D3 CONSTRUCTION: 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.
D3 CONSTRUCTION
Largest movements
- Receivables within one year +€197,736
up €197,736 (+21.5%), from €921,512 to €1.1m
of which Trade receivables: +€248,902
- Cash -€135,227
down €135,227 (-95.9%), from €140,983 to €5,755
mainly Other debts (-€267,247) and Receivables within one year (-€197,736)
- Tangible fixed assets +€31,425
up €31,425 (+6.6%), from €476,987 to €508,411
of which Furniture and vehicles: +€30,908
- Trade debts +€300,688
up €300,688 (+66.7%), from €450,778 to €751,467
- Other debts -€267,247
down €267,247 (-38.1%), from €700,765 to €433,518
- Current portion of long-term debt +€168,507
up €168,507 (+329.3%), from €51,171 to €219,678
- Profit (loss) carried forward -€99,435
down €99,435 (-68.4%), from €145,282 to €45,847
- Debts after one year -€35,248
down €35,248 (-19.9%), from €176,983 to €141,735
- Gross operating margin -€79,389
down €79,389 (-53.8%), from €147,585 to €68,196
- Depreciation +€11,446
up €11,446 (+27.0%), from €42,430 to €53,876
- Other operating charges +€7,743
up €7,743 (+118.2%), from €6,553 to €14,297
- Financial income -€5,866
down €5,866 (-93.7%), from €6,262 to €396
- Financial charges +€3,993
up €3,993 (+14.5%), from €27,470 to €31,463
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 | €1,550,598 | €1,639,553 | +€88,955 | +5.7% |
| Fixed assets | 21/28 | €477,252 | €508,676 | +€31,425 | +6.6% |
| Tangible fixed assets | 22/27 | €476,987 | €508,411 | +€31,425 | +6.6% |
| Land and buildings | 22 | €422,267 | €423,108 | +€842 | +0.2% |
| Plant, machinery and equipment | 23 | €1,476 | €1,151 | -€325 | -22.0% |
| Furniture and vehicles | 24 | €53,244 | €84,152 | +€30,908 | +58.0% |
| Financial fixed assets | 28 | €265 | €265 | = | 0.0% |
| Current assets | 29/58 | €1,073,346 | €1,130,877 | +€57,531 | +5.4% |
| Amounts receivable within one year | 40/41 | €921,512 | €1,119,248 | +€197,736 | +21.5% |
| Trade receivables | 40 | €171,717 | €420,618 | +€248,902 | +144.9% |
| Other amounts receivable | 41 | €749,795 | €698,629 | -€51,166 | -6.8% |
| Cash at bank and in hand | 54/58 | €140,983 | €5,755 | -€135,227 | -95.9% |
| Deferred charges and accrued income | 490/1 | €10,852 | €5,874 | -€4,978 | -45.9% |
| Total equity and liabilities | 10/49 | €1,550,598 | €1,639,553 | +€88,955 | +5.7% |
| Equity | 10/15 | €169,148 | €68,861 | -€100,287 | -59.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €145,282 | €45,847 | -€99,435 | -68.4% |
| Investment grants | 15 | €3,405 | €2,554 | -€851 | -25.0% |
| Provisions and deferred taxes | 16 | €1,753 | €1,315 | -€438 | -25.0% |
| Deferred taxes | 168 | €1,753 | €1,315 | -€438 | -25.0% |
| Amounts payable | 17/49 | €1,379,697 | €1,569,377 | +€189,680 | +13.7% |
| Amounts payable after more than one year | 17 | €176,983 | €141,735 | -€35,248 | -19.9% |
| Financial debts | 170/4 | €176,983 | €141,735 | -€35,248 | -19.9% |
| Amounts payable within one year | 42/48 | €1,202,714 | €1,427,642 | +€224,928 | +18.7% |
| Current portion of amounts payable after more than one year | 42 | €51,171 | €219,678 | +€168,507 | +329.3% |
| Financial debts | 43 | - | €15,216 | +€15,216 | |
| Credit institutions | 430/8 | - | €15,216 | +€15,216 | |
| Trade debts | 44 | €450,778 | €751,467 | +€300,688 | +66.7% |
| Suppliers | 440/4 | €450,778 | €751,467 | +€300,688 | +66.7% |
| Taxes, remuneration and social security | 45 | - | €7,764 | +€7,764 | |
| Taxes | 450/3 | - | €5,954 | +€5,954 | |
| Remuneration and social security | 454/9 | - | €1,809 | +€1,809 | |
| Other amounts payable | 47/48 | €700,765 | €433,518 | -€267,247 | -38.1% |
| Remuneration, social security and pensions | 62 | €68,948 | €69,681 | +€733 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,430 | €53,876 | +€11,446 | +27.0% |
| Other operating charges | 640/8 | €6,553 | €14,297 | +€7,743 | +118.2% |
| Gross operating margin | 9900 | €147,585 | €68,196 | -€79,389 | -53.8% |
| Operating profit (loss) | 9901 | €29,653 | -€69,658 | -€99,311 | |
| Financial income | 75/76B | €6,262 | €396 | -€5,866 | -93.7% |
| Recurring financial income | 75 | €6,262 | €396 | -€5,866 | -93.7% |
| Financial charges | 65/66B | €27,470 | €31,463 | +€3,993 | +14.5% |
| Recurring financial charges | 65 | €27,470 | €31,463 | +€3,993 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | €8,445 | -€100,725 | -€109,170 | |
| Transfer from deferred taxes | 780 | €1,290 | €1,290 | = | 0.0% |
| Income taxes | 67/77 | -€144 | - | +€144 | |
| Profit (loss) for the period | 9904 | €9,879 | -€99,435 | -€109,315 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,879 | -€99,435 | -€109,315 |
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 1 October 2026 via checked.be.