E.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.
E.D.CONSTRUCT
Largest movements
- Receivables within one year -€15,344
down €15,344 (-42.3%), from €36,245 to €20,901
of which Trade receivables: -€18,176
- Tangible fixed assets +€12,317
up €12,317 (+1590.3%), from €775 to €13,092
of which Furniture and vehicles: +€9,937
- Cash -€1,097
down €1,097 (-80.2%), from €1,368 to €271
- Deferred charges and accrued income -€487
down €487 (-75.9%), from €641 to €154
- Other debts -€2,905
down €2,905 (-15.2%), from €19,085 to €16,180
- Tax, wage and social debts -€1,734
down €1,734 (-40.6%), from €4,275 to €2,541
- Trade debts +€1,393
up €1,393 (+58.2%), from €2,395 to €3,788
- Profit (loss) carried forward -€1,365
down €1,365 (-34.5%), from €3,952 to €2,587
- Write-downs +€10,600
new in 2025: €10,600
- Financial charges +€7,963
up €7,963 (+8172.2%), from €97 to €8,060
of which Non-recurring financial charges: +€8,000
- Taxes -€3,118
down €3,118 (-72.9%), from €4,275 to €1,157
- Gross operating margin -€665
down €665 (-3.8%), from €17,316 to €16,651
- Other operating charges -€252
down €252 (-39.4%), from €639 to €387
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,028 | €34,418 | -€4,611 | -11.8% |
| Fixed assets | 21/28 | €775 | €13,092 | +€12,317 | +1590.3% |
| Tangible fixed assets | 22/27 | €775 | €13,092 | +€12,317 | +1590.3% |
| Plant, machinery and equipment | 23 | €47 | €2,428 | +€2,381 | +5066.3% |
| Furniture and vehicles | 24 | €728 | €10,664 | +€9,937 | +1365.8% |
| Current assets | 29/58 | €38,254 | €21,326 | -€16,928 | -44.3% |
| Amounts receivable within one year | 40/41 | €36,245 | €20,901 | -€15,344 | -42.3% |
| Trade receivables | 40 | €33,362 | €15,185 | -€18,176 | -54.5% |
| Other amounts receivable | 41 | €2,883 | €5,716 | +€2,833 | +98.3% |
| Cash at bank and in hand | 54/58 | €1,368 | €271 | -€1,097 | -80.2% |
| Deferred charges and accrued income | 490/1 | €641 | €154 | -€487 | -75.9% |
| Total equity and liabilities | 10/49 | €39,028 | €34,418 | -€4,611 | -11.8% |
| Equity | 10/15 | €13,274 | €11,909 | -€1,365 | -10.3% |
| Contributions | 10/11 | €9,200 | €9,200 | = | 0.0% |
| Capital | 10 | €9,200 | €9,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €9,400 | €9,400 | = | 0.0% |
| Reserves | 13 | €122 | €122 | = | 0.0% |
| Non-distributable reserves | 130/1 | €122 | €122 | = | 0.0% |
| Legal reserve | 130 | €122 | €122 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,952 | €2,587 | -€1,365 | -34.5% |
| Amounts payable | 17/49 | €25,755 | €22,509 | -€3,246 | -12.6% |
| Amounts payable within one year | 42/48 | €25,755 | €22,509 | -€3,246 | -12.6% |
| Trade debts | 44 | €2,395 | €3,788 | +€1,393 | +58.2% |
| Suppliers | 440/4 | €2,395 | €3,788 | +€1,393 | +58.2% |
| Taxes, remuneration and social security | 45 | €4,275 | €2,541 | -€1,734 | -40.6% |
| Taxes | 450/3 | €4,275 | €2,541 | -€1,734 | -40.6% |
| Other amounts payable | 47/48 | €19,085 | €16,180 | -€2,905 | -15.2% |
| Remuneration, social security and pensions | 62 | €140 | - | -€140 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,719 | €1,497 | -€221 | -12.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,600 | +€10,600 | |
| Other operating charges | 640/8 | €639 | €387 | -€252 | -39.4% |
| Gross operating margin | 9900 | €17,316 | €16,651 | -€665 | -3.8% |
| Operating profit (loss) | 9901 | €14,818 | €4,166 | -€10,651 | -71.9% |
| Financial income | 75/76B | €113 | - | -€113 | |
| Recurring financial income | 75 | €113 | - | -€113 | |
| Financial charges | 65/66B | €97 | €8,060 | +€7,963 | +8172.2% |
| Recurring financial charges | 65 | €97 | €60 | -€37 | -37.9% |
| Non-recurring financial charges | 66B | - | €8,000 | +€8,000 | |
| Profit (loss) for the period before taxes | 9903 | €14,833 | -€3,894 | -€18,728 | |
| Income taxes | 67/77 | €4,275 | €1,157 | -€3,118 | -72.9% |
| Profit (loss) for the period | 9904 | €10,558 | -€5,051 | -€15,609 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,558 | -€5,051 | -€15,609 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.