D - CONSTRUCT: 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.
D - CONSTRUCT
Largest movements
- Stocks and contracts -€204,023
down €204,023 (-34.6%), from €589,562 to €385,539
- Cash +€121,575
up €121,575 (+189.6%), from €64,125 to €185,700
mainly Stocks and contracts (+€204,023) and Tax, wage and social debts (+€43,371)
- Current investments +€100,000
up €100,000, from €0 to €100,000
- Receivables within one year -€16,819
down €16,819 (-92.5%), from €18,189 to €1,370
of which Other amounts receivable: -€17,119
- Debts after one year -€50,000
down €50,000 (-16.4%), from €304,500 to €254,500
- Tax, wage and social debts +€43,371
up €43,371 (+1136.7%), from €3,816 to €47,186
- Profit (loss) carried forward +€11,471
up €11,471 (+143.5%), from €7,996 to €19,468
- Gross operating margin +€33,300
up €33,300, from -€17,433 to €15,866
- Financial income -€2,210
down €2,210 (-89.1%), from €2,480 to €270
- Financial charges -€1,231
down €1,231 (-28.5%), from €4,315 to €3,084
- Other operating charges -€539
down €539 (-35.1%), from €1,538 to €998
- Depreciation -€339
down €339 (-36.8%), from €922 to €583
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 | €673,696 | €673,976 | +€280 | 0.0% |
| Fixed assets | 21/28 | €1,484 | €901 | -€583 | -39.3% |
| Tangible fixed assets | 22/27 | €1,484 | €901 | -€583 | -39.3% |
| Furniture and vehicles | 24 | €1,484 | €901 | -€583 | -39.3% |
| Current assets | 29/58 | €672,212 | €673,075 | +€863 | +0.1% |
| Stocks and contracts in progress | 3 | €589,562 | €385,539 | -€204,023 | -34.6% |
| Stocks | 30/36 | €589,562 | €385,539 | -€204,023 | -34.6% |
| Amounts receivable within one year | 40/41 | €18,189 | €1,370 | -€16,819 | -92.5% |
| Trade receivables | 40 | €0 | €300 | +€300 | |
| Other amounts receivable | 41 | €18,189 | €1,070 | -€17,119 | -94.1% |
| Current investments | 50/53 | €0 | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €64,125 | €185,700 | +€121,575 | +189.6% |
| Deferred charges and accrued income | 490/1 | €335 | €466 | +€130 | +38.9% |
| Total equity and liabilities | 10/49 | €673,696 | €673,976 | +€280 | 0.0% |
| Equity | 10/15 | €300,416 | €311,888 | +€11,471 | +3.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €287,420 | €287,420 | = | 0.0% |
| Distributable reserves | 133 | €287,420 | €287,420 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,996 | €19,468 | +€11,471 | +143.5% |
| Amounts payable | 17/49 | €373,280 | €362,089 | -€11,191 | -3.0% |
| Amounts payable after more than one year | 17 | €304,500 | €254,500 | -€50,000 | -16.4% |
| Financial debts | 170/4 | €304,500 | €254,500 | -€50,000 | -16.4% |
| Amounts payable within one year | 42/48 | €68,780 | €107,589 | +€38,809 | +56.4% |
| Trade debts | 44 | €4,192 | €4,738 | +€545 | +13.0% |
| Suppliers | 440/4 | €4,192 | €4,738 | +€545 | +13.0% |
| Taxes, remuneration and social security | 45 | €3,816 | €47,186 | +€43,371 | +1136.7% |
| Taxes | 450/3 | €3,816 | €47,186 | +€43,371 | +1136.7% |
| Other amounts payable | 47/48 | €60,772 | €55,665 | -€5,107 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €922 | €583 | -€339 | -36.8% |
| Other operating charges | 640/8 | €1,538 | €998 | -€539 | -35.1% |
| Gross operating margin | 9900 | -€17,433 | €15,866 | +€33,300 | |
| Operating profit (loss) | 9901 | -€19,893 | €14,285 | +€34,178 | |
| Financial income | 75/76B | €2,480 | €270 | -€2,210 | -89.1% |
| Recurring financial income | 75 | €2,480 | €270 | -€2,210 | -89.1% |
| Financial charges | 65/66B | €4,315 | €3,084 | -€1,231 | -28.5% |
| Recurring financial charges | 65 | €4,315 | €3,084 | -€1,231 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | -€21,728 | €11,471 | +€33,200 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€21,728 | €11,471 | +€33,200 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,728 | €11,471 | +€33,200 |
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 8 October 2026 via checked.be.