CSE 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.
CSE CONSTRUCT
Largest movements
- Tangible fixed assets -€6,261
down €6,261 (-22.9%), from €27,300 to €21,039
of which Furniture and vehicles: -€6,051
- Cash +€5,742
up €5,742 (+116%), from €4,937 to €10,678
mainly Depreciation (+€6,261) and Other debts (+€5,600)
- Receivables within one year +€2,529
up €2,529 (+575%), from €440 to €2,968
of which Other amounts receivable: +€2,326
- Deferred charges and accrued income +€1,370
up €1,370 (+192%), from €715 to €2,085
- Other debts +€5,600
up €5,600 (+51.8%), from €10,815 to €16,415
- Current portion of long-term debt -€3,684
no longer reported in 2025 (was €3,684)
- Trade debts +€1,842
up €1,842 (+180%), from €1,024 to €2,866
- Gross operating margin +€6,219
up €6,219 (+181%), from €3,437 to €9,656
- Depreciation +€3,096
up €3,096 (+97.8%), from €3,165 to €6,261
- Taxes +€825
up €825 (+671%), from €123 to €948
- Other operating charges +€731
up €731 (+85.9%), from €851 to €1,582
- Financial charges +€426
up €426 (+55.5%), from €768 to €1,194
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 | €39,391 | €42,771 | +€3,380 | +8.6% |
| Fixed assets | 21/28 | €27,300 | €21,039 | -€6,261 | -22.9% |
| Tangible fixed assets | 22/27 | €27,300 | €21,039 | -€6,261 | -22.9% |
| Plant, machinery and equipment | 23 | €1,021 | €811 | -€210 | -20.6% |
| Furniture and vehicles | 24 | €26,279 | €20,228 | -€6,051 | -23.0% |
| Current assets | 29/58 | €12,091 | €21,732 | +€9,641 | +79.7% |
| Stocks and contracts in progress | 3 | €6,000 | €6,000 | = | 0.0% |
| Stocks | 30/36 | €6,000 | €6,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €440 | €2,968 | +€2,529 | +575% |
| Trade receivables | 40 | €47 | €250 | +€203 | +429% |
| Other amounts receivable | 41 | €392 | €2,718 | +€2,326 | +593% |
| Cash at bank and in hand | 54/58 | €4,937 | €10,678 | +€5,742 | +116% |
| Deferred charges and accrued income | 490/1 | €715 | €2,085 | +€1,370 | +192% |
| Total equity and liabilities | 10/49 | €39,391 | €42,771 | +€3,380 | +8.6% |
| Equity | 10/15 | €3,200 | €2,872 | -€328 | -10.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,800 | -€2,128 | -€328 | -18.2% |
| Amounts payable | 17/49 | €36,191 | €39,899 | +€3,708 | +10.2% |
| Amounts payable after more than one year | 17 | €14,546 | €14,546 | = | 0.0% |
| Financial debts | 170/4 | €14,546 | €14,546 | = | 0.0% |
| Amounts payable within one year | 42/48 | €21,645 | €25,352 | +€3,708 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €3,684 | - | -€3,684 | |
| Trade debts | 44 | €1,024 | €2,866 | +€1,842 | +180% |
| Suppliers | 440/4 | €1,024 | €2,866 | +€1,842 | +180% |
| Advances received on contracts in progress | 46 | €5,000 | €5,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,122 | €1,071 | -€51 | -4.5% |
| Taxes | 450/3 | €1,122 | €1,071 | -€51 | -4.5% |
| Other amounts payable | 47/48 | €10,815 | €16,415 | +€5,600 | +51.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,165 | €6,261 | +€3,096 | +97.8% |
| Other operating charges | 640/8 | €851 | €1,582 | +€731 | +85.9% |
| Gross operating margin | 9900 | €3,437 | €9,656 | +€6,219 | +181% |
| Operating profit (loss) | 9901 | -€578 | €1,814 | +€2,392 | |
| Financial charges | 65/66B | €768 | €1,194 | +€426 | +55.5% |
| Recurring financial charges | 65 | €768 | €1,194 | +€426 | +55.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,346 | €620 | +€1,966 | |
| Income taxes | 67/77 | €123 | €948 | +€825 | +671% |
| Profit (loss) for the period | 9904 | -€1,469 | -€328 | +€1,141 | +77.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,469 | -€328 | +€1,141 | +77.7% |
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 17 October 2026 via checked.be.