CONSTRUCTIONS MARCEL CREUTZ: 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
CONSTRUCTIONS MARCEL CREUTZ
NACE 41.001, General construction of residential buildings
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€303,694
2024 · €5,312+€298,382
Equity
€12.5m
2024 · €12.2m+€303,694
Cash
€1.2m
2024 · €406,975+€755,910
Balance sheet total
€13.9m
2024 · €13.8m+€152,521
Largest movements
Assets
- Tangible fixed assets -€1.5m
down €1.5m (-23.4%), from €6.5m to €4.9m
of which Leasing and similar rights: -€1.5m
- Stocks and contracts +€1.1m
up €1.1m (+16.6%), from €6.4m to €7.5m
- Cash +€755,910
up €755,910 (+186%), from €406,975 to €1.2m
mainly Investment in fixed assets (net) (+€1.2m) and Net result for the year (+€303,694)
- Receivables within one year -€164,525
down €164,525 (-40.9%), from €402,344 to €237,819
of which Other amounts receivable: -€96,035
Equity and liabilities
- Profit (loss) carried forward +€303,694
up €303,694 (+250%), from €121,606 to €425,301
Income statement
- Gross operating margin +€324,371
up €324,371 (+55.7%), from €582,589 to €906,960
- Taxes +€85,982
up €85,982 (+410%), from €20,978 to €106,960
- Depreciation -€30,625
down €30,625 (-9.4%), from €326,957 to €296,332
- Financial charges -€16,341
down €16,341 (-15.3%), from €106,634 to €90,294
- Other operating charges -€14,823
down €14,823 (-11.9%), from €124,411 to €109,588
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
€5,312
Gross operating margin
+€324,371
Staff costs
+€358
Depreciation
+€30,625
Provisions
-€2,435
Other operating charges
+€14,823
Financial income
+€281
Financial charges
+€16,341
Taxes
-€85,982
Result 2025
€303,694
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
-€459,318
Investment
+€1.2m
Financing
-€2,144
Cash 2024
€406,975
From operations (derived)
-€459,318
Net result for the year
+€303,694
Depreciation
+€296,332
Stocks and contracts
-€1.1m
Receivables within one year
+€164,525
Deferred charges and accrued income
-€5,487
Trade debts
-€126,231
Tax, wage and social debts
+€41,984
Other debts
-€47,719
Accrued charges and deferred income
-€17,063
Investment (derived)
+€1.2m
Investment in fixed assets (net)
+€1.2m
Financing
-€2,144
Debts after one year
-€2,144
Cash 2025
€1.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,765,465 | €13,917,986 | +€152,521 | +1.1% |
| Fixed assets | 21/28 | €6,495,176 | €4,981,472 | -€1.5m | -23.3% |
| Tangible fixed assets | 22/27 | €6,462,281 | €4,948,334 | -€1.5m | -23.4% |
| Furniture and vehicles | 24 | €175,569 | €136,011 | -€39,558 | -22.5% |
| Leasing and similar rights | 25 | €6,265,546 | €4,796,725 | -€1.5m | -23.4% |
| Other tangible fixed assets | 26 | €21,167 | €15,598 | -€5,569 | -26.3% |
| Financial fixed assets | 28 | €32,895 | €33,138 | +€244 | +0.7% |
| Current assets | 29/58 | €7,270,289 | €8,936,514 | +€1.7m | +22.9% |
| Stocks and contracts in progress | 3 | €6,442,193 | €7,511,546 | +€1.1m | +16.6% |
| Stocks | 30/36 | €6,442,193 | €7,511,546 | +€1.1m | +16.6% |
| Amounts receivable within one year | 40/41 | €402,344 | €237,819 | -€164,525 | -40.9% |
| Trade receivables | 40 | €106,490 | €38,000 | -€68,490 | -64.3% |
| Other amounts receivable | 41 | €295,854 | €199,819 | -€96,035 | -32.5% |
| Cash at bank and in hand | 54/58 | €406,975 | €1,162,885 | +€755,910 | +186% |
| Deferred charges and accrued income | 490/1 | €18,777 | €24,264 | +€5,487 | +29.2% |
| Total equity and liabilities | 10/49 | €13,765,465 | €13,917,986 | +€152,521 | +1.1% |
| Equity | 10/15 | €12,217,706 | €12,521,400 | +€303,694 | +2.5% |
| Contributions | 10/11 | €1,148,000 | €1,148,000 | = | 0.0% |
| Capital | 10 | €1,148,000 | €1,148,000 | = | 0.0% |
| Issued capital | 100 | €1,148,000 | €1,148,000 | = | 0.0% |
| Reserves | 13 | €10,948,099 | €10,948,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €197,663 | €197,663 | = | 0.0% |
| Legal reserve | 130 | €188,000 | €188,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,663 | €9,663 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,386 | €20,386 | = | 0.0% |
| Distributable reserves | 133 | €10,730,050 | €10,730,050 | = | 0.0% |
| Profit (loss) carried forward | 14 | €121,606 | €425,301 | +€303,694 | +250% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €1,547,760 | €1,396,586 | -€151,173 | -9.8% |
| Amounts payable after more than one year | 17 | €87,733 | €85,589 | -€2,144 | -2.4% |
| Other amounts payable | 178/9 | €87,733 | €85,589 | -€2,144 | -2.4% |
| Amounts payable within one year | 42/48 | €1,360,271 | €1,228,305 | -€131,966 | -9.7% |
| Trade debts | 44 | €136,280 | €10,048 | -€126,231 | -92.6% |
| Suppliers | 440/4 | €136,280 | €10,048 | -€126,231 | -92.6% |
| Taxes, remuneration and social security | 45 | €32,161 | €74,145 | +€41,984 | +131% |
| Taxes | 450/3 | €32,161 | €74,145 | +€41,984 | +131% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,191,831 | €1,144,112 | -€47,719 | -4.0% |
| Accrued charges and deferred income | 492/3 | €99,755 | €82,692 | -€17,063 | -17.1% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €801 | €443 | -€358 | -44.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €326,957 | €296,332 | -€30,625 | -9.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,435 | - | +€2,435 | |
| Other operating charges | 640/8 | €124,411 | €109,588 | -€14,823 | -11.9% |
| Operating charges capitalised as restructuring costs | 649 | €0 | €0 | = | |
| Gross operating margin | 9900 | €582,589 | €906,960 | +€324,371 | +55.7% |
| Operating profit (loss) | 9901 | €132,854 | €500,597 | +€367,743 | +277% |
| Financial income | 75/76B | €71 | €351 | +€281 | +397% |
| Recurring financial income | 75 | €71 | €351 | +€281 | +397% |
| Financial charges | 65/66B | €106,634 | €90,294 | -€16,341 | -15.3% |
| Recurring financial charges | 65 | €106,634 | €90,294 | -€16,341 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €26,290 | €410,655 | +€384,364 | +1,462% |
| Income taxes | 67/77 | €20,978 | €106,960 | +€85,982 | +410% |
| Profit (loss) for the period | 9904 | €5,312 | €303,694 | +€298,382 | +5,617% |
| Profit (loss) for the period to be appropriated | 9905 | €5,312 | €303,694 | +€298,382 | +5,617% |
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 26 October 2026 via checked.be.