DM 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.
DM CONSTRUCT
Largest movements
- Receivables within one year -€99,395
down €99,395 (-32.3%), from €307,347 to €207,952
of which Trade receivables: -€94,531
- Tangible fixed assets -€90,618
down €90,618 (-17.2%), from €527,686 to €437,068
of which Furniture and vehicles: -€55,330
- Formation expenses +€87,644
new in 2025: €87,644
- Cash -€56,992
down €56,992 (-83.0%), from €68,697 to €11,704
mainly Trade debts (-€260,112) and Debts after one year (-€228,502)
- Stocks and contracts -€37,637
down €37,637 (-13.7%), from €273,960 to €236,323
of which Contracts in progress: -€45,400
- Trade debts -€260,112
down €260,112 (-45.4%), from €572,377 to €312,265
- Debts after one year -€228,502
down €228,502 (-47.3%), from €482,941 to €254,438
of which Other amounts payable: -€189,840
- Short-term financial debts +€180,000
up €180,000 (+120.0%), from €150,000 to €330,000
- Profit (loss) carried forward +€108,054
up €108,054 (+21.7%), from -€499,051 to -€390,998
- Gross operating margin +€530,740
up €530,740 (+211.4%), from €251,001 to €781,741
- Staff costs +€35,143
up €35,143 (+6.0%), from €583,915 to €619,058
- Financial income +€23,150
up €23,150 (+2429.6%), from €953 to €24,103
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 | €1,242,525 | €1,046,020 | -€196,505 | -15.8% |
| Formation expenses | 20 | - | €87,644 | +€87,644 | |
| Fixed assets | 21/28 | €570,746 | €491,415 | -€79,331 | -13.9% |
| Intangible fixed assets | 21 | €16,059 | €27,347 | +€11,288 | +70.3% |
| Tangible fixed assets | 22/27 | €527,686 | €437,068 | -€90,618 | -17.2% |
| Plant, machinery and equipment | 23 | €297,816 | €262,527 | -€35,288 | -11.8% |
| Furniture and vehicles | 24 | €229,871 | €174,541 | -€55,330 | -24.1% |
| Financial fixed assets | 28 | €27,000 | €27,000 | = | 0.0% |
| Current assets | 29/58 | €671,779 | €466,961 | -€204,818 | -30.5% |
| Stocks and contracts in progress | 3 | €273,960 | €236,323 | -€37,637 | -13.7% |
| Stocks | 30/36 | €124,715 | €132,478 | +€7,763 | +6.2% |
| Contracts in progress | 37 | €149,245 | €103,845 | -€45,400 | -30.4% |
| Amounts receivable within one year | 40/41 | €307,347 | €207,952 | -€99,395 | -32.3% |
| Trade receivables | 40 | €249,197 | €154,666 | -€94,531 | -37.9% |
| Other amounts receivable | 41 | €58,150 | €53,286 | -€4,865 | -8.4% |
| Cash at bank and in hand | 54/58 | €68,697 | €11,704 | -€56,992 | -83.0% |
| Deferred charges and accrued income | 490/1 | €21,775 | €10,982 | -€10,794 | -49.6% |
| Total equity and liabilities | 10/49 | €1,242,525 | €1,046,020 | -€196,505 | -15.8% |
| Equity | 10/15 | -€94,402 | €13,652 | +€108,054 | |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €384,189 | €384,189 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,154 | €35,154 | = | 0.0% |
| Distributable reserves | 133 | €349,035 | €349,035 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€499,051 | -€390,998 | +€108,054 | +21.7% |
| Amounts payable | 17/49 | €1,336,927 | €1,032,368 | -€304,559 | -22.8% |
| Amounts payable after more than one year | 17 | €482,941 | €254,438 | -€228,502 | -47.3% |
| Financial debts | 170/4 | €154,856 | €116,194 | -€38,662 | -25.0% |
| Other amounts payable | 178/9 | €328,085 | €138,244 | -€189,840 | -57.9% |
| Amounts payable within one year | 42/48 | €853,986 | €777,930 | -€76,057 | -8.9% |
| Current portion of amounts payable after more than one year | 42 | €75,884 | €79,329 | +€3,445 | +4.5% |
| Financial debts | 43 | €150,000 | €330,000 | +€180,000 | +120.0% |
| Other loans | 439 | €150,000 | €330,000 | +€180,000 | +120.0% |
| Trade debts | 44 | €572,377 | €312,265 | -€260,112 | -45.4% |
| Suppliers | 440/4 | €572,377 | €312,265 | -€260,112 | -45.4% |
| Taxes, remuneration and social security | 45 | €54,868 | €55,880 | +€1,012 | +1.8% |
| Taxes | 450/3 | €5,093 | €381 | -€4,712 | -92.5% |
| Remuneration and social security | 454/9 | €49,775 | €55,499 | +€5,724 | +11.5% |
| Other amounts payable | 47/48 | €858 | €456 | -€402 | -46.8% |
| Non-recurring operating income | 76A | - | €16,637 | +€16,637 | |
| Remuneration, social security and pensions | 62 | €583,915 | €619,058 | +€35,143 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,379 | €137,615 | -€1,764 | -1.3% |
| Other operating charges | 640/8 | €8,891 | €5,238 | -€3,653 | -41.1% |
| Non-recurring operating charges | 66A | - | -€87,692 | -€87,692 | |
| Gross operating margin | 9900 | €251,001 | €781,741 | +€530,740 | +211.4% |
| Operating profit (loss) | 9901 | -€481,184 | €107,522 | +€588,706 | |
| Financial income | 75/76B | €953 | €24,103 | +€23,150 | +2429.6% |
| Recurring financial income | 75 | €953 | €24,103 | +€23,150 | +2429.6% |
| Financial charges | 65/66B | €18,640 | €23,371 | +€4,732 | +25.4% |
| Recurring financial charges | 65 | €18,640 | €23,371 | +€4,732 | +25.4% |
| Profit (loss) for the period before taxes | 9903 | -€498,871 | €108,254 | +€607,125 | |
| Income taxes | 67/77 | €181 | €200 | +€19 | +10.7% |
| Profit (loss) for the period | 9904 | -€499,051 | €108,054 | +€607,105 | |
| Profit (loss) for the period to be appropriated | 9905 | -€499,051 | €108,054 | +€607,105 |
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 6 October 2026 via checked.be.