D. 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.
D. CONSTRUCT
Largest movements
- Cash +€13,452
up €13,452 (+930.8%), from €1,445 to €14,897
mainly Other debts (+€11,729) and Tax, wage and social debts (+€6,069)
- Deferred charges and accrued income +€5,524
up €5,524 (+97.4%), from €5,671 to €11,195
- Receivables within one year -€5,374
down €5,374 (-39.7%), from €13,522 to €8,149
of which Trade receivables: -€5,268
- Stocks and contracts +€3,950
up €3,950 (+27.2%), from €14,500 to €18,450
- Tangible fixed assets -€1,212
down €1,212 (-31.0%), from €3,907 to €2,695
of which Plant, machinery and equipment: -€992
- Other debts +€11,729
up €11,729 (+47.7%), from €24,613 to €36,342
- Tax, wage and social debts +€6,069
up €6,069 (+343.0%), from €1,769 to €7,838
of which Remuneration and social security: +€4,619
- Trade debts -€4,877
down €4,877 (-54.6%), from €8,928 to €4,051
- Profit (loss) carried forward +€3,419
up €3,419 (+9.4%), from -€36,534 to -€33,115
- Gross operating margin +€44,667
up €44,667 (+134.1%), from €33,321 to €77,988
- Staff costs +€26,437
up €26,437 (+59.3%), from €44,615 to €71,053
- Depreciation -€2,805
down €2,805 (-69.8%), from €4,017 to €1,212
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 | €39,046 | €55,385 | +€16,339 | +41.8% |
| Fixed assets | 21/28 | €3,907 | €2,695 | -€1,212 | -31.0% |
| Tangible fixed assets | 22/27 | €3,907 | €2,695 | -€1,212 | -31.0% |
| Plant, machinery and equipment | 23 | €2,975 | €1,983 | -€992 | -33.3% |
| Furniture and vehicles | 24 | €932 | €711 | -€221 | -23.7% |
| Current assets | 29/58 | €35,139 | €52,690 | +€17,552 | +49.9% |
| Stocks and contracts in progress | 3 | €14,500 | €18,450 | +€3,950 | +27.2% |
| Contracts in progress | 37 | €14,500 | €18,450 | +€3,950 | +27.2% |
| Amounts receivable within one year | 40/41 | €13,522 | €8,149 | -€5,374 | -39.7% |
| Trade receivables | 40 | €11,792 | €6,524 | -€5,268 | -44.7% |
| Other amounts receivable | 41 | €1,731 | €1,625 | -€106 | -6.1% |
| Cash at bank and in hand | 54/58 | €1,445 | €14,897 | +€13,452 | +930.8% |
| Deferred charges and accrued income | 490/1 | €5,671 | €11,195 | +€5,524 | +97.4% |
| Total equity and liabilities | 10/49 | €39,046 | €55,385 | +€16,339 | +41.8% |
| Equity | 10/15 | €3,735 | €7,154 | +€3,419 | +91.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,669 | €21,669 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,009 | €6,009 | = | 0.0% |
| Distributable reserves | 133 | €13,800 | €13,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,534 | -€33,115 | +€3,419 | +9.4% |
| Amounts payable | 17/49 | €35,311 | €48,231 | +€12,920 | +36.6% |
| Amounts payable within one year | 42/48 | €35,311 | €48,231 | +€12,920 | +36.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €8,928 | €4,051 | -€4,877 | -54.6% |
| Suppliers | 440/4 | €8,928 | €4,051 | -€4,877 | -54.6% |
| Taxes, remuneration and social security | 45 | €1,769 | €7,838 | +€6,069 | +343.0% |
| Taxes | 450/3 | €314 | €1,764 | +€1,450 | +462.5% |
| Remuneration and social security | 454/9 | €1,456 | €6,075 | +€4,619 | +317.3% |
| Other amounts payable | 47/48 | €24,613 | €36,342 | +€11,729 | +47.7% |
| Non-recurring operating income | 76A | €1,930 | €0 | -€1,930 | -100.0% |
| Remuneration, social security and pensions | 62 | €44,615 | €71,053 | +€26,437 | +59.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,017 | €1,212 | -€2,805 | -69.8% |
| Other operating charges | 640/8 | €2,272 | €1,944 | -€328 | -14.5% |
| Gross operating margin | 9900 | €33,321 | €77,988 | +€44,667 | +134.1% |
| Operating profit (loss) | 9901 | -€17,584 | €3,780 | +€21,364 | |
| Financial income | 75/76B | €242 | €11 | -€231 | -95.5% |
| Recurring financial income | 75 | €242 | €11 | -€231 | -95.5% |
| Financial charges | 65/66B | €106 | €77 | -€29 | -27.1% |
| Recurring financial charges | 65 | €106 | €77 | -€29 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | -€17,448 | €3,713 | +€21,161 | |
| Income taxes | 67/77 | €286 | €294 | +€8 | +2.6% |
| Profit (loss) for the period | 9904 | -€17,735 | €3,419 | +€21,154 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,735 | €3,419 | +€21,154 |
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 12 October 2026 via checked.be.