Constructie Spiessens: 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.
What changed
Constructie Spiessens
NACE 28.300, Manufacture of machinery and equipment not elsewhere classified
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€289,786
2024 · €162,644+€127,142
Equity
€3.4m
2024 · €3.1m+€289,786
Cash
€19,746
2024 · €19,792-€46
Balance sheet total
€11.7m
2024 · €12.1m-€336,955
Largest movements
Assets
- Receivables within one year -€1.5m
down €1.5m (-33.2%), from €4.4m to €3.0m
of which Trade receivables: -€1.5m
- Stocks and contracts +€951,994
up €951,994 (+153%), from €621,635 to €1.6m
- Tangible fixed assets +€278,202
up €278,202 (+4.1%), from €6.9m to €7.1m
of which Land and buildings: +€474,142
Equity and liabilities
- Trade debts -€787,210
down €787,210 (-24.5%), from €3.2m to €2.4m
- Debts after one year +€368,214
up €368,214 (+9.0%), from €4.1m to €4.5m
of which Financial debts: +€368,214
- Reserves +€289,786
up €289,786 (+9.5%), from €3.1m to €3.3m
of which Distributable reserves: +€226,636
- Tax, wage and social debts -€244,520
down €244,520 (-78.2%), from €312,567 to €68,047
of which Taxes: -€266,106
Income statement
- Gross operating margin +€222,463
up €222,463 (+21.8%), from €1.0m to €1.2m
- Depreciation +€46,475
up €46,475 (+9.1%), from €509,820 to €556,296
- Staff costs +€43,758
new in 2025: €43,758
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.
Result 2024
€162,644
Gross operating margin
+€222,463
Staff costs
-€43,758
Depreciation
-€46,475
Write-downs
+€5,577
Other operating charges
-€4,436
Financial income
-€2,794
Financial charges
-€10,686
Taxes
+€7,250
Result 2025
€289,786
raises the resultlowers the result
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.
From operations
+€460,685
Investment
-€834,498
Financing
+€373,767
Cash 2024
€19,792
From operations (derived)
+€460,685
Net result for the year
+€289,786
Depreciation
+€556,296
Receivables after one year
+€34,106
Stocks and contracts
-€951,994
Receivables within one year
+€1.5m
Deferred charges and accrued income
+€59,550
Trade debts
-€787,210
Tax, wage and social debts
-€244,520
Other debts
+€31,606
Accrued charges and deferred income
-€384
Investment (derived)
-€834,498
Investment in fixed assets (net)
-€834,498
Financing
+€373,767
Debts after one year
+€368,214
Current portion of long-term debt
+€8,274
Short-term financial debts
-€2,721
Cash 2025
€19,746
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,076,036 | €11,739,080 | -€336,955 | -2.8% |
| Fixed assets | 21/28 | €6,861,922 | €7,140,125 | +€278,202 | +4.1% |
| Tangible fixed assets | 22/27 | €6,859,553 | €7,137,755 | +€278,202 | +4.1% |
| Land and buildings | 22 | €5,289,273 | €5,763,414 | +€474,142 | +9.0% |
| Plant, machinery and equipment | 23 | €297,286 | €357,657 | +€60,371 | +20.3% |
| Furniture and vehicles | 24 | €27,497 | €20,530 | -€6,968 | -25.3% |
| Leasing and similar rights | 25 | €1,245,497 | €996,154 | -€249,343 | -20.0% |
| Financial fixed assets | 28 | €2,369 | €2,369 | = | 0.0% |
| Current assets | 29/58 | €5,214,113 | €4,598,956 | -€615,157 | -11.8% |
| Amounts receivable after more than one year | 29 | €69,748 | €35,642 | -€34,106 | -48.9% |
| Other amounts receivable | 291 | €69,748 | €35,642 | -€34,106 | -48.9% |
| Stocks and contracts in progress | 3 | €621,635 | €1,573,629 | +€951,994 | +153% |
| Stocks | 30/36 | €621,635 | €1,573,629 | +€951,994 | +153% |
| Amounts receivable within one year | 40/41 | €4,438,333 | €2,964,883 | -€1.5m | -33.2% |
| Trade receivables | 40 | €4,405,695 | €2,930,777 | -€1.5m | -33.5% |
| Other amounts receivable | 41 | €32,638 | €34,106 | +€1,468 | +4.5% |
| Cash at bank and in hand | 54/58 | €19,792 | €19,746 | -€46 | -0.2% |
| Deferred charges and accrued income | 490/1 | €64,606 | €5,056 | -€59,550 | -92.2% |
| Total equity and liabilities | 10/49 | €12,076,036 | €11,739,080 | -€336,955 | -2.8% |
| Equity | 10/15 | €3,112,920 | €3,402,706 | +€289,786 | +9.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €3,050,920 | €3,340,706 | +€289,786 | +9.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €63,150 | +€63,150 | |
| Distributable reserves | 133 | €3,044,720 | €3,271,356 | +€226,636 | +7.4% |
| Amounts payable | 17/49 | €8,963,116 | €8,336,375 | -€626,741 | -7.0% |
| Amounts payable after more than one year | 17 | €4,097,038 | €4,465,252 | +€368,214 | +9.0% |
| Financial debts | 170/4 | €4,088,218 | €4,456,432 | +€368,214 | +9.0% |
| Other amounts payable | 178/9 | €8,820 | €8,820 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,865,693 | €3,871,123 | -€994,571 | -20.4% |
| Current portion of amounts payable after more than one year | 42 | €822,181 | €830,455 | +€8,274 | +1.0% |
| Financial debts | 43 | €154,738 | €152,017 | -€2,721 | -1.8% |
| Credit institutions | 430/8 | €154,738 | €152,017 | -€2,721 | -1.8% |
| Trade debts | 44 | €3,218,034 | €2,430,824 | -€787,210 | -24.5% |
| Suppliers | 440/4 | €3,218,034 | €2,430,824 | -€787,210 | -24.5% |
| Taxes, remuneration and social security | 45 | €312,567 | €68,047 | -€244,520 | -78.2% |
| Taxes | 450/3 | €312,567 | €46,461 | -€266,106 | -85.1% |
| Remuneration and social security | 454/9 | - | €21,586 | +€21,586 | |
| Other amounts payable | 47/48 | €358,174 | €389,780 | +€31,606 | +8.8% |
| Accrued charges and deferred income | 492/3 | €384 | - | -€384 | |
| Non-recurring operating income | 76A | €90,612 | - | -€90,612 | |
| Remuneration, social security and pensions | 62 | - | €43,758 | +€43,758 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €509,820 | €556,296 | +€46,475 | +9.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,577 | - | -€5,577 | |
| Other operating charges | 640/8 | €61,122 | €65,557 | +€4,436 | +7.3% |
| Gross operating margin | 9900 | €1,021,485 | €1,243,948 | +€222,463 | +21.8% |
| Operating profit (loss) | 9901 | €444,966 | €578,337 | +€133,371 | +30.0% |
| Financial income | 75/76B | €7,407 | €4,613 | -€2,794 | -37.7% |
| Recurring financial income | 75 | €7,407 | €4,613 | -€2,794 | -37.7% |
| Financial charges | 65/66B | €218,844 | €229,530 | +€10,686 | +4.9% |
| Recurring financial charges | 65 | €218,844 | €229,530 | +€10,686 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €233,529 | €353,421 | +€119,892 | +51.3% |
| Income taxes | 67/77 | €70,886 | €63,635 | -€7,250 | -10.2% |
| Profit (loss) for the period | 9904 | €162,644 | €289,786 | +€127,142 | +78.2% |
| Transfer to tax-exempt reserves | 689 | - | €63,150 | +€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €162,644 | €226,636 | +€63,992 | +39.3% |
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 28 October 2026 via checked.be.