CONSTRUCTAL: 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.
CONSTRUCTAL
Largest movements
- Current investments +€250,000
new in 2025: €250,000
- Cash +€227,807
up €227,807 (+71.8%), from €317,233 to €545,040
mainly Net result for the year (+€363,728) and Trade debts (+€142,155)
- Receivables within one year +€141,282
up €141,282 (+37.5%), from €376,916 to €518,199
of which Trade receivables: +€171,783
- Tangible fixed assets +€53,623
up €53,623 (+24.0%), from €223,573 to €277,196
of which Leasing and similar rights: +€41,859
- Reserves +€363,728
up €363,728 (+80.5%), from €451,604 to €815,332
- Trade debts +€142,155
up €142,155 (+52.1%), from €272,959 to €415,114
- Other debts +€84,483
up €84,483 (+166%), from €51,005 to €135,488
- Tax, wage and social debts +€41,172
up €41,172 (+100%), from €41,103 to €82,274
of which Taxes: +€46,029
- Debts after one year +€37,897
up €37,897 (+36.8%), from €102,907 to €140,804
- Gross operating margin +€468,259
up €468,259 (+243%), from €192,499 to €660,758
- Taxes +€108,090
up €108,090 (+1,062%), from €10,181 to €118,271
- Financial charges +€36,759
up €36,759 (+66.3%), from €55,424 to €92,183
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.
Derived cash bridge
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 | €961,722 | €1,635,980 | +€674,258 | +70.1% |
| Fixed assets | 21/28 | €265,546 | €319,169 | +€53,623 | +20.2% |
| Intangible fixed assets | 21 | €41,973 | €41,973 | = | 0.0% |
| Tangible fixed assets | 22/27 | €223,573 | €277,196 | +€53,623 | +24.0% |
| Land and buildings | 22 | €108,900 | €108,900 | = | 0.0% |
| Plant, machinery and equipment | 23 | €43,452 | €59,484 | +€16,032 | +36.9% |
| Furniture and vehicles | 24 | €71,221 | €66,953 | -€4,268 | -6.0% |
| Leasing and similar rights | 25 | - | €41,859 | +€41,859 | |
| Current assets | 29/58 | €696,177 | €1,316,811 | +€620,634 | +89.1% |
| Amounts receivable within one year | 40/41 | €376,916 | €518,199 | +€141,282 | +37.5% |
| Trade receivables | 40 | €300,182 | €471,965 | +€171,783 | +57.2% |
| Other amounts receivable | 41 | €76,735 | €46,234 | -€30,501 | -39.7% |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €317,233 | €545,040 | +€227,807 | +71.8% |
| Deferred charges and accrued income | 490/1 | €2,028 | €3,573 | +€1,545 | +76.2% |
| Total equity and liabilities | 10/49 | €961,722 | €1,635,980 | +€674,258 | +70.1% |
| Equity | 10/15 | €466,604 | €830,332 | +€363,728 | +78.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €451,604 | €815,332 | +€363,728 | +80.5% |
| Distributable reserves | 133 | €451,604 | €815,332 | +€363,728 | +80.5% |
| Amounts payable | 17/49 | €495,118 | €805,647 | +€310,529 | +62.7% |
| Amounts payable after more than one year | 17 | €102,907 | €140,804 | +€37,897 | +36.8% |
| Financial debts | 170/4 | €102,907 | €140,804 | +€37,897 | +36.8% |
| Amounts payable within one year | 42/48 | €392,212 | €664,843 | +€272,632 | +69.5% |
| Current portion of amounts payable after more than one year | 42 | €17,000 | €20,486 | +€3,486 | +20.5% |
| Financial debts | 43 | €10,145 | €11,482 | +€1,336 | +13.2% |
| Credit institutions | 430/8 | €10,145 | €11,482 | +€1,336 | +13.2% |
| Trade debts | 44 | €272,959 | €415,114 | +€142,155 | +52.1% |
| Suppliers | 440/4 | €272,959 | €415,114 | +€142,155 | +52.1% |
| Taxes, remuneration and social security | 45 | €41,103 | €82,274 | +€41,172 | +100% |
| Taxes | 450/3 | €33,246 | €79,274 | +€46,029 | +138% |
| Remuneration and social security | 454/9 | €7,857 | €3,000 | -€4,857 | -61.8% |
| Other amounts payable | 47/48 | €51,005 | €135,488 | +€84,483 | +166% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,788 | €89,303 | +€2,515 | +2.9% |
| Other operating charges | 640/8 | €1,633 | €1,485 | -€148 | -9.1% |
| Non-recurring operating charges | 66A | €132 | - | -€132 | |
| Gross operating margin | 9900 | €192,499 | €660,758 | +€468,259 | +243% |
| Operating profit (loss) | 9901 | €103,946 | €569,970 | +€466,024 | +448% |
| Financial income | 75/76B | €1,478 | €4,212 | +€2,735 | +185% |
| Recurring financial income | 75 | €1,478 | €4,212 | +€2,735 | +185% |
| Financial charges | 65/66B | €55,424 | €92,183 | +€36,759 | +66.3% |
| Recurring financial charges | 65 | €55,424 | €92,183 | +€36,759 | +66.3% |
| Profit (loss) for the period before taxes | 9903 | €49,999 | €482,000 | +€432,000 | +864% |
| Income taxes | 67/77 | €10,181 | €118,271 | +€108,090 | +1,062% |
| Profit (loss) for the period | 9904 | €39,819 | €363,728 | +€323,910 | +813% |
| Profit (loss) for the period to be appropriated | 9905 | €39,819 | €363,728 | +€323,910 | +813% |
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 13 October 2026 via checked.be.