Construction: 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.
Construction
Largest movements
- Receivables after one year -€105,971
down €105,971 (-95.5%), from €110,971 to €5,000
- Tangible fixed assets -€15,638
down €15,638 (-6.1%), from €254,348 to €238,710
of which Land and buildings: -€14,592
- Receivables within one year +€11,867
new in 2025: €11,867
of which Other amounts receivable: +€10,917
- Debts after one year -€41,150
down €41,150 (-6.8%), from €605,369 to €564,220
of which Other amounts payable: -€29,860
- Profit (loss) carried forward -€40,038
down €40,038 (-5.6%), from -€711,427 to -€751,465
- Other debts -€34,247
down €34,247 (-100.0%), from €34,247 to €0
- Trade debts +€5,462
up €5,462 (+125.3%), from €4,360 to €9,822
- Gross operating margin -€31,493
down €31,493, from €20,172 to -€11,321
- Other operating charges +€418
up €418 (+3.9%), from €10,761 to €11,179
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 | €371,376 | €263,190 | -€108,187 | -29.1% |
| Fixed assets | 21/28 | €254,348 | €238,710 | -€15,638 | -6.1% |
| Tangible fixed assets | 22/27 | €254,348 | €238,710 | -€15,638 | -6.1% |
| Land and buildings | 22 | €246,327 | €231,735 | -€14,592 | -5.9% |
| Plant, machinery and equipment | 23 | €1,594 | €1,415 | -€179 | -11.2% |
| Furniture and vehicles | 24 | €6,427 | €5,560 | -€867 | -13.5% |
| Current assets | 29/58 | €117,028 | €24,479 | -€92,549 | -79.1% |
| Amounts receivable after more than one year | 29 | €110,971 | €5,000 | -€105,971 | -95.5% |
| Other amounts receivable | 291 | €110,971 | €5,000 | -€105,971 | -95.5% |
| Amounts receivable within one year | 40/41 | - | €11,867 | +€11,867 | |
| Trade receivables | 40 | - | €950 | +€950 | |
| Other amounts receivable | 41 | - | €10,917 | +€10,917 | |
| Cash at bank and in hand | 54/58 | €2,801 | €4,213 | +€1,411 | +50.4% |
| Deferred charges and accrued income | 490/1 | €3,255 | €3,400 | +€144 | +4.4% |
| Total equity and liabilities | 10/49 | €371,376 | €263,190 | -€108,187 | -29.1% |
| Equity | 10/15 | -€289,639 | -€329,677 | -€40,038 | -13.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €360,288 | €360,288 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,718 | €3,718 | = | 0.0% |
| Legal reserve | 130 | €3,718 | €3,718 | = | 0.0% |
| Distributable reserves | 133 | €356,570 | €356,570 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€711,427 | -€751,465 | -€40,038 | -5.6% |
| Amounts payable | 17/49 | €661,015 | €592,866 | -€68,149 | -10.3% |
| Amounts payable after more than one year | 17 | €605,369 | €564,220 | -€41,150 | -6.8% |
| Financial debts | 170/4 | €101,702 | €90,412 | -€11,290 | -11.1% |
| Other amounts payable | 178/9 | €503,667 | €473,807 | -€29,860 | -5.9% |
| Amounts payable within one year | 42/48 | €51,230 | €22,612 | -€28,618 | -55.9% |
| Current portion of amounts payable after more than one year | 42 | €11,118 | €11,290 | +€172 | +1.5% |
| Trade debts | 44 | €4,360 | €9,822 | +€5,462 | +125.3% |
| Suppliers | 440/4 | €4,360 | €9,822 | +€5,462 | +125.3% |
| Taxes, remuneration and social security | 45 | €1,504 | €1,500 | -€4 | -0.3% |
| Taxes | 450/3 | €1,504 | €0 | -€1,504 | -100.0% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €34,247 | €0 | -€34,247 | -100.0% |
| Accrued charges and deferred income | 492/3 | €4,416 | €6,035 | +€1,618 | +36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,638 | €15,638 | -€0 | 0.0% |
| Other operating charges | 640/8 | €10,761 | €11,179 | +€418 | +3.9% |
| Gross operating margin | 9900 | €20,172 | -€11,321 | -€31,493 | |
| Operating profit (loss) | 9901 | -€6,226 | -€38,138 | -€31,912 | -512.5% |
| Financial income | 75/76B | €2 | €190 | +€188 | +8959.5% |
| Recurring financial income | 75 | €2 | €190 | +€188 | +8959.5% |
| Financial charges | 65/66B | €1,957 | €1,805 | -€151 | -7.7% |
| Recurring financial charges | 65 | €1,957 | €1,805 | -€151 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | -€8,181 | -€39,753 | -€31,572 | -385.9% |
| Income taxes | 67/77 | €280 | €285 | +€5 | +1.9% |
| Profit (loss) for the period | 9904 | -€8,461 | -€40,038 | -€31,577 | -373.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,461 | -€40,038 | -€31,577 | -373.2% |
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 9 October 2026 via checked.be.