Constructio: 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.
Constructio
Largest movements
- Stocks and contracts +€321,906
up €321,906 (+4467.7%), from €7,205 to €329,111
- Current investments +€110,000
new in 2025: €110,000
- Receivables within one year +€47,193
up €47,193 (+903.1%), from €5,226 to €52,419
of which Trade receivables: +€30,906
- Cash -€35,651
down €35,651 (-95.5%), from €37,315 to €1,663
mainly Stocks and contracts (-€321,906) and Current investments (-€110,000)
- Tangible fixed assets -€6,495
down €6,495 (-13.2%), from €49,389 to €42,894
of which Furniture and vehicles: -€7,023
- Trade debts +€119,797
up €119,797 (+6341.2%), from €1,889 to €121,686
- Debts after one year +€115,000
new in 2025: €115,000
- Other debts +€101,840
up €101,840 (+745.3%), from €13,664 to €115,504
- Tax, wage and social debts +€92,265
up €92,265 (+26733.4%), from €345 to €92,610
- Financial charges +€13,729
up €13,729 (+699.3%), from €1,963 to €15,692
- Gross operating margin -€9,734
down €9,734 (-21.2%), from €45,970 to €36,235
- Taxes -€4,957
down €4,957 (-66.8%), from €7,419 to €2,462
- Depreciation +€4,128
up €4,128 (+50.4%), from €8,196 to €12,324
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 | €99,414 | €537,847 | +€438,433 | +441.0% |
| Fixed assets | 21/28 | €49,389 | €44,234 | -€5,155 | -10.4% |
| Tangible fixed assets | 22/27 | €49,389 | €42,894 | -€6,495 | -13.2% |
| Plant, machinery and equipment | 23 | - | €528 | +€528 | |
| Furniture and vehicles | 24 | €49,389 | €42,366 | -€7,023 | -14.2% |
| Financial fixed assets | 28 | - | €1,340 | +€1,340 | |
| Current assets | 29/58 | €50,025 | €493,614 | +€443,588 | +886.7% |
| Stocks and contracts in progress | 3 | €7,205 | €329,111 | +€321,906 | +4467.7% |
| Stocks | 30/36 | €7,205 | €329,111 | +€321,906 | +4467.7% |
| Amounts receivable within one year | 40/41 | €5,226 | €52,419 | +€47,193 | +903.1% |
| Trade receivables | 40 | - | €30,906 | +€30,906 | |
| Other amounts receivable | 41 | €5,226 | €21,513 | +€16,287 | +311.7% |
| Current investments | 50/53 | - | €110,000 | +€110,000 | |
| Cash at bank and in hand | 54/58 | €37,315 | €1,663 | -€35,651 | -95.5% |
| Deferred charges and accrued income | 490/1 | €280 | €420 | +€140 | +50.1% |
| Total equity and liabilities | 10/49 | €99,414 | €537,847 | +€438,433 | +441.0% |
| Equity | 10/15 | €83,516 | €88,510 | +€4,995 | +6.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,516 | €83,510 | +€4,995 | +6.4% |
| Amounts payable | 17/49 | €15,898 | €449,337 | +€433,439 | +2726.3% |
| Amounts payable after more than one year | 17 | - | €115,000 | +€115,000 | |
| Financial debts | 170/4 | - | €115,000 | +€115,000 | |
| Amounts payable within one year | 42/48 | €15,898 | €329,800 | +€313,902 | +1974.4% |
| Trade debts | 44 | €1,889 | €121,686 | +€119,797 | +6341.2% |
| Suppliers | 440/4 | €1,889 | €121,686 | +€119,797 | +6341.2% |
| Taxes, remuneration and social security | 45 | €345 | €92,610 | +€92,265 | +26733.4% |
| Taxes | 450/3 | €345 | €92,610 | +€92,265 | +26733.4% |
| Other amounts payable | 47/48 | €13,664 | €115,504 | +€101,840 | +745.3% |
| Accrued charges and deferred income | 492/3 | - | €4,536 | +€4,536 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,196 | €12,324 | +€4,128 | +50.4% |
| Other operating charges | 640/8 | €672 | €763 | +€91 | +13.5% |
| Gross operating margin | 9900 | €45,970 | €36,235 | -€9,734 | -21.2% |
| Operating profit (loss) | 9901 | €37,101 | €23,149 | -€13,953 | -37.6% |
| Financial income | 75/76B | €148 | €0 | -€148 | -99.9% |
| Recurring financial income | 75 | €148 | €0 | -€148 | -99.9% |
| Financial charges | 65/66B | €1,963 | €15,692 | +€13,729 | +699.3% |
| Recurring financial charges | 65 | €1,963 | €15,692 | +€13,729 | +699.3% |
| Profit (loss) for the period before taxes | 9903 | €35,286 | €7,457 | -€27,830 | -78.9% |
| Income taxes | 67/77 | €7,419 | €2,462 | -€4,957 | -66.8% |
| Profit (loss) for the period | 9904 | €27,867 | €4,995 | -€22,872 | -82.1% |
| Profit (loss) for the period to be appropriated | 9905 | €27,867 | €4,995 | -€22,872 | -82.1% |
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 8 October 2026 via checked.be.