Construction Management Thienpont: 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 Management Thienpont
Largest movements
- Stocks and contracts -€194,213
down €194,213 (-26.8%), from €725,000 to €530,787
- Cash -€9,335
down €9,335 (-58.7%), from €15,909 to €6,574
mainly Short-term financial debts (-€273,585) and Trade debts (-€3,077)
- Short-term financial debts -€273,585
no longer reported in 2025 (was €273,585)
- Profit (loss) carried forward +€33,142
up €33,142 (+52.0%), from -€63,707 to -€30,565
- Other debts +€22,125
up €22,125 (+8.8%), from €251,929 to €274,054
- Debts after one year +€17,000
up €17,000 (+10.3%), from €165,000 to €182,000
- Gross operating margin +€85,793
up €85,793, from -€10,549 to €75,244
- Financial charges +€23,282
up €23,282 (+161%), from €14,417 to €37,699
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 | €750,466 | €545,346 | -€205,120 | -27.3% |
| Fixed assets | 21/28 | €4,295 | €1,383 | -€2,912 | -67.8% |
| Tangible fixed assets | 22/27 | €3,795 | €883 | -€2,912 | -76.7% |
| Furniture and vehicles | 24 | €3,795 | €883 | -€2,912 | -76.7% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €746,171 | €543,963 | -€202,208 | -27.1% |
| Stocks and contracts in progress | 3 | €725,000 | €530,787 | -€194,213 | -26.8% |
| Stocks | 30/36 | €725,000 | €530,787 | -€194,213 | -26.8% |
| Amounts receivable within one year | 40/41 | €5,262 | €6,601 | +€1,340 | +25.5% |
| Trade receivables | 40 | €1,465 | €5,909 | +€4,444 | +303% |
| Other amounts receivable | 41 | €3,797 | €693 | -€3,104 | -81.8% |
| Cash at bank and in hand | 54/58 | €15,909 | €6,574 | -€9,335 | -58.7% |
| Total equity and liabilities | 10/49 | €750,466 | €545,346 | -€205,120 | -27.3% |
| Equity | 10/15 | €51,569 | €84,711 | +€33,142 | +64.3% |
| 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 | €53,276 | €53,276 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €47,076 | €47,076 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,707 | -€30,565 | +€33,142 | +52.0% |
| Amounts payable | 17/49 | €698,897 | €460,635 | -€238,262 | -34.1% |
| Amounts payable after more than one year | 17 | €165,000 | €182,000 | +€17,000 | +10.3% |
| Financial debts | 170/4 | €165,000 | €182,000 | +€17,000 | +10.3% |
| Amounts payable within one year | 42/48 | €530,643 | €276,572 | -€254,071 | -47.9% |
| Financial debts | 43 | €273,585 | - | -€273,585 | |
| Other loans | 439 | €273,585 | - | -€273,585 | |
| Trade debts | 44 | €4,611 | €1,535 | -€3,077 | -66.7% |
| Suppliers | 440/4 | €4,611 | €1,535 | -€3,077 | -66.7% |
| Taxes, remuneration and social security | 45 | €518 | €984 | +€466 | +89.9% |
| Taxes | 450/3 | €518 | €984 | +€466 | +89.9% |
| Other amounts payable | 47/48 | €251,929 | €274,054 | +€22,125 | +8.8% |
| Accrued charges and deferred income | 492/3 | €3,255 | €2,063 | -€1,192 | -36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,282 | €2,912 | -€370 | -11.3% |
| Other operating charges | 640/8 | €1,064 | €990 | -€74 | -6.9% |
| Gross operating margin | 9900 | -€10,549 | €75,244 | +€85,793 | |
| Operating profit (loss) | 9901 | -€14,895 | €71,341 | +€86,237 | |
| Financial charges | 65/66B | €14,417 | €37,699 | +€23,282 | +161% |
| Recurring financial charges | 65 | €14,417 | €37,699 | +€23,282 | +161% |
| Profit (loss) for the period before taxes | 9903 | -€29,313 | €33,642 | +€62,955 | |
| Income taxes | 67/77 | €484 | €500 | +€16 | +3.3% |
| Profit (loss) for the period | 9904 | -€29,797 | €33,142 | +€62,939 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,797 | €33,142 | +€62,939 |
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 30 October 2026 via checked.be.