CPO² Construct: 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.
CPO² Construct
Largest movements
- Receivables within one year +€48,193
up €48,193 (+97.9%), from €49,251 to €97,444
of which Trade receivables: +€39,939
- Tangible fixed assets +€32,115
up €32,115 (+16.5%), from €194,218 to €226,333
of which Plant, machinery and equipment: +€51,793
- Cash +€5,816
up €5,816 (+6.3%), from €93,010 to €98,827
mainly Net result for the year (+€51,822) and Depreciation (+€50,972)
- Deferred charges and accrued income +€5,136
up €5,136 (+859%), from €598 to €5,734
- Financial fixed assets +€4,900
up €4,900 (+817%), from €600 to €5,500
- Reserves +€44,000
up €44,000 (+51.8%), from €85,000 to €129,000
- Other debts +€30,460
up €30,460 (+207%), from €14,730 to €45,190
- Provisions +€27,866
new in 2025: €27,866
- Debts after one year -€14,558
down €14,558 (-8.9%), from €163,528 to €148,970
of which Financial debts: -€34,558
- Trade debts +€8,423
up €8,423 (+57.6%), from €14,611 to €23,034
- Gross operating margin +€126,642
up €126,642 (+41.3%), from €306,307 to €432,949
- Staff costs +€99,667
up €99,667 (+56.7%), from €175,696 to €275,363
- Depreciation +€33,254
up €33,254 (+188%), from €17,718 to €50,972
- Provisions +€27,866
new in 2025: €27,866
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 | €337,678 | €433,839 | +€96,161 | +28.5% |
| Fixed assets | 21/28 | €194,818 | €231,833 | +€37,015 | +19.0% |
| Tangible fixed assets | 22/27 | €194,218 | €226,333 | +€32,115 | +16.5% |
| Plant, machinery and equipment | 23 | €12,798 | €64,591 | +€51,793 | +405% |
| Furniture and vehicles | 24 | €49,535 | €58,107 | +€8,572 | +17.3% |
| Leasing and similar rights | 25 | €131,885 | €103,636 | -€28,249 | -21.4% |
| Financial fixed assets | 28 | €600 | €5,500 | +€4,900 | +817% |
| Current assets | 29/58 | €142,860 | €202,005 | +€59,146 | +41.4% |
| Amounts receivable within one year | 40/41 | €49,251 | €97,444 | +€48,193 | +97.9% |
| Trade receivables | 40 | €32,464 | €72,404 | +€39,939 | +123% |
| Other amounts receivable | 41 | €16,787 | €25,041 | +€8,254 | +49.2% |
| Cash at bank and in hand | 54/58 | €93,010 | €98,827 | +€5,816 | +6.3% |
| Deferred charges and accrued income | 490/1 | €598 | €5,734 | +€5,136 | +859% |
| Total equity and liabilities | 10/49 | €337,678 | €433,839 | +€96,161 | +28.5% |
| Equity | 10/15 | €87,210 | €131,032 | +€43,822 | +50.2% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €85,000 | €129,000 | +€44,000 | +51.8% |
| Distributable reserves | 133 | €85,000 | €129,000 | +€44,000 | +51.8% |
| Profit (loss) carried forward | 14 | €2,209 | €2,031 | -€178 | -8.0% |
| Provisions and deferred taxes | 16 | - | €27,866 | +€27,866 | |
| Provisions for liabilities and charges | 160/5 | - | €27,866 | +€27,866 | |
| Environmental obligations | 163 | - | €27,866 | +€27,866 | |
| Amounts payable | 17/49 | €250,468 | €274,941 | +€24,473 | +9.8% |
| Amounts payable after more than one year | 17 | €163,528 | €148,970 | -€14,558 | -8.9% |
| Financial debts | 170/4 | €125,278 | €90,720 | -€34,558 | -27.6% |
| Other amounts payable | 178/9 | €38,250 | €58,250 | +€20,000 | +52.3% |
| Amounts payable within one year | 42/48 | €81,340 | €125,970 | +€44,631 | +54.9% |
| Current portion of amounts payable after more than one year | 42 | €33,744 | €34,558 | +€813 | +2.4% |
| Trade debts | 44 | €14,611 | €23,034 | +€8,423 | +57.6% |
| Suppliers | 440/4 | €14,611 | €23,034 | +€8,423 | +57.6% |
| Advances received on contracts in progress | 46 | - | €7,000 | +€7,000 | |
| Taxes, remuneration and social security | 45 | €18,254 | €16,188 | -€2,066 | -11.3% |
| Taxes | 450/3 | €6,651 | - | -€6,651 | |
| Remuneration and social security | 454/9 | €11,603 | €16,188 | +€4,586 | +39.5% |
| Other amounts payable | 47/48 | €14,730 | €45,190 | +€30,460 | +207% |
| Accrued charges and deferred income | 492/3 | €5,600 | - | -€5,600 | |
| Remuneration, social security and pensions | 62 | €175,696 | €275,363 | +€99,667 | +56.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,718 | €50,972 | +€33,254 | +188% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €27,866 | +€27,866 | |
| Other operating charges | 640/8 | €3,921 | €1,815 | -€2,107 | -53.7% |
| Gross operating margin | 9900 | €306,307 | €432,949 | +€126,642 | +41.3% |
| Operating profit (loss) | 9901 | €108,972 | €76,933 | -€32,039 | -29.4% |
| Financial income | 75/76B | €376 | €60 | -€316 | -84.1% |
| Recurring financial income | 75 | €376 | €60 | -€316 | -84.1% |
| Financial charges | 65/66B | €5,462 | €7,297 | +€1,835 | +33.6% |
| Recurring financial charges | 65 | €5,462 | €7,297 | +€1,835 | +33.6% |
| Profit (loss) for the period before taxes | 9903 | €103,886 | €69,696 | -€34,190 | -32.9% |
| Income taxes | 67/77 | €18,652 | €17,874 | -€778 | -4.2% |
| Profit (loss) for the period | 9904 | €85,235 | €51,822 | -€33,412 | -39.2% |
| Profit (loss) for the period to be appropriated | 9905 | €85,235 | €51,822 | -€33,412 | -39.2% |
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 18 October 2026 via checked.be.