CONSTRUCT TIME: 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 TIME
Largest movements
- Stocks and contracts +€178,412
up €178,412 (+594.7%), from €30,000 to €208,412
- Cash -€64,344
down €64,344 (-55.6%), from €115,767 to €51,423
mainly Stocks and contracts (-€178,412) and Investment in fixed assets (net) (-€60,020)
- Receivables within one year -€52,467
down €52,467 (-5.6%), from €938,302 to €885,835
of which Other amounts receivable: -€114,442
- Short-term financial debts +€68,376
new in 2025: €68,376
- Profit (loss) carried forward +€22,015
up €22,015 (+3.3%), from €661,668 to €683,683
- Tax, wage and social debts -€21,527
down €21,527 (-45.1%), from €47,695 to €26,168
of which Remuneration and social security: -€20,673
- Trade debts -€18,589
down €18,589 (-7.1%), from €263,489 to €244,900
- Other debts +€13,895
up €13,895 (+11.7%), from €118,450 to €132,346
- Gross operating margin -€177,566
down €177,566 (-22.9%), from €776,723 to €599,157
- Staff costs -€118,646
down €118,646 (-19.8%), from €597,803 to €479,157
- Other operating charges -€23,138
down €23,138 (-40.4%), from €57,284 to €34,146
- Taxes -€10,000
no longer reported in 2025 (was €10,000)
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 | €1,258,197 | €1,320,375 | +€62,178 | +4.9% |
| Fixed assets | 21/28 | €174,128 | €168,070 | -€6,057 | -3.5% |
| Tangible fixed assets | 22/27 | €174,033 | €167,975 | -€6,057 | -3.5% |
| Plant, machinery and equipment | 23 | €92,549 | €75,894 | -€16,655 | -18.0% |
| Furniture and vehicles | 24 | €81,484 | €92,082 | +€10,598 | +13.0% |
| Financial fixed assets | 28 | €95 | €95 | = | 0.0% |
| Current assets | 29/58 | €1,084,069 | €1,152,304 | +€68,235 | +6.3% |
| Stocks and contracts in progress | 3 | €30,000 | €208,412 | +€178,412 | +594.7% |
| Stocks | 30/36 | €30,000 | €208,412 | +€178,412 | +594.7% |
| Amounts receivable within one year | 40/41 | €938,302 | €885,835 | -€52,467 | -5.6% |
| Trade receivables | 40 | €136,924 | €198,898 | +€61,975 | +45.3% |
| Other amounts receivable | 41 | €801,378 | €686,936 | -€114,442 | -14.3% |
| Cash at bank and in hand | 54/58 | €115,767 | €51,423 | -€64,344 | -55.6% |
| Deferred charges and accrued income | 490/1 | - | €6,635 | +€6,635 | |
| Total equity and liabilities | 10/49 | €1,258,197 | €1,320,375 | +€62,178 | +4.9% |
| Equity | 10/15 | €826,570 | €848,585 | +€22,015 | +2.7% |
| Contributions | 10/11 | €111,073 | €111,073 | = | 0.0% |
| Capital | 10 | €111,073 | €111,073 | = | 0.0% |
| Issued capital | 100 | €111,073 | €111,073 | = | 0.0% |
| Reserves | 13 | €53,829 | €53,829 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,259 | €6,259 | = | 0.0% |
| Legal reserve | 130 | €6,259 | €6,259 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,797 | €23,797 | = | 0.0% |
| Distributable reserves | 133 | €23,773 | €23,773 | = | 0.0% |
| Profit (loss) carried forward | 14 | €661,668 | €683,683 | +€22,015 | +3.3% |
| Amounts payable | 17/49 | €431,627 | €471,789 | +€40,163 | +9.3% |
| Amounts payable within one year | 42/48 | €429,634 | €471,789 | +€42,155 | +9.8% |
| Financial debts | 43 | - | €68,376 | +€68,376 | |
| Credit institutions | 430/8 | - | €68,376 | +€68,376 | |
| Trade debts | 44 | €263,489 | €244,900 | -€18,589 | -7.1% |
| Suppliers | 440/4 | €263,489 | €244,900 | -€18,589 | -7.1% |
| Taxes, remuneration and social security | 45 | €47,695 | €26,168 | -€21,527 | -45.1% |
| Taxes | 450/3 | €854 | - | -€854 | |
| Remuneration and social security | 454/9 | €46,841 | €26,168 | -€20,673 | -44.1% |
| Other amounts payable | 47/48 | €118,450 | €132,346 | +€13,895 | +11.7% |
| Accrued charges and deferred income | 492/3 | €1,992 | - | -€1,992 | |
| Non-recurring operating income | 76A | - | €21,179 | +€21,179 | |
| Remuneration, social security and pensions | 62 | €597,803 | €479,157 | -€118,646 | -19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,194 | €66,078 | -€5,117 | -7.2% |
| Other operating charges | 640/8 | €57,284 | €34,146 | -€23,138 | -40.4% |
| Gross operating margin | 9900 | €776,723 | €599,157 | -€177,566 | -22.9% |
| Operating profit (loss) | 9901 | €50,441 | €19,776 | -€30,665 | -60.8% |
| Financial income | 75/76B | €3,447 | €5,606 | +€2,159 | +62.6% |
| Recurring financial income | 75 | €2,827 | €5,606 | +€2,779 | +98.3% |
| Non-recurring financial income | 76B | €620 | - | -€620 | |
| Financial charges | 65/66B | €5,407 | €6,213 | +€806 | +14.9% |
| Recurring financial charges | 65 | €5,407 | €2,762 | -€2,644 | -48.9% |
| Non-recurring financial charges | 66B | - | €3,451 | +€3,451 | |
| Profit (loss) for the period before taxes | 9903 | €48,481 | €19,169 | -€29,312 | -60.5% |
| Income taxes | 67/77 | €10,000 | - | -€10,000 | |
| Profit (loss) for the period | 9904 | €38,481 | €19,169 | -€19,312 | -50.2% |
| Profit (loss) for the period to be appropriated | 9905 | €38,481 | €19,169 | -€19,312 | -50.2% |
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 2 October 2026 via checked.be.