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.
What changed
CONSTRUCTOR
NACE 47.521, Retail sale of hardware, building materials, paint and glass (general range)
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€64,063
2024 · €107,576-€43,513
Equity
€2.2m
2024 · €2.1m+€64,063
Cash
€273,439
2024 · €163,487+€109,953
Balance sheet total
€6.4m
2024 · €6.1m+€275,751
Largest movements
Assets
- Stocks and contracts +€251,836
up €251,836 (+10.8%), from €2.3m to €2.6m
- Cash +€109,953
up €109,953 (+67.3%), from €163,487 to €273,439
mainly Depreciation (+€119,625) and Net result for the year (+€64,063)
- Tangible fixed assets -€85,537
down €85,537 (-11.7%), from €732,737 to €647,200
of which Leasing and similar rights: -€84,912
Equity and liabilities
- Profit (loss) carried forward +€64,063
up €64,063 (+3.7%), from €1.7m to €1.8m
Income statement
- Staff costs +€111,915
up €111,915 (+9.7%), from €1.2m to €1.3m
- Depreciation -€38,657
down €38,657 (-24.4%), from €158,282 to €119,625
- Gross operating margin -€20,756
down €20,756 (-1.4%), from €1.5m to €1.5m
- Financial charges -€19,179
down €19,179 (-23.8%), from €80,439 to €61,260
- Other operating charges -€17,803
down €17,803 (-50.7%), from €35,146 to €17,343
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
€107,576
Gross operating margin
-€20,756
Staff costs
-€111,915
Depreciation
+€38,657
Other operating charges
+€17,803
Financial income
+€1,958
Financial charges
+€19,179
Taxes
+€11,561
Result 2025
€64,063
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.
From operations
+€73,545
Investment
-€67,083
Financing
+€103,491
Cash 2024
€163,487
From operations (derived)
+€73,545
Net result for the year
+€64,063
Depreciation
+€119,625
Receivables after one year
+€50,461
Stocks and contracts
-€251,836
Receivables within one year
-€15,993
Deferred charges and accrued income
-€972
Trade debts
-€7,362
Tax, wage and social debts
+€12,953
Other debts
+€63,156
Accrued charges and deferred income
+€39,449
Investment (derived)
-€67,083
Investment in fixed assets (net)
-€67,083
Financing
+€103,491
Debts after one year
+€42,878
Current portion of long-term debt
+€60,677
Short-term financial debts
-€64
Cash 2025
€273,439
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,113,666 | €6,389,417 | +€275,751 | +4.5% |
| Fixed assets | 21/28 | €758,251 | €705,710 | -€52,542 | -6.9% |
| Intangible fixed assets | 21 | €399 | €33,395 | +€32,995 | +8259.4% |
| Tangible fixed assets | 22/27 | €732,737 | €647,200 | -€85,537 | -11.7% |
| Land and buildings | 22 | €81,590 | €78,290 | -€3,300 | -4.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €36,221 | €53,129 | +€16,908 | +46.7% |
| Leasing and similar rights | 25 | €543,778 | €458,866 | -€84,912 | -15.6% |
| Other tangible fixed assets | 26 | €71,147 | €56,914 | -€14,233 | -20.0% |
| Financial fixed assets | 28 | €25,115 | €25,115 | = | 0.0% |
| Current assets | 29/58 | €5,355,415 | €5,683,708 | +€328,293 | +6.1% |
| Amounts receivable after more than one year | 29 | €55,247 | €4,785 | -€50,461 | -91.3% |
| Other amounts receivable | 291 | €55,247 | €4,785 | -€50,461 | -91.3% |
| Stocks and contracts in progress | 3 | €2,330,500 | €2,582,336 | +€251,836 | +10.8% |
| Stocks | 30/36 | €2,330,500 | €2,582,336 | +€251,836 | +10.8% |
| Amounts receivable within one year | 40/41 | €2,769,601 | €2,785,595 | +€15,993 | +0.6% |
| Trade receivables | 40 | €2,478,537 | €2,604,907 | +€126,370 | +5.1% |
| Other amounts receivable | 41 | €291,065 | €180,688 | -€110,376 | -37.9% |
| Cash at bank and in hand | 54/58 | €163,487 | €273,439 | +€109,953 | +67.3% |
| Deferred charges and accrued income | 490/1 | €36,580 | €37,552 | +€972 | +2.7% |
| Total equity and liabilities | 10/49 | €6,113,666 | €6,389,417 | +€275,751 | +4.5% |
| Equity | 10/15 | €2,126,138 | €2,190,202 | +€64,063 | +3.0% |
| Contributions | 10/11 | €398,487 | €398,487 | = | 0.0% |
| Reserves | 13 | €17,500 | €17,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,500 | €17,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,710,152 | €1,774,215 | +€64,063 | +3.7% |
| Investment grants | 15 | €0 | - | = | |
| Amounts payable | 17/49 | €3,987,528 | €4,199,215 | +€211,688 | +5.3% |
| Amounts payable after more than one year | 17 | €491,771 | €534,648 | +€42,878 | +8.7% |
| Financial debts | 170/4 | €491,771 | €534,648 | +€42,878 | +8.7% |
| Amounts payable within one year | 42/48 | €3,457,488 | €3,586,849 | +€129,361 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €193,230 | €253,907 | +€60,677 | +31.4% |
| Financial debts | 43 | €772,074 | €772,010 | -€64 | 0.0% |
| Credit institutions | 430/8 | €772,074 | €772,010 | -€64 | 0.0% |
| Trade debts | 44 | €1,933,331 | €1,925,969 | -€7,362 | -0.4% |
| Suppliers | 440/4 | €1,933,331 | €1,925,969 | -€7,362 | -0.4% |
| Taxes, remuneration and social security | 45 | €493,759 | €506,712 | +€12,953 | +2.6% |
| Taxes | 450/3 | €166,664 | €188,767 | +€22,103 | +13.3% |
| Remuneration and social security | 454/9 | €327,095 | €317,945 | -€9,149 | -2.8% |
| Other amounts payable | 47/48 | €65,095 | €128,251 | +€63,156 | +97.0% |
| Accrued charges and deferred income | 492/3 | €38,269 | €77,718 | +€39,449 | +103.1% |
| Remuneration, social security and pensions | 62 | €1,156,310 | €1,268,224 | +€111,915 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €158,282 | €119,625 | -€38,657 | -24.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €35,146 | €17,343 | -€17,803 | -50.7% |
| Gross operating margin | 9900 | €1,516,836 | €1,496,080 | -€20,756 | -1.4% |
| Operating profit (loss) | 9901 | €167,098 | €90,889 | -€76,210 | -45.6% |
| Financial income | 75/76B | €75,396 | €77,354 | +€1,958 | +2.6% |
| Recurring financial income | 75 | €75,396 | €77,354 | +€1,958 | +2.6% |
| Financial charges | 65/66B | €80,439 | €61,260 | -€19,179 | -23.8% |
| Recurring financial charges | 65 | €80,439 | €61,260 | -€19,179 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €162,056 | €106,983 | -€55,073 | -34.0% |
| Income taxes | 67/77 | €54,480 | €42,919 | -€11,561 | -21.2% |
| Profit (loss) for the period | 9904 | €107,576 | €64,063 | -€43,513 | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €107,576 | €64,063 | -€43,513 | -40.4% |
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 30 September 2026 via checked.be.