5% |
| Distributable reserves | 133 | €34,975 | €40,411 | +€5,436 | +15.5% |
| Amounts payable | 17/49 | €45,230 | €99,886 | +€54,657 | +120.8% |
| Amounts payable within one year | 42/48 | €45,230 | €99,886 | +€54,657 | +120.8% |
| Trade debts | 44 | €12,064 | €71,060 | +€58,996 | +489.0% |
| Suppliers | 440/4 | €12,064 | €71,060 | +€58,996 | +489.0% |
| Taxes, remuneration and social security | 45 | €27,141 | €28,826 | +€1,685 | +6.2% |
| Taxes | 450/3 | €27,141 | €28,826 | +€1,685 | +6.2% |
| Other amounts payable | 47/48 | €6,024 | - | -€6,024 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,205 | +€7,205 | |
| Other operating charges | 640/8 | €1,282 | €2,405 | +€1,123 | +87.6% |
| Gross operating margin | 9900 | €23,849 | €18,218 | -€5,631 | -23.6% |
| Operating profit (loss) | 9901 | €22,567 | €8,608 | -€13,960 | -61.9% |
| Financial income | 75/76B | €3,381 | €4,435 | +€1,054 | +31.2% |
| Recurring financial income | 75 | €3,381 | €4,435 | +€1,054 | +31.2% |
| Financial charges | 65/66B | €2,562 | €3,894 | +€1,332 | +52.0% |
| Recurring financial charges | 65 | €2,562 | €3,894 | +€1,332 | +52.0% |
| Profit (loss) for the period before taxes | 9903 | €23,387 | €9,149 | -€14,238 | -60.9% |
| Income taxes | 67/77 | €7,299 | €3,713 | -€3,585 | -49.1% |
| Profit (loss) for the period | 9904 | €16,088 | €5,436 | -€10,652 | -66.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,088 | €5,436 | -€10,652 | -66.2% |
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 6 October 2026 via checked.be.