D.H. 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.H. Construct
Largest movements
- Cash -€15,054
no longer reported in 2025 (was €15,054)
mainly Investment in fixed assets (net) (-€19,580) and Advances received (-€16,900)
- Tangible fixed assets +€4,818
up €4,818 (+60.9%), from €7,907 to €12,725
of which Plant, machinery and equipment: +€4,500
- Financial fixed assets +€4,793
new in 2025: €4,793
- Receivables within one year +€2,860
up €2,860 (+9.7%), from €29,444 to €32,304
of which Trade receivables: +€2,622
- Stocks and contracts -€2,103
down €2,103 (-22.9%), from €9,166 to €7,063
- Advances received -€16,900
no longer reported in 2025 (was €16,900)
- Reserves +€11,124
up €11,124 (+598.1%), from €1,860 to €12,984
of which Distributable reserves: +€11,124
- Trade debts +€6,525
up €6,525 (+74.0%), from €8,818 to €15,343
- Current portion of long-term debt -€3,612
down €3,612 (-61.4%), from €5,882 to €2,270
- Debts after one year -€1,943
no longer reported in 2025 (was €1,943)
- Staff costs -€19,041
down €19,041 (-79.9%), from €23,826 to €4,785
- Gross operating margin -€16,565
down €16,565 (-33.7%), from €49,194 to €32,629
- Taxes +€4,513
up €4,513 (+1819.8%), from €248 to €4,761
- Depreciation +€1,972
up €1,972 (+24.7%), from €7,997 to €9,969
- Financial income +€779
up €779 (+445.1%), from €175 to €954
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 | €61,571 | €56,885 | -€4,686 | -7.6% |
| Fixed assets | 21/28 | €7,907 | €17,518 | +€9,611 | +121.6% |
| Tangible fixed assets | 22/27 | €7,907 | €12,725 | +€4,818 | +60.9% |
| Plant, machinery and equipment | 23 | - | €4,500 | +€4,500 | |
| Furniture and vehicles | 24 | €7,907 | €8,225 | +€318 | +4.0% |
| Financial fixed assets | 28 | - | €4,793 | +€4,793 | |
| Current assets | 29/58 | €53,664 | €39,367 | -€14,297 | -26.6% |
| Stocks and contracts in progress | 3 | €9,166 | €7,063 | -€2,103 | -22.9% |
| Stocks | 30/36 | €9,166 | €7,063 | -€2,103 | -22.9% |
| Amounts receivable within one year | 40/41 | €29,444 | €32,304 | +€2,860 | +9.7% |
| Trade receivables | 40 | €25,644 | €28,266 | +€2,622 | +10.2% |
| Other amounts receivable | 41 | €3,800 | €4,038 | +€238 | +6.3% |
| Cash at bank and in hand | 54/58 | €15,054 | - | -€15,054 | |
| Total equity and liabilities | 10/49 | €61,571 | €56,885 | -€4,686 | -7.6% |
| Equity | 10/15 | €21,439 | €32,563 | +€11,124 | +51.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €12,984 | +€11,124 | +598.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €11,124 | +€11,124 | |
| Profit (loss) carried forward | 14 | €7,179 | €7,179 | = | 0.0% |
| Amounts payable | 17/49 | €40,132 | €24,322 | -€15,810 | -39.4% |
| Amounts payable after more than one year | 17 | €1,943 | - | -€1,943 | |
| Financial debts | 170/4 | €1,943 | - | -€1,943 | |
| Amounts payable within one year | 42/48 | €38,189 | €24,322 | -€13,867 | -36.3% |
| Current portion of amounts payable after more than one year | 42 | €5,882 | €2,270 | -€3,612 | -61.4% |
| Financial debts | 43 | - | €70 | +€70 | |
| Credit institutions | 430/8 | - | €70 | +€70 | |
| Trade debts | 44 | €8,818 | €15,343 | +€6,525 | +74.0% |
| Suppliers | 440/4 | €8,818 | €15,343 | +€6,525 | +74.0% |
| Advances received on contracts in progress | 46 | €16,900 | - | -€16,900 | |
| Taxes, remuneration and social security | 45 | €6,589 | €6,639 | +€50 | +0.8% |
| Taxes | 450/3 | €6,401 | €6,639 | +€238 | +3.7% |
| Remuneration and social security | 454/9 | €188 | - | -€188 | |
| Remuneration, social security and pensions | 62 | €23,826 | €4,785 | -€19,041 | -79.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,997 | €9,969 | +€1,972 | +24.7% |
| Other operating charges | 640/8 | €729 | €1,048 | +€319 | +43.8% |
| Gross operating margin | 9900 | €49,194 | €32,629 | -€16,565 | -33.7% |
| Operating profit (loss) | 9901 | €16,642 | €16,827 | +€185 | +1.1% |
| Financial income | 75/76B | €175 | €954 | +€779 | +445.1% |
| Recurring financial income | 75 | €175 | €954 | +€779 | +445.1% |
| Financial charges | 65/66B | €2,017 | €1,896 | -€121 | -6.0% |
| Recurring financial charges | 65 | €2,017 | €1,896 | -€121 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €14,800 | €15,885 | +€1,085 | +7.3% |
| Income taxes | 67/77 | €248 | €4,761 | +€4,513 | +1819.8% |
| Profit (loss) for the period | 9904 | €14,552 | €11,124 | -€3,428 | -23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,552 | €11,124 | -€3,428 | -23.6% |
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 5 October 2026 via checked.be.