CONSTRUCTOR: 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.
CONSTRUCTOR
Largest movements
- Cash -€10,252
down €10,252 (-78.5%), from €13,066 to €2,814
mainly Other debts (-€249,301) and Net result for the year (-€24,849)
- Short-term financial debts +€265,000
up €265,000 (+112.8%), from €235,000 to €500,000
- Other debts -€249,301
down €249,301 (-81.3%), from €306,526 to €57,224
- Profit (loss) carried forward -€24,849
down €24,849 (-133.8%), from -€18,573 to -€43,422
- Financial charges +€5,544
up €5,544 (+83.3%), from €6,655 to €12,199
- Gross operating margin -€1,484
down €1,484 (-21.4%), from -€6,943 to -€8,427
- Other operating charges -€751
down €751 (-56.1%), from €1,338 to €587
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 | €817,729 | €805,815 | -€11,914 | -1.5% |
| Fixed assets | 21/28 | €307,909 | €304,273 | -€3,636 | -1.2% |
| Tangible fixed assets | 22/27 | €130,909 | €127,273 | -€3,636 | -2.8% |
| Land and buildings | 22 | €130,909 | €127,273 | -€3,636 | -2.8% |
| Financial fixed assets | 28 | €177,000 | €177,000 | = | 0.0% |
| Current assets | 29/58 | €509,820 | €501,543 | -€8,277 | -1.6% |
| Stocks and contracts in progress | 3 | €495,259 | €498,569 | +€3,310 | +0.7% |
| Stocks | 30/36 | €486,400 | €486,400 | = | 0.0% |
| Contracts in progress | 37 | €8,859 | €12,169 | +€3,310 | +37.4% |
| Amounts receivable within one year | 40/41 | €1,012 | €160 | -€853 | -84.2% |
| Trade receivables | 40 | €250 | €0 | -€250 | -100.0% |
| Other amounts receivable | 41 | €762 | €160 | -€603 | -79.1% |
| Cash at bank and in hand | 54/58 | €13,066 | €2,814 | -€10,252 | -78.5% |
| Deferred charges and accrued income | 490/1 | €482 | €0 | -€482 | -100.0% |
| Total equity and liabilities | 10/49 | €817,729 | €805,815 | -€11,914 | -1.5% |
| Equity | 10/15 | €273,440 | €248,591 | -€24,849 | -9.1% |
| Contributions | 10/11 | €92,250 | €92,250 | = | 0.0% |
| Reserves | 13 | €199,763 | €199,763 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €199,763 | €199,763 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,573 | -€43,422 | -€24,849 | -133.8% |
| Amounts payable | 17/49 | €544,289 | €557,224 | +€12,936 | +2.4% |
| Amounts payable within one year | 42/48 | €543,479 | €557,224 | +€13,745 | +2.5% |
| Financial debts | 43 | €235,000 | €500,000 | +€265,000 | +112.8% |
| Credit institutions | 430/8 | €235,000 | €500,000 | +€265,000 | +112.8% |
| Trade debts | 44 | €1,651 | €0 | -€1,651 | -100.0% |
| Suppliers | 440/4 | €1,651 | €0 | -€1,651 | -100.0% |
| Advances received on contracts in progress | 46 | €303 | €0 | -€303 | -100.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €306,526 | €57,224 | -€249,301 | -81.3% |
| Accrued charges and deferred income | 492/3 | €809 | €0 | -€809 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,636 | €3,636 | = | 0.0% |
| Other operating charges | 640/8 | €1,338 | €587 | -€751 | -56.1% |
| Gross operating margin | 9900 | -€6,943 | -€8,427 | -€1,484 | -21.4% |
| Operating profit (loss) | 9901 | -€11,918 | -€12,650 | -€733 | -6.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €6,655 | €12,199 | +€5,544 | +83.3% |
| Recurring financial charges | 65 | €6,655 | €12,199 | +€5,544 | +83.3% |
| Profit (loss) for the period before taxes | 9903 | -€18,573 | -€24,849 | -€6,277 | -33.8% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€18,573 | -€24,849 | -€6,277 | -33.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,573 | -€24,849 | -€6,277 | -33.8% |
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 5 October 2026 via checked.be.