CONSTRUCT -TIM: 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.
What changed
CONSTRUCT -TIM
NACE 41.001, General construction of residential buildings
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€241,655
2023 · €83,493+€158,162
Equity
€440,899
2023 · €199,244+€241,655
Cash
€341,889
2023 · €342,026-€137
Balance sheet total
€589,443
2023 · €398,732+€190,711
Largest movements
Assets
- Stocks and contracts +€110,000
new in 2024: €110,000
- Receivables within one year +€77,228
up €77,228 (+378.4%), from €20,412 to €97,640
of which Other amounts receivable: +€50,531
Equity and liabilities
- Profit (loss) carried forward +€241,655
up €241,655 (+286.4%), from €84,384 to €326,039
- Tax, wage and social debts -€30,188
down €30,188 (-36.6%), from €82,473 to €52,285
of which Taxes: -€29,828
- Trade debts -€16,738
down €16,738 (-16.6%), from €100,676 to €83,938
Income statement
- Gross operating margin +€147,114
up €147,114 (+17.3%), from €851,898 to €999,011
- Taxes +€60,968
up €60,968 (+241.9%), from €25,204 to €86,172
- Staff costs -€58,883
down €58,883 (-8.1%), from €724,328 to €665,445
From the 2023 result to the 2024 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 2023
€83,493
Gross operating margin
+€147,114
Staff costs
+€58,883
Depreciation
+€3,549
Other operating charges
+€162
Financial income
+€7,452
Financial charges
+€1,971
Taxes
-€60,968
Result 2024
€241,655
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€16,838
Investment
-€14,267
Financing
-€2,708
Cash 2023
€342,026
From operations (derived)
+€16,838
Net result for the year
+€241,655
Depreciation
+€10,509
Stocks and contracts
-€110,000
Receivables within one year
-€77,228
Deferred charges and accrued income
+€139
Trade debts
-€16,738
Tax, wage and social debts
-€30,188
Other debts
-€1,311
Investment (derived)
-€14,267
Investment in fixed assets (net)
-€14,267
Financing
-€2,708
Debts after one year
-€2,649
Current portion of long-term debt
-€59
Cash 2024
€341,889
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €398,732 | €589,443 | +€190,711 | +47.8% |
| Fixed assets | 21/28 | €27,895 | €31,653 | +€3,758 | +13.5% |
| Tangible fixed assets | 22/27 | €22,876 | €26,134 | +€3,258 | +14.2% |
| Plant, machinery and equipment | 23 | €7,667 | €12,636 | +€4,969 | +64.8% |
| Furniture and vehicles | 24 | €14,871 | €13,242 | -€1,629 | -11.0% |
| Other tangible fixed assets | 26 | €338 | €256 | -€83 | -24.4% |
| Financial fixed assets | 28 | €5,019 | €5,519 | +€500 | +10.0% |
| Current assets | 29/58 | €370,837 | €557,790 | +€186,953 | +50.4% |
| Stocks and contracts in progress | 3 | - | €110,000 | +€110,000 | |
| Stocks | 30/36 | - | €110,000 | +€110,000 | |
| Amounts receivable within one year | 40/41 | €20,412 | €97,640 | +€77,228 | +378.4% |
| Trade receivables | 40 | €20,197 | €46,894 | +€26,697 | +132.2% |
| Other amounts receivable | 41 | €215 | €50,746 | +€50,531 | +23548.9% |
| Cash at bank and in hand | 54/58 | €342,026 | €341,889 | -€137 | 0.0% |
| Deferred charges and accrued income | 490/1 | €8,400 | €8,261 | -€139 | -1.7% |
| Total equity and liabilities | 10/49 | €398,732 | €589,443 | +€190,711 | +47.8% |
| Equity | 10/15 | €199,244 | €440,899 | +€241,655 | +121.3% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €106,860 | €106,860 | = | 0.0% |
| 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 | €105,000 | €105,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,384 | €326,039 | +€241,655 | +286.4% |
| Amounts payable | 17/49 | €199,488 | €148,544 | -€50,944 | -25.5% |
| Amounts payable after more than one year | 17 | €3,987 | €1,337 | -€2,649 | -66.5% |
| Financial debts | 170/4 | €3,987 | €1,337 | -€2,649 | -66.5% |
| Amounts payable within one year | 42/48 | €195,501 | €147,206 | -€48,294 | -24.7% |
| Current portion of amounts payable after more than one year | 42 | €11,041 | €10,983 | -€59 | -0.5% |
| Trade debts | 44 | €100,676 | €83,938 | -€16,738 | -16.6% |
| Suppliers | 440/4 | €100,676 | €83,938 | -€16,738 | -16.6% |
| Taxes, remuneration and social security | 45 | €82,473 | €52,285 | -€30,188 | -36.6% |
| Taxes | 450/3 | €32,797 | €2,969 | -€29,828 | -90.9% |
| Remuneration and social security | 454/9 | €49,676 | €49,317 | -€360 | -0.7% |
| Other amounts payable | 47/48 | €1,311 | - | -€1,311 | |
| Remuneration, social security and pensions | 62 | €724,328 | €665,445 | -€58,883 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,058 | €10,509 | -€3,549 | -25.2% |
| Other operating charges | 640/8 | €1,694 | €1,532 | -€162 | -9.5% |
| Gross operating margin | 9900 | €851,898 | €999,011 | +€147,114 | +17.3% |
| Operating profit (loss) | 9901 | €111,818 | €321,525 | +€209,707 | +187.5% |
| Financial income | 75/76B | €4,367 | €11,819 | +€7,452 | +170.6% |
| Recurring financial income | 75 | €4,367 | €11,819 | +€7,452 | +170.6% |
| Financial charges | 65/66B | €7,488 | €5,517 | -€1,971 | -26.3% |
| Recurring financial charges | 65 | €7,488 | €5,517 | -€1,971 | -26.3% |
| Profit (loss) for the period before taxes | 9903 | €108,697 | €327,827 | +€219,130 | +201.6% |
| Income taxes | 67/77 | €25,204 | €86,172 | +€60,968 | +241.9% |
| Profit (loss) for the period | 9904 | €83,493 | €241,655 | +€158,162 | +189.4% |
| Profit (loss) for the period to be appropriated | 9905 | €83,493 | €241,655 | +€158,162 | +189.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.