De Cock Construct: what changed
De Cock Construct
Largest movements
- Cash +€42,105
up €42,105 (+147%), from €28,737 to €70,841
mainly Trade debts (+€46,513) and Other debts (+€34,846)
- Receivables within one year +€9,774
up €9,774 (+56.5%), from €17,299 to €27,073
of which Other amounts receivable: +€19,270
- Stocks and contracts +€7,117
up €7,117 (+20.0%), from €35,520 to €42,637
of which Contracts in progress: +€37,437
- Tangible fixed assets +€4,515
up €4,515 (+1.8%), from €252,863 to €257,379
of which Other tangible fixed assets: +€15,119
- Trade debts +€46,513
up €46,513 (+422%), from €11,034 to €57,547
- Other debts +€34,846
up €34,846 (+174%), from €20,057 to €54,903
- Debts after one year -€20,716
down €20,716 (-7.8%), from €265,418 to €244,702
of which Financial debts: -€20,716
- Gross operating margin -€18,464
down €18,464 (-17.0%), from €108,889 to €90,425
- Financial income +€9,263
up €9,263 (+538%), from €1,720 to €10,983
of which Non-recurring financial income: +€9,078
- Staff costs +€3,600
up €3,600 (+6.6%), from €54,155 to €57,755
- Taxes -€1,664
down €1,664 (-49.7%), from €3,349 to €1,686
- Depreciation -€1,628
down €1,628 (-5.2%), from €31,036 to €29,408
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €338,701 | €403,171 | +€64,470 | +19.0% |
| Fixed assets | 21/28 | €254,728 | €259,243 | +€4,515 | +1.8% |
| Tangible fixed assets | 22/27 | €252,863 | €257,379 | +€4,515 | +1.8% |
| Land and buildings | 22 | €227,626 | €213,815 | -€13,811 | -6.1% |
| Plant, machinery and equipment | 23 | €19,368 | €11,424 | -€7,944 | -41.0% |
| Furniture and vehicles | 24 | €3,914 | €15,064 | +€11,151 | +285% |
| Other tangible fixed assets | 26 | €1,955 | €17,075 | +€15,119 | +773% |
| Financial fixed assets | 28 | €1,865 | €1,865 | = | 0.0% |
| Current assets | 29/58 | €83,973 | €143,927 | +€59,955 | +71.4% |
| Stocks and contracts in progress | 3 | €35,520 | €42,637 | +€7,117 | +20.0% |
| Stocks | 30/36 | €35,520 | €5,200 | -€30,320 | -85.4% |
| Contracts in progress | 37 | - | €37,437 | +€37,437 | |
| Amounts receivable within one year | 40/41 | €17,299 | €27,073 | +€9,774 | +56.5% |
| Trade receivables | 40 | €17,160 | €7,664 | -€9,496 | -55.3% |
| Other amounts receivable | 41 | €138 | €19,408 | +€19,270 | +13,933% |
| Cash at bank and in hand | 54/58 | €28,737 | €70,841 | +€42,105 | +147% |
| Deferred charges and accrued income | 490/1 | €2,417 | €3,377 | +€959 | +39.7% |
| Total equity and liabilities | 10/49 | €338,701 | €403,171 | +€64,470 | +19.0% |
| Equity | 10/15 | €12,510 | €15,392 | +€2,882 | +23.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €11,510 | €14,392 | +€2,882 | +25.0% |
| Distributable reserves | 133 | €11,510 | €14,392 | +€2,882 | +25.0% |
| Amounts payable | 17/49 | €326,190 | €387,779 | +€61,588 | +18.9% |
| Amounts payable after more than one year | 17 | €265,418 | €244,702 | -€20,716 | -7.8% |
| Financial debts | 170/4 | €226,858 | €206,142 | -€20,716 | -9.1% |
| Other amounts payable | 178/9 | €38,560 | €38,560 | = | 0.0% |
| Amounts payable within one year | 42/48 | €60,773 | €143,077 | +€82,304 | +135% |
| Current portion of amounts payable after more than one year | 42 | €20,396 | €20,716 | +€319 | +1.6% |
| Trade debts | 44 | €11,034 | €57,547 | +€46,513 | +422% |
| Suppliers | 440/4 | €11,034 | €57,547 | +€46,513 | +422% |
| Taxes, remuneration and social security | 45 | €9,286 | €9,911 | +€625 | +6.7% |
| Taxes | 450/3 | €5,651 | €6,566 | +€915 | +16.2% |
| Remuneration and social security | 454/9 | €3,635 | €3,345 | -€290 | -8.0% |
| Other amounts payable | 47/48 | €20,057 | €54,903 | +€34,846 | +174% |
| Remuneration, social security and pensions | 62 | €54,155 | €57,755 | +€3,600 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,036 | €29,408 | -€1,628 | -5.2% |
| Other operating charges | 640/8 | €3,776 | €3,320 | -€456 | -12.1% |
| Gross operating margin | 9900 | €108,889 | €90,425 | -€18,464 | -17.0% |
| Operating profit (loss) | 9901 | €19,923 | -€58 | -€19,981 | |
| Financial income | 75/76B | €1,720 | €10,983 | +€9,263 | +538% |
| Recurring financial income | 75 | €1,720 | €1,906 | +€185 | +10.8% |
| Non-recurring financial income | 76B | - | €9,078 | +€9,078 | |
| Financial charges | 65/66B | €5,153 | €6,358 | +€1,204 | +23.4% |
| Recurring financial charges | 65 | €5,153 | €6,358 | +€1,204 | +23.4% |
| Profit (loss) for the period before taxes | 9903 | €16,490 | €4,567 | -€11,922 | -72.3% |
| Income taxes | 67/77 | €3,349 | €1,686 | -€1,664 | -49.7% |
| Profit (loss) for the period | 9904 | €13,140 | €2,882 | -€10,259 | -78.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,140 | €2,882 | -€10,259 | -78.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.