constructA: 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.
constructA
Largest movements
- Receivables within one year -€45,671
down €45,671 (-33.5%), from €136,431 to €90,760
of which Trade receivables: -€36,582
- Tangible fixed assets -€17,581
down €17,581 (-5.9%), from €298,102 to €280,521
of which Land and buildings: -€18,523
- Stocks and contracts +€4,759
up €4,759 (+32.1%), from €14,844 to €19,603
- Cash +€4,563
up €4,563 (+409.3%), from €1,115 to €5,678
mainly Receivables within one year (+€45,671) and Depreciation (+€18,750)
- Other debts -€61,709
down €61,709 (-34.5%), from €178,963 to €117,253
- Tax, wage and social debts +€17,018
up €17,018 (+396.8%), from €4,289 to €21,307
- Trade debts -€8,543
down €8,543 (-10.8%), from €79,437 to €70,894
- Reserves +€8,008
up €8,008 (+30.1%), from €26,604 to €34,612
- Debts after one year -€7,608
down €7,608 (-5.6%), from €136,488 to €128,880
- Gross operating margin +€32,667
up €32,667 (+341.7%), from €9,561 to €42,228
- Depreciation +€15,146
up €15,146 (+420.4%), from €3,603 to €18,750
- Taxes +€4,530
up €4,530, from €0 to €4,530
- Other operating charges +€2,492
up €2,492 (+164.9%), from €1,511 to €4,004
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 | €453,101 | €400,555 | -€52,546 | -11.6% |
| Fixed assets | 21/28 | €298,702 | €281,121 | -€17,581 | -5.9% |
| Tangible fixed assets | 22/27 | €298,102 | €280,521 | -€17,581 | -5.9% |
| Land and buildings | 22 | €298,102 | €279,579 | -€18,523 | -6.2% |
| Furniture and vehicles | 24 | - | €943 | +€943 | |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €154,399 | €119,433 | -€34,966 | -22.6% |
| Stocks and contracts in progress | 3 | €14,844 | €19,603 | +€4,759 | +32.1% |
| Stocks | 30/36 | €14,844 | €19,603 | +€4,759 | +32.1% |
| Amounts receivable within one year | 40/41 | €136,431 | €90,760 | -€45,671 | -33.5% |
| Trade receivables | 40 | €124,147 | €87,564 | -€36,582 | -29.5% |
| Other amounts receivable | 41 | €12,285 | €3,196 | -€9,089 | -74.0% |
| Cash at bank and in hand | 54/58 | €1,115 | €5,678 | +€4,563 | +409.3% |
| Deferred charges and accrued income | 490/1 | €2,009 | €3,392 | +€1,383 | +68.9% |
| Total equity and liabilities | 10/49 | €453,101 | €400,555 | -€52,546 | -11.6% |
| Equity | 10/15 | €46,604 | €54,612 | +€8,008 | +17.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €26,604 | €34,612 | +€8,008 | +30.1% |
| Distributable reserves | 133 | €26,604 | €34,612 | +€8,008 | +30.1% |
| Amounts payable | 17/49 | €406,496 | €345,943 | -€60,554 | -14.9% |
| Amounts payable after more than one year | 17 | €136,488 | €128,880 | -€7,608 | -5.6% |
| Financial debts | 170/4 | €136,488 | €128,880 | -€7,608 | -5.6% |
| Amounts payable within one year | 42/48 | €270,008 | €217,063 | -€52,946 | -19.6% |
| Current portion of amounts payable after more than one year | 42 | €7,319 | €7,608 | +€289 | +3.9% |
| Trade debts | 44 | €79,437 | €70,894 | -€8,543 | -10.8% |
| Suppliers | 440/4 | €79,437 | €70,894 | -€8,543 | -10.8% |
| Taxes, remuneration and social security | 45 | €4,289 | €21,307 | +€17,018 | +396.8% |
| Taxes | 450/3 | €4,289 | €21,307 | +€17,018 | +396.8% |
| Other amounts payable | 47/48 | €178,963 | €117,253 | -€61,709 | -34.5% |
| Remuneration, social security and pensions | 62 | - | €15 | +€15 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,603 | €18,750 | +€15,146 | +420.4% |
| Other operating charges | 640/8 | €1,511 | €4,004 | +€2,492 | +164.9% |
| Gross operating margin | 9900 | €9,561 | €42,228 | +€32,667 | +341.7% |
| Operating profit (loss) | 9901 | €4,446 | €19,460 | +€15,014 | +337.7% |
| Financial income | 75/76B | €100 | €256 | +€155 | +154.9% |
| Recurring financial income | 75 | €100 | €256 | +€155 | +154.9% |
| Financial charges | 65/66B | €6,771 | €7,177 | +€407 | +6.0% |
| Recurring financial charges | 65 | €6,771 | €7,177 | +€407 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,224 | €12,538 | +€14,762 | |
| Income taxes | 67/77 | €0 | €4,530 | +€4,530 | |
| Profit (loss) for the period | 9904 | -€2,224 | €8,008 | +€10,232 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,224 | €8,008 | +€10,232 |
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.