constructM: 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.
constructM
Largest movements
- Cash +€56,860
up €56,860 (+97.2%), from €58,512 to €115,371
mainly Trade debts (+€94,515) and Deferred charges and accrued income (+€5,903)
- Receivables within one year +€42,502
up €42,502 (+207%), from €20,570 to €63,072
of which Trade receivables: +€38,477
- Deferred charges and accrued income -€5,903
no longer reported in 2025 (was €5,903)
- Trade debts +€94,515
up €94,515 (+380%), from €24,895 to €119,410
- Reserves +€3,407
up €3,407 (+13.5%), from €25,228 to €28,635
- Other debts -€3,044
down €3,044 (-62.8%), from €4,846 to €1,801
- Accrued charges and deferred income -€1,990
down €1,990 (-79.9%), from €2,490 to €500
- Gross operating margin +€1,604
up €1,604 (+34.7%), from €4,618 to €6,221
- Taxes +€495
up €495 (+66.4%), from €746 to €1,240
- Financial income +€346
up €346 (+314,391%), from €0 to €346
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 | €87,398 | €180,150 | +€92,751 | +106% |
| Fixed assets | 21/28 | €2,414 | €1,706 | -€708 | -29.3% |
| Tangible fixed assets | 22/27 | €2,264 | €1,556 | -€708 | -31.3% |
| Plant, machinery and equipment | 23 | €2,264 | €1,556 | -€708 | -31.3% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €84,984 | €178,444 | +€93,459 | +110% |
| Amounts receivable within one year | 40/41 | €20,570 | €63,072 | +€42,502 | +207% |
| Trade receivables | 40 | €20,534 | €59,012 | +€38,477 | +187% |
| Other amounts receivable | 41 | €35 | €4,060 | +€4,025 | +11,409% |
| Cash at bank and in hand | 54/58 | €58,512 | €115,371 | +€56,860 | +97.2% |
| Deferred charges and accrued income | 490/1 | €5,903 | - | -€5,903 | |
| Total equity and liabilities | 10/49 | €87,398 | €180,150 | +€92,751 | +106% |
| Equity | 10/15 | €32,728 | €36,135 | +€3,407 | +10.4% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €25,228 | €28,635 | +€3,407 | +13.5% |
| Distributable reserves | 133 | €25,228 | €28,635 | +€3,407 | +13.5% |
| Amounts payable | 17/49 | €54,671 | €144,015 | +€89,344 | +163% |
| Amounts payable after more than one year | 17 | €20,000 | €20,000 | = | 0.0% |
| Financial debts | 170/4 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €32,180 | €123,515 | +€91,335 | +284% |
| Trade debts | 44 | €24,895 | €119,410 | +€94,515 | +380% |
| Suppliers | 440/4 | €24,895 | €119,410 | +€94,515 | +380% |
| Taxes, remuneration and social security | 45 | €2,440 | €2,303 | -€137 | -5.6% |
| Taxes | 450/3 | €2,440 | €2,303 | -€137 | -5.6% |
| Other amounts payable | 47/48 | €4,846 | €1,801 | -€3,044 | -62.8% |
| Accrued charges and deferred income | 492/3 | €2,490 | €500 | -€1,990 | -79.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €708 | €708 | = | 0.0% |
| Other operating charges | 640/8 | €451 | €465 | +€14 | +3.2% |
| Gross operating margin | 9900 | €4,618 | €6,221 | +€1,604 | +34.7% |
| Operating profit (loss) | 9901 | €3,459 | €5,048 | +€1,589 | +45.9% |
| Financial income | 75/76B | €0 | €346 | +€346 | +314,391% |
| Recurring financial income | 75 | €0 | €346 | +€346 | +314,391% |
| Financial charges | 65/66B | €751 | €746 | -€5 | -0.6% |
| Recurring financial charges | 65 | €751 | €746 | -€5 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | €2,708 | €4,648 | +€1,940 | +71.6% |
| Income taxes | 67/77 | €746 | €1,240 | +€495 | +66.4% |
| Profit (loss) for the period | 9904 | €1,962 | €3,407 | +€1,445 | +73.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,962 | €3,407 | +€1,445 | +73.7% |
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 28 October 2026 via checked.be.