Constructive Recruitment: 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.
Constructive Recruitment
Largest movements
- Receivables within one year +€34,178
up €34,178 (+70.3%), from €48,649 to €82,826
of which Other amounts receivable: +€36,818
- Receivables after one year +€25,500
up €25,500 (+44.3%), from €57,500 to €83,000
- Other debts +€100,000
new in 2025: €100,000
- Reserves -€61,738
down €61,738 (-45.6%), from €135,331 to €73,593
of which Distributable reserves: -€61,738
- Contributions +€12,400
up €12,400 (+200.0%), from €6,200 to €18,600
- Tax, wage and social debts +€7,428
up €7,428 (+27.2%), from €27,322 to €34,750
- Gross operating margin -€4,273
down €4,273 (-7.2%), from €59,504 to €55,231
- Financial income +€2,022
up €2,022 (+54.9%), from €3,685 to €5,707
- Depreciation +€1,939
up €1,939 (+27.7%), from €7,000 to €8,938
- Taxes -€1,252
down €1,252 (-9.1%), from €13,701 to €12,449
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 | €170,102 | €229,940 | +€59,838 | +35.2% |
| Fixed assets | 21/28 | €12,272 | €11,404 | -€868 | -7.1% |
| Tangible fixed assets | 22/27 | €12,272 | €11,404 | -€868 | -7.1% |
| Furniture and vehicles | 24 | €12,272 | €11,404 | -€868 | -7.1% |
| Current assets | 29/58 | €157,830 | €218,535 | +€60,706 | +38.5% |
| Amounts receivable after more than one year | 29 | €57,500 | €83,000 | +€25,500 | +44.3% |
| Other amounts receivable | 291 | €57,500 | €83,000 | +€25,500 | +44.3% |
| Amounts receivable within one year | 40/41 | €48,649 | €82,826 | +€34,178 | +70.3% |
| Trade receivables | 40 | €10,890 | €8,250 | -€2,640 | -24.2% |
| Other amounts receivable | 41 | €37,759 | €74,576 | +€36,818 | +97.5% |
| Current investments | 50/53 | €19,482 | €19,482 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €30,912 | €32,360 | +€1,448 | +4.7% |
| Deferred charges and accrued income | 490/1 | €1,287 | €867 | -€420 | -32.6% |
| Total equity and liabilities | 10/49 | €170,102 | €229,940 | +€59,838 | +35.2% |
| Equity | 10/15 | €141,531 | €92,193 | -€49,338 | -34.9% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200.0% |
| Reserves | 13 | €135,331 | €73,593 | -€61,738 | -45.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €133,471 | €71,733 | -€61,738 | -46.3% |
| Amounts payable | 17/49 | €28,571 | €137,747 | +€109,176 | +382.1% |
| Amounts payable within one year | 42/48 | €28,571 | €137,747 | +€109,176 | +382.1% |
| Trade debts | 44 | €1,249 | €2,997 | +€1,748 | +139.9% |
| Suppliers | 440/4 | €1,249 | €2,997 | +€1,748 | +139.9% |
| Taxes, remuneration and social security | 45 | €27,322 | €34,750 | +€7,428 | +27.2% |
| Taxes | 450/3 | €27,322 | €34,750 | +€7,428 | +27.2% |
| Other amounts payable | 47/48 | - | €100,000 | +€100,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,000 | €8,938 | +€1,939 | +27.7% |
| Other operating charges | 640/8 | €812 | €1,047 | +€235 | +29.0% |
| Gross operating margin | 9900 | €59,504 | €55,231 | -€4,273 | -7.2% |
| Operating profit (loss) | 9901 | €51,693 | €45,246 | -€6,447 | -12.5% |
| Financial income | 75/76B | €3,685 | €5,707 | +€2,022 | +54.9% |
| Recurring financial income | 75 | €3,685 | €5,707 | +€2,022 | +54.9% |
| Financial charges | 65/66B | €75 | €241 | +€166 | +220.0% |
| Recurring financial charges | 65 | €75 | €241 | +€166 | +220.0% |
| Profit (loss) for the period before taxes | 9903 | €55,302 | €50,711 | -€4,591 | -8.3% |
| Income taxes | 67/77 | €13,701 | €12,449 | -€1,252 | -9.1% |
| Profit (loss) for the period | 9904 | €41,601 | €38,262 | -€3,339 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €41,601 | €38,262 | -€3,339 | -8.0% |
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 4 October 2026 via checked.be.